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Warren Buffett's Berkshire Hathaway Reduces Stake In Wells Fargo
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Buffett's Berkshire Hathaway Cuts Stake In Wells Fargo By 43%
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Starbucks sets goals for increasing diversity in coming yearsThe Seattle coffee chain joins Microsoft and Wells Fargo — both of whom have also announced diversity hiring goals.
Wells Fargo fires dozens for alleged abuse of COVID relief programBank says they got loans from Small Business Administration and deposited the money into their personal accounts.
Microsoft, Wells Fargo push diversity — feds say not so fastLabor Department tells the tech and banking giant that hiring Black managers could amount to discrimination.
Wells Fargo's diversity initiative to hire more Black leaders probed by Labor DepartmentWells Fargo has received an inquiry from the Labor Department questioning if its diversity initiative violates federal race discrimination laws.
Ouch! COVID-19 is forcing some people to put retirement on holdAbout 30% of employed investors say it's very or somewhat likely they will delay retirement due to the pandemic, according to a Wells Fargo survey.
Wells Fargo's relationship with NRA is 'declining': CEOWells Fargo & Co's relationship with firearm lobbying group the National Rifle Association is "declining," Chief Executive Charles Scharf told investors on Tuesday.
Chase Bank shuffled Paycheck Protection Program small business applications, lawsuit saysThe move meant that Chase would collect larger processing fees, nearly $6 billion in total. The suit follows similar allegations against Wells Fargo.
Lawsuit alleges Wells Fargo unfairly shuffled Paycheck Protection Program applicationsThe move meant that Wells Fargo would receive millions more dollars in processing fees, according to the lawsuit.
Wall Street jumps as hopes for easing lockdown offset earnings worryU.S. stocks jumped on Tuesday as optimism that the Trump administration could move to ease lockdowns from the coronavirus overshadowed worrying earnings reports from JPMorgan and Wells Fargo.
Wall Street jumps on optimism over lockdown easing but earnings a concernU.S. stocks rose more than 2% on Tuesday as hopes that the Trump administration could move to ease coronavirus-induced lockdowns overshadowed worrying quarterly earnings reports from JPMorgan and Wells..
Two big U.S. banks offer glum outlook for coronavirus recessionThe main things investors wanted to learn from first-quarter results by JPMorgan Chase & Co and Wells Fargo & Co on Tuesday was just how bad the coronavirus recession is going to get and how long it..
Wall Street surges on hopes of lockdown easing; JPMorgan kicks off earningsWall Street jumped on Tuesday as hopes that President Donald Trump could move to ease coronavirus-induced lockdowns overshadowed dismal quarterly earnings reports from JPMorgan and Wells Fargo.
Fed allows Wells Fargo to expand role in overwhelmed small-business loan programWells Fargo, the nation's fourth-largest bank, had set a lending cap of $10 billion due to restrictions as a result of a massive fake account scandal.
Exclusive: U.S. prosecutors probe former Wells Fargo executive over scandal - sourcesU.S. prosecutors are investigating the former head of Wells Fargo & Co’s community banking division for her role in the lender’s product mis-selling scandal, two sources said.
Wells Fargo to raise minimum pay in most of its U.S. marketsWells Fargo & Co said on Wednesday it plans to increase minimum wage to between $15 and $20 per hour for most of its U.S. markets, joining other Wall Street banks that have raised hourly pay in recent..
Citigroup and Wells Fargo restrict all cross border travel as coronavirus spreadsCitigroup Inc and Wells Fargo & Co have restricted all cross-border travel by employees in response to the rapidly spreading coronavirus outbreak.
SEC orders Wells Fargo pay $35 million for recommendations of high-risk productsThe U.S. Securities and Exchange Commission said on Thursday it ordered Wells Fargo & Co to pay $35 million to settle charges it failed to adequately supervise investment advisers who were recommending..
Wells Fargo to pay $3 billion to U.S., admits pressuring workers in fake-accounts scandalWells Fargo & Co will pay $3 billion to resolve criminal and civil probes into fraudulent sales practices and admitted to pressuring employees in a fake-accounts scandal, U.S. officials said on Friday,..
Wells Fargo to pay $3B settlement for violating antifraud rules, resolving fake account probesWells Fargo agrees to pay $3B for misleading investors as part of fake-account scandal
Factbox: Remaining hurdles for scandal-hit Wells FargoWells Fargo & Co has racked up well over $7 billion in penalties since a sales practices scandal erupted in 2016, and continues to face headwinds.
Wells Fargo reaches $3bn fake accounts settlementPressure to hit sales goals led Wells Fargo staff to create fake accounts and collect extra fees.
Wells Fargo close to roughly $3 billion settlement that would end probes into sales practicesWells Fargo is nearing a deal with federal prosecutors that would settle a years-long investigation into the bank's sales practices in its banking, auto lending, and mortgage divisions, The New York..
Buffett's Berkshire buys Kroger and Biogen, reduces Wells Fargo and Goldman stakesWarren Buffett's Berkshire Hathaway Inc on Friday said it has taken a $549.1 million stake in Kroger Co, investing in the largest U.S. supermarket chain as smaller rivals struggle.
Wells Fargo Invests $5M in Startup Connecting Crypto Exchanges and BanksBanking giant Wells Fargo is backing blockchain forensics firm Elliptic. Announced Thursday, the fresh $5 million from Wells Fargo Strategic Capital (WFSC) brings Elliptic’s Series B up to a total of..
John Stumpf: Ex-Wells Fargo boss pays $17.5m to settle chargesJohn Stumpf has also been banned from working for US national banks after a fake accounts scandal.
Ex-Wells Fargo CEO banned from banking, must pay $17.5M fine for role in fake-accounts scandalThe former CEO of Wells Fargo can never work for a bank again and must pay a $17.5 million fine for his role in the bank's fake-accounts scandal.
S&P 500 eases from record on tech retreat, Wells Fargo slideThe S&P 500 eased from record levels on Tuesday, as technology stocks handed back gains made on hopes of a preliminary U.S.-China trade deal and Wells Fargo slid in a mixed start to big banks'..
New Wells Fargo CEO brings Wall Street swagger to storied bankCharles Scharf will make his public debut as Wells Fargo & Co’s chief executive during the bank’s quarterly earnings call on Tuesday, and those who have worked with him in the past say he is likely..
Exclusive: Wells Fargo lays off more than 200 business bankers in U.S. - sourcesWells Fargo & Co has laid off more than 200 bankers in its U.S. lending divisions in recent months, as the bank reacted to business trends and restructured some units, sources familiar with the matter..
Wells Fargo taps one-time Dimon protégé Scharf to lead turnaroundAfter a difficult, months-long search for a new chief executive, scandal-plagued Wells Fargo & Co named as its next leader Charles Scharf, a one-time Jamie Dimon protégé known on Wall Street as a..
Wells Fargo chooses BNY Mellon's Scharf as third CEO in three yearsWells Fargo & Co on Friday named banking veteran Charles Scharf its next chief executive officer, ending a six-month search for a new leader to turn around the fortunes of the scandal-plagued bank,..
Shut Down DC is back and they're protesting outside EPA, Trump Hotel and Wells FargoClimate change activists on Friday protested outside the Trump Hotel, the EPA, Wells Fargo Bank and BlackRock in Washington, D.C.
Wells Fargo taps BNY Mellon's Charles Scharf as CEOWells Fargo & Co named banking veteran Charles Scharf as chief executive officer on Friday, the lender's third CEO since a wide-ranging sales scandal erupted three years ago.
Wells Fargo names Bank of New York Mellon chief as new CEOScandal-tainted bank taps former top deputy to JPMorgan Chase's Jamie Dimon to rehab its reputation
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Top U.S. banks temper net interest income view, cite potential rate cutsWells Fargo relies heavily on interest rates to boost revenue, since it manages rate-sensitive deposits and mortgage securities. On July 31, the U.S. central bank cut its key overnight lending rate to..
Wells Fargo pays $6.5 million to Navajo Nation over 'predatory' practicesWells Fargo & Co will pay the Navajo Nation $6.5 million to settle a lawsuit over "predatory and unlawful practices" by the bank, the Native American tribe said on Thursday.
Your meaningful job is a health hazardWe talk a lot about how millennials need jobs that don’t just pay the bills, but fulfill the depths of our socially responsible, non-GMO, no-artificial-additives souls. There’s no way we’d settle..
Wells Fargo tempers cost-cutting outlookWells Fargo & Co reported higher quarterly earnings on Tuesday, due in part to lower expenses, but the bank reined in its outlook for cost cuts to invest in improving its risk management.
Wells Fargo does well after lower overall costsNew York — Wells Fargo reported higher quarterly profit on Tuesday despite flat revenue, as the bank benefited from lower costs. Revenue fell at Wells’s community bank and wholesale bank as net..
Wells Fargo posts higher profit on cost controls, rise in loansWells Fargo & Co reported higher quarterly profit on Tuesday despite flat revenue as the bank benefited from lower costs.
Companies spent more than $300 million settling FCRA violation claimsBig employers, including Amazon, Uber and Wells Fargo have spent hundreds of millions of dollars over the past decade to settle allegations they unlawfully snooped on job applicants.
Wells Fargo will pay customers $386 million over unwanted auto insuranceWells Fargo & Co will pay customers at least $386 million to settle class-action claims that the bank signed them up for auto insurance they did not want or need when they took out car loans.
Exclusive: Wells Fargo board weighs keeping interim CEO in place - sourcesWells Fargo & Co board members are considering keeping interim Chief Executive Allen Parker in the job permanently even after saying they would seek an outsider to fill the role, according to two..