Page 3 - Wells Fargo

Wells Fargo gets regulatory questions after data breach

Recent data breach began with a financial spat between two Wells Fargo brothers over less than $1 mn

As market stress rises, Wells Fargo trims auto loans to overhaul risks

NEW YORK (Reuters) - Wells Fargo & Co is scaling back and remolding its auto lending business in response to growing stress in the market, as well as a bank-wide push for more centralized risk controls.

Wells Fargo bogus accounts balloon to 3.5 million: Lawyers

(Reuters) - Wells Fargo & Co may have opened as many as 3.5 million unauthorised customer accounts, far more than previously estimated, according to lawyers seeking approval of a $142 million settlement over the practice.

Wells Fargo board claws back $28 mn more from ex-CEO

Report builds on a narrative that emerged in congressional hearings and press reports

'Best banker in America' blamed for Wells Fargo sales scandal

REUTERS - An out-of-control sales culture, a defensive boss obsessed with stamping out negative views about her division and a group chief executive who called her "the best banker in America" were to blame for Wells Fargo & Co's devastating sales scandal, an internal investigation found.

Wells Fargo fires four executives amid probe into account scandal

(Reuters) - Wells Fargo & Co has fired four mid-level executives and stripped them of bonuses and stock awards as a result of an investigation into improper sales practices in its retail bank, the company announced on Tuesday.

Wells Fargo sets up AI team in tech push

Well Fargo's AI focus comes as banks, other large financial institutions increase their investment

Whistleblower to testify in Wells Fargo case

Wells Fargo chief executive John Stumpf resigned in Oct after intense questioning before Congress

Wells Fargo fraud charges escalate to sham insurance policies

Wells Fargo has a partnership with Prudential to sell a low-cost life insurance policy to the bank's retail customers

US regulator reverses course, tightens controls on Wells Fargo after scandal

Revokes Wells Fargo & Co's right to shield the pay of former executives after a phony-accounts scandal

Wells Fargo faces tighter controls as US regulator reverses course

A Wells Fargo official said on Friday that the bank is on track to restore its reputation and business

Wells Fargo to pay $50 mn to settle home appraisal overcharges

In the latest hit to the battered bank, Wells Fargo has agreed to pay $50 million to settle a class-action lawsuit that accused the bank of overcharging hundreds of thousands of homeowners for appraisals ordered after the homeowners defaulted on their mortgage loans.The proposed settlement calls for Wells Fargo to automatically mail checks to more than 250,000 customers nationwide whose home loans were serviced by the bank between 2005 and 2010.The checks will typically be for $120, according to Roland Tellis, a lawyer with Baron & Budd, the law firm that represented Wells Fargo's customers. If a judge signs off on the settlement, as expected, the checks will be distributed next year. When a borrower falls behind on a loan, mortgage contracts typically let the lender order an appraisal of the home's current value. The cost of that appraisal, known as a "broker price opinion," can be passed on to the borrower, but Wells Fargo used one of its own subsidiaries to conduct appraisals an

Wells Fargo CEO John Stumpf quits, replaced by Tim Sloan

Stumpf's fall started with a $185 million settlement over its staff opening as many as 2 million accounts without customers' knowledge

At Wells Fargo, charges of fake accounts since 2005

Wells Fargo said it would pay $185 million in fines for opening as many as two million customer accounts and credit cards without authorisation

Wells Fargo faces costly overhaul of bankrupt sales culture

Management said the bank had lost some retail banking business and could lose more

Chicago latest to sanction Wells Fargo for defrauding customers

Wells has earned $19.5 million in fees from Chicago since 2005

Wells Fargo account scandal extends to small business: US senator

A person familiar with the matter said that Wells has identified about 10,000 small business accounts that were subject to improper practices

Wells Fargo launches investigation into retail banking sales practices

The bank agreed to pay $190 million earlier this month to settle regulatory charges