"This is a good first effort by Wells Fargo to start to move this behind them," Paul Miller, a banking analyst at FBR Capital Markets & Co., said Wednesday in an interview on Bloomberg Television. "The question is -- and I do not have the answer -- is it enough?"..."There are still dozens of unanswered questions," Senator Sherrod Brown of Ohio, the banking committee's top Democrat, said in a statement.
Deutsche Bank shares were rising on Wednesday after it struck a deal to sell its Abbey Life insurance business for 1.08 billion euros.
The words “accept full responsibility” shouldn't give Wells Fargo CEO John Stumpf and other bank executives a free pass. In fact, they should mean quite the opposite.
Wells Fargo CEO John Stumpf is giving up $41 million in unvested equity. The clawback relates to the still unfolding scandal over millions of fake accounts set up at the bank.
After Wells Fargo & Co. Chief Executive and Chairman John Stumpf was grilled by members of the Senate Banking Committee last week, regulators took the stand to answer senators’ questions about their investigation into the bank’s sal...