The settlement is over the sale of mortgage-backed securities before the 2008 banking crisis
Wells Fargo CEO John Stumpf will forgo $41 million in compensation, the bank’s board of directors announced Tuesday, as punishment for a bogus accounts scandal that has rocked the company. The bank has already apologized and said it fired 5,300 employees tied to the illegal conduct, which saw...
Tesla can't seem to catch a break this year with multiple accidents blamed on the company's autopilot feature, earnings misses and huge cash burns on lower than expected deliveries that have resulted in the company hitting its bank "funding limit", and a controversial proposed merger with SolarCity. Show More Summary
Wells Fargo & Co. Chairman and Chief Executive John Stumpf will forfeit $41 million for the bank's burgeoning sales scandal, marking one of the biggest rebukes to the head of a major U.S. financial institution. The bank's board moved to rescind pay for Mr. Show More Summary
A five-member team of the board of directors at Wells Fargo will determine whether if the bank will claw back pay.
One of the key themes that have emerged in the past year is that, having loaded up their balance sheets with tens of trillions in various assets, central banks are "running out of road." While it is a topic extensively discussed on these...Show More Summary
Covered interest parity is close to a physical law in international finance, yet it has been consistently violated since the Global Crisis. Violations since 2014, once banks had strengthened their balance sheets and regained easy access to funding, are especially puzzling. Show More Summary
CEO John Stumpf and a former Wells executive will forfeit millions of dollars in bonuses, the bank's board says.
Wells Fargo says CEO John Stumpf and the executive who ran the bank's retail banking division will forfeit tens of millions of dollars in pay as the bank tries to … Click to Continue »
The Maker Select Ultimate targets the budget-conscious 3D printmaker who wants to experiment with 3D printing without breaking the bank.
The company's retail banking executive will also forfeit $19 million of her stock awards
Bank says CEO John Stumpf and the executive who ran the consumer banking division will forfeit huge bonuses as it tries to stem a scandal over its sales practices
A hacking group that claimed responsibility for leaking sensitive documents from a Century City investment bank threatened Tuesday to divulge more data if the firm failed to pay a ransom. Seventeen files dated as recently as this month surfaced online last weekend, including background checks listing...
Tyra Banks rang the closing bell at the Nasdaq Entrepreneurial Center in San Francisco this afternoon. The supermodel turned entrepreneur and startup investor was there to celebrate the one-year anniversary of the launch of Tyra Beauty. Tyra Beauty is both “beauty business and badassery,” Banks quipped in a video chat with TechCrunch. It’s a “cosmetics experience, not… Read More
``If a central bank without credibility makes a credible promise to run a non-credible policy, do the double negatives cancel out and create credibility?...But the question is a serious one. The BOJ has just admitted, in effect, that...Show More Summary
We have spent a lot of time talking about the unintended consequences of accommodative global central banking policies. Skyrocketing pension liabilities and the numerous corresponding reach for yield/duration trades, which have resulted...Show More Summary
Embattled Wells Fargo & Co. Chief Executive John Stumpf will forfeit compensation worth about $45 million, part of the company’s response to the still-unfolding scandal over millions of fake accounts created by bank employees. Stumpf will give up about 1 million in unvested stock awards, or about...
Wells Fargo & Co said on Tuesday that it had launched an independent investigation into the firm’s retail banking sales practices. Wells Fargo, the United States’ third-largest bank by assets, agreed to pay $190 million earlier thisShow More Summary
Every day we learn more about how Wells Fargo & Co. violated the trust of its customers through unethical sales practices. If you can’t trust your bank, who can you trust? In a Sept. 8 press release about the Wells Fargo scandal, the...Show More Summary
The London-based bank, which has a deferred-prosecution agreement from a 2012 inquiry, reported accusations against a company in which it holds a stake.