Utilities led US stocks mostly higher as falling bond yields made high-dividend companies more attractive to investors seeking income, the AP reports. Phone companies and banks also did well. Verizon rose 0.8% and Wells Fargo gained 0.9%, more than the rest of the market. Other sectors ended mostly...
PNC, Wells Fargo, and M&T Bank reported the best DFAST results according to one analyst. What to expect when the Fed releases CCAR results next week.
Wells Fargo’s continued support of national LGBTQ organizations honors a longstanding tradition.?
A customer leaves an ATM at the Wells Fargo & Co. bank in downtown Denver April 13, 2016. Photo by Rick Wilking/Reuters Editor’s Note: Lisa Servon, a professor of city planning at the University of Pennsylvania, has been studying low-income...Show More Summary
Wells Fargo’s efforts to win back customer trust in the wake of its fake account opening scandal saw another hurdle recently, as Sen. Elizabeth Warren asked the Federal Reserve to dismiss all of the bank’s board members. This comes on the heels of a class action lawsuit filed by several customers
Sen. Elizabeth Warren wants the Federal Reserve to clean house at Wells Fargo, asking for the removal of the 12 members of the board of directors who served while the fake accounts scandal was ongoing. In a letter sent to Fed Chair Janet...Show More Summary
Summary: Near the top of the homepage on Wells Fargo’s website, there’s a box that reads: “Working hard to earn your trust.” That trust has been put to the test over the last year, after news broke that thousands of employees had opened millions of unauthorized account, forcing customers to pay illegitimate fees.
The federal government’s consumer financial watchdog is defending his handling of the Wells Fargo & Co. unauthorized accounts scandal in the face of Republican charges that the agency failed to catch the problem and has stymied a congressional investigation into how it handled the case. Richard...
Sen. Elizabeth Warren is calling on the Federal Reserve to remove Wells Fargo & Co. board members who presided over the bank when it opened millions of consumer accounts without customers’ authorization. The scandal, which erupted last year, “revealed severe problems with the bank's risk management...
Wells Fargo is facing allegations of a new scandal, this time involving its treatment of mortgage borrowers in bankruptcy. Some of the borrowers allege that the bank attempted to quietly modify their mortgages so that their monthly payments would be lower—but the length of the loans would be longer,...
The New York Times' Gretchen Morgenson talks about the lawsuit against Wells Fargo claiming the banks changed mortgages without customer authorization.
The bank denied the accusation that it pulled off "illegal stealth modifications."
Builder confidence in the market for newly-built single-family homes weakened slightly in June, down two points to a level of 67 from a downwardly revised May reading of 69 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). All three HMI components posted losses in June but remain at healthy levels.READ MORE www.metrointel.com
Just as it looks to put accusations of aggressive account opening misdeeds behind it, the bank is accused of improperly extending customers’ mortgages.
It was bad, y'all.
A class action suit against Wells Fargo alleges that the bank -- which is still embroiled in a scandal over creating literally millions of fraudulent accounts and firing and blacklisting low-level employees who blew the whistle or simply...Show More Summary
Wells Fargo is coming under fire again. The bank stands accused of making changes to customers' mortgages without telling them. The charges, set out in lawsuits, come as the bank attempts to recover from the reputational carnage wrought...Show More Summary
Wells Fargo doing Wells Fargo again; Phil Falcone is having fun running a profitless Vietnamese Casino; how to kill a rabid raccoon with you bare hands; and more.
Plaintiffs in several lawsuits against Wells Fargo accuse the bank of failing to notify them when it changed loan repayment plans.
Nokia unveiled a couple of network routers it said are designed for the challenges of new technologies such as 5G wireless and the Internet of Things. Wells Fargo responded by saying the company's got it's work cut out for it to get its business back to growth.