Wells Fargo bogus accounts balloon to 3.5 million Wells Fargo & Co (WFC.N) may have opened as many as 3.5 million unauthorized customer accounts, far more than previously estimated, according to lawyers seeking approval of a $142 million settlement over the practice. The new estimate was provided in a filing […]
John G Stumpf
High-stakes vote on Wells Fargo board also tests proxy adviser ISS A high-stakes shareholder vote at Wells Fargo & Co (WFC.N) next week will determine whether the bank has done enough to retain investor confidence after its phony-account scandal, and whether a leading proxy adviser wields enough clout to help […]
Buffett likely voted shares to back Wells Fargo board Buffett likely voted shares to back Wells Fargo board:- Wells Fargo & Co's (WFC.N) largest investor, Warren Buffett, has likely already voted his shares to support the bank's recommendations at its contentious annual shareholder meeting next week, a representative told Reuters […]
Wells Fargo names Allen Parker general counsel Wells Fargo names Allen Parker general counsel:- Wells Fargo & Co (WFC.N) named Allen Parker general counsel on Monday, at a time when the third-largest U.S. lender looks to restore its battered reputation following a scandal over phony accounts. Parker succeeds company veteran […]
Wells Fargo fires four executives amid probe into account scandal Wells Fargo fires four executives amid probe into account scandal:- 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 […]
Fines, Withdrawals, Job Cuts. It Was an Ugly Day for Global Banks Fines, Withdrawals, Job Cuts. It Was an Ugly Day for Global Banks : Even before the opening bell in New York, Thursday looked like a grim day for some of the giants of global banking. But few expected […]
Lawmakers Won’t Let Wells Fargo Forget Its Scandal Anytime Soon Lawmakers Won’t Let Wells Fargo Forget Its Scandal Anytime Soon : Wells Fargo & Co. should prepare itself for a long stay in the Capitol Hill hot seat because it ran afoul of Elizabeth Warren’s favorite regulator. Revelations that the […]
Wells Fargo Sued Over Firings for Missed Account Quotas Wells Fargo Sued Over Firings for Missed Account Quotas : Wells Fargo & Co. managers were accused of fueling the creation of bogus accounts in what may be the first lawsuit by fired or demoted employees since the bank was called […]
