Nearly five years ago, former Wells Fargo general manager Claudia Ponce de Leon filed a whistleblower account with the federal labor regulators to report that she lost her job after she told management that other employees were opening unauthorized accounts. Get the Full Story Complete...
John Stumpf, the embattled chairman and chief executive of scandal-plagued Wells Fargo, is relinquishing his position amid a fake account scandal. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....
Wells Fargo executives laid out plans to move beyond the fake accounts scandal during a conference call with roughly 500 senior executives in which the bank said growth in the retail banking business will likely be down. Get the Full Story Complete the form to unlock...
Wells Fargo has moved to combine corporate banking with a handful of consumer banking operations and the technology-innovations group in a single department to be headed by Avid Modjtabai. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
Is the branch relationship, with its face-to-face meetings, handshakes and deep knowledge of the small banking customer, dead? Not according to Urban FT EVP Glen Fossella, who sees opportunity to leverage the personal with the digital and create competitive advantages for smaller FIs.
A group of senators has sent a letter to the Justice Department, urging it to investigate and, if necessary, prosecute the individuals behind the fake account scandal at Wells Fargo. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Fitch, the credit rating agency, on Tuesday (Oct. 4) affirmed Wells Fargo’s ratings at “AA-/F1+” and Wells Fargo Bank, N.A.’s ratings at “AA/F1+” but revised the rating outlook to Negative from Stable. Get the Full Story Complete the form to unlock this article and enjoy...
The Wells Fargo fake account scandal has resulted in more fallout for the beleaguered bank — this time, with Illinois announcing a ban on bond and investment work with Wells Fargo. Meanwhile, the Chicago City Council is gearing up to consider a moratorium on doing...
European banks have struggled since the global financial crisis, and jobs are being cut region-wide as financial institutions attempt to recoup profits in order to invest in digital technology. High regulatory costs, negative interest rates and volatile markets are reducing margins. The number of staff...
