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...
The legal hits — via fines — keep on coming for Wells Fargo. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today....
Wells Fargo CEO John Stumpf went to Washington on Thursday (Sept. 29) for the second time this month. And it was not exactly a lark the latest go round. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
Warren Buffett, whose Berkshire Hathaway remains among the largest shareholders of beleagured Wells Fargo, said on Thursday (Sept. 29) that he has not, contrary to one published report by a research firm, been agitating for “radical transformation” at the bank. Get the Full Story Complete...
Adding fuel to the Wells Fargo fire, the company has now been sanctioned by none other than the Justice Department for improperly repossessing cars that had been owned by military personnel. Get the Full Story Complete the form to unlock this article and enjoy unlimited...
Wells Fargo Chief Executive John Stumpf’s move to give up around $41 million in unvested equity was prompted in part by board members who were furious about how the CEO handled the fake account scandal. Get the Full Story Complete the form to unlock this...
Capital, capital everywhere — but, for big U.S. bank investors, the old Seinfeld punchline: “No dividends for you!” Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS...
