Live by the central banks, die by the central banks. 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. By completing this...
In the midst of swirling controversy tied to sham accounts at Wells Fargo, CEO John Stumpf has said he intends to keep his position at the helm of the company. The executive was quoted on CNBC as stating: “I think the best thing I could...
Wells Fargo, which is coming under intense fire for the widespread practice of opening fake accounts to meet sales goals, could be part of a broader problem in the banking industry, despite the increased regulation and scrutiny. Get the Full Story Complete the form to...
Wells Fargo may be facing the largest fine ever levied by the Consumer Financial Protection Bureau after it was revealed employees opened up thousands of fake accounts, but the company’s chief financial officer, John Shrewsberry, said it isn’t a systematic problem at the company, just...
Wells Fargo may not have explicitly admitted wrongdoing in the creation and use of sham accounts tied to client activity, but the firm announced on Tuesday (Sept. 13) it was taking at least some steps toward changing its corporate culture. Via press release, the financial...
When the Federal Reserve ticked the interest rate up to 0.25 for the first time in a decade last December, it was something of big moment — it was the first time the rate has been above zero in almost a decade. Get the Full Story Complete...
Wells Fargo recently found itself in hot water for creating bogus bank accounts for its customers and now has to pay a $185 million fine to settle the charges. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
The Wells Fargo debacle gets more outrageous as the executive in charge during the time of the fraud takes a timely retirement and $125 million. While the shareholders will bear the cost of the largest ever CFPB fine, there is no sign that Carrie Tolstedt...
In the wake of firing more than 5,300 employees and paying $185 million in fines to help settle an investigation into what some have called “sham bank accounts” created without express permission from clients, Wells Fargo has express regrets — but stopped short of agreeing...
