Wells Fargo has revealed that it is firing around three dozen district managers due to the retail banking scandal that happened more than two years ago. Citing people familiar with the matter, the Wall Street Journal reported that senior executives, including consumer banking head Mary...
The U.S. Department of Justice (DOJ) announced that Wells Fargo will pay $2.09 billion in penalties to settle claims related to mortgage loans that the lender processed before the last recession. “Abuses in the mortgage-backed securities industry led to a financial crisis that devastated millions of...
The controversy surrounding Wells Fargo continues. The beleaguered banking giant is looking inward once again, evaluating its wealth and investment management business in search of “possible customer abuse,” as Reuters reported. Those abuses would include overcharging clients and making inappropriate referrals, the newswire reported. The...
Wells Fargo is having a tough time making it right for the thousands of customers it harmed, reportedly sending out communications with wrong information to 38,000 customers who were forced into auto insurance they didn’t want or need. According to a report in The Wall...
December 07, 2018
The Federal Reserve sent Wells Fargo & Co. back to the drawing table with its plan to prevent consumer abuses in the future obligation of or guaranteed, rejecting its plan and calling on the bank to put in place stronger checks on management. Reuters, citing three people with knowledge of the discussions, reported that because […]
December 06, 2018
Wells Fargo has revealed that it is firing around three dozen district managers due to the retail banking scandal that happened more than two years ago. Citing people familiar with...
August 02, 2018
The U.S. Department of Justice (DOJ) announced that Wells Fargo will pay $2.09 billion in penalties to settle claims related to mortgage loans that the lender processed before the last recession....
March 02, 2018
The controversy surrounding Wells Fargo continues. The beleaguered banking giant is looking inward once again, evaluating its wealth and investment management business in search of “possible customer abuse,” as Reuters...
