Finance Banks

  • Sen. Warren: Stumpf should be criminally investigated

    Sen. Elizabeth Warren (D-Massachusetts) calls for Wells Fargo Chairman & CEO John Stumpf to resign and be investigated by the Justice Department and Securities Exchange Commission, as Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal.

  • Sen. Warren grills Stumpf on WFC cross-selling

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Elizabeth Warren (D-Massachusetts) about the bank's cross-selling tactics.

  • Senator Elizabeth Warren, a Democrat from Massachusetts, listens as John Stumpf, chief executive officer of Wells Fargo & Co., not pictured, testifies in front of the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., U.S., on Tuesday, Sept. 20, 2016.

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Elizabeth Warren (D-Massachusetts) about his personal accountability in the scandal.

  • Stumpf: We will make it right by credit bureau and customer

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Jon Tester (D- Montana) about whether information from fraudulent accounts was reported to credit bureaus, potentially affecting customers's credit rating.

  • Stumpf: People are held accountable

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Bob Menendez (D- N.J.) about whether he or senior executives suffered any financial consequences over these actions.

  • MILAN, Sept 20- Fears over the feasibility of Banca Monte dei Paschi di Siena's rescue plan hit its share and bond prices on Tuesday, highlighting the challenges faced by Chief Executive Marco Morelli on his first day in the job as head of Italy's third-largest bank. Shares in Monte dei Paschi, which plans to raise 5 billion euros in new equity capital while selling...

  • Stumpf: Carrie chose to retire

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Bob Corker (R-Tenn.) about Carrie Tolstedt's departure from the company.

  • Stumpf: Those that lost their jobs had 'good-paying' ones

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Sen. Sherrod Brown (D-Ohio) about the bank's lowest-paid employees and the compensation package paid to Carrie Tolstedt.

  • BUDAPEST, Sept 20- The forint eased and Hungarian government debt traded near record low yields on Tuesday as the country's central bank eased policy by capping the funds commercial banks can place in its 3- month deposits, and cut inflation forecasts. The move came after Standard& Poor's upgraded Hungary's rating on Friday, boosting demand for its government...

  • Stumpf: No question we have violated some customers' trust

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Committee Chairman Sen. Richard Shelby (R-Alabama) about trust in the financial system.

  • *After commodity boom, default risks rise in Mongolia. HONG KONG/ LONDON, Sept 20- Holders of Mongolia's high-yielding dollar bonds are looking beyond a sharp rise in sovereign default risks on a bet that China or the International Monetary Fund will help the once-booming commodity producer to stay solvent. Mongolia, a vast country of just three million people, is...

  • Stumpf: We didn't get on this fast enough

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, answering questions from Committee Chairman Sen. Richard Shelby (R-Alabama) about when senior management were made aware of the fraudulent activity.

  • Stumpf: We did not get it right

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, including how internal review procedures failed.

  • John Stumpf, chairman and CEO of the Wells Fargo & Company, is sworn in prior to testifying before the Senate Banking, Housing and Urban Affairs Committee September 20, 2016 in Washington, DC.

    CEO John Stumpf tells a Senate panel Wells Fargo "failed to fulfill our responsibilities to our customers, our team members and the American public."

  • Stumpf: I accept full responsibility for issues

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal, including taking responsibility and laying out steps for the changing of the bank's sales culture.

  • John Stumpf, CEO, Wells Fargo

    Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal.

  • Wells Fargo CEO John Stumpf speaks at the Bay Area Council Outlook Conference on May 17, 2016 in San Francisco, California.

    As the bank heads to Capitol Hill for testimony on a fake accounts scandal, Wells Fargo may have one thing going its way.

  • Wells Fargo CEO testifying on Capitol Hill

    Committee Chairman Sen. Richard Shelby delivers opening remarks as Wells Fargo Chairman & CEO John Stumpf testifies at the Senate Banking Committee over the fraudulent accounts scandal.

  • Apple Store employees cheer during the grand opening of an Apple Store in Jiefangbei, Yuzhong District on January 31, 2015 in Chongqing, Sichuan province of China.

    The overseas cash stash continues to swell, with only scant hope of it being brought back home as Washington continues to debate repatriation.

  • Mike Mayo

    The apology from Wells Fargo CEO John Stumpf doesn't answer questions about the bank's fake accounts scandal, analyst Michael Mayo says.

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