Financials John Stumpf

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with the Los Angeles City Attorney, the U.S. Comptroller of the Currency and the Consumer Financial Protection Bureau in September over charges that its employees created as many as 2 million accounts without customers' consent.

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with the Los Angeles City Attorney, the U.S. Comptroller of the Currency and the Consumer Financial Protection Bureau in September over charges that its employees created as many as 2 million accounts without customers' consent.

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with the Los Angeles City Attorney, the U.S. Chief Executive Timothy Sloan- who took over after John Stumpf resigned in the wake of the scandal- said he was pleased with the progress the bank has made in customer remediation, as well as its...

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with regulators in September over charges that its employees created 2 million accounts without customers' consent. Net income applicable to shareholders fell 6.4 percent to $4.87 billion, or 96 cents per share, in the fourth quarter, from...

  • Net income applicable to shareholders fell 6.4 percent to $4.87 billion, or 96 cents per share, in the fourth quarter ended Dec. 31, from $5.20 billion, or $1.00 per share, a year earlier. Excluding items, the bank earned $1.03 per share, beating the average analyst estimate of $1.00 per share, according to Thomson Reuters I/B/E/S. The results were for the first full...

  • NEW YORK— Wells Fargo said Friday its profit fell 5 percent in the first full quarter after regulators said that bank employees opened millions of customer accounts fraudulently to meet sales goals. In September, regulators fined the San Francisco- based bank $185 million for opening more than two million unauthorized accounts. The scandal brought...

  • Net income applicable to shareholders fell 6.4 percent to $4.87 billion, or 96 cents per share, in the fourth quarter ended Dec. 31, from $5.20 billion, or $1.00 per share, a year earlier. Analysts on average had expected the bank to earn $1.00 per share, according to Thomson Reuters I/B/E/S. The results were for the first full quarter under Chief Executive Timothy...

  • Warren Buffett

    10 people profit $8.9 billion from Trump rally, reports USA Today.

  • Jan 10- Wells Fargo& Co has unveiled a new compensation structure for branch bankers as it tries to recover from a scandal driven by aggressive sales targets that slammed its share price and led to the resignation of Chief Executive John Stumpf. The new plan creates incentives based on customer service rather than sales goals, is longer-term in nature and...

  • A customer leaves an ATM at a Wells Fargo branch in Denver.

    Wells Fargo CEO Tim Sloan lays out the five ways that technology is altering the face of financial services.

  • President-elect Donald Trump (L) dines with Mitt Romney (R) at Jean-Georges restaurant at Trump International Hotel and Tower.

    The New York Times looks back at the year that was to toast and roast the year's deal makers and look ahead to what may come next.

  • Dec 23- The U.S. Department of Justice has subpoenaed a high-profile whistleblower in its criminal investigation into Wells Fargo& Co's opening of accounts without customer permission. U.S. prosecutors in San Francisco have asked Wells Fargo banker Yesenia Guitron, who lost a private lawsuit against the fourth-largest lender, to testify before a grand jury...

  • NEW YORK/ WASHINGTON, Dec 13- U.S. officials on Tuesday limited Wells Fargo& Co's ability to grow its business, punishing the bank for not having a sufficient plan to protect markets in the case of bankruptcy. Wells Fargo is one of eight leading banks that must outline how they would be unwound in an orderly way in bankruptcy. Wells Fargo may submit an amended living...

  • Coca Cola announced Friday its chief is stepping down next year. Turnover is up across the S&P 500, according to data from Equilar.

  • Dec 8- Wells Fargo& Co Chairman Stephen Sanger and Vice Chair Elizabeth Duke have been named to a four-member committee that will lead an internal investigation into the bank's recent sales scandal, a person familiar with the matter said on Thursday. Rounding out the special committee's leadership, the person said, are Enrique Hernandez, chair of the board of...

  • The amendment also calls for the chairman and vice chairman of the board to be independent directors, and provides an annual retainer of $250,000 for the chairman and $100,000 for the vice chairman. Investors, including the state treasurers of Connecticut and Illinois, had filed a resolution calling on the bank to require an independent board chair..

  • Investors, including the state treasurers of Connecticut and Illinois, called on the bank on Tuesday to require an independent board chair, saying the bank needs stronger oversight in the wake of a scandal over fake customer accounts. The scandal led to the departure of former chief executive John Stumpf. Wells Fargo reached a $190 million regulatory...

  • Nov 30- James Strother, Wells Fargo& Co's general counsel, who had originally planned to retire at year-end, will stay on indefinitely in the position to deal with fallout from the bank's sales scandal, according to a bank spokesman. "In light of recent events the decision was made to have Jim Strother remain with the company and continue to serve as our general...

  • Nov 29- Investors, including the state treasurers of Connecticut and Illinois, called on Wells Fargo& Co to require an independent board chair, saying the bank needs stronger oversight in the wake of a scandal over fake customer accounts. Although Wells Fargo already has shuffled its leadership structure, Connecticut Treasurer Denise Nappier on Tuesday said...

  • Nov 29- Investors, including the state treasurers of Connecticut and Illinois, called on Wells Fargo& Co to require an independent board chair, saying the bank needs stronger oversight in the wake of a scandal over fake customer accounts. Although Wells Fargo already has shuffled its leadership structure, Connecticut Treasurer Denise Nappier on Tuesday said...