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Financials John Stumpf

  • April 27- Wells Fargo& Co is making several changes to its government relations and public policy unit in what its new leader said was a response to its steady growth since the financial crisis. The bank has had a difficult seven months since a sales scandal that severely damaged its reputation and led to the departure of then-Chairman and CEO John Stumpf in...

  • WASHINGTON, April 25- Two U.S. Senate Democrats are asking a U.S. audit watchdog to review whether KPMG failed to disclose or prevent fraud when it audited Wells Fargo's books during the time period that the bank's sales force was opening two million unauthorized accounts. In an April 25 letter to Public Company Accounting Oversight Board Chairman James Doty,...

  • WASHINGTON, April 25- Two U.S. Senate Democrats are asking a U.S. audit watchdog to review whether KPMG failed to disclose or prevent fraud when it audited Wells Fargo's books during the time period that the bank's sales force was opening two million unauthorized accounts. In an April 25 letter to Public Company Accounting Oversight Board Chairman James Doty,...

  • PONTE VEDRA BEACH, Fla./ BOSTON, April 25- Wells Fargo& Co shareholders showed displeasure with the scandal-hit bank's board on Tuesday, offering scant support for a dozen directors, including Chairman Stephen Sanger, in a vote capping a contentious annual meeting. "Wells Fargo stockholders today have sent the entire Board a clear message of dissatisfaction,"...

  • PONTE VEDRA BEACH, Fla./ BOSTON, April 25- Wells Fargo& Co shareholders showed displeasure with the scandal-hit bank's board on Tuesday, offering scant support for several directors, including Chairman Stephen Sanger, in a vote capping a contentious annual meeting. "Wells Fargo stockholders today have sent the entire Board a clear message of dissatisfaction,"...

  • PONTE VEDRA BEACH, Fla., April 25- Wells Fargo& Co's annual meeting was repeatedly interrupted on Tuesday by angry shareholders seeking answers about the bank's sales practices scandal ahead of a vote that could oust the majority of its board. said the first shareholder, Bruce Marks, chief executive of Neighborhood Assistance Corporation of America, before...

  • PONTE VEDRA BEACH, Fla., April 25- Wells Fargo& Co's annual meeting was repeatedly interrupted on Tuesday by angry shareholders seeking answers about the bank's sales practices scandal ahead of a vote that could oust the majority of its board. The meeting went into a brief recess after a shareholder made what Chairman Stephen Sanger called a "physical approach"...

  • PONTE VEDRA BEACH, Fla., April 25- Wells Fargo& Co's annual meeting turned raucous when it was repeatedly interrupted by angry shareholders on Tuesday as the bank's chairman and chief executive tried to calm nerves ahead of a vote that could oust the majority of its board. At least one shareholder was removed and the meeting went into recess after he made what...

  • Fireworks expected at Wells Fargo's annual meeting

    CNBC's Leslie Picker reports on what to expect when Wells Fargo board members meet today in Ponte Vedra Beach, Florida.

  • "Wells Fargo stockholders today have sent the entire board a clear message of dissatisfaction," Sanger said. The three who got 99 percent were CEO Tim Sloan— who got his job in October after former CEO John Stumpf departed— and two independent directors who started earlier this year. Wells' nearly three-hour long shareholder meeting was interrupted several times...

  • A dozen of the 15 directors on the ballot face negative recommendations from influential proxy adviser Institutional Shareholder Services, which argued the group, including Chairman Stephen Sanger, failed in their oversight duties. But in practice, directors who win with less than 80 percent support should consider exiting the board, said Charles Elson, a...

  • The longtime Fox News host is in line to get up to $25 million, according to media reports, after a string of sexual-harassment allegations led to his ouster. —Roger Ailes, Fox News, $40 million. It was only last summer that the other man who helped build Fox News into a ratings behemoth had his own departure from the company following allegations of sexual harassment.

  • April 21- Wells Fargo& Co said it would expand its class action settlement related to the lender's retail sales practices to include customer accounts as early as May 2002. The lender said it would add $32 million to the previous agreement for a total settlement of $142 million. Wells Fargo has been working to win back customer confidence following a sales...

  • BOSTON, April 21- A high-stakes shareholder vote at Wells Fargo& Co next week will determine whether the bank has done enough to retain investor confidence after its phony-account scandal, and whether a leading proxy adviser wields enough clout to help oust most of its board. In one of its toughest shareholder notes, Institutional Shareholder Services...

  • NEW YORK, April 19- Wells Fargo& Co's largest investor, Warren Buffett, has likely already voted his shares to support the bank's recommendations at its contentious annual shareholder meeting next week, a representative told Reuters on Wednesday, which include reinstating most of the board's directors. Wells Fargo, the fourth-largest U.S. bank, has for months...

  • NEW YORK— The nation's big bank regulator is faulting itself for failing to address the problems at Wells Fargo before it was too late. Bank examiners saw sales problems at Wells Fargo as early as 2010 and met with executives but declined to investigate further, the inspector general at the Office of the Comptroller of the Currency said Wednesday.

  • "Any major occurrence in the industry is going to impact us all," said Richard Hunt, president of the Consumer Bankers Association, the trade and lobbying group that organized the recent CBA Live gathering. The board also reclaimed another $75 million in pay from former CEO John Stumpf and former community bank executive Carrie Tolstedt, saying they dragged...

  • April 17- Wells Fargo& Co Chief Executive Tim Sloan and Chairman Stephen Sanger together bought nearly 100,000 shares of the company's stock as the bank tries to bounce back from a sales scandal that tarnished its once-spotless image as an industry leader. Sloan, who became CEO after the scandal led to the resignation of his predecessor, John Stumpf, bought...

  • April 17- Wells Fargo& Co said on Monday the State of Nevada had extended its banking agreement with the scandal-hit lender until 2021.. Several states, including California, Illinois and Ohio, have severed ties with the bank following a sales scandal that cost former Chief Executive John Stumpf his job. Wells Fargo's agreement with Nevada also comes with a...

  • Tim Sloan, CEO of Wells Fargo.

    The bank's shares were down more than 2 percent in premarket trading following the bank's announcement.