Financials John Stumpf

  • 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..

  • NEW YORK— Wells Fargo said it will split the jobs of chairman and CEO and will make other major changes to the composition of its board of directors in an effort to make the bank more accountable following a scandal over its sales practices. Stumpf was replaced by Tim Sloan, and Stephen Sanger became Wells' independent chairman. In September, the San Francisco- based...

  • 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...

  • Wells Fargo& Co. wants a federal court judge in Utah to order that customers suing the banking giant over improper sales practices submit their claims to binding arbitration. The San Francisco- based company's request applies to a class-action lawsuit filed initially by three Utah residents who at one time had accounts with the bank. Wells Fargo also faces...

  • The proposed class-action lawsuit, filed on Tuesday in federal court in Minnesota, accused the third-largest U.S. bank of "self-dealing and imprudent investing" by steering 401 contributions to its Wells Fargo Dow Jones Target Date funds. The lawsuit, filed by employees led by John Meiners, from St. Louis, seeks to recoup excess fees and unrealized profits...

  • WASHINGTON, Nov 18- A leading U.S. bank regulator on Friday reversed course and positioned the agency to claw back pay of former executives at Wells Fargo& Co after a phony-accounts scandal. The lender must also now seek prior approval before naming new bank leadership, said the Office of the Comptroller of the Currency, the main regulator for federal banks.

  • WASHINGTON, Nov 18- A leading U.S. bank regulator on Friday reversed course and positions the agency to claw back pay of former executives at Wells Fargo& Co after a phony-accounts scandal. The lender must also now seek prior approval before naming new bank leadership, said the Office of the Comptroller of the Currency, the main regulator for federal banks.

  • WASHINGTON, Nov 18- A leading U.S. bank regulator on Friday reversed course and revoked Wells Fargo& Co's right to shield the pay of former executives after a phony-accounts scandal. Wells Fargo in September agreed to pay $190 million to settle charges that bank employees opened as many as 2 million accounts without customers' knowledge. John Stumpf, the departed...

  • A concerned group of New York-based citizens, professionals, artists and activist groups staged a protest vs Wells Fargo's corporate headquarters for crimes against the American public.

    Wells Fargo announced new account openings fell by 44% in October and new credit card applications had plummeted by 50%, NBCNews reports.

  • Jim Cramer on Mad Money.

    Jim Cramer explained the reason he thinks the move in banks could last.

  • A concerned group of New York-based citizens, professionals, artists and activist groups staged a protest vs Wells Fargo's corporate headquarters for crimes against the American public.

    Next up: a report Thursday on October sales, followed by a conference call just after the market opens.

  • Delphi workers leave the Chassis System Needmore Rd. Operations factory in Dayton, Ohio.

    The results of this election should not only be felt in Washington. Business leaders ignore its message at their peril.

  • NEW YORK, Nov 15- Several large Wells Fargo& Co investors say they are looking for changes on the board of directors in the wake of a sales scandal that has caused months of upheaval for the bank and cost its former chief executive his job. Another, Gamco CEO Mario Gabelli, would not discuss the board's performance. Five- the California State Teachers' Retirement...

  • Nov 11- Berkshire Hathaway Inc shares posted one of their best weeks in years, soaring 9.5 percent and touching a record high, even though Chairman Warren Buffett's choice for the White House, Hillary Clinton, was defeated by Donald Trump. The conglomerate's Class A shares closed on Friday up $1,110 at $234,860, a day after surpassing their record set in December...

  • Nov 11- Wells Fargo& Co made a "terrible mistake" by keeping in place sales goals that "corrupted people", billionaire investor Warren Buffett told CNN in an interview, in his first public comment on the bogus account scandal at the bank. "It was a dumb incentive system, which when they found out it was dumb, they didn't do anything about it," Buffett told CNN's Poppy Harlow.

  • Nov 3- Pennsylvania Treasurer Timothy Reese said on Thursday that he suspended Wells Fargo& Co from any treasury investment or trading activities in the state for a year because of its "fraudulent" accounts scandal. The Pennsylvania Treasury said it will continue to monitor the situation and may re-evaluate the bank's status if it showed progress in reforming...

  • Nov 3- Wells Fargo& Co's CEO Tim Sloan said on Thursday a comprehensive review of the bank's sales practices would be done' relatively quickly' and unveiled a series of immediate changes at the bank's retail unit under new division boss Mary Mack. It is also ramping up marketing efforts after having slowed them in the wake of the problems, Mack told an industry...