Financials
John Stumpf
NEW YORK— Wells Fargo will pay $1 billion to federal regulators to settle charges tied to misconduct at its mortgage and auto lending business, the latest punishment levied against the banking giant for widespread customer abuses. In a settlement announced Friday, Wells will pay $500 million to the Office of the Comptroller of the Currency, its main national...
Federal regulators are poised to impose a $1 billion penalty on Wells Fargo for a variety of alleged misdeeds, the New York Times reports.
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"Wells Fargo's substantial underperformance has created a buying opportunity," analyst Saul Martinez says.
DETROIT, March 15- Wells Fargo& Co Chief Executive Tim Sloan on Thursday defended a 35 percent gain in his latest compensation package, while describing comments last year by Democratic U.S. Senator Elizabeth Warren, who had called for his ouster, as "inappropriate." Its not surprising I disagree with almost everything Elizabeth Warren says.
March 14- Wells Fargo& Co Chief Executive Tim Sloan's made $17.6 million in 2017, up 35 percent from the previous year, despite opting out of the bank's annual incentive plan. Sloan took over the top job in October 2016 after former CEO John Stumpf was forced to resign in the wake of the scandal. Chief Financial Officer John Shrewsberry's compensation for 2017 was...
March 14- Wells Fargo& Co Chief Executive Officer Tim Sloan's total compensation for 2017 was $17.6 million, about 35 percent higher than the previous year, the third largest U.S. bank said in a regulatory filing http://bit.ly/2pcD4QI on Wednesday. Sloan was named to Wells Fargo's top job in October 2016 after former CEO John Stumpf was forced to resign in the...
WASHINGTON, Feb 2- The Federal Reserve ordered Wells Fargo on Friday to halt its growth until it fixes systemic compliance problems that led to consumer abuses, in an unprecedented move that saw the lender's shares fell sharply in after hours trading. The Federal Reserve Board said in a statement that it would restrict the growth of Wells Fargo, the country's...
NEW YORK, Jan 12- Wells Fargo& Co is not certain it has fully uncovered and fixed all problems related to a long-running sales scandal that has hurt the bank's reputation and sideswiped its efforts to cut costs, Chief Executive Tim Sloan said on Friday. The San Francisco- based company has been working to get to the bottom of its problems for more than a year, after...
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NEW YORK, Jan 12- Wells Fargo& Co is not certain it has fully uncovered and fixed all problems related to a long-running sales scandal that has hurt the bank's reputation and sideswiped its efforts to cut costs, Chief Executive Tim Sloan said on Friday. The San Francisco- based company has been working to get to the bottom of its problems for more than a year, after...
Scott Siefers, Sandler O'Neill bank analyst, breaks down Wells Fargo's quarterly numbers and provides his outlook on the big bank.
In October, a federal judge said current and former Wells Fargo officers and directors, including Chief Executive Tim Sloan, must face nearly all of a lawsuit by shareholders seeking to hold them personally liable for sales abuses. Many lawsuits have been filed against the San Francisco- based bank, including on behalf of customers, and several top officials,...
Nov 29- New Mexico's attorney general on Wednesday announced plans to ask Wells Fargo& Co to pay damages on behalf of customers who were victims of a scandal in which the bank created as many as 3.5 million unauthorized accounts. New Mexico Attorney General Hector Balderas said his investigation showed that Wells Fargo's corporate management used...
Wells Fargo has rehired more than one-third of the employees it axed in the wake of the bank's fake accounts scandal, CEO Timothy Sloan said.
Warren Buffett, Berkshire Hathaway chairman and CEO, weighs in on the Wells Fargo scandal.
The "Squawk on the Street" crew weighs in on Sen. Elizabeth Warren's call to oust Wells Fargo directors.
But the Berkshire Hathaway CEO tells CNBC the fundamental earning power of the bank has not been hurt.
CNBC's Leslie Picker reports on what to expect when Wells Fargo board members meet today in Ponte Vedra Beach, Florida.
The bank's shares were down more than 2 percent in premarket trading following the bank's announcement.
An internal report released on Monday suggests there were red flags directors should have focused on earlier, reports Breakingviews.
Wells Fargo's last CEO may have mishandled the cross-selling scandal, but investors did well during his tenure, company CEO Sanger said.
