Wells Fargo bond saleswoman sues over ‘unapologetically sexist’ workplace
By Jonathan Stempel (Reuters) – Wells Fargo was accused of sex discrimination in a lawsuit by a bond saleswoman who said the fourth-largest U.S. bank denied pay and promotions available to men…
Wells Fargo CEO expects severance expenses to exceed $750 million
By Nupur Anand NEW YORK (Reuters) – Wells Fargo CEO Charlie Scharf told investors on Tuesday he expects to book higher-than-anticipated severance expenses between $750 million to a little less than $1…
Wells Fargo accused of not paying overtime at shortstaffed US branches
By Daniel Wiessner (Reuters) – A Wells Fargo & Co employee filed a lawsuit on Thursday accusing the bank of depriving hundreds of its U.S. branch workers of overtime pay, as the…
Fargo Man Sentenced to 35 Years in Prison for Murder and Manslaughter in Navajo Nation
ALBUQUERQUE, N.M. – Alexander M.M. Uballez, United States Attorney for the District of New Mexico, and Raul Bujanda, Special Agent in Charge of the Federal Bureau of Investigation’s Albuquerque Field Office, announced…
Wells Fargo sees economic “soft patch” capping further S&P 500 gains
By David Randall NEW YORK (Reuters) – An upcoming “economic soft patch” will likely weigh on the recent U.S. equity rally and stall sectors such as consumer discretionary and small-cap stocks, strategists…
US regulators push Wells Fargo to improve financial crime monitoring – WSJ
(Reuters) – U.S. regulators are pushing Wells Fargo to improve its monitoring system to detect criminal activity at the bank, the Wall Street Journal reported on Thursday, citing people with knowledge of…
Wells Fargo to cut less than 50 investment banker jobs – source
(Reuters) – Wells Fargo has let go of less than 50 bankers from its corporate and investment banking unit as part of year-end pruning, a source familiar with the matter said on…
Armed Robbery at Annapolis Wells Fargo ATM Under Investigation
Annapolis, MD – A concerning incident unfolded on October 13, 2023, at around 4:30 p.m. at the Wells Fargo branch located at 171 Jennifer Road in Annapolis. Authorities reported that an armed…
Wells Fargo rolls out financial planning tool to almost 70 million customers
By Nupur Anand NEW YORK (Reuters) – Wells Fargo will expand access to a financial planning tool to its nearly 70 million customers after initially offering it to wealth clients earlier this…
Wells Fargo sells $2 billion of private equity investments
(Reuters) – Wells Fargo said on Friday it had sold about $2 billion of its private equity investments as the bank aims to sharpen focus on its core businesses. Lenders have been…
Wells Fargo CFO expects more layoffs ahead
By Nupur Anand NEW YORK (Reuters) – Wells Fargo could see its headcount decline further as it aims to improve efficiency, Chief Financial Officer Mike Santomassimo said on Tuesday. The bank has…
Wells Fargo hires Ford from Credit Suisse as head of equity capital markets
NEW YORK (Reuters) – Wells Fargo hired former Credit Suisse banker Jill Ford as its head of equity capital markets, the bank said in a statement. Ford is based in New York and…
Wells Fargo hires Credit Suisse veteran as head of financial sponsors
(Reuters) – U.S. bank Wells Fargo said on Monday Malcolm Price has joined its corporate and investment bank (CIB) as the head of financial sponsors, after 35 years at Credit Suisse. During…
Wells Fargo pledges $60 million for worker re-entry program
By Nupur Anand NEW YORK (Reuters) – Wells Fargo on Wednesday said it may commit $60 million to Concordance, a nonprofit organization that helps workers with criminal records re-enter the workforce. The…
Wells Fargo approves new $30 billion share buyback program
(Reuters) – Wells Fargo said on Tuesday its board had authorized a new share buyback program of up to $30 billion. The bank’s shares rose 1% in extended trading after earlier jumping…
JPMorgan, Wells Fargo expect deposits to extend Q2 declines
By Saeed Azhar and Nupur Anand NEW YORK (Reuters) – Deposits at U.S. banking giants including JPMorgan and Wells Fargo are expected to extend their second-quarter decline as consumers keep spending and…
Wells Fargo promotes head of Native American banking to managing director
NEW YORK (Reuters) – Wells Fargo promoted Dawson Her Many Horses, head of Native American Banking, to managing director, one of the first enrolled tribal members to reach that rank at a…
Suspect At Large Following Bank Robbery at Wells Fargo
BEAR, DE – Delaware State Police are currently investigating a bank robbery that occurred at Wells Fargo last Thursday evening. Troopers were dispatched to 1601 Governors Place around 5 p.m., following a…
Wells Fargo CFO expects upside in net interest income
NEW YORK (Reuters) – Wells Fargo & Co expects an upside in net interest income going ahead, Chief Financial Officer Mike Santomassimo said on Tuesday. The bank had earlier issued guidance for…
Robbery Reported at Wells Fargo ATM in Wilmington
WILMINGTON, DE – A serious incident occurred at a Wells Fargo ATM on Monday, which is now under active investigation by the Delaware State Police. Two male suspects, believed to be between…
Wells Fargo CEO says regional banks are strong, but expects turmoil
By Carolina Mandl and Svea Herbst-Bayliss BEVERLY HILLS, California (Reuters) – Wells Fargo & Co CEO Charlie Scharf said on Tuesday the banking industry is “extremely strong” but added he expects more…
Wells Fargo to pay $97 million for sanctions compliance failures
By Hannah Lang (Reuters) -Wells Fargo & Co will pay fines of about $97.8 million for inadequate oversight of its compliance risks, enabling the apparent violation of U.S. sanctions against Iran, Syria…
Wells Fargo CEO Scharf’s 2022 pay unchanged at $24.5 million
(Reuters) – Wells Fargo & Co Chief Executive Officer Charles Scharf’s total compensation for 2022 was unchanged at $24.5 million, the Wall Street bank said in a regulatory filing on Thursday. Scharf’s…
FARGO, ND, MAN CONVICTIED OF KIDNAPPING AND ATTEMPTED WITNESS TAMPERING
FARGO – United States Attorney Mac Schneider announced that on December 9, 2022, following a three-day trial, a jury returned guilty verdicts against Sharmake Mohamed Abdullahi, age 31 of Fargo, ND, for…
Wells Fargo sees global growth slowing to 1.7% next year
(Reuters) – Wells Fargo is expecting the global economy to grow at a slower pace in 2023, joining other big American banks that have tempered their estimates this year and rekindled fears…
Wells Fargo starts small-dollar loans amid overdraft scrutiny
By Lananh Nguyen NEW YORK (Reuters) – Wells Fargo & Co introduced small-dollar loans to customers online, the bank said Wednesday, as overdraft fees draw greater scrutiny in the United States. The…
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