tag Wells Fargo

Major banks mark first-ever international trade using blockchain tech

EghtesadOnline: The first cross-border transaction between banks using multiple blockchain applications has taken place, Commonwealth Bank of Australia and Wells Fargo & Co said on Monday, resulting in a shipment of cotton to China from the United States.
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Publish Date:24/October/2016 | 08:57

Wells Fargo CEO John Stumpf quits, replaced by Tim Sloan

EghtesadOnline: Wells Fargo & Co's veteran chairman and chief executive officer, John Stumpf, abruptly departed on Wednesday bowing to pressure over its sales tactics that has damaged the bank's reputation and put Wall Street under renewed scrutiny.
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Publish Date:13/October/2016 | 07:41

Religious investors lose faith in Wells Fargo after scandal

EghtesadOnline: A group of nuns and other religiously-affiliated investors have lost faith in embattled Wells Fargo & Co and filed a shareholder resolution calling on the bank to report on the root causes of a fake accounts scandal that led to a $190 million settlement struck with regulators last month.
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Publish Date:10/October/2016 | 16:17

Wells Fargo account scandal extends to small business - U.S. senator

EghtesadOnline: The scandal over improper sales practices at Wells Fargo & Co extended to thousands of small-business owners, according to a U.S. lawmaker, raising questions about the scope the bank's issues with unauthorized accounts.
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Publish Date:05/October/2016 | 08:17

Clinton promises to hold Wells Fargo accountable

EghtesadOnline: Democratic U.S. presidential candidate Hillary Clinton on Monday vowed to hold Wells Fargo accountable for "egregious corporate behavior" in a scandal over employees' opening millions of accounts without customers' knowledge.
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Publish Date:04/October/2016 | 08:19

Clinton expected to hit Wells Fargo in speech on 'bad corporate actors'

EghtesadOnline: U.S. presidential candidate Hillary Clinton on Monday will unveil a plan to make it easier for consumers to take legal action against “bad corporate actors,” citing Wells Fargo & Co and Mylan Pharmaceuticals, according to a campaign official.
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Publish Date:03/October/2016 | 05:30

Wells Fargo CEO forfeits millions as board orders review

EghtesadOnline: Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company's board investigates the bank's sales practices.
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Publish Date:28/September/2016 | 04:51

Former employees file class action against Wells Fargo

EghtesadOnline: Two former Wells Fargo & Co employees have filed a class action in California seeking $2.6 billion or more for workers who tried to meet aggressive sales quotas without engaging in fraud and were later demoted, forced to resign or fired.
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Publish Date:25/September/2016 | 02:39