Wells Fargo
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Wells Fargo's Big Fine Puts Fresh Focus on Power of Trump Tweets
EghtesadOnline: For years, Republican lawmakers and regulators have groused about big corporate fines, arguing that they mostly punish blameless shareholders, not the executives who are responsible…
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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…
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Sales scandal costs Wells Fargo; JPMorgan and Citi please Wall Street
EghtesadOnline: JPMorgan Chase and Citigroup trounced third-quarter estimates on Friday on a sharp rebound in trading revenues while Wells Fargo & Co barely beat expectations as a sales scandal…
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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…
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Wells Fargo's new CEO faces immediate test
EghtesadOnline: Tim Sloan will not have much time to prepare his pitch for Wall Street.
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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…
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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…
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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…
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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…
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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…
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Wells Fargo hit with class action lawsuit over sales practices
EghtesadOnline: A shareholder class action lawsuit was filed against Wells Fargo & Co on Monday that alleged the firm misled investors about its financial performance and the success of its sales…
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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…
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Wells Fargo faces proposed class action over bogus accounts
EghtesadOnline: Wells Fargo & Co, embroiled in a scandal over the opening of sham accounts, was sued on Friday by customers who accused the bank of fraud and recklessness for its behavior.