(Reuters) – A Chicago fund supervisor that suffered catastrophic losses in a market plunge this yr has blamed the actions of its dealer, a Wells Fargo & Co unit, in line with courtroom paperwork filed on Wednesday. FILE PHOTO – The signal at a Wells Fargo banking location is pictured in Pasadena, California, U.S., September […]
(Reuters) – Wells Fargo & Co has agreed to pay $1 billion to settle with U.S. regulators who stated it abused clients in its auto and mortgage companies, the financial institution and regulators stated on Friday. FILE PHOTO: A Wells Fargo department is seen within the Chicago suburb of Evanston, Illinois, U.S., February 10, 2015. […]
(Reuters) – Proxy advisory agency Institutional Shareholder Services (ISS) on Friday beneficial Wells Fargo & Co shareholders vote for all Wells Fargo board nominees on the financial institution’s annual assembly on April 24. FILE PHOTO – The signal outdoors the Wells Fargo & Co. financial institution in downtown Denver April 13, 2016. REUTERS/Rick Wilking The […]
NEW YORK (Reuters) – Massachusetts Secretary of the Commonwealth William Galvin stated Thursday his workplace is investigating attainable buyer abuses by staff of Wells Fargo & Co’s brokerage division. Galvin’s investigation comes every week after Wells Fargo introduced its personal inner evaluation into whether or not staff at its brokerage, Wells Fargo Advisors, really helpful […]
WASHINGTON/NEW YORK (Reuters) – Wells Fargo & Co detailed new regulatory restrictions imposed by the U.S. Federal Reserve on Friday that despatched its shares down sharply in after-hours buying and selling, because the third-largest U.S. financial institution continues to reel from a gross sales scandal that erupted in 2016. Wells is just not allowed to […]
The financial institution informed Congress final yr that it had absolutely disclosed misconduct. But later studies point out it knew extra, prompting a name for brand spanking new hearings. SOURCE: NYT > DealBook – Read whole story here.
A topsy-turvy August has reached its finish. The Nasdaq Composite rallied, extending a report streak that was earlier in jeopardy as lower-risk investments comparable to gold and Treasury bonds appreciated. Volatility re-emerged within the inventory market and the power sector’s stoop deepened because the Gulf Coast oil business took a heavy blow from Hurricane Harvey. Here’s some […]
The financial institution’s assessment of probably fraudulent accounts additionally discovered a brand new drawback: clients who have been signed up for its on-line invoice cost service with out their information. SOURCE: NYT > DealBook – Read complete story here.
Amid scandals, regulatory investigations and shareholder unrest, former Fed governor Elizabeth Duke will take one of many largest jobs in banking as Wells Fargo’s subsequent chair. The nomination immediately makes Duke some of the highly effective lady in finance.SOURCE: Forbes – Mutual Funds – Read whole story here.
The Federal Reserve Bank of San Francisco is investigating the lender for not refunding automotive consumers who purchased particular insurance coverage and repaid their loans early. SOURCE: NYT > DealBook – Read whole story here.