Wells Fargo

A flag waves outside of a Wells Fargo bank branch in San Francisco. (Justin Sullivan/Getty Images)

Wells Fargo To Lay Off 1,800 Mortgage Employees

Spokesman Alfredo Padillo said Thursday that the San Francisco-based bank is cutting jobs in the mortgage department because fewer people than it expected are refinancing their mortgages. The jobs are in locations across the country.

09/20/2013

(CBS)

Napa Financial Advisor Admits To Fraud, Forging $1.8M In Checks

A financial advisor who formerly worked for Morgan Stanley & Co. and then Wells Fargo Advisors has admitted in federal court in San Francisco to forging an elderly widow’s name to $1.8 million worth of checks, prosecutors announced Tuesday.

09/18/2013

A home for sale in Richmond. (CBS)

Judge Declines Banks’ Effort To Block Richmond Eminent Domain Plan On Underwater Mortgages

A federal judge in San Francisco sided with the City of Richmond in its effort to take over mortgages from hundreds of struggling homeowners by denying a request from banks for a preliminary injunction because it’s too premature to decide.

09/12/2013

A home for sale in Richmond. (CBS)

Richmond Moving Forward With Eminent Domain Plan For Underwater Mortgages

The Richmond City Council voted 4 to 3 early Wednesday morning to continue pursuing the controversial plan, which could use the city’s power of eminent domain to force bondholders to sell underwater loans.

09/11/2013

Foreclosed homes on Lucas Street in Richmond (CBS)

Richmond Reconsidering Eminent Domain Plan For Underwater Homeowners

The Richmond City Council Tuesday evening will consider scrapping the city’s controversial plan to buy struggling homeowners’ underwater mortgages.

09/10/2013

A flag waves outside of a Wells Fargo bank branch in San Francisco. (Justin Sullivan/Getty Images)

Wells Fargo To Lay Off 2,300 Workers In Mortgage Unit

Wells Fargo is laying off workers from its mortgage unit, the latest sign that the mortgage refinancing boom has cooled.

08/22/2013

Foreclosed homes on Lucas Street in Richmond (CBS)

Richmond Demands Wells Fargo Drop Lawsuit Over Eminent Domain Mortgage Plan

The mayor of a financially struggling East Bay city and several supporters showed up unannounced Thursday at Wells Fargo Bank’s headquarters to demand it drop a lawsuit fighting a novel plan to refinance hundreds of “underwater” mortgages.

08/15/2013

A foreclosure sign hangs on a fence in front of a foreclosed home on April 6, 2011. (Justin Sullivan/Getty Images)

Banks Sue Richmond To Stop City’s Plan To Help Homeowners With Underwater Mortgages

Two banks are suing the city of Richmond over its plan to invoke eminent domain to help struggling homeowners refinance into new mortgages in line with their homes’ current value.

08/10/2013

(CBS)

Manhunt For Suspect In Burlingame Bank Robbery

A Wells Fargo bank in Burlingame was robbed Saturday afternoon. The suspect is described as a white male, approximately 35 to 45 years old, standing 6 feet tall and weighing 175 pounds.

08/04/2013

A cable car passes by Wells Fargo bank branch in San Francisco, California.  ( Justin Sullivan/Getty Images)

Lower Costs Help Lift Wells Fargo’s 2nd Quarter Profit

Lower expenses and fewer bad loans helped lift Wells Fargo’s second-quarter profit by 20 percent, the company reported Friday.

07/12/2013

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