Wells Fargo Appoints Charles Scharf As CEO, Wall Street CheersWells Fargo named its third CEO in as many years as the bank attempts to put behind it a series of recent scandals.
Hampered By Scandals, Wells Fargo's Profits StagnateWells Fargo, the San Francisco-based consumer banking giant, said its fourth-quarter profits fell slightly on Tuesday as the bank remains restrained by federal regulators, who put a tight leash on it after years of scandals and missteps.
Wells Fargo Has Splurged On Stock Buybacks Since Fake-Accounts ScandalWells Fargo shelled out $7.4 billion to repurchase its stock in the third quarter, nearly triple what it spent the year before.
Wells Fargo 2Q Earnings Fall As Impact Of Scandals LingerWells Fargo & Co., which has been mired in investigations related to its business practices since 2016, said Friday that its second-quarter earnings fell to $5.19 billion from $5.86 billion a year ago.
Wells Fargo Accused Of Misconduct AgainWells Fargo is once again being accused of misconduct, this time because it allegedly used complex financial investments to take advantage of mom-and-pop investors.
Wells Fargo Will Pay $480 Million To Settle Securities Fraud LawsuitWells Fargo will pay $480 million to put to rest claims that the bank misled shareholders about its fake-accounts scandal.
Wells Fargo Now Says 3.5 Million Impacted By Fake Accounts ScandalWells Fargo is now saying 3.5 million customers were impacted by its fake accounts scandal, a dramatic increase from the 2.1 million accounts it originally estimated.