Nation Dec 20 Wells Fargo to pay $3.7B over consumer loan violations that affected millions of customers Consumer banking giant Wells Fargo agreed to pay $3.7 billion to settle charges that it harmed consumers by charging illegal fees and interest on auto loans and mortgages, as well as incorrectly applied overdraft fees against savings and checking accounts. By Associated Press
Nation Sep 23 Wells Fargo CEO apologizes for comments about finding qualified Black applicants Wells Fargo CEO Charles Scharf said that “there is a very limited pool of black talent to recruit from” in corporate America. By Associated Press
Economy Apr 08 Fed eases limit on Wells Fargo to make more small business loans The Federal Reserve is lifting its lending restrictions on Wells Fargo after some of the bank's thousands of small business customers were shut out of a program that's supposed to throw them a financial lifeline. By Ken Sweet, Associated Press
World Feb 21 Watch 5:17 News Wrap: WHO warns of closing window to contain novel coronavirus In our news wrap Friday, the World Health Organization warns the window of opportunity to contain the international spread of novel coronavirus is closing. South Korea has become the latest front in the outbreak, with officials declaring a health emergency…
Feb 21 Wells Fargo to pay $3 billion to resolve disputes over unauthorized accounts By Ken Sweet, Stefanie Dazio, Associated Press The $3 billion will settle criminal and civil investigations into a long-running practice whereby company employees opened millions of unauthorized bank accounts in order to meet unrealistic sales goals. Continue reading
Dec 28 Wells Fargo pays $575 million to settle state investigations into fake accounts By Associated Press The bank has been under a cloud since 2015 when it acknowledged that employees had opened millions of fake bank accounts for customers in order to meet sales goals. Continue reading
Apr 20 Wells Fargo fined $1 billion for mortgage, auto lending abuses By Ken Sweet, Associated Press Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in a wide-ranging scandal at the banking giant. However, it appears that none of the $1 billion… Continue reading
Apr 13 Wells Fargo acknowledges federal settlement offer of $1 billion By Associated Press The consumer banking giant continues to navigate several investigations related to the opening of fake customer accounts, forcing customers to take unnecessary auto insurance policies, unfairly charging fees tied to mortgage rates and other matters. Continue reading
Oct 19 California launches Wells Fargo criminal investigation over fake accounts By Kristen Doerer The California Department of Justice has launched a criminal investigation into Wells Fargo, which was fined $185 million for illegal banking practices last month. Continue reading