updated Wed. April 17, 2024
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Charlotte Business Journal
April 19, 2018
In two weeks, the Wells Fargo Championship returns to Quail Hollow Club for the first time since 2016. The bigger question is whether it will still be here two years from now. Based on interviews with bank and club executives Wednesday, the answer is more and more looking like a yes. Quail HollowÃâà...
American Banker
April 19, 2018
Wells Fargo is due to get hit with a $1 billion fine as early as Friday morning related to its alleged overcharging of customers for auto insurance and home loans. But it is far from the San Francisco bank's only fine in recent years, and there may be more on the way. Following is a roundup of what Wells hasÃâà...
On Wall Street
April 19, 2018
Wells Fargo's advisor attrition problems don't appear to be ending any time soon. In the latest loss, a team managing $925 million in client assets jumped to RBC. “After careful consideration, we decided to join RBC Wealth Management because of its reputation for integrity, corporate responsibility andÃâà...
New York Times
April 19, 2018
In February, the Federal Reserve took Wells Fargo to the woodshed, ruling that the bank could not expand its balance sheet beyond the nearly $2 trillion in total assets that it reported at the end of 2017; it's believed to be the first time the Fed has imposed such a curb on growth at a major bank. “We cannotÃâà...
New York Times
April 19, 2018
Federal regulators are poised to impose a $1 billion penalty on Wells Fargo for a variety of alleged misdeeds, including forcing customers to buy auto insurance policies that they didn't need, according to people briefed on the regulatory action. The expected penalty, levied by the Consumer FinancialÃâà...
New York Times
April 19, 2018
U.S. regulators are expected to fine Wells Fargo $1 billion for a range of alleged misdeeds, in the biggest bank penalty of the Trump era. The company is accused of forcing customers to buy auto insurance policies that they didn't need and of improperly charging mortgage customers, according to peopleÃâà...
WRAL Tech Wire
April 19, 2018
WINTERVILLE — Wells Fargo will layoff 593 employees at its Winterville service center at 1451 Thomas Langston Road, according to a filing with the N.C. Department of Commerce. The notice said affected employees may receive a formal, written notice between June 21 and Oct. 18. [Employees were toldÃâà...
LA Downtown News Online
April 19, 2018
In December, construction crews set about a renovation of the atrium inside the Wells Fargo Center on Bunker Hill. An uproar from preservationists ensued when workers removed water elements designed by landscape architect Lawrence Halprin as part of his Los Angeles Open Spaces Network.
Financial Planning
April 3, 2018
A former longtime Wells Fargo broker has won a $220,000 arbitration award from his former employer for wrongfully terminating him and making a false statement on his Form U5, according to the arbitration panel's recent decision. The broker, Gary Helbling, disputed Wells Fargo's claim on his Form U5 thatÃâà...
Los Angeles Times
April 3, 2018
The Federal Reserve's top official on the West Coast has been chosen to head its powerful New York regional bank, a controversial choice because he helped regulate Wells Fargo & Co. during its fake accounts scandal and is another white male at an institution critics complain sorely lacks diversity.
bankinnovation.net
April 3, 2018
Open Banking is a buzzword — among bankers, anyway. Most customers have never heard of it, though they do want access to their bank account in other products, like the iTunes Store, Amazon, or Mint.com. Ron Shevlin noted on Twitter: I bet if I surveyed consumers and asked “Do you wantÃâà...
PYMNTS.com
April 3, 2018
“Wells Fargo Business Payroll Services customers who use the Evolution payroll platform will continue [to] experience the same security and service they have come to expect, along with the added opportunity to benefit from Asure [Software's] full suite of innovative products and services,” said Asure Software CEO PatÃâà...
National Mortgage News
April 3, 2018
A pair of the nation's largest banks, Citigroup and Wells Fargo, made changes to their mortgage banking executive teams. Citigroup promoted David Smith to chief operating officer of its newly combined U.S. retail banking and mortgage businesses. In February, Citi announced it is integrating its mortgageÃâà...
Market Realist
April 3, 2018
Wells Fargo underperformed peers (XLF) in 2017 due to fake account opening and other compliance controversies. The bank has also implemented strict underwriting guidelines and commands higher net interest margins or NIMs than peers as a result, having seen lower credit offtake. Weakness in theÃâà...
ABL Advisor
April 3, 2018
Patterson-UTI, Inc. announced that the company has entered into a $600 million, five-year credit agreement with a group of financial institutions led by Wells Fargo Bank, National Association. The credit agreement amends and restates the company's 2012 credit agreement. The credit agreement is aÃâà...
ABL Advisor
April 2, 2018
Delek US Holdings, Inc. announced that it has closed on a new $1.0 billion senior secured revolving ABL credit facility and a $700.0 million senior secured term loan B. These Facilities are expected to simplify the debt structure as they consolidate borrowings at the Delek US Holdings, Inc. level, whileÃâà...
Mortgage Professional America
April 2, 2018
Chicago may now only pursue part of its initial claim against Wells Fargo in a predatory mortgage lending lawsuit after a federal judge dismissed several of its claims, Reuters has reported. US District Judge Gary Feinerman limited the allowable award of federal Fair Housing Act claims to the increase inÃâà...
WAVY-TV
April 2, 2018
NORFOLK, Va. (WAVY) -- The Wells Fargo Center will light up the Downtown Norfolk skyline in blue this week in support of World Autism Awareness Day. A news release from S.L. Nusbaum Realty Co. said Wells Fargo will be recognizing World Autism Awareness Day by illuminating their location inÃâà...
Kenai Peninsula Online
April 2, 2018
One of Alaska's three marijuana testing labs has been shut down by Wells Fargo bank, leaving the state's growers with only two options for state-mandated testing. In a social media post Thursday morning, testing lab Steep Hill of Anchorage declared, “We are sorry to announce that Steep Hill Alaska will beÃâà...
FOX43.com
April 2, 2018
YORK — York City Police arrested a bank robbery suspect shortly after the alleged incident occurred Friday. Police were dispatched to Wells Fargo Bank in York City just after 9 a.m. for a reported bank robbery. Officers learned that the suspect gave the bank teller a note that stated, “I want All The fifties AndÃâà...
AdvisorHub
April 2, 2018
Two brokers in Rhinebeck, N.Y., have left Wells Fargo Advisors to start their own independent firm affiliated with Raymond James Financial Services. Katherine Reisfeld confirmed on Monday that she and her partner, Barbara Boccuto, along with a client associate, left Wells, where they were managingÃâà...
Palm Beach Post
April 2, 2018
Palm Beach Gardens police are looking for a man who robbed a Wells Fargo Bank on Monday, April 2, 2018. (Provided by Palm Beach Gardens police). PALM BEACH GARDENS. City police are looking for a man who robbed a Wells Fargo in Palm Beach Gardens at about 9:30 Monday morning.
York Daily Record/Sunday News
April 2, 2018
Just after 9 a.m., police responded to the Wells Fargo Bank, 12 E. Market St., and quickly arrested Andre Lamar Henderson, to the rear of another business in the 100 block of South George Street, documents state. Henderson, 44, of the 500 block of South Pershing Avenue, York, faces one count of robbery,Ãâà...
Charlotte Business Journal
April 2, 2018
Wells Fargo & Co. (NYSE: WFC) stock prices continue to struggle in the wake of the bank's accounts scandal — hitting a six-month low point just over a week ago. In the past year, Wells Fargo stocks bottomed out at $49.58 per share in September 2017. Fast-forward to late March, and stocks dropped to theÃâà...
Investopedia (blog)
April 2, 2018
Worries that the technology industry is about to see more regulation in the wake of the Facebook, Inc. (FB) data scandal and reports that President Donald Trump hates Amazon.com Inc. (AMZN) are reaching fever pitch, but Wells Fargo says the concern is out of control. Wells Fargo, no stranger to its ownÃâà...
Ventura County Star
April 1, 2018
Wells Fargo & Company has made an additional $750,000 available for recovery efforts related to the Thomas Fire and Montecito mudslides. The company presented $250,000 on March 16 to four nonprofits: $75,000 each to Women's Economic Ventures, the Ventura County Community DevelopmentÃâà...
CBS Philly
April 1, 2018
PHILADELPHIA (CBS) — The Wells Fargo Center has partnered with the nationally recognized non-profit KultureCity to ensure an accommodating and positive experience for guests who may have sensory issues. The partnership is an effort to create an inclusive and welcoming experience for fans of theÃâà...
Juneau Empire
April 1, 2018
Brian Kennedy, a spokesman for Wells Fargo in Alaska, said by email, “It is currently Wells Fargo's policy not to knowingly bank marijuana businesses, based on federal laws under which the sale and use of marijuana is still illegal.” Alaska regulations require marijuana sold in the state to be tested forÃâà...
FirstCoastNews.com WTLV-WJXX
April 1, 2018
Jacksonville Sheriffs Office needs your help in identifying a bank robbery suspect who allegedly robbed the Wells Fargo in the 4300 block of Blanding Boulevard on Saturday. Witnesses advised the suspect entered the bank and passed a note to the teller demanding money. The suspect indicated he had aÃâà...
HousingWire
March 30, 2018
... with a former Wells Fargo employee.. DeVito took over as head of mortgage production at Wells Fargo in 2015, after previously leading the bank's mortgage servicing operation. Hilzendeger, who's spent 28 years with Wells Fargo, took DeVito's place as the bank's head of mortgage servicing at that time.
GreenBiz
March 30, 2018
Even though progress in Washington, D.C., seems to have stalled, pilots involving electric and autonomous vehicles are accelerating, especially in California. John Boesel, president and CEO of advocacy group CALSTART, discusses the shift from policy discussions to real progress. Plus, why theÃâà...
CNBC
March 29, 2018
Fears that Donald Trump is set to go after Amazon and enforce tighter regulation on the wider tech industry are overblown, according to a Wells Fargo analyst. Amazon dropped 3 percent on Wednesday after a report from Axios, citing anonymous sources, said that Trump wants to "go after" the e-commerceÃâà...
Zacks.com
March 28, 2018
Wells Fargo was charged of making them borrow loans that were too costly for them, which resulted in higher fees, frequent defaults and foreclosures. Also, the bank was accused of offering bonuses to employees who were successful in giving such loans. In the lawsuit, the county also alleged Wells FargoÃâà...
Investorplace.com
March 28, 2018
Have you taken a look at the five-year chart of Wells Fargo & Co (NYSE:WFC) recently? I did before deciding what I wanted to write about for this article. I quickly realized that Wells Fargo stock has gone sideways since June 2014; its four-year anniversary just weeks away. Berkshire Hathaway Inc.
South China Morning Post
March 28, 2018
Wells Fargo is in talks with its gun-making clients to pass on feedback from its employees, investors and others, Wells CEO Timothy Sloan said on Tuesday. Sloan did not say what Wells Fargo might do, and he declined to name the gun makers, citing client confidentiality. But Wells Fargo is now the latestÃâà...
PYMNTS.com
March 28, 2018
Feinerman instead called those accusations “ripples” that “flow far beyond” Wells Fargo's alleged misconduct. He went on to cite a May 2017 U.S. Supreme Court decision, which involved similar claims by the city of Miami against Wells Fargo and Bank of America. That ruling allowed cities to pursue FHA claims as long asÃâà...
CNBC
March 28, 2018
Wells Fargo CEO Tim Sloan was skeptical in an interview over whether banks should cut off business with gun retailers. Multiple businesses, including Wells competitor Citigroup, have restricted their dealings with firearms-related companies. Wells Fargo is the leading financier for the gun industry.
WCTI12.com
March 28, 2018
"We were surprised and disappointed to hear that Wells Fargo will be closing its financial services center located here in Greenville," Connelly said in a press release. "The city takes pride in its ability to establish business relationships and partnerships with companies that appreciate and are committed to Eastern NorthÃâà...
CNBC
March 28, 2018
Just as the Federal Reserve pares back its bond holdings, the U.S. government is bringing more to market. That could have a major impact on bond yields, says one Wells Fargo strategist. "The government bond supply, which is surging now, is really the big difference maker," Michael Schumacher, head ofÃâà...
CNBC
March 27, 2018
Elizabeth Warren, a Massachusetts Democrat who has been a staunch banking critic, particularly on issues relating to the Wells Fargo fake account scandal, said she wants a chance to grill Williams before he is appointed. "Mr. Williams' track record raises several questions, including about his fitness toÃâà...
Seeking Alpha
March 27, 2018
The FTC confirmation of a probe into Facebook's (NASDAQ:FB) handling of user data is not a surprise, says analyst Ken Sena. Yes, there will surely be some fine, but Sena can't think of any scenario in which the legal or business impact is anywhere near the size of the recent selloff (more than $60B inÃâà...
Benzinga
March 27, 2018
Wells Fargo investors will need to be patient while the company works through its near-term issues, but its core business is solid, the analyst said. “We think the narrative for WFC improves over the coming months with decent Q1 results (steady core business trends should be enough for a relief rally),Ãâà...
HousingWire
March 27, 2018
“Strengthening and transforming how we manage risk is a top priority for Wells Fargo,” a company spokesperson told HousingWire. “While more work is under way, we're making meaningful progress that is allowing us to better serve our customers and enable our team members to more effectively manageÃâà...
MarketWatch
March 27, 2018
Wells Fargo opened millions of unauthorized customer accounts and charged hundreds of thousands of borrowers for unneeded guaranteed auto protection or collateral protection insurance for their automobiles. As a result, the Fed last month said the bank was not allowed to grow until adequate reformÃâà...
The American Prospect
March 27, 2018
While serving at the San Francisco Fed, Williams failed to detect the tsunami of scandal and fraud at Wells Fargo—and now will be rewarded with the lead supervisory role for a host of other big banks. Worse, working people were sidelined from input in the selection, which was instead dominated byÃâà...
Seeking Alpha
March 27, 2018
Wells Fargo share price has declined -9% over the past year compared to the S&P 500 +10% and +22% for average of Citi, BAC, and JPM. Relative performance is even worse since January 5, 2018, date of the bank's greatest debacle that investors underappreciate. While the dividend yield is appealing atÃâà...
CNBC
March 26, 2018
To one market analyst, all of the above means it's not a time for investors to worry; it's time to buy. "We're trying to get our clients to buy on these pullbacks," Scott Wren, senior global equity strategist at Wells Fargo, told CNBC's "Futures Now" recently. "We think this thing still has some upside the rest of theÃâà...
GreenBiz
March 26, 2018
"There's no shortage of technology, but the 'valley of death' is very real for these companies," said Ashley Grosh, vice president and business initiatives manager of environmental affairs at Wells Fargo. "We can speed up the path to commercialization in a way that is best for the company, without theirÃâà...
Macon Daily
March 25, 2018
MGIC Investment Corp. logo Wells Fargo reissued their buy rating on shares of MGIC Investment (NYSE:MTG) in a research report released on Wednesday, March 14th. Other research analysts have also recently issued research reports about the company. B. Riley reiterated a buy rating and issued aÃâà...
Yahoo Finance
March 24, 2018
The 2008 financial crisis is at the back of investors' minds – at least when it comes to the balance sheets of the three largest lenders: JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC). As reported by The Wall Street Journal, citing data from Novantas, customers are depositing bucketsÃâà...
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