Wells Fargo said on Monday that a U.S. government request to add one of its executives as a defendant in a fraud case may be in retaliation for the bank's decision to cut off settlement talks.
Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance across North America and internationally.
Wells Fargo Vice President Kurt Lofrano played a 'critical role' in helping the bank hide fraudulent home loans that cost the U.S. $189m, the U.S. government claimed in a filing in Manhattan federal court.
There are still many more shoes to drop, after the much anticipated JPMorgan Chase $13bn settlement, say industry watchers.
Sad to report.
Wells Fargo has named Erin Gore, who was associate vice chancellor and chief financial officer at University of California, Berkeley, as co-head of its Education and Nonprofit Banking group.
Wells Fargo & Company said that its board of directors elected James H. Quigley, CEO emeritus and a retired partner of Deloitte, to the company’s board of directors, effective immediately.
Profit at Wells Fargo rose by a better-than-expected 13% in the third quarter, as the mortgage lender made up for a decline in that business by releasing a large chunk of money set aside for bad loans.
Betty Liu reports on Friday's top news headlines on Bloomberg Television's 'In The Loop'.
Wells Fargo reported third quarter earnings that hit a record, the bank said on Friday, surpassing Wall Street's estimates as loans and deposits surged during the period.
Here a few interesting links to some Bloomberg, CNBC, New York Post and Thomson Reuters stories that are currently doing the rounds.
Wells Fargo Securities announced that Cronin McTigue has joined the firm as head of Liquid Products Sales & Trading within Wells Fargo Securities' Fixed Income group.
Matthew Turner, a former private equity executive at Bank of America’s Merrill Lynch unit, has sued the company for about $14m in bonuses he says were promised and never paid.
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Standard Chartered's Richard Holmes is the latest subject of our 60 Second Interview.
US Banker magazine has just published its league table of the 25 'most powerful' women in banking in 2004. Here's the Top 10 and some other interesting entries.
The Securities and Exchange Commission has charged an investment banker who was primarily based in Charlotte, N.C., and nine others involved in an insider trading ring that garnered more than $11m in illicit profits trading on confidential information about impending mergers.
Bank of America director Robert Scully won't run for re-election at the annual meeting this spring, in the latest in a series of changes on the board.
Danny Ludeman will retire from Wells Fargo Advisors after 34 years of helping build one of the country’s most successful brokerage firms, with 15,000 advisors and management of more than $1 trillion in client assets.
Sad to report.
Here's a note of four UBS articles making the news this Monday morning.