Search Results for: Wells Fargo
Wells Fargo Broker-Dealers to Pay $3.4 Million
October 17th, 2017
The Financial Industry Regulatory Authority (FINRA) announced that it has ordered Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC to pay more than $3.4 million in restitution to affected customers for unsuitable recommendations of volatility-linked ...
Lawyers are suing international banking and financial services company Wells Fargo
May 15th, 2017
Lawyers for customers: Wells Fargo may have opened about 3.5M bogus accounts Lawyers suing Wells Fargo on behalf of aggrieved customers say the bank may have opened about 3.5 million unauthorized accounts, far more than the figure bank and ...
Wells Fargo announced a $110 million settlement of a lawsuit
March 29th, 2017
Wells Fargo announces agreement in principle to settle class action lawsuit regarding retail sales practices Wells Fargo announced today that it has reached an agreement in principle to settle a class action lawsuit concerning retail sales practices, which was ...
KPMG is getting questioned to Wells Fargo sales-practices scandal
November 3rd, 2016
Wells Fargo & Co. isn’t the only one having to answer to Washington over its sales-practices scandal. Its longtime auditor, KPMG LLP, is getting questioned, too. In a letter to KPMG last week, Sen. Elizabeth Warren (D., Mass.) and ...
Wells Fargo Chairman and CEO is stepping down following fake accounts scandal
October 13th, 2016
Embattled Wells Fargo Chairman and CEO John Stumpf is stepping down from the bank he has led for nearly a decade, following intense scrutiny over a fake accounts scandal that erupted last month. San Francisco-based Wells said Wednesday that ...
Wells Fargo Fined $185 Million on Phony Accounts, Fires 5,300 Staff
September 9th, 2016
California and federal regulators fined Wells Fargo a combined $185 million on Thursday, alleging the bank’s employees illegally opened millions of unauthorized accounts for their customers in order to meet aggressive sales goals. A staggering 5,300 employees at Wells ...
Wells Fargo named new president and head of WFA
August 16th, 2016
Wells Fargo & Company (NYSE: WFC) announced that David Kowach has been named president and head of Wells Fargo Advisors, LLC (WFA), the company’s national retail brokerage, effective immediately. Kowach will report to David Carroll, senior executive vice president ...
SEC Charges Rhode Island Agency and Wells Fargo With Fraud in 38 Studios Bond Offering
March 8th, 2016
The Securities and Exchange Commission today charged a Rhode Island agency and its bond underwriter Wells Fargo Securities with defrauding investors in a municipal bond offering to finance startup video game company 38 Studios. The Rhode Island Economic Development ...
Wells Fargo Surpasses Citigroup
January 18th, 2016
Wells Fargo sees 6% growth in assets; Citigroup posts strong annual profit Starting the new year, most big banks are touting their regimens to slim down: Wells Fargo & Co. just keeps growing. The San Francisco-based bank surpassed Citigroup Inc. to become the ...
Commerzbank sues BNY Mellon, Wells Fargo, HSBC over mortgage losses
December 28th, 2015
Commerzbank AG has sued four banks in the United States, claiming that they failed to properly monitor billions of dollars in toxic mortgage-backed securities acquired by the German lender before the 2008 financial crisis. Bank of New York Mellon ...
