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  • 11/17/2017 16:41:50

    Wells Fargo consumer lending head axed after disparaging regulators: source

    NEW YORK/WASHINGTON (Reuters) - Wells Fargo & Co announced on Friday it fired its head of consumer lending, a move that people familiar with the matter said was because he disparaged a bank regulator...

  • 11/17/2017 16:39:23

    UPDATE 5-Wells Fargo consumer lending head axed after disparaging regulators -source

    NEW YORK/WASHINGTON Nov 17 (Reuters) - Wells Fargo & Co announced on Friday it fired its head of consumer lending, a move that people familiar with the matter said was because he disparaged a bank regulator to a fired employee.

  • 11/17/2017 09:26:53

    Wells Fargo dismisses consumer lending head Codel

    NEW YORK/WASHINGTON (Reuters) - Wells Fargo & Co has fired its head of consumer lending over unsuitable communications he had with a former employee, the bank said on Friday, the latest upheaval at a...

  • 11/17/2017 09:23:21

    UPDATE 3-Wells Fargo dismisses consumer lending head Codel

    NEW YORK/WASHINGTON Nov 17 (Reuters) - Wells Fargo & Co has fired its head of consumer lending over unsuitable communications he had with a former employee, the bank said on Friday, the latest upheaval at a lender roiled by scandal for more than a year.

  • 11/15/2017 09:02:47

    Wells Fargo CFO says 'consumer credit is under control'

    (Reuters) - Wells Fargo & Co CFO John Shrewsberry said on Wednesday he is not worried that consumers are struggling to pay their debts.

  • 11/14/2017 15:45:00

    Wells Fargo repays $5.4 mln for repossessing service members' cars

    Wells Fargo & Co(WFC) has repaid another $5.4 million to about 450 military service members whose vehicles it repossessed illegally, the U.S. Department of Justice said on Tuesday. The third-largest U.S. bank has now repaid about $10.2 million to roughly 860 service members and their co-borrowers for improper repossessions, under a settlement announced in September 2016.

  • 11/14/2017 15:45:00

    Wells Fargo repays $5.4 million for repossessing service members' cars

    - Wells Fargo & Co (WFC) has repaid another $5.4 million to about 450 military service members whose vehicles it repossessed illegally, the U.S. Department of Justice said on Tuesday. The third-largest U.S. bank has now repaid about $10.2 million to roughly 860 service members and their co-borrowers for improper repossessions, under a settlement announced in September 2016.

  • 11/14/2017 14:53:37

    Warren Buffett buys Apple and sells IBM, opens new stake in Bank of America

    Berkshire Hathaway Inc. sold shares in International Business Machines Corp. in the latest quarter and bought more stock in Apple Inc. , while opening a new position in Bank of America Corp. In a quarterly filing with the Securities and Exchange Commission, Warren Buffett's investment firm disclosed that it sold about one-third of its IBM stake, more than 17 million shares, and purchased about 3.9 million Apple shares, which gives Berkshire more than 134 million shares of the iPhone maker in total. Berkshire bought 679 million shares in Bank of America while slightly cutting its stake in Wells Fargo & Co. Berkshire Hathaway stock has gained about 1.6% so far this year, while the S&P 500 index has added 15.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 11/14/2017 07:16:38

    BRIEF-Wells Fargo introduces new feature to automatically "rewind" overdrafts that are assessed on customers' accounts ...

    Wells Fargo & Co(WFC). * Wells Fargo & Co(WFC) - introduced a new feature that will automatically "rewind" overdrafts that are assessed on customers' accounts at a vulnerable time​. * Wells Fargo (WFC) - will not charge overdraft/ insufficient funds fees if covering direct deposit is received morning after account is overdrawn for new feature​. * Wells Fargo & Co (WFC) - ‍also announced that it will no longer ...

  • 11/03/2017 11:51:00

    Wells Fargo faces lawsuits over mortgage and auto loans

    Wells Fargo & Co disclosed in a regulatory filing on Friday that it is facing litigation over previously disclosed sales problems related to its auto and mortgage businesses.

  • 11/02/2017 10:51:50

    CORRECTED-MOVES-Wells Fargo names Mary Katherine DuBose head of debt capital markets

    Nov 2 (Reuters) - The investment banking and capital markets business of Wells Fargo & Co said it has appointed Mary Katherine DuBose as head of debt capital markets, effective immediately.

  • 10/27/2017 11:45:05

    UPDATE 1-U.S. investigating forex trading at Wells Fargo -WSJ

    Oct 27 (Reuters) - Federal prosecutors are investigating foreign-exchange trading at Wells Fargo & Co and have subpoenaed information from the firm, the Wall Street Journal reported, citing people familiar with the matter.

  • 10/27/2017 10:16:13

    U.S. investigating forex trading at Wells Fargo: WSJ

    (Reuters) - Federal prosecutors are investigating foreign-exchange trading at Wells Fargo & Co and have subpoenaed information from the firm, the Wall Street Journal reported, citing people familiar with the matter.

  • 10/27/2017 10:12:50

    U.S. investigating forex trading at Wells Fargo - WSJ

    Oct 27 (Reuters) - Federal prosecutors are investigating foreign-exchange trading at Wells Fargo & Co and have subpoenaed information from the firm, the Wall Street Journal reported, citing people familiar with the matter.

  • 10/20/2017 14:12:35

    UPDATE 2-Wells Fargo regulatory woes continue in autos, forex -reports

    Oct 20 (Reuters) - Wells Fargo & Co is facing fresh regulatory scrutiny in both its consumer and institutional businesses, according to reports in the New York Times and Wall Street Journal on Friday, as the third-largest U.S. bank continues to work through a prolonged scandal over its sales practices.

  • 10/20/2017 11:29:41

    Wells Fargo fires forex bankers, investigates unit: WSJ

    (Reuters) - Wells Fargo & Co , the third-largest U.S. bank by assets, has fired four foreign-exchange bankers amid an investigation into that business by both the bank and regulators, the Wall Street Journal reported, citing people familiar with the matter and the bank.

  • 10/20/2017 11:21:51

    Wells Fargo fires forex bankers, investigates unit -WSJ

    Oct 20 (Reuters) - Wells Fargo & Co, the third-largest U.S. bank by assets, has fired four foreign-exchange bankers amid an investigation into that business by both the bank and regulators, the Wall Street Journal reported, citing people familiar with the matter and the bank.

  • 10/20/2017 11:19:21

    UPDATE 1-Wells Fargo faulted by U.S. regulator for auto insurance abuses -NYT

    Oct 20 (Reuters) - Wells Fargo & Co wrongly pushed auto insurance on customers who did not need it and took too long to halt the abuse, the New York Times reported on Friday, citing a confidential report from a leading bank regulator.

  • 10/20/2017 09:30:17

    Wells Fargo scrutinized by regulator for auto insurance program: NYT

    (Reuters) - Wells Fargo & Co engaged in deceptive auto insurance practices, failed to properly manage risks and hasn't set aside enough funds to pay back affected customers, the New York Times reported, citing a confidential report by federal regulators.

  • 10/20/2017 09:27:07

    Wells Fargo scrutinized by regulator for auto insurance program - NYT

    Oct 20 (Reuters) - Wells Fargo & Co engaged in deceptive auto insurance practices, failed to properly manage risks and hasn't set aside enough funds to pay back affected customers, the New York Times reported, citing a confidential report by federal regulators.

  • 10/20/2017 06:43:17

    Bank stocks tracker jumps toward 10-year high after budget bill passes

    Bank stocks got a bit lift Friday, as the passage of the budget bill by the Senate helped push up Treasury yields. The bill's passage is seen as paving the way for President Trump's proposed tax cuts, could lift longer-term interest rates by boosting economic growth and increasing the deficit, which would increase Treasury supply. The SPDR Financial Select Sector ETF rallied 1.0% in premarket trade, putting it on track to open at the highest price seen during regular session hours since Nov. 1, 2007. Among the ETF's most-heavily weighted components, shares of J.P. Morgan Chase & Co. climbed 1.2%, Bank of America Corp. surged 1.8%, Citigroup Inc. rallied 1.3%, Goldman Sachs Group Inc. gained 1.3% and Wells Fargo & Co. tacked on 1.0%. Higher long-term yields can help goose bank profits, as it would increase the interest rate spread between longer-term assets, like loans, and shorter-term liabilities to fund those assets. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 10/16/2017 12:02:35

    California extends ban on Wells Fargo business for at least another year

    (Reuters) - California will extend sanctions against Wells Fargo & Co for at least another year, Treasurer John Chiang said on Monday, after the state suspended doing business with the bank in 2016 as punishment for a sales practices scandal.

  • 10/16/2017 11:54:54

    Wells Fargo brokerage to return $3.4 million for risky products

    NEW YORK (Reuters) - A brokerage industry regulator on Monday ordered Wells Fargo & Co to return $3.4 million (2.56 million pounds) to customers after selling them inappropriate investment products, the latest sign that a culture of problematic sales practices has bled into areas outside its consumer bank.

  • 10/16/2017 10:45:16

    California extends sanctions against Wells Fargo for at least another year

    Oct 16 (Reuters) - California will extend sanctions against Wells Fargo & Co for at least another year, Treasurer John Chiang said at a press conference Monday.

  • 10/16/2017 10:39:56

    Wells Fargo to return $3.4 mln to brokerage clients over risky products

    A brokerage industry regulator on Monday ordered Wells Fargo & Co (WFC) to return $3.4 million to customers after selling them inappropriate investment products, the latest sign that a culture of problematic sales practices have bled into areas outside its consumer bank.

  • 10/16/2017 09:51:43

    UPDATE 1-Wells Fargo to return $3.4 mln to brokerage clients over risky products

    NEW YORK, Oct 16 (Reuters) - A brokerage industry regulator on Monday ordered Wells Fargo & Co to return $3.4 million to customers after selling them inappropriate investment products, the latest sign that a culture of problematic sales practices have bled into areas outside its consumer bank.

  • 10/13/2017 13:14:46

    Wells Fargo revises expense outlook, signaling profit difficulties ahead

    (Reuters) - Wells Fargo & Co management signaled on Friday that the bank may struggle to hit expense targets through next year, raising questions about how much a sales scandal is weighing on the bottom line.

  • 10/13/2017 11:39:18

    URGENT-Wells Fargo $1 bln accrual due to talks with U.S. Justice Department

    Wells Fargo & Co(WFC) took a $1 billion mortgage litigation accrual in the third quarter because it is in talks with the U.S. Department of Justice, Chief Financial Officer John Shrewsberry told Reuters on Friday. The talks are with a task force that has reached settlements with several other large banks, he said.

  • 10/13/2017 10:08:26

    Wells Fargo revises expense target, signaling profit difficulties ahead

    (Reuters) - Wells Fargo & Co management signaled on Friday that the bank may struggle to hit expense targets through next year, raising questions about how much a sales scandal is weighing on the bottom line.

  • 10/13/2017 07:34:03

    Dow, S&P 500 hit intraday records after opening higher

    U.S. stock-market indexes traded in record territory after modest opening gains on Friday as investors assessed a round of economic data and earnings releases. Inflation data came in weaker than expected, while retail sales jumped last month, but were in line with forecasts. Over the week, the main indexes were on track to post modest gains. The S&P 500 was up 4 points, or 0.2%, to 2,555. The tech-heavy Nasdaq Composite index was up 20 points, or 0.3%, to 6,610. The Dow Jones Industrial Average was up 38 points, or 0.2%, to 22,876 at the open. Shares of large banks were in focus. Bank of America shares rose after third-quarter earnings results, while Wells Fargo & Co shares declined as earnings missed estimates.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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