Wells Fargo

Florida News: Governor Rick Scott Thanks Businesses for Hurricane Relief Donations

TALLAHASSEE, FL – Florida Governor Rick Scott and Volunteer Florida today thanked the following businesses for their generous donations to the Florida Disaster Fund, which was activated by Governor Scott to aid those impacted by Hurricane Michael.  The Florida Disaster Fund, administered by the Volunteer Florida Foundation, is the State of Florida’s official private fund … Continue reading Florida News: Governor Rick Scott Thanks Businesses for Hurricane Relief Donations

SAN FRANCISCO | Wells Fargo’s profit rises to $6 billion in latest quarter

SAN FRANCISCO — Wells Fargo, still haunted by multiple scandals, reported higher earnings in the third quarter Friday but still fell short of what analysts were looking for. Wells saw its earnings jump to $6 billion from $4.5 billion in 2017’s third quarter, although last year the bank had to set aside $1 billion for … Continue reading SAN FRANCISCO | Wells Fargo’s profit rises to $6 billion in latest quarter

NEW YORK | Wells Fargo to cut 10 percent of workforce over next 3 years

NEW YORK — Wells Fargo plans to cut up to 10 percent of its workforce over the next three years, the bank announced on Thursday, which will result in thousands of job losses for employees of the nation’s third-largest bank. Wells Fargo & Co. Chief Executive Tim Sloan made the announcement to employees on Thursday. … Continue reading NEW YORK | Wells Fargo to cut 10 percent of workforce over next 3 years

New Mexico News: AG Balderas Brings Lawsuit against Wells Fargo for Opening Thousands of Fake Accounts

Albuquerque, N.M. – Thursday, Attorney General Hector Balderas announced that the Office of the Attorney General’s Consumer and Environmental Protection Division filed a lawsuit against Wells Fargo Bank, N.A. for illegal business practices in opening unauthorized accounts in the name of thousands of New Mexicans. “As the fiscal agent for the State, and a provider of banking services … Continue reading New Mexico News: AG Balderas Brings Lawsuit against Wells Fargo for Opening Thousands of Fake Accounts

Report: Wage Theft is Pervasive in Corporate America; Big Banks, Insurers are Among Most-Penalized Firms

WASHINGTON, – A new report by Good Jobs First finds that many large corporations operating in the United States have boosted their profits by forcing employees to work off the clock, cheating them out of required overtime pay and engaging in similar practices that together are known as wage theft. An analysis of federal and … Continue reading Report: Wage Theft is Pervasive in Corporate America; Big Banks, Insurers are Among Most-Penalized Firms

Business Highlights

April 21, 2018 (AP)(STLRealEstate.News) — Wells Fargo fined $1B for mortgage, auto lending abuses NEW YORK (AP) — Wells Fargo will pay $1 billion to federal regulators to settle charges tied to misconduct at its mortgage and auto lending business, the latest punishment levied against the banking giant for widespread customer abuses. The regulators penalized … Continue reading Business Highlights

Reports: Wells Fargo to be fined $1B as early as Friday

NEW YORK/April 20, 2018 (AP)(STLRealEstate.News) — Federal regulators plan to fine Wells Fargo as much as $1 billion as early as Friday for abuses tied to its auto-lending and mortgage businesses, The New York Times and other news outlets reported, citing unnamed sources. The potential $1 billion fine would be largest ever imposed by the … Continue reading Reports: Wells Fargo to be fined $1B as early as Friday

NEW YORK | Reports: Wells Fargo to be fined $1B as early as Friday

NEW YORK  | April 19, 2018 (AP)(STL.News) Federal regulators plan to fine Wells Fargo as much as $1 billion as early as Friday for abuses tied to its auto-lending and mortgage businesses, The New York Times and other news outlets reported, citing unnamed sources. The potential $1 billion fine would be largest ever imposed by … Continue reading NEW YORK | Reports: Wells Fargo to be fined $1B as early as Friday