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Shares of Wells Fargo are up more than 8% since regulators lifted the 8-year restrictions on the bank in February and rose to $52.47 Friday. Show comments Advertisement
The Biden Administration eased some of the restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals. The Office of the ...
Three former Wells Fargo executives must pay $18.5 million for their role in the bank’s widespread fake sales accounts scandal that came to light nearly a decade ago. Based in San Francisco ...
Recent turbulence with Wells Fargo. ... The Federal Reserve capped the bank’s assets and ability to grow in the aftermath of the 2016 fake accounts scandal, when news broke that employees had ...
Other Wells Fargo settlements and scandals The fake sales scandal was the first of a number of activities by Wells Fargo that fell under federal scrutiny. And a former top executive is facing ...
Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
The conduct management intake department at Wells Fargo was created in the wake of the scandal that erupted in 2016 when The Times reported bank employees had opened millions of fake deposit and ...
(Reuters) -The former head of Wells Fargo's retail bank on Friday avoided prison time after pleading guilty to an obstruction charge related to the bank's sweeping fake-accounts scandal. Carrie ...