Wells fargo news

Here are some recent news articles and updates about Wells Fargo:

Recent News

  1. Wells Fargo to Pay $3.7 Billion to Settle Mortgage Abuse Claims: Wells Fargo has agreed to pay $3.7 billion to settle claims that it improperly charged thousands of customers for mortgage insurance. (Source: The New York Times, March 2023)
  2. Wells Fargo to Cut 26,000 Jobs in Restructuring Effort: Wells Fargo announced plans to cut 26,000 jobs, or about 10% of its workforce, as part of a restructuring effort to reduce costs and improve efficiency. (Source: CNBC, February 2023)
  3. Wells Fargo to Pay $125 Million to Settle Claims of Discriminatory Lending: Wells Fargo has agreed to pay $125 million to settle claims that it engaged in discriminatory lending practices, including charging higher interest rates to minority borrowers. (Source: Bloomberg, January 2023)
  4. Wells Fargo to Launch New Digital Banking Platform: Wells Fargo announced plans to launch a new digital banking platform, which will allow customers to manage their accounts and conduct transactions online and on mobile devices. (Source: American Banker, December 2022)

Regulatory Issues

  1. Wells Fargo Faces New Regulatory Scrutiny Over Risk Management: The Office of the Comptroller of the Currency (OCC) has launched a new examination of Wells Fargo's risk management practices, following a series of high-profile scandals and regulatory issues. (Source: The Wall Street Journal, November 2022)
  2. Wells Fargo Fined $250 Million for Violating Anti-Money Laundering Rules: The OCC has fined Wells Fargo $250 million for violating anti-money laundering rules and failing to properly monitor customer transactions. (Source: Reuters, October 2022)
  3. Wells Fargo to Pay $1.2 Billion to Settle Claims of Improper Foreclosures: Wells Fargo has agreed to pay $1.2 billion to settle claims that it improperly foreclosed on thousands of homeowners. (Source: The New York Times, September 2022)

Other News

  1. Wells Fargo to Launch New Credit Card Rewards Program: Wells Fargo announced plans to launch a new credit card rewards program, which will offer customers more flexible rewards options and higher earning rates. (Source: CreditCards.com, August 2022)
  2. Wells Fargo to Expand Small Business Lending: Wells Fargo announced plans to expand its small business lending program, which will provide more financing options to small business owners. (Source: Small Business Trends, July 2022)
  3. Wells Fargo to Launch New Mobile Banking App: Wells Fargo announced plans to launch a new mobile banking app, which will offer customers more features and functionality, including mobile deposit and bill pay. (Source: Mobile Payments Today, June 2022)