Wells Fargo

Many outlets are now reporting that Wendy Williams is fighting to get access back into her Wells Fargo account after a former financial advisor allegedly told the bank that the beloved talk show host wasn't in her right state of mind, fueling suspicions of dementia yet again.

NEW YORK (AP) — Wells Fargo CEO Charles Scharf apologized Wednesday for comments he made about the difficulty of finding qualified Black executives. Scharf said that “there is a very limited pool of Black talent to recruit from” in corporate America. The memo to employees was written in June, but became public this week. LIKE […]

The racism continues...

Philadelphia alleges that the bank made more than 1,000 predatory loans Black & Latino homebuyers in the city.

NEW YORK (AP) — Wells Fargo’s embattled CEO John Stumpf is stepping down as the nation’s second-largest bank is roiled by a scandal over its sales practices. The San Francisco bank said Wednesday that Stumpf is retiring effective immediately and also relinquishing his title as chairman. He won’t be receiving severance pay and the bank […]

WASHINGTON (AP) — Wells Fargo says CEO John Stumpf and the executive who ran the bank’s retail banking division will forfeit tens of millions of dollars in pay as the bank tries to stem a scandal over its sales practices. The independent directors at the nation’s second-largest bank said Tuesday that Stumpf will forfeit $41 […]

WASHINGTON (AP) — The CEO of Wells Fargo plans to apologize before a congressional panel for betraying customers’ trust in a scandal over allegations that employees opened millions of unauthorized accounts, moved money into them and signed customers up for online banking in order to meet sales targets. In prepared testimony obtained by The Associated […]

NEW YORK (AP) — Wells Fargo will cut its aggressive product sales goals for retail bankers, as it faces $185 million in fines and a damaged reputation after allegations that it opened millions of unauthorized accounts to meet those targets. The sales goals will be eliminated by Jan. 1, the San Francisco-based bank announced Tuesday. […]

  Last week, Wells Fargo Bank agreed to pay $185 million in fines and refund customers some $2.5 million. Why? Mellody: It’s pretty straightforward. Some employees at Wells Fargo were caught illegally signing customers up for products – credit cards, deposit accounts, other items – that they had not requested. According to Wells Fargo, the […]

NEW YORK (AP) — 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. The San Francisco-based bank will pay $100 million to the Consumer Financial Protection Bureau, a federal agency created […]

LOS ANGELES (AP) — The city of Los Angeles is suing Wells Fargo Bank, alleging that employees driven by strict sales pressure opened unauthorized accounts for customers that charged them fees and damaged their credit. The civil complaint was filed Monday under a law that allows attorneys representing large California cities to seek relief for […]