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Wells Fargo sees no end yet to sales scandal costs, gets tax boost

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Category: topSource: reutersJan 12th, 2018

Wells Fargo profit jumps after one-time boost from tax reform (WFC)

Ryan Welsh/Flickr Wells Fargo's fourth-quarter profit rose 18%, driven by a one-time benefit from the new tax law.  Analysts have been closely watching the bank's expenses since a scandal about its sales practic.....»»

Category: topSource: businessinsiderJan 12th, 2018

Wells Fargo to cut costs by another $2 bln

Wells Fargo doubled its cost-cutting target after expenses soared in the aftermath of a sales scandal. Fred Katayama reports......»»

Category: videoSource: reutersMay 11th, 2017

Wells Fargo plans to cut additional $2 billion in costs

Wells Fargo plans to cut an additional $2 billion of expenses out of the bank's operations as it works to recover from last year's sales scandal.....»»

Category: topSource: abcnewsMay 11th, 2017

Wells Fargo CEO sees benefits to putting employees before shareholders

Wells Fargo & Co Chief Executive Officer Tim Sloan said recruiting and retention have improved dramatically in the wake of a sales scandal, as the third-largest U.S. bank has made big changes to how it pays and evaluates employees in its branches......»»

Category: topSource: moneycentralMay 1st, 2017

Wells Fargo Says Sales Scandal Could Hurt Growth Permanently

And its costs to fix the fake accounts damage keep rising. Wells Fargo is paying hundreds .....»»

Category: europeSource: fortuneApr 13th, 2017

Wells Fargo"s profit flat as costs, mortgages weigh

(Reuters) - Wells Fargo & Co posted flat quarterly earnings on Thursday and warned its costs would remain elevated as the fallout from a sales practices scandal continues to impact the third-largest U.S. bank......»»

Category: topSource: reutersApr 13th, 2017

Wells Fargo"s profit flat, costs and mortgages weigh

(Reuters) - Wells Fargo & Co posted flat quarterly earnings on Thursday and warned its costs would remain elevated as the fallout from a sales practices scandal continues to impact the third-largest U.S. bank......»»

Category: topSource: reutersApr 13th, 2017

Warren Buffett Dumps Wells Fargo Stock After Sales Scandal Clawbacks

The Berkshire Hathaway investor reversed previous plans to buy more of the bank's shares. Warren Buffett's Berkshire Hathaway on Wednesday said it withdrew its application to the Federal Reserve to boost its ownership stake in Wells Fargo .....»»

Category: europeSource: fortuneApr 12th, 2017

The Wall Street Journal: Wells Fargo sees huge drop in new accounts since scandal

Wells Fargo & Co. said Monday that its customer checking-account and credit-card openings fell drastically in February versus a year earlier, a continuing trend for the bank following last year’s sales-practices scandal......»»

Category: topSource: marketwatchMar 20th, 2017

"We Are All Doing It": Thousands Of Canadian Bankers Admit Lying To Customers To Boost Sales

Several days after shares of Canada's TD Bank tumbled following reports that its employees were engaging in practices similar to those which led to a major scandal at Wells Fargo, which cost CEO John Stumpf his job and led to bonus clawbacks and numer.....»»

Category: blogSource: zerohedgeMar 15th, 2017

"We Are All Doing It": Thousands Of Candian Bankers Admit Lying To Customers To Boost Sales

Several days after shares of Canada's TD Bank tumbled following reports that its employees were engaging in practices similar to those which led to a major scandal at Wells Fargo, which cost CEO John Stumpf his job and led to bonus clawbacks and numer.....»»

Category: blogSource: zerohedgeMar 15th, 2017

Wells Fargo Sees Significant Slowdown in Account Openings

Wells Fargo says customers are significantly pulling back from doing business with the bank, a reverberation of the sales practices scandal that drew a huge fine in September.....»»

Category: topSource: abcnewsNov 17th, 2016

Wells Fargo sees significant slowdown in account openings

Wells Fargo says customers are significantly pulling back from doing business with the bank, a reverberation of the sales practices scandal that drew a huge fine in September......»»

Category: topSource: moneycentralNov 17th, 2016

Shoppers boost chance of December rate hike

A rebound in retail sales is adding to expectations for a December rate hike from the Federal Reserve, which should be good for banks, but fears of a Wells Fargo scandal backlash is casting a dark shadow over better-than-expected profits......»»

Category: videoSource: reutersOct 14th, 2016

Sales scandal costs Wells Fargo; JPMorgan and Citi please Wall Street

By David Henry and Dan Freed NEW YORK (Reuters) - JPMorgan Chase and Citigroup trounced third-quarter estimates on Friday on a sharp rebound in trading revenues while Wells Fargo & Co barely beat expectations as a sales scandal engulfed the bank. Wells Fa.....»»

Category: topSource: yahooOct 14th, 2016

Sales scandal costs Wells Fargo; JPMorgan and Citi please Wall Street

NEW YORK (Reuters) - JPMorgan Chase and Citigroup trounced third-quarter estimates on Friday on a sharp rebound in trading revenues while Wells Fargo & Co barely beat expectations as a sales scandal engulfed the bank......»»

Category: topSource: reutersOct 14th, 2016

Sales scandal costs Wells Fargo; JPMorgan and Citi please Wall Street - Reuters

ReutersSales scandal costs Wells Fargo; JPMorgan and Citi please Wall StreetReutersTraders work in the Citigroup booth on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 25, 2016. REUTERS/Brendan McDermid. 3/3. left. right. A W.....»»

Category: topSource: googlenewsOct 14th, 2016

Wells Fargo earnings: Scandal impact lingers amid boost from federal tax law overhaul

Results included $3.25 billion litigation reserve for the bank's sale practices, mortgage-related investiga.....»»

Category: topSource: usatodayJan 12th, 2018

Wells Fargo 4Q results rise 17 pct; posts gain from tax bill

Wells Fargo says its fourth-quarter earnings rose 17 percent from a year ago, as the consumer banking giant benefited from the recently passed GOP tax bill, but incurred additional costs related to improper sales practices and other matters......»»

Category: topSource: foxnewsJan 12th, 2018