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Wells Fargo settles retail sales lawsuit for $142 million

Wells Fargo said Friday a district court in California approved a $142 million class-action settlement to compensate customers who were affected by a sales scandal related to the opening of phoney bank accounts......»»

Category: topSource: moneycentralJun 15th, 2018

Wells Fargo settles retail sales lawsuit for $142 million

(Reuters) - Wells Fargo & Co said on Friday a district court in California approved a $142 million class-action settlement to compensate customers who were affected by a sales scandal related to the opening of phony bank accounts......»»

Category: topSource: reutersJun 15th, 2018

Phony bank accounts not a "systemic" issue: U.S. regulator

A U.S. bank regulator said on Thursday that an industry-wide review prompted by Wells Fargo & Co's sales practices scandal had uncovered some instances of phony accounts at other lenders but little evidence of a "systemic" problem......»»

Category: topSource: moneycentralJun 7th, 2018

Phony bank accounts not a "systemic" issue: U.S. regulator

WASHINGTON (Reuters) - A U.S. bank regulator said on Thursday that an industry-wide review prompted by Wells Fargo & Co's sales practices scandal had uncovered some instances of phony accounts at other lenders but little evidence of a "systemic" problem......»»

Category: topSource: reutersJun 7th, 2018

Wells Fargo CEO says bank poised to boost auto lending

Wells Fargo & Co. Chief Executive Officer Tim Sloan said the firm is ready to increase lending for car sales after pulling back last year, and is now looking with concern at the commercial real estate market......»»

Category: topSource: moneycentralMay 21st, 2018

Wells Fargo to pay $480 million to resolve lawsuit related to sales scandal

(Reuters) - Wells Fargo & Co said on Friday it will pay $480 million to resolve a securities fraud lawsuit related to a sales scandal that surfaced in 2016......»»

Category: topSource: reutersMay 4th, 2018

Wells Fargo Caught In Yet Another Scandal

Given the seemingly unceasing stream of scandal that has flowed out of Warren Buffett's favorite bank, Wells Fargo, it's hardly surprising that after doing everything from illegally repossess.....»»

Category: blogSource: zerohedgeJul 19th, 2018

Wells Fargo automated wealth management, pressed advisers to focus on sales: report

Wells Fargo has weathered numerous scandals in recent months related to its internal practices......»»

Category: topSource: foxnewsJul 18th, 2018

Wells Fargo CFO says reputation issues a challenge for wealth unit

Wells Fargo & Co's wealth and investment management unit may be having a harder time generating new business because of damage to the bank's reputation from scandals over its sales practices, Chief Financial Officer John Shrewsberry said on Friday......»»

Category: topSource: reutersJul 13th, 2018

Wells Fargo keeps disappointing investors, while trying to keep its sales people happy

Wells Fargo continued to disappoint investors as earnings and revenue fell below expectations, but it still tried to keep its sales people happy as commissions and incentive pay increased......»»

Category: topSource: marketwatchJul 13th, 2018

Wells Fargo CFO sees effective tax rate for remainder of 2018 about 19%

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallJul 13th, 2018

Wells Fargo earnings fall as bank reports sales-tax hit, fewer loans and deposits

Wells Fargo & Co. on Friday reported lower-than.....»»

Category: topSource: latimesJul 13th, 2018

Wells Fargo Tumbles After Missing Across The Board; Loans, Deposits Slide

Unlike JPM, which started off Q2 solidly, if with some weakness in loan creation, rapidly rising deposit costs, and a missing outlook page, Wells Fargo had an ugly second quarter, in which it missed on the top and bottom line, report.....»»

Category: blogSource: zerohedgeJul 13th, 2018

Earnings Preview For Wells Fargo

On Friday, Wells Fargo (NYSE: WFC) will release its latest earnings report. Here is Benzinga's outlook for the company. Earnings and Revenue Wells Fargo earnings will be near $1.13 per share on sales of $21.7 billion, according to analysts. read more.....»»

Category: blogSource: benzingaJul 12th, 2018

Chinese court blocking Micron product sales a "clear negative," says Wells Fargo

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

Category: blogSource: theflyonthewallJul 5th, 2018

Constellation Sees Rising Beer Sales, but Costs Hurt Margins

Beer sales at the company rose 11% from the comparable quarter a year ago to $1.38 billion in Constellation’s latest quarter, helped by brands like Corona and Modelo......»»

Category: smallbizSource: wsjJun 29th, 2018

L.A. City Council OKs new banking disclosures prompted by Wells Fargo scandal

Banks that do business with the city of L.....»»

Category: topSource: latimesJun 26th, 2018

SEC fines Wells Fargo Advisors over investment sales

The U.S. Securities and Exchange Commission on Monday said Wells Fargo Advisors LLC agreed to pay more than $5.1 million to settle charges of misconduct in the sale of so-called market-linked investments to retail investors......»»

Category: topSource: moneycentralJun 25th, 2018

Wells Fargo fined by SEC over investment sales misconduct

(Reuters) - Wells Fargo & Co will pay more than $5.1 million to settle U.S. Securities and Exchange Commission charges it improperly pushed retail customers to actively trade complex investments in order to generate higher fees......»»

Category: topSource: reutersJun 25th, 2018

Wells Fargo Advisors to pay $5M over improper investment sales: SEC

The SEC said the firm “improperly” encouraged retail customers to trade certain securities in a way that generated large returns for the bank......»»

Category: topSource: foxnewsJun 25th, 2018