Wells Fargo

🔒Wells Fargo’s new CT commercial banking leader Gallo sees growth opportunities in Nutmeg State

Longtime Wells Fargo Connecticut commercial banking market executive Kevin Burke retired earlier this year after a nearly two decade-long run in the position. Now a new banker with years-long experience […]

Wells Fargo CEO apologizes for saying the Black talent pool is limited

Wells Fargo CEO Charlie Scharf has apologized after he reportedly blamed the lack of diversity at the bank on "a very limited pool of Black talent to recruit from."

Wells Fargo lost $2.4 billion last quarter, setting the stage for its first dividend cut since the Great Recession

Wells Fargo swung to its first quarterly loss since the Great Recession, forcing the struggling bank to warn it will likely slash its coveted dividend by 80%.

Big banks accused of favoring more lucrative small business loans in coronavirus program

Four of America's biggest banks have been accused of harming thousands of coronavirus-hit small businesses by unfairly prioritizing emergency loan requests from large customers to earn fatter fees.
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Big banks built a $35 billion fortress to protect against coronavirus bankruptcies and defaults

Officials in Washington are trying hard to minimize the amount of bankruptcies, defaults and foreclosures caused by the coronavirus pandemic. America's big banks are planning for the worst anyway.

JPMorgan’s profit plummets 69% because of coronavirus

As the coronavirus pandemic crushes the global economy, JPMorgan set aside a stunning $6.8 billion worth of reserves to insulate itself from loan defaults.

Fed lets Wells Fargo out of the penalty box early to help small businesses

The Federal Reserve is temporarily letting Wells Fargo out of the penalty box, freeing the troubled bank to aggressively lend to small businesses struggling to survive the coronavirus crisis.

Wells Fargo ups Hartford min. wage to $18/hr.

Wells Fargo, the fourth-largest U.S. bank by total assets, is raising its minimum wage across most of its domestic markets, joining a list of major competitors that have already done so over the past year.
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US government fines Wells Fargo $3 billion for its ‘staggering’ fake-accounts scandal

Wells Fargo was hit with a $3 billion fine Friday by federal authorities outraged by the millions of fake accounts created at the troubled bank over many years.

Former Wells Fargo CEO banned from banking industry and fined $17 million

Former Wells Fargo CEO John Stumpf on Thursday agreed to a lifetime ban from the banking industry and a $17 million fine for his role in leading the bank through its massive fake accounts scandal.
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