|Bid||0.00 x 0|
|Ask||195.00 x 0|
|Day's Range||172.50 - 182.00|
|52 Week Range||139.00 - 182.00|
|PE Ratio (TTM)||44.83|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Wells Fargo has fired four foreign-exchange bankers amid an investigation into that business by both the bank and regulators.
Three high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another ...
The executive firings would add to Wells Fargo's existing struggle with scandal in its consumer banking business.
Wells Fargo on Friday dismissed four foreign exchange-focused bankers on the back of an investigation into its investment banking division, The Wall Street Journal reported, citing people familiar with ...
Wells Fargo & Co , the third-largest U.S. bank by assets, has fired four foreign-exchange bankers amid an investigation into that business by both the bank and regulators, the Wall Street Journal reported, ...
The report from the Office of the Comptroller of the Currency (OCC) criticized the Wall Street bank for forcing numerous borrowers to buy unneeded auto insurance, as well as for its handling of the problems once they were unveiled, the newspaper reported. The preliminary regulators' report said that Wells Fargo may have underestimated costs related to reimbursing harmed customers and that the bank's practices could be curbed or kept under close watch, according to the New York Times report.
Wells Fargo has added brokers for the first time in the past year, On Wall Street reports. The firm added to its ranks by hiring both trainees and established brokers, according to a spokeswoman: “Attracting the industry’s top talent will always be a priority for Wells Fargo Advisors, and we feel good about the quality recruits in our pipeline.” While rivals UBS, Morgan Stanley and Merrill Lynch have eased up on their recruitment spending, Wells Fargo “has pursued aggressive recruiting tactics this year,” writes On Wall Street. “Wells Fargo’s independent arm has picked up several new advisors, and the wirehouse also has had a few notable successes, including two Morgan Stanley advisors who oversaw more than $400 million in combined client assets,” the publication says.
Spokesman Jim Baum said employees were notified Tuesday morning during a meeting in the center’s cafeteria. The bank employs about 1,000 in the Lehigh Valley, almost half of which work in the call center. It cited Wells Fargo CEO Tim Sloan’s recent testimony before the U.S. Senate as proof, when he was asked about other recent call center layoffs in Fort Mill, S.C. (120 layoffs) and Vancouver, Wa.
Add as last sentence of release: Wells Fargo Securities is the trade name for certain securities-related capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Bank, N.A., acting through its Municipal Products Group.
America is eight years into one of the longest-running bull markets, and the percentage of working Americans who say the U.S. stock market is now a good place to invest for retirement has increased to 65%, up from 45% a year earlier.
LONDON, UK / ACCESSWIRE / October 17, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Wells Fargo & Co. (NYSE: WFC ), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=WFC ...
Wells Fargo & Co. agreed to compensate customers after recommending complex exchange-traded products linked to stock market volatility, without fully understanding the securities’ risks.
Bay Area companies made donations totaling millions of dollars to support the relief efforts for those affected by California wildfires this week. Bank of America (BAC) said Friday that it is donating $200,000 to relief efforts, with half that donation going to the American Red Cross. California's largest bank also lowered its minimum matching-gift program for employees from $25 to $1.
California Treasurer John Chiang said Monday that he’s extending sanctions against Wells Fargo for a second year and questioned why Tim Sloan, a 30-year veteran of the bank, is CEO of the San Francisco-based bank, which he said may be too big to succeed. Others are demanding that its leadership structure be dismantled and replaced,” Chiang said in a letter to the bank’s board and CEO Monday. “I am hopeful that Mr. Sloan will not suffer from the same lack of vision suffered by his predecessor in seeing how to restore the integrity of the bank,” Chiang said in his letter to the bank and echoed at a press conference he held on the steps of San Francisco City Hall Monday morning.
Wells Fargo reported underwhelming results for the third quarter of the year late last week, as the third-largest U.S. bank in terms of assets missed revenue expectations and barely met earnings expectations as it continues to reel under the effect of a series of sales-related scandals.
A brokerage industry regulator on Monday ordered Wells Fargo & Co to return $3.4 million to customers after selling them inappropriate investment products, the latest sign that a culture of problematic sales practices has bled into areas outside its consumer bank. The bank also failed to make sure brokers unloaded the products from customer accounts within 30 days, according to the Financial Industry Regulatory Authority (FINRA). The products' value shifted based on market volatility over short durations, but some Wells brokers mistakenly believed they could be used as long-term hedges against a market downturn, FINRA said.
Chiang cited progress by the bank in certain areas, but expressed concern over an "alarming drumbeat of news reports of egregious or illegal actions over the past year" in extending the sanctions, which apply only to business his office oversees. California manages a $75 billion investment portfolio and is the nation's largest issuer of municipal debt. The sanctions also suspend state investments in all Wells Fargo securities and halt the use of Wells Fargo as a broker-dealer for investment purchasing.
A brokerage industry regulator on Monday ordered Wells Fargo & Co (WFC.N) to return $3.4 million (2.56 million pounds) to customers after selling them inappropriate investment products, the latest sign that a culture of problematic sales practices has bled into areas outside its consumer bank. The bank also failed to make sure brokers unloaded the products from customer accounts within 30 days, according to the Financial Industry Regulatory Authority (FINRA). The products' value shifted based on market volatility over short durations, but some Wells brokers mistakenly believed they could be used as long-term hedges against a market downturn, FINRA said.
The Financial Industry Regulatory Authority (FINRA) ordered Wells Fargo & Co.’s clearing services and Wells Fargo Advisors Financial Network to pay customers $3.4 million in restitution for sales practice issues related to “unsuitable recommendations” of certain investment products. Between July 2010 and May 2012, FINRA said some Wells Fargo brokers recommended customers buy volatility-linked exchange-traded products (ETFs) “without fully understanding their risks and features,” and that the bank lacked appropriate supervisory procedures for the sales. “Volatility-linked ETPs are complex products that could be misunderstood and improperly sold by registered representatives.
The fine will be paid to customers who were told to buy volatility-linked exchange-traded products.
Wells Fargo & Company announced today that it is making an additional $850,000 available for relief efforts related to wildfires in California. The additional funding includes $100,000 for the American Red Cross, $50,000 for the Salvation Army, $200,000 for local non-profits focused on rebuilding efforts in 2018, and $500,000 for the company’s WE Care Fund, which makes financial grants for unforeseen ...
Bank management fielded questions from analysts for an hour after reporting third-quarter earnings, but only got one about the fraudulent account practices that have cost the bank in reputation, fees, ...