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Fifth Third Bank is facing similar allegations to Wells Fargo"s accounts scandal

This story was delivered to Business Insider Intelligence Banking subscribers earlier this morning. To get this story plus others to your inbox each .....»»

Category: topSource: businessinsiderMar 12th, 2020

Wells Fargo to pay $3 bln for fake accounts

Wells Fargo reached a settlement Friday for a massive fake account scandal, in which it admitted to guilt and agreed to pay $3 billion to the Justice Department and Securities and Exchange Commission. Conway G. Gittens details the official announcement......»»

Category: videoSource: reutersFeb 21st, 2020

Wells Fargo reaches $3 billion settlement with DOJ, SEC over fake-accounts scandal

The settlement addresses systemic consumer abuses sparked by the bank’s admission in 2016 that it had opened millions of fake accounts customers didn’t want......»»

Category: topSource: washpostFeb 21st, 2020

Wells Fargo to pay $3 billion to U.S., admits pressuring workers in fake-accounts scandal

Wells Fargo & Co .....»»

Category: topSource: reutersFeb 21st, 2020

Wells Fargo agrees to $3B settlement in fake accounts case

The DOJ slapped the bank over its fake account scandal......»»

Category: topSource: foxnewsFeb 21st, 2020

Wells Fargo nears SEC, DOJ settlement over fake-accounts scandal

The settlement is the latest of several fines and penalties against the San Francisco-based bank since it admitted in 2016 that it had opened millions of accounts customers didn’t request......»»

Category: topSource: washpostFeb 21st, 2020

Wells Fargo CEO Scharf unveils massive business restructure

Wells Fargo & Co. CEO Charles Scharf is making moves as he tries to rid the San Francisco-based bank of ongoing problems since its fake-accounts scandal emerged in 2016. Scharf is splitting the bank's organizational structure into five parts: Cons.....»»

Category: topSource: bizjournalsFeb 12th, 2020

Wells Fargo announces major restructuring, splitting bank into five units, each with own CEO

Wells Fargo & Co. CEO Charles Scharf is making moves as he tries to rid the San Francisco-based bank of ongoing problems since its fake-accounts scandal emerged in 2016. Scharf is splitting the bank's organizational structure into five parts: Cons.....»»

Category: topSource: bizjournalsFeb 11th, 2020

Wells Fargo accounts scandal was worse than you can imagine

One useful rule of thumb when it comes to business scandals is that they often seem to get worse after the initial disclosures, even after a string .....»»

Category: topSource: moneycentralJan 29th, 2020

That Wells Fargo accounts scandal was even worse than you can imagine

One useful rule of thumb when it comes to business scandals is that they often seem to get worse after the initial disclosures, even after a string .....»»

Category: topSource: moneycentralJan 29th, 2020

Column: That Wells Fargo accounts scandal was even worse than you can imagine

New government charges reveal how bad the Wells Fargo scandal really was. New government charges reveal how bad the Wells Fargo scandal really was......»»

Category: topSource: latimesJan 27th, 2020

Ex-Wells Fargo CEO banned from banking, must pay $17.5M fine for role in fake-accounts scandal

The former CEO of Wells Fargo can never work for a bank again and must pay a $17.5 million fine for his role in the bank's .....»»

Category: topSource: usatodayJan 23rd, 2020

Ex-Wells Execs Hit With $59MM In Fines Over Fake Account Scandal; Stumpf Barred For Life

Ex-Wells Execs Hit With $59MM In Fines Over Fake Account Scandal; Stumpf Barred For Life Nearly four years after Wells Fargo's reputation was terminally crushed by the humiliating fake accounts scandal, the punishment for Warren B.....»»

Category: blogSource: zerohedgeJan 23rd, 2020

Former Wells Fargo senior executives reportedly under criminal investigation

Several former Wells Fargo & Co. senior executives are under criminal investigation resulting from the bank’s fake-accounts scandal, trade publication American Banker reported, citing unnamed sources. According to the report, federal prosecutors.....»»

Category: topSource: bizjournalsJan 6th, 2020

Former Wells Fargo senior executives under criminal investigation: Report

Several former Wells Fargo & Co. senior executives are under criminal investigation resulting from the bank’s fake-accounts scandal, trade publication American Banker reported, citing unnamed sources. According to the report, federal prosecutors.....»»

Category: topSource: bizjournalsJan 6th, 2020

Wells Fargo former interim CEO Parker steps down as general counsel

Wells Fargo & Co said on Thursday general counsel Allen Parker, who briefly served as interim chief executive of the scandal-hit U.S bank, will step down next year......»»

Category: topSource: reutersNov 14th, 2019

Incoming Wells Fargo CEO: "I certainly didn"t anticipate this opportunity coming along"

Incoming Wells Fargo & Co. CEO Charles Scharf has a long road ahead to fix the bank's regulatory woes, stemming from a scandal where up to 3.5 million unauthorized accounts were uncovered in late 2016, but he remains bullish on the outcome of that .....»»

Category: topSource: bizjournalsSep 27th, 2019

Incoming Wells Fargo CEO has plenty of work ahead as the big bank looks to fix its image

Incoming Wells Fargo & Co. (NYSE: WFC) CEO Charles Scharf has a long road ahead to fix the bank's regulatory woes, stemming from a scandal where up to 3.5 million unauthorized accounts were uncovered in late 2016, but he remains bullish on the out.....»»

Category: topSource: bizjournalsSep 27th, 2019

Wells Fargo CEO Tim Sloan steps down

Wells Fargo & Co said on Thursday Tim Sloan will resign immediately as its chief executive, becoming the second CEO to leave the bank in the fallout of a wide-ranging sales practices scandal......»»

Category: topSource: reutersMar 28th, 2019

Wells Fargo CEO got 5% pay raise to $18.4 million for 2018

Charged with cleaning up the fake-accounts scandal that claimed his predecessor, Sloan has struggled to satisfy regulators' demands to overhaul the sprawling institution......»»

Category: topSource: moneycentralMar 13th, 2019