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Wells Fargo Credit Card Applications Plunge 55% Amid Account Scandal

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Category: topSource: redinewsMar 20th, 2017

Wells Fargo account openings plunge 44%

Wells Fargo said on Thursday that new account openings and credit card applications fell dramatically in October, the first month after the bank was rocked by a scandal over the creation of millions of fake accounts......»»

Category: topSource: cnnNov 17th, 2016

Wells Fargo New Account Openings Down 44%; Credit Card Applications Plunge By 50%

While it won't come as a surprise that Wells Fargo customers were disappointed to learn their bank was embroiled in the biggest banking scandal since the financial crisis which shattered the bank's "folksy" image, so far there were no definitive numbers t.....»»

Category: blogSource: zerohedgeNov 17th, 2016

Wells Fargo customer account openings plunge

Wells Fargo said on Thursday that new account openings and credit card applications fell dramatically in October, the first month after the bank was rocked by a scandal over the creation of millions of fake accounts......»»

Category: europeSource: cnnNov 17th, 2016

Wells Fargo Struggling in Aftermath of Fraud Scandal

New credit card applications were down 43 percent in the fourth quarter of 2016, the bank said, and new checking account openings fell 40 percent......»»

Category: dealsSource: nytJan 13th, 2017

Wells Fargo Card Requests Drop by Most Since Scandal Erupted - Bloomberg

BloombergWells Fargo Card Requests Drop by Most Since Scandal EruptedBloombergWells Fargo & Co. said credit-card applications dropped 55 percent in February from.....»»

Category: topSource: googlenewsMar 20th, 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

Wells Fargo credit card applications plunge 55%

Wells Fargo is having a hard time getting Americans to sign up for credit cards these days......»»

Category: topSource: moneyMar 20th, 2017

Credit card applications drop at Wells Fargo in February

Wells Fargo & Co (WFC.N) saw a drop in consumers opening checking and credit card accounts in February, the bank said on Monday, marking the sixth straight month of decline since a sales scandal rocked the bank last year......»»

Category: topSource: moneycentralMar 20th, 2017

Credit card applications drop at Wells Fargo in February

NEW YORK (Reuters) - Wells Fargo & Co saw a drop in consumers opening checking and credit card accounts in February, the bank said on Monday, marking the sixth straight month of decline since a sales scandal rocked the bank last year......»»

Category: topSource: reutersMar 20th, 2017

New figures show bad news for Wells Fargo

Embattled bank Wells Fargo announced this week that new account openings fell by 44 percent in the month October and new credit card applications have fallen by over 50 percent. New figures released show that foot traffic to branches is also down, with "b.....»»

Category: topSource: moneycentralNov 18th, 2016

Wells Fargo’s Scandal Could End Up Costing Bank $8 Billion

It's not over yet. When news of Wells Fargo’s phony account scandal first broke, the bank, analysts, and even investors thought it wouldn’t dent earnings. But as the furor surrounding the opening of some 2 million deposit and credit card a.....»»

Category: europeSource: fortuneOct 24th, 2016

Wells Fargo sends customers statement about unauthorized account opening scandal

In the wake of a $185 million fine by regulators for creating unauthorized deposit and credit card accounts so employees could collect financial bonuses, Wells Fargo & Co.(NYSE: WFC) has sent a statement to its customers to update what it's doing to make .....»»

Category: topSource: bizjournalsOct 22nd, 2016

This Week In Credit Card News: Wells Fargo Scandal Widens; Chip Card Problems Persist One Year Later

Wells Fargo Account Scandal Extends to Small Business.....»»

Category: smallbizSource: forbesOct 7th, 2016

Watch Elizabeth Warren rip Wells Fargo CEO: "You should resign"

During a Senate Banking Committee hearing, Sen. Elizabeth Warren said that Wells Fargo CEO John Stumpf should resign immediately, and be criminally investigated, amid a scandal that bank employees opened phony bank and credit card accounts to meet company.....»»

Category: topSource: businessinsiderSep 20th, 2016

Wells Fargo Scandal: How Politics Put the CEO’s Job in Jeopardy

Wells Fargo may have thought that firing 5,300 employees and paying $185 million in fines for opening some 1.5 million unauthorized accounts and filing 565,000 credit card applications without customers’ knowledge would make its scandal go away, but in .....»»

Category: topSource: yahooSep 18th, 2016

Well Fargo Fires 5,300 Employees After Fake Account Scandal

Earlier Thursday, U.S. regulators said Wells Fargo & Co (NYSE: WFC) would have to pay $190 million to settle claims of its employees having created deposit and credit card accounts without the approval of its customers......»»

Category: blogSource: benzingaSep 8th, 2016

Wells Fargo"s retail strategy is slowly dying

REUTERS/Noah BergerWells Fargo doesn't deserve a lot of credit for the way it's handled the fallout from its fake-account scandal, which came to lig.....»»

Category: topSource: businessinsiderApr 25th, 2017

5 lessons from the report analyzing Wells Fargo"s credit card scandal

On April 10, the directors of the Wells Fargo board independent oversight committee issued their 111-page report on the scandal that has engulfed the bank. The report was prepared by the law firm Shearman & Sterling LLP. The scandal went public when W.....»»

Category: topSource: bizjournalsApr 25th, 2017

Account Openings Decline at Wells Fargo

Wells Fargo says customer checking-accounts and credit-card openings fell drastically in February versus a year earlier......»»

Category: topSource: foxnewsMar 21st, 2017