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Wells Fargo earnings: Scandal impact lingers amid boost from federal tax law overhaul

Results included $3.25 billion litigation reserve for the bank's sale practices, mortgage-related investiga.....»»

Category: topSource: usatodayJan 12th, 2018

Wells Fargo, AT&T, others cite tax overhaul in plans to boost wages, pay bonuses

Several major companies, perhaps eager to boost public opinion for the tax overhaul that dramatically slashed their taxes, said Wednesday that they will boost employee pay and bonuses in the wake of federal tax law changes. It marks a dramatic chang.....»»

Category: topSource: bizjournalsDec 20th, 2017

Wells Fargo"s profit flat as costs, mortgages weigh

(Reuters) - Wells Fargo & Co posted flat quarterly earnings on Thursday and warned its costs would remain elevated as the fallout from a sales practices scandal continues to impact the third-largest U.S. bank......»»

Category: topSource: reutersApr 13th, 2017

Wells Fargo"s profit flat, costs and mortgages weigh

(Reuters) - Wells Fargo & Co posted flat quarterly earnings on Thursday and warned its costs would remain elevated as the fallout from a sales practices scandal continues to impact the third-largest U.S. bank......»»

Category: topSource: reutersApr 13th, 2017

Warren Buffett Dumps Wells Fargo Stock After Sales Scandal Clawbacks

The Berkshire Hathaway investor reversed previous plans to buy more of the bank's shares. Warren Buffett's Berkshire Hathaway on Wednesday said it withdrew its application to the Federal Reserve to boost its ownership stake in Wells Fargo .....»»

Category: europeSource: fortuneApr 12th, 2017

Wells Fargo could lag peers amid scandal recovery

The bank's Q4 earnings missed forecasts on earnings, revenue         The bank's Q4 earnings missed forecasts on earnings, revenue        .....»»

Category: topSource: usatodayJan 13th, 2017

Shoppers boost chance of December rate hike

A rebound in retail sales is adding to expectations for a December rate hike from the Federal Reserve, which should be good for banks, but fears of a Wells Fargo scandal backlash is casting a dark shadow over better-than-expected profits......»»

Category: videoSource: reutersOct 14th, 2016

Wells Fargo: To Be Determined

Yes, Wells Fargo (WFC) beat earnings forecasts today, and yes, it discussed its sales practices--the ones that led to the resignation of CEO John Stumpf. The financial impact of the sales scandal, however, is still to be determined, says Evercore ISI anal.....»»

Category: blogSource: barronsOct 14th, 2016

Wells Fargo"s 3Q Earnings Top Estimates

Wells Fargoreported its fourth straight fall in quarterly profit amid an increasingly politicized bogus-account scandal that cost Chief Executive and Chairman John Stumpf his job......»»

Category: topSource: foxnewsOct 14th, 2016

Wells Fargo CEO resigns position on Fed advisory body

Wells Fargo's embattled CEO is resigning his position on the Federal Reserve's advisory council amid a scandal over millions of accounts allegedly opened by the bank without customers' permission......»»

Category: topSource: foxnewsSep 22nd, 2016

Wells Fargo CEO Resigns Position on Fed Advisory Body

Wells Fargo's embattled CEO is resigning his position on the Federal Reserve's advisory council amid a scandal over millions of accounts allegedly opened by the bank without customers' permission.....»»

Category: topSource: abcnewsSep 22nd, 2016

WATCH: FBI and Federal Prosecutors Probing Wells Fargo Amid Accounts Scandal, Official Says

The FBI and federal prosecutors in New York and California have opened an investigation into Wells Fargo days after the bank was fined $185 million dollars for alleged misconduct, according to an official briefed on the investigation......»»

Category: topSource: abcnewsSep 15th, 2016

Companies Tout Tax Benefits as Earnings Season Begins

Some of the biggest U.S. companies are promising significant annual savings, bigger pension contributions, higher dividend payments and more extensive stock buybacks as executives start to discuss the impact of the federal tax overhaul......»»

Category: smallbizSource: wsjJan 17th, 2018

Wells Fargo sees no end yet to sales scandal costs, gets tax boost

Wells Fargo & Co is not certain it has fully uncovered and fixed all problems related to a long-running sales scandal that has hurt the bank's reputation and sideswiped its efforts to cut costs, Chief Executive Tim Sloan said on Friday......»»

Category: topSource: foxnewsJan 12th, 2018

Wells Fargo sees no end yet to sales scandal costs, gets tax boost

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Category: topSource: reutersJan 12th, 2018

Wells Fargo profit jumps after one-time boost from tax reform (WFC)

Ryan Welsh/Flickr Wells Fargo's fourth-quarter profit rose 18%, driven by a one-time benefit from the new tax law.  Analysts have been closely watching the bank's expenses since a scandal about its sales practic.....»»

Category: topSource: businessinsiderJan 12th, 2018

JPMorgan’s 4th-Quarter Profit Weathers $2.4 Billion Charge Tied to Tax Bill

The banking giant earned $4.2 billion after taking a $2.4 billion charge linked to the tax overhaul. Wells Fargo reported $6.2 billion in quarterly earnings after a $173 million charge......»»

Category: dealsSource: nytJan 12th, 2018

Wells Fargo, AT&T, others cite tax changes in plans to boost wages, pay bonuses

Several major companies, perhaps eager to boost public opinion for tax reform that dramatically slashed their taxes, said Wednesday that they will boost employee pay and bonuses in the wake of federal tax law changes. It marks a dramatic change fr.....»»

Category: topSource: bizjournalsDec 20th, 2017

Navajo Nation sues Wells Fargo in fake-account scandal

The tribe said in federal court documents that the bank targeting minors, the elderly and members who speak limited English to sign up for unneeded accounts......»»

Category: topSource: msnbcDec 13th, 2017

Trump says fines against Wells Fargo could be increased

WASHINGTON/NEW YORK (Reuters) - President Donald Trump took aim at the third-largest U.S. bank on Friday, writing on Twitter that government fines and penalties against Wells Fargo & Co could be hiked amid an ongoing sales scandal......»»

Category: topSource: reutersDec 8th, 2017

Trump says fines against Wells Fargo won"t be dropped: Twitter

WASHINGTON (Reuters) - U.S. President Donald Trump took aim at the country's third-largest bank on Friday tweeting that government fines and penalties against Wells Fargo & Co could be "substantially increased" amid an on-going sales scandal......»»

Category: topSource: reutersDec 8th, 2017