• Wells Fargo cancels ex-CEO Sloan's $15M bonus

  By Dan Ennis • March 18, 2020

  The bank considered the timing of Sloan's resignation, the company's performance and the status of its risk management objectives and outstanding regulatory matters in its decision, according to a proxy filing. Read the full article ➔

• Former Wells Fargo board members defend scandal response in House hearing

  By Anna Hrushka • March 11, 2020

  Betsy Duke and James Quigley said they were shocked and troubled when they first learned of the bank’s misconduct, but both told the panel they had done all they could to steer the bank in the right direction.  Read the full article ➔

• Maxine Waters calls for DOJ probe into former Wells Fargo CEO's 'false statements'

  By Anna Hrushka • March 11, 2020

  Tim Sloan, who led the scandal-plagued bank from October 2016 to March 2019, resigned shortly after testifying at a House hearing over the bank’s widespread consumer abuses. Read the full article ➔

• Wells Fargo CEO: 'Broken' culture led to consumer abuse scandals

  By Anna Hrushka • March 10, 2020

  Scharf told lawmakers Wells Fargo’s structure was "problematic," and company leadership failed its stakeholders. "Our culture was broken, and we did not have the appropriate controls in place across the company," he said. Read the full article ➔

• Wells Fargo board members Duke, Quigley resign following House report

  By Anna Hrushka • March 9, 2020

  Resignations come ahead of Wednesday’s House Financial Services Committee hearing, where the board members are expected to testify regarding their previous response to a series of consumer abuse scandals. Read the full article ➔

• House report slams Wells Fargo, regulators' failure to rein in 'reckless' bank

  By Anna Hrushka • March 5, 2020

  The report claims regulators knew about "serious, enterprise-wide deficiencies" without taking public enforcement action, and the bank’s board "failed to ensure management could competently address the company’s risk management deficiencies." Read the full article ➔

• SEC fines Wells Fargo $35M over investment advice, compliance failures

  By Kate Patrick Macri • March 2, 2020

  The bank advised investors to hold single-inverse exchange-traded funds for months or even years, essentially ensuring they would incur losses while the bank would profit, the regulator said. Read the full article ➔

• Democrats slam Wells Fargo settlement as bank faces 3 congressional hearings

  By Anna Hrushka • Feb. 25, 2020

  Last week’s settlement may have closed the book on several criminal and civil investigations, but the ramifications of Wells Fargo’s fake-accounts scandal are far from over as it once again becomes the subject of several hearings. Read the full article ➔

• Wells Fargo to pay $3B to settle fake accounts scandal

  By Anna Hrushka • Feb. 21, 2020

  The settlement with the Justice Department and the Securities and Exchange Commission comes about a month after the OCC fined former Wells CEO John Stumpf $17.5 million and banned him for life. Read the full article ➔

• Wells Fargo ends mandatory arbitration for workplace sexual harassment

  By Anna Hrushka • Feb. 13, 2020

  Companies use mandatory arbitration clauses to resolve disputes outside of the court system. Critics say the practice helps keep complaints from coming to light. Read the full article ➔

• Wells Fargo, Upstart criticized after study finds loan disparities

  By Dan Ennis • Feb. 6, 2020

  Five senators are asking Upstart's CEO to show how the company tests its credit model for fair lending after a nonprofit claimed black borrowers were charged more than other people with identical credit profiles. Read the full article ➔

• OCC bans ex-Wells Fargo CEO, fines him $17.5M over fake accounts scandal

  By Anna Hrushka • Jan. 23, 2020

  Five other former executives at the San Francisco-based bank were charged, and two more settled with the regulator after a years-long scandal prompted several leadership changes. Read the full article ➔

• Regulator prepping civil charges against ex-Wells Fargo managers

  By Anna Hrushka • Jan. 23, 2020

  The bank has faced penalties from the OCC in the past, but a charge against former employees would mean the agency wants to hold individuals accountable for the scandal. Read the full article ➔

• Wells Fargo's $1.5B legal charge drives net income to 9-year low

  By Dan Ennis • Jan. 14, 2020

  In CEO Charlie Scharf's first earnings call, the company revealed profits plummeted 53% compared with a year ago. Scharf has emphasized resolving the lender's regulatory issues in his three months at the helm. Read the full article ➔

• Wells Fargo ordered to pay $102.8M in mobile deposit patent case

  By Dan Ennis • Jan. 13, 2020

  Friday's ruling represents the second nine-figure judgment against the bank since November in an ongoing spat between USAA and Mitek. Read the full article ➔

• Former Wells Fargo execs could face criminal charges, sources say

  By Anna Hrushka • Jan. 6, 2020

  It's a new year, but an investigation into the bank's scandal-ridden past could take center stage in 2020, sources told American Banker. Read the full article ➔

• Wells Fargo board members may testify in 2020 over scandal, lawmaker says

  By Anna Hrushka • Dec. 20, 2019

  If California Democrat Maxine Waters' request is fulfilled, it would be the first time the bank's board members would face the House Financial Services Committee. Read the full article ➔

• Wells Fargo CEO: Bank to refund some checking account fees next year

  By Dan Ennis • Dec. 5, 2019

  The move comes in response to a letter Rep. Katie Porter wrote to Wells chief Charlie Scharf last month regarding a policy that may have confused customers. Read the full article ➔

• Wells Fargo names BNY Mellon's Charlie Scharf CEO

  By Anna Hrushka • Sept. 27, 2019

  The appointment ends a six-month search that began after former CEO Tim Sloan resigned from the scandal-plagued bank in March. Read the full article ➔