All Wells Fargo articles – Page 5

  • Mary Rentoumis
    Article

    Wells Fargo’s new TPRM head looked to Theranos for lessons

    2019-12-16T14:49:00Z

    At CW’s Third-Party Risk Management and Oversight Summit, the head of Wells Fargo’s global TPRM group took a few pages out of biotech startup Theranos’ book to shed light on what not to do when building a risk culture.

  • Article

    Wells Fargo general counsel stepping down

    2019-11-15T17:03:00Z

    Wells Fargo announced General Counsel Allen Parker will leave the company, effective March 31, 2020, “to pursue other business opportunities.”

  • Article

    Wells Fargo to pay $14M for violating swap dealer business conduct standards

    2019-11-08T18:08:00Z

    The U.S. Commodity Futures Trading Commission has issued an order filing and settling charges against Wells Fargo for violating multiple swap dealer business conduct standards.

  • Asset 1
    Article

    AT&T might be the next Wells Fargo (and doesn’t seem to be doing anything about it)

    2019-10-15T14:12:00Z

    A federal securities lawsuit against AT&T and multiple executives of the company mirrors many of the same troubling ethics and compliance failures that plagued Wells Fargo. Inside, we take a deep dive into the allegations.

  • AT&T
    Article

    Shareholder lawsuit alleges massive fraud at AT&T

    2019-09-27T19:50:00Z

    A lawsuit filed on behalf of shareholders against AT&T and its executives and directors alleges widespread fraudulent sales and customer-manipulation tactics regarding the company’s DirecTV Now offering.

  • LastPieceCreditPuzzle
    Article

    Banks finalize CECL prep, but others have work to do

    2019-09-19T18:37:00Z

    Big banks are making progress in preparing for CECL, but non-bank operating companies are likely to face a heavier lift as they approach the fourth quarter.

  • Roemerindex
    Article

    A new CCO’s Herculean task at Wells Fargo

    2019-05-17T15:32:00Z

    Compliance Week chats with Wells Fargo CCO Mike Roemer about the challenge of rebuilding trust at a company that’s been the poster child of compliance and risk management gone wrong.

  • Article

    Inside Wells Fargo’s plan to restore trust

    2019-05-17T15:19:00Z

    Compliance Week looks at highlights from Wells Fargo’s plan to transform the future.

  • Article

    Embattled Wells Fargo CEO steps down

    2019-03-28T16:53:00Z

    Wells Fargo announced Thursday that Chief Executive Officer and President Timothy Sloan intends to retire, effective June 30. He will step down as CEO, president, and board member effective immediately. 

  • Blog

    Wells Fargo elects new board member

    2019-01-08T09:45:00Z

    Wells Fargo & Company has elected Wayne Hewett to its board of directors. Additionally, Karen Peetz has decided that she will not stand for re-election and will retire as a director at the company’s 2019 Annual Meeting of Shareholders.

  • Blog

    Wells Fargo to pay $575M in 50-state settlement

    2018-12-28T16:15:00Z

    Wells Fargo reached a $575 million settlement to resolve civil claims with all 50 state Attorneys General and the District of Columbia that the bank violated state consumer protection laws.

  • Blog

    Wells Fargo hit with $2B penalty for misrepresenting quality of loans used in RMBS

    2018-08-02T15:15:00Z

    The Department of Justice on Aug. 1 announced that Wells Fargo and several of its affiliates will pay a $2.09 billion civil penalty based on the bank’s alleged origination and sale of residential mortgage loans that it knew contained misstated income information and did not meet the quality that Wells ...

  • Blog

    Wells Fargo charm offensive

    2018-05-20T15:45:00Z

    New Wells Fargo ads in prominent business newspapers are an effort to let the world know the bank is cleaning up its act—but, without follow-through, it may not be enough.

  • Blog

    Report: Wells Fargo employees may have altered customer documents

    2018-05-17T12:45:00Z

    The latest catalyst for bad news at Wells Fargo: allegations that employees altered information on business customers’ forms and documents.

  • Blog

    Wells Fargo names chief risk officer

    2018-05-16T12:00:00Z

    Financial services firm Wells Fargo & Co. has appointed Amanda Norton as chief risk officer. Mike Loughlin, who announced plans to retire, will continue to serve as Wells Fargo’s chief risk officer until Norton’s employment with the company begins this summer, ensuring a smooth transition.

  • Article

    What Wells Fargo’s woes could mean for near future of bank regulation

    2018-04-24T11:15:00Z

    A $1 billion fine may set the stage for even harsher enforcement actions against Wells Fargo and their big bank brethren, despite the deregulatory zeal taking hold at the Federal Reserve and other agencies.

  • Blog

    Wells Fargo fined $1B by OCC, CFPB

    2018-04-20T10:15:00Z

    The Office of the Comptroller of the Currency, in a coordinated action with the Consumer Financial Protection Bureau, assessed a total civil money penalty of $1 billion against Wells Fargo Bank for engaging in abusive lending practices concerning its auto loans.

  • Blog

    Does your board have a compliance expert?

    2018-02-11T10:00:00Z

    The Federal Reserve Bank this month assessed a penalty against Wells Fargo for the bank’s widespread customer abuse from its fraudulent accounts scandal, other regulatory violations, and lack of response by the bank’s doard of directors to these problems and other risk management issues.

  • Blog

    Fed drops hammer on Wells Fargo, board for past misdeeds

    2018-02-05T09:30:00Z

    On her last day as Federal Reserve Chairman, Janet Yellen escalated the regulatory attack on the embattled Wells Fargo, restricting the growth of the firm until it “sufficiently improves its governance and controls.”

  • Blog

    OCC chides Senate critics, defends supervisory reforms

    2018-01-31T12:00:00Z

    The Comptroller of the Currency is fighting back against accusations by Senate Democrats, that his agency was slow to adapt  to lessons learned from last year’s problematic behavior at Wells Fargo.