Latest Wells Fargo Headlines
All the headlines from our Wells Fargo Topic Page, ordered by recency.
Wells Fargo Says It’s Quitting Climate-Banking Group
Dec 23 2024 // Wells Fargo & Co. said it’s leaving the world’s biggest climate alliance for banks, in the latest sign that Wall Street is breaking away from such groups. The company said in a statement Friday that it...
Wells Fargo Must Face Lawsuit Over Sham Job Interviews
Jul 30 2024 // A U.S. judge ordered Wells Fargo to face a lawsuit alleging it defrauded shareholders by proclaiming its commitment to hiring diversity, even as it conducted sham job interviews of non-white and female applicants it had no...
Wells Fargo Bond Saleswoman Sues Over ‘Unapologetically Sexist’ Workplace
Apr 22 2024 // Wells Fargo was accused of sex discrimination in a lawsuit by a bond saleswoman who said the fourth-largest U.S. bank denied pay and promotions available to men and tolerated an “unapologetically sexist”...
Wells Fargo Seeks to Settle ‘Banking While Black’ Mortgage Case
Jun 5 2023 // Wells Fargo & Co. is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for...
Former Wells Fargo Exec Settles SEC Fraud Charges, to Pay $3M
Jun 1 2023 // The former head of Wells Fargo & Co’s WFC.N retail bank agreed to pay a $3 million penalty to settle U.S. Securities and Exchange Commission fraud charges for misleading investors about sales practices used to...
Wells Fargo to Pay $1 Billion in Class-Action Lawsuit
May 16 2023 // Wells Fargo & Co. agreed to pay $1 billion to settle a shareholder lawsuit that accused it of making misleading statements about its compliance with federal consent orders following the 2016 scandal involving the...
Wells Fargo to Pay $300M to Settle Suit Over Auto Insurance Disclosures
Feb 8 2023 // Wells Fargo & Co. agreed to pay $300 million to settle a shareholder lawsuit claiming the bank hid that it had pushed unnecessary insurance on auto loan customers, according to documents filed in U.S. court on...
Wells Fargo to Pay $3.7B for Illegal Conduct That Harmed Customers
Dec 21 2022 // The U.S. Consumer Financial Protection Bureau hit Wells Fargo & Co. with the watchdog’s largest ever civil penalty on Tuesday as part of a $3.7 billion agreement to settle charges over widespread mismanagement of...
Wells Fargo Says SEC Is Examining its Hiring Practices
Nov 1 2022 // Wells Fargo & Co said on Monday that the U.S. Securities and Exchange Commission has begun investigating its hiring practices, after the Department of Justice had opened a related probe. In its quarterly report filed...
OSHA Says Wells Fargo Owes Former Exec $22M for Improper Firing
Sep 2 2022 // A former Wells Fargo executive is due $22 million after an investigation by the Occupational Safety and Health Administration (OSHA) concluded the bank violated whistleblower protections under the Sarbanes-Oxley Act. The...
Judge Says Wells Fargo Must Face Shareholder Fraud Claims
Oct 1 2021 // A federal judge on Thursday rejected Wells Fargo & Co’.s bid to dismiss a lawsuit claiming it defrauded shareholders about its ability to rebound from five years of scandals over its treatment of customers. The...
Wells Fargo Fined $250M for ‘Unacceptable’ Failure to Honor 2018 Consent Order
Sep 13 2021 // A top U.S. banking regulator fined Wells Fargo $250 million and placed new restrictions on the bank’s business after finding shortcomings in its earlier efforts to pay back customers it had previously harmed. The...
Wells Fargo Could Face New Regulatory Sanctions Over Pace of Restitution
Sep 1 2021 // Five years into scandals that have already cost Wells Fargo & Co. more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress...
Wells Fargo to Pay $7.8 Million to Workers to Settle Hiring Discrimination Charges
Aug 26 2020 // Wells Fargo Bank has agreed to pay $7.8 million in back wages and interest to resolve allegations of hiring discrimination. The U.S. Department of Labor’s said it has entered into an agreement with the financial...
Aon Reverses Salary Cuts Implemented in May for Most Employees
Jun 30 2020 // Aon will end the salary cuts implemented in May as a response to the economic uncertainties caused by the COVID-19 pandemic. Effective July 1, Aon will end the salary cuts and repay colleagues for the lower pay, although a...
Wells Fargo to Pay $3B to U.S. to Settle Fake Accounts Scandal
Feb 24 2020 // Wells Fargo & Co. has agreed to pay $3 billion to resolve criminal and civil probes into fraudulent sales practices and has admitted to pressuring employees in a fake-accounts scandal, U.S. officials said on Friday,...
Wells Fargo Agrees to Halt Forced Arbitration for Sex Harassment Claims
Feb 13 2020 // Wells Fargo & Co. on Wednesday ended its forced arbitration policy for employee sexual harassment claims, opening the lender to potential lawsuits in the future. The San Francisco-based bank made the decision following...
Another Federal Circuit Finds Phishing Loss Covered Under Crime Policy
Feb 11 2020 // Companies of all sizes have fallen victim to attacks whereby fraudsters will use deceptive communications, such as spoofed emails, to trick an employee into transferring money into the fraudsters’ control. While...
Jury Orders Wells Fargo to Pay $102.8 Million in USAA Mobile Deposit Patent Case
Jan 13 2020 // Wells Fargo & Co. was told to pay $102.8 million after a federal jury in Texas said in infringed United Services Automobile Association’s patents for a mobile deposit system. It’s the second trial Wells...
Insurance Journal’s Top 10 West Region Stories of 2019
Jan 2 2020 // California wildfires dominated the news in Insurance Journal’s Western region in 2019, despite it being a quiet year relative to two consecutive years of deadly blazes that came before. Three of the year’s top...
