Latest Wells Fargo Headlines
All the headlines from our Wells Fargo Topic Page, ordered by recency.
Court Rules Events After Email Instruction Don’t Erase Claim for Phishing Loss
Dec 12 2019 // A $1.7 million email phishing fraud that included phone calls with a fake lawyer and an intervention by a Wells Fargo fraud investigator is still a fraud and Ironshore Indemnity is liable for the claim, a split panel with...
Wells Fargo Settles Navajo Nation Claims Over Fake Accounts for $6.5 Million
Aug 23 2019 // Wells Fargo & Co. will pay the Navajo Nation $6.5 million to settle a lawsuit over “predatory and unlawful practices” by the bank, the Native American tribe said on Thursday. The Navajo Nation sued Wells...
Wells Fargo Settling California Car Loan Suit for $385M
Jun 17 2019 // Wells Fargo has agreed to pay at least $385 million to settle a California lawsuit alleging it signed up thousands of auto loan customers for costly car insurance without their consent, resulting in many having their...
Wells Fargo Settling California Car Loan Suit for $385M
Jun 10 2019 // Wells Fargo has agreed to pay at least $385 million to settle a California lawsuit alleging it signed up thousands of auto loan customers for costly car insurance without their consent, resulting in many having their...
Wells Fargo Settles Auto Insurance Scam for $385 Million
Jun 7 2019 // Wells Fargo & Co. agreed to pay at least $385 million to customers who say they were signed up for auto insurance without their knowledge or consent when they took out a car loan. Terms of the proposed settlement,...
Meeting Between Regulators, Employees Helped Set Stage for Wells Fargo CEO Exit
Apr 9 2019 // The day after former Wells Fargo & Co. Chief Executive Tim Sloan told U.S. lawmakers he was transforming the bank’s high-pressure culture, Federal Reserve officials met privately with bank employees. At the...
AIG Names Baich, Formerly with Wells Fargo and NSA, as Information Security Officer
Apr 1 2019 // American International Group announced that Rich Baich will join the company as senior vice president, chief information security officer, effective April 22. In this role, Baich will lead the firm’s global...
Wells Fargo CEO Grilled at Congressional Hearing Probing Customer Abuse Scandal
Mar 12 2019 // Democratic and Republican lawmakers on Tuesday pressed Wells Fargo & Co Chief Executive Tim Sloan for proof the bank has put a string of consumer abuse scandals behind it at a tense congressional hearing that saw Sloan...
7 Areas of Directors & Officers Liability to Watch in 2019
Jan 8 2019 // Risk management involves looking around the corner to spot future threats. When it comes to director and officer liability, the question is this: What’s on the horizon for directors and officers in 2019? Here are...
$10M Penalty in Wells Fargo California Case, Can’t Do New Business Until at Least 2020
Jan 2 2019 // Wells Fargo has agreed to pay a $10 million penalty as part of a settlement agreement with the California Department of Insurance. The settlement with the CDI, announced on Wednesday, resolves the department’s...
Wells Fargo to Pay States $575 Million in Sales Abuse Claims
Dec 28 2018 // Wells Fargo & Co. will pay $575 million to settle claims made by U.S. states that the bank created phony accounts and committed other customer abuses, according to a statement by the Iowa attorney general’s...
Fed Chair Says Wells Fargo Must Address Risk Management Before Any Growth
Dec 11 2018 // Wells Fargo & Co. must keep a lid on its growth until the bank has hardened its risk management policies to prevent any further abuse of its customers, said Jerome Powell, chairman of the Federal Reserve. In February,...
Wells Fargo Seeks to Limit Payout for Faulty Auto Insurance Plan
Nov 26 2018 // Wells Fargo & Co. is fighting to shut some customers out of a sweeping plan to compensate around 600,000 drivers it pushed into car insurance they did not need, according to court documents and a source familiar with...
Lawsuit Says Wells Fargo Executives Knew About Insurance Overcharges
Nov 7 2018 // Wells Fargo & Co. executives were warned that an auto insurance plan could be overcharging customers four years before the bank scrapped the program, according to a complaint released by a judge this week. Several...
7 Critical Areas Directors and Officers Should Watch in 2019
Nov 5 2018 // Risk management involves looking around the corner to spot future threats. When it comes to director and officer liability, the question is this: What’s on the horizon for directors and officers in 2019? Here are...
Wells Fargo Says Repaying Auto Insurance Customers to Take Until 2020
Oct 30 2018 // Wells Fargo & Co. will not finish paying back the estimated 600,000 customers it wrongly charged for auto insurance until at least 2020, the bank said in a letter to U.S. lawmakers seen by Reuters. U.S. regulators...
Class Action Claiming Wells Fargo Made Robocalls Seeks Triple Damages
Oct 29 2018 // A proposed class action lawsuit in San Francisco federal court accuses Wells Fargo of making tens of thousands of automatically dialed, or “robo,” calls to cell phones without consumers’ consent. Filed on...
Wells Fargo Will Pay $65M Penalty to New York Over Cross-Selling Practices
Oct 23 2018 // Wells Fargo & Co. will pay a $65 million penalty to New York state related to its cross-selling practices. The bank failed to disclose to investors that the success of its cross-selling – the pitching of...
Wells Fargo Must Do More to Repay Cheated Auto Insureds, Says U.S. Comptroller
Oct 3 2018 // Wells Fargo & Co. has not convinced U.S. regulators it is doing enough to repay 600,000 drivers who were wrongly pushed into buying auto insurance, a leading bank regulator said on Tuesday. “We are not...
Regulators Reject Wells Fargo’s Plan to Repay Insurance Customers: Reuters
Sep 12 2018 // U.S. regulators have rejected Wells Fargo & Co.’s plan to repay customers who were pushed into unnecessary auto insurance, telling the bank it must do more to ensure it has found and compensated every affected...
