Latest Wells Fargo Headlines
All the headlines from our Wells Fargo Topic Page, ordered by recency.
Wells Fargo Nears $142 Million Consumer Settlement Over Fake Accounts
Jul 11 2017 // A California judge has granted a preliminary approval for Wells Fargo & Co.’s agreement to pay $142 million, and perhaps more, to customers whose credit scores were harmed by its employees creating fake accounts...
USI Wins Competition to Acquire Wells Fargo Insurance Businesses
Jun 27 2017 // Wells Fargo is selling its commercial insurance business to national brokerage USI Insurance Services. USI said it has agreed to acquire Wells Fargo Insurance Services USA that includes commercial insurance brokerage and...
Alliant, USI in Running to Acquire Wells Fargo Insurance
Jun 26 2017 // Alliant Insurance Services Inc. has emerged as the front-runner to buy Wells Fargo & Co.’s insurance business, people familiar with the matter said. The San Francisco-based bank could announce a sale of its Wells...
Justice Department Sides with Whistleblowers Fired by Wells Fargo
Jun 8 2017 // The U.S. Justice Department filed a friend-of-the-court brief on Tuesday in a lawsuit brought against Wells Fargo & Co. by two former employees, who were fired after they reported misdemeanors they had noticed to their...
California Lawmakers May Allow Consumers to Sue Banks Instead of Arbitration
Jun 1 2017 // California lawmakers are making headway on legislation to allow state residents to sue financial institutions for fraud, rather than letting banks force customers to settle disputes in arbitration. The state Senate passed...
City of Philadelphia Sues Wells Fargo, Alleges Predatory Lending
May 17 2017 // The City of Philadelphia sued Wells Fargo & Co. on Monday, accusing the largest U.S. mortgage lender of predatory lending, which violates the federal Fair Housing Act. The lawsuit came two weeks after the U.S. Supreme...
Lockton Hires Wells Fargo’s Galioto as Senior VP in Minneapolis
May 11 2017 // Angelo Galioto has joined insurance broker Lockton Companies as a senior vice president in its Minneapolis office. Lockton is the world’s largest privately held, independent insurance broker. Galioto brings 20 years...
Wells Fargo Weighing Sale of Insurance Brokerage Business: Bloomberg
May 9 2017 // Wells Fargo & Co. is weighing a sale of its insurance brokerage business, which could fetch about $2 billion, people familiar with the matter said. The San Francisco-based lender has begun reaching out to private...
OSHA Orders Wells Fargo to Rehire Whistleblower, Pay $5.4 Million
Apr 4 2017 // The federal government has ordered Wells Fargo to reinstate a former bank manager who lost his job after reporting suspected fraudulent behavior at the bank. The Labor Department’s Occupational Safety and Health...
Wells Fargo Settles Sham Account Claims for $110 Million
Mar 29 2017 // Wells Fargo & Co. said it agreed to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank’s chief...
Wells Fargo Market Outlook Offers Favorable News for Cyber Security
Feb 6 2017 // San Francisco, Calif.-based Wells Fargo Insurance released its 2017 Insurance Market Outlook and Employee Benefits Outlook report in late January, which shows this year’s property/casualty insurance market will again...
Labor Department’s Wells Fargo Whistleblower Site Taken Down
Jan 30 2017 // Democratic Senator Elizabeth Warren on Friday accused the U.S. Labor Department of dismantling a website designed to help Wells Fargo workers file whistleblower retaliation and other complaints against the bank, and asked...
Wells Fargo Market Outlook Has Favorable News for Cyber Security
Jan 26 2017 // San Francisco, Calif.-based Wells Fargo Insurance released its 2017 Insurance Market Outlook and Employee Benefits Outlook reports showing this year’s property/casualty insurance market will again be favorable to...
Wells Fargo Overhauls Pay Plan for Branch Employees Following Scandal
Jan 11 2017 // San Francisco, Calif.-based Wells Fargo is completely restructuring how it pays tellers and other bank branch employees after a scandal over its aggressive sales practices. Employees will no longer get incentives for...
Wells Fargo Settles Brokers’ Claims of Racial Bias
Jan 3 2017 // Wells Fargo & Co. settled a dispute with a group of black brokers claiming the bank failed to give them the same career opportunities as their white colleagues. The bank will pay $35 million to more than 500 financial...
California Commissioner Orders Investigation into Charges against Wells Fargo
Dec 12 2016 // Update: This story has been updated with a response from Wells Fargo. Insurance Commissioner Dave Jones today directed the California Department of Insurance to launch an investigation into allegations made by former...
Senate Bill Would Let Wells Fargo Customers Sue in Court, Bypass Arbitration
Dec 2 2016 // Legislation introduced by two Democratic lawmakers on Thursday would allow Wells Fargo & Co. customers to go to court, instead of private arbitration, to resolve claims about accounts opened without authorization,...
Wells Fargo Banks on Arbitration to Settle Fake Account Claims
Nov 29 2016 // Wells Fargo & Co. is trying to keep dozens of customers suing over bogus accounts opened by its employees out of court, saying they agreed to resolve any disputes in arbitration when they began doing business with the...
Wells Fargo Facing Suit by Employees Over Retirement Funds Management
Nov 28 2016 // Wells Fargo & Co. faces a new U.S. lawsuit claiming that it funneled more than $3 billion of employee retirement savings into expensive, underperforming proprietary mutual funds to enrich itself. The proposed...
Wells Fargo Account Scandal Included Small Businesses, Says Senator
Oct 5 2016 // The scandal over improper sales practices at Wells Fargo & Co extended to thousands of small-business owners, according to a U.S. lawmaker, raising questions about the scope the bank’s issues with unauthorized...
