Wells Fargo News

Wells Fargo Market Outlook Has Favorable News for Cyber Security

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 buyers. According to the surveys, most sectors will see a flat to …

Wells Fargo Overhauls Pay Plan for Branch Employees Following Scandal

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 opening accounts or meeting sales goals. They will …

Wells Fargo Beats Appeal Over Voided Money Store Verdict

A federal appeals court on Friday rejected a bid to revive a $54.8 million jury verdict against Wells Fargo & Co, saying the trial judge had authority to take the “drastic step” of decertifying the class action after the award …

Cyber Bank Thieves Stole $12M from Ecuador Bank in 2015, Using SWIFT System

Shortly after 7 p.m. on January 12, 2015, a message from a secure computer terminal at Banco del Austro (BDA) in Ecuador instructed San Francisco-based Wells Fargo to transfer money to bank accounts in Hong Kong. Wells Fargo complied. Over …

Oregon Man Says Wells Fargo Axed Him after Whistleblowing

A Damascus, Ore. man has filed a lawsuit accusing Wells Fargo & Co. of firing him after he alerted them of issues in mortgage procedures. According to a lawsuit unsealed last week, Duke Tran said he complained that the bank …

West Virginia to Receive $8M From Wells Fargo in Marketing Practices Dispute

Wells Fargo will pay $8 million to West Virginia as part of a settlement of a decade-long dispute involving marketing practices. Attorney General Patrick Morrisey announced Monday that Wells Fargo will pay the money to the Office of the Attorney …

Minnesota Vikings Sue Wells Fargo over Rooftop Signs

The Minnesota Vikings say Wells Fargo is using illuminated rooftop signs on two buildings near the team’s new stadium in an effort to “photo bomb” the facility, which is named for a Wells Fargo competitor. The Vikings sued Wells Fargo …

Wells Fargo, Telemundo Partner on Financial Literacy Campaign for Hispanics

Wells Fargo of San Francisco has partnered with Miami-based media giant Telemundo for a six-week media campaign targeting financial literacy within the Hispanic community. Launched Oct. 13, “Conversemos de Tus Finanzas” is focused on empowering Hispanics to enhance their financial …

Farm Bill Keeps Lawmakers’ Own Crop Insurance Payouts Secret

Crop insurers successfully lobbied to keep several proposals out of the farm bill set to pass the U.S. Congress today — such as a requirement that would have forced farmer-lawmakers to disclose benefits they receive. Senate Clears Farm, Crop Insurance …

Wells Fargo in California Rebrands Special Risks to Safehold

San Francisco, Calif.-based Wells Fargo Insurance is rebranding its special risks group to Safehold Special Risk Inc. The new entity combines the division’s five practices: Wells Fargo Special Risks, Digital Risk, Britt Paulk, Agency Resources and Harbor Risk. Products and …