Wells Fargo

Jerome Powell was sworn in as the new chairman of the Federal Reserve today. But it’s his predecessor, Janet Yellen, who’s making waves in the markets. Last Friday, in one of her last actions as Fed chair, Yellen slapped an unprecedented penalty on Wells Fargo. The bank can no longer grow larger until it makes […]

As Wells Fargo and JP Morgan Chase report earning this week, analysts are looking ahead and anticipating that the tax bill, regulatory rollbacks, and a sound overall economy with low unemployment will mean a strong year for banks. Click the audio player above to hear the full story. 

Federal Reserve Chair Janet Yellen said the Fed is prepared to take action against Wells Fargo but won’t say when. For its part, Wells Fargo said it’s committed to making things right for its customers and is eliminating sales goals for retail bankers in its branches and call centers.  

Scandal-besieged Wells Fargo seems to be cleaning up its act. It’s replacing three of 15 board members, including the chairman. Stephen Sanger will step down at the end of the year and current Vice Chair Elizabeth Duke will take his place. Is this a real change for the bank? Click the audio player above to […]

First, there was a scandal over millions of fake Wells Fargo accounts that broke last year. Then, accusations of changes to mortgages without notifying customers. Now, Wells Fargo faces a class-action lawsuit over selling car insurance policies to hundreds of thousands of customers who did not need it from 2012 to 2017. All this could […]

Starting next Monday, customers of Wells Fargo bank will be able to make ATM withdrawals nationwide without a card using a smartphone. The trend could spread quickly to other banks around the country as consumers grow more used to advanced banking technology. Click the audio player above to hear the full story.

Over many years, bank workers opened more than 2 million accounts and credit cards without customers' permission.