Wells Fargo: Computer Glitch Denied Loan Modifications To Hundreds Of HomeownersThe bank said in a filing Friday the error caused about 625 customers to be denied, or not offered, loan modifications they otherwise qualified for. Foreclosures were completed in about 400 of the cases.
Feds Hit Wells Fargo With Staggering $1B Fine For Unfair Customer FeesWells Fargo apologized last year for charging as many as 570,000 clients for car insurance they didn't need.
The Fed Drops The Hammer On Wells FargoThe Fed handed down unprecedented punishment for what it called the bank's "widespread consumer abuses," including its notorious creation of millions of fake customer accounts.
Wells Fargo Customers Find Accounts Drained By GlitchWells Fargo says they have fixed a glitch that caused some online bill payments to be processed twice, sending some account balances to zero or negative.
Wells Fargo Execs, Currency Trader Out In Possible Fallout From Consumer InvestigationsThree high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another over auto insurance practices.
Wells Fargo Apologizes For Overcharging Car Loan Policy HoldersNearly 275,000 customers became delinquent on their loans after being overcharged each month.
Wells Fargo To Pay $110 Million To Settle Fake Account LawsuitThe settlement will include customers who had accounts opened without their permission, or were signed up for a product they did not agree to, going back to Jan. 1, 2009.
Claim Accuses Wells Fargo Of Denying Loans To DREAMersA federal lawsuit accuses banking giant Wells Fargo of illegally denying student loans to young immigrants who are protected from deportation and allowed to work and study in the U.S. under a program created by former President Barack Obama.
Wells Fargo CEO John Stumpf Resigns Effective ImmediatelyWells Fargo's embattled CEO John Stumpf has resigned, effective immediately, as the nation's second-largest bank is roiled by a scandal over its sales practices.
Rep. Maxine Waters Calls For Wells Fargo To Be Broken UpThe panel's senior Democrat, Rep. Maxine Waters of California, was adamant that the alleged abuses show that the second-largest U.S. bank is too big for senior executives to keep track of what's going on.
California Suspends State Investments With Wells Fargo Over Bank's 'Fleecing Of Its Customers' California Treasurer John Chiang says he's suspending some of the state's business with Wells Fargo amid a scandal over two million accounts allegedly opened without customers' permission.
$185M Settlement Reached With Wells Fargo Over Unauthorized AccountsWells Fargo will pay $50 million in penalties to the city of Los Angeles and restitution to customers as part of a settlement resolving litigation alleging the company opened up bank accounts without customers' permission.