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When the Senate Banking Committee grills Wells Fargo & Co.’s chairman Tuesday about the banking giant’s sales scandal, look for the word “clawback” to come up more than once.
The executive who oversaw the community banking division, Carrie Tolstedt, is walking away later this year with a $125 million retirement package.
Wells Fargo & Co. said Tuesday that it would eliminate all sales goals for credit cards, checking accounts and other retail banking products as the financial giant tries to repair its image following a $185 million settlement over aggressive sales tactics.
An aviation company in Portland is struggling financially after seeing its sales plummet in recent years.
The FBI has arrested a man they believe shot a customer during a robbery at the Wells Fargo Bank at 7404 N. Division in April.
DeMarre Carroll scored 21 points, Jonas Valanciunas had 15 points and 12 rebounds, and the Toronto Raptors beat the Miami Heat 96-92 in overtime on Thursday night in Toronto to even the Eastern Conference semifinals at one game apiece.
At first, when he heard the command, “everybody get down,” he thought it was a joke. Luke, who asked that his last name not be used, was depositing a check at the Wells Fargo on the corner of North Division Street and Cozza Drive when a masked man entered, Thursday just before 6 p.m. The man told the four customers, which included a young mother and her infant, and four bank employees to get down, Luke said.
Spokane Police are searching for one suspected bank shooter Thursday near the Wells Fargo on North Division.
Americans stepped back from buying new homes in March, the third straight monthly decline as sales plunged sharply in the Western states.
WASHINGTON – Construction of new homes fell in March by the largest amount in five months, with weakness in all regions of the country except the Northeast. Home construction dropped 8.8 percent to a seasonally adjusted annual rate of 1.09 million units, the Commerce Department reported Tuesday. It was the third decline in the past four months and left construction at its slowest point since October.
Five of the biggest U.S. banks have six months to get their disaster plans in shape. That’s the message regulators issued Wednesday after giving the banks failing grades for the strategies they would deploy if they tumbled into bankruptcy.
The Supreme Court on Monday let stand a $203 million verdict in favor of Californians who were repeatedly charged overdraft fees by Wells Fargo Bank a decade ago.
The U.S. Securities and Exchange Commission on Monday charged Rhode Island’s economic development agency and Wells Fargo with defrauding investors for the state’s disastrous $75 million deal with 38 Studios, the failed video game company started by former Red Sox pitcher Curt Schilling.
Wells Fargo has agreed to a $1.2 billion settlement to resolve a long-running mortgage dispute with the U.S. government, a move that slashes the bank’s 2015 profit by $134 million.
Wells Fargo Bank has agreed to pay $81.6 million to settle claims that it failed to notify homeowners in bankruptcy of changes in their mortgage payments. The Department of Justice said Thursday that the lender’s failure to give borrowers timely notice of payment hikes or reductions violated a federal bankruptcy rule aimed at ensuring proper accounting of consumers’ costs in bankruptcy.
The FBI said a bank robbery in downtown Spokane on Friday might have been committed by the “Roscoe Bandit,” who is suspected of robbing three banks in Western Washington. Spokane police spokeswoman Officer Teresa Fuller said police responded about 11 a.m. to Numerica Credit Union, 502 W. Riverside Ave.
Spokane police arrested a man allegedly attempting to rob a Wells Fargo bank on the South Hill just four minutes after the bank's alarm sounded.
Wells Fargo (NYSE: WFC) is one of America’s biggest banks and its largest mortgage lender. Recently sporting a dividend yield of about 2.9 percent and having hiked that payout aggressively in recent years, it warrants a closer look. Wells Fargo recently posted its third-quarter results, and they featured record net income (up 14 percent over year-ago levels), a continuing increase in return on equity, and four businesses growing by double digits: credit cards, personal credit management, retail sales finance and retirement services. The bank’s credit quality has been improving, too, with total credit losses of $975 million vs. $2.4 billion a year ago. Wells Fargo has been quite successful in cross-selling, getting existing customers to sign up for new products or services.
EVERETT, Wash. (AP) — An Everett, Wash., police spokesman says people noticed when a man approached a Wells Fargo bank branch with a shirt covering the lower part of his face and paint on the upper part. And the passers-by called police.
Spokane police arrested a Spokane County Jail inmate for the armed robbery of a South Hill bank.