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Sunday, December 8, 2019  Spokane, Washington  Est. May 19, 1883
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Stories tagged: wells fargo


UPDATED: Fri., July 28, 2017

Wells Fargo says it charged up to 570,000 customers for insurance they didn’t request or need

After reviewing records from 2012 through 2017, Wells Fargo identified about 570,000 customers who may have been wrongly pushed into these insurance policies and will give them “refunds and other …


UPDATED: Fri., July 14, 2017

Wells Fargo’s 2Q profit rises along with interest rates

Wells Fargo said its profit edged higher in the second quarter as the bank got a boost from rising interest rates and the planned sale of its insurance service business.


Police smash bank wall; free two trapped inside with suspect

Police smashed through a bank wall Friday afternoon and freed two people trapped inside with a man who claimed to have a bomb powerful enough to “take out the room.”


Wells Fargo guarantees settlement will repay customers hurt by unauthorized accounts

The bank said the customers will get back fees they paid and be fully compensated for damage done to their credit scores, according to documents filed early Wednesday to settle …


UPDATED: Wed., May 31, 2017

NYC latest city to cut back on ties with Wells Fargo

Mayor Bill de Blasio and Comptroller Scott Stringer said Wednesday they will vote as members of the city’s Banking Commission to bar city agencies from renewing or expanding existing contracts …


Wells Fargo may have created 1.4 million more unauthorized accounts than estimated, attorneys say

Wells Fargo & Co. may have opened as many as 3.5 million unauthorized checking, savings and credit card accounts over the past 15 years, far more than the bank and …


Wells Fargo said to explore sale of insurance brokerage unit

Wells Fargo is weighing a sale of its insurance brokerage business, which could fetch about $2 billion, people familiar with the matter said.


Wells Fargo faces shareholders, protesters at annual meeting

Wells Fargo’s top management and board of directors apologized to investors and faced a series of protesters Tuesday at the first big shareholder meeting since a scandal over sales practices …


Wells Fargo CEO, chairman buy $5 million of stock after review

Wells Fargo & Co. Chief Executive Officer Tim Sloan and Chairman Stephen Sanger bought more than $5 million of the company’s stock a week after the board published a report …


UPDATED: Mon., April 10, 2017

Wells Fargo claws back $75 million from top bosses in sales scandal

An investigation into sales practices at Wells Fargo released Monday has blamed the bank’s top management for creating an “aggressive sales culture” that led to a scandal involving millions of …


UPDATED: Fri., April 7, 2017

Advisory firm: Vote out most of Wells Fargo’s board

An influential firm that advises big shareholders says the majority of Wells Fargo’s board of directors should be removed at the bank’s annual shareholders meeting later this month, accusing the …


Missoula to pull $2.6 million from Wells Fargo accounts over oil pipeline investments

The Missoula City Commission has voted to pull $2.6 million of the city’s money from Wells Fargo accounts because the bank is invested in the Dakota Access Pipeline and because …


UPDATED: Tue., March 28, 2017

Wells Fargo to pay $110 million to settle fake account suit

Wells Fargo has agreed to pay $110 million to settle a class-action lawsuit over up to 2 million accounts its employees opened for customers without getting their permission, the bank …


Wells Fargo rolls out card-free access at all of its ATMs

Starting on Monday, Wells Fargo will be the first major U.S. bank to offer a card-free option at all of its ATMs. The bank’s customers will be able to use …


Wells Fargo CEO: Fixing fake accounts will take more time

Wells Fargo CEO Tim Sloan said the company could need several more months to resolve customer damage tied to its massive sales practices scandal, such as figuring out if people …


Business optimism back to pre-recession levels

Small business owners are as optimistic as they were before the Great Recession. That’s the finding of a quarterly survey by Wells Fargo, whose Small Business Index rose 20 points …


Wells Fargo cuts pay for CEO, other top executives

Wells Fargo’s board of directors slashed the bonuses and other compensation of its CEO and seven other top executives on Wednesday, a little more than a week after the board …


UPDATED: Tue., Feb. 28, 2017

Wells Fargo offers to end Seattle’s banking contract now

Wells Fargo has offered the city of Seattle the chance to break its contract now, after the city council voted to cut ties with the banking giant over its role …


UPDATED: Wed., Feb. 8, 2017

Wells Fargo says it’s obligated to see Dakota pipeline finished

Wells Fargo & Co. is committed to helping finance the Dakota Access pipeline, which will ship almost half a million barrels of crude a day from North Dakota’s shale fields …


UPDATED: Tue., Feb. 7, 2017

Seattle to cut ties with Wells Fargo over oil pipeline

The Seattle City Council on Tuesday voted to cut ties with banking giant Wells Fargo over its role as a lender to the Dakota Access pipeline project as well as …


Sen. Warren asks why Wells Fargo complaint website vanished under Trump administration

Sen. Elizabeth Warren wants the acting Labor secretary to explain why a website for complaints from Wells Fargo & Co. employees disappeared after President Donald Trump took office, and she …


Homebuilder confidence, sales outlook slip in January

U.S. homebuilders are feeling slightly less confident this month about their sales prospects, a pullback from December when builders’ confidence reached the highest level in 11 years.


Regulators reject Wells Fargo’s plan to prevent another taxpayer bailout of big banks

Wells Fargo still doesn’t have a credible plan for winding down its operations without taxpayer help if it should start to fail, federal regulators said Tuesday, putting new restrictions on …


Regulators slap curbs on Wells Fargo for ‘living will’ plan

WASHINGTON – Federal regulators have slapped restrictions on Wells Fargo, finding that the big bank failed to adequately plug holes in the plan it would deploy if it fell into …


Wells Fargo splits chairman, CEO roles after sales scandal

Wells Fargo is splitting the jobs of chairman and CEO and making other major changes to the composition of its board of directors in an effort to make the bank …


Wells Fargo must now get permission before handing executives ‘golden parachutes’

Federal regulators are moving to make it more difficult for Wells Fargo to make executive changes or give departing executives departure packages known as “golden parachutes,” the latest signal that …


Wells Fargo new accounts tumble 44% in wake of sales scandal

Wells Fargo & Co. said retail customers opened 44 percent fewer new accounts in October from a year earlier in the wake of the bank’s record-setting settlement with regulators over …


Luke McDonald, shot tackling a bank robber in April, said he’d do it again

Six months ago, Luke McDonald took two bullets in a gutsy attempt to subdue a bank robber at a Wells Fargo branch on North Division Street. Even though he walks …


Wells Fargo says SEC is investigating accounts scandal

Wells Fargo & Co. confirmed Thursday that the U.S. Securities and Exchange Commission has joined the growing number of state and federal agencies investigating the company’s sham-accounts scandal.


Wells Fargo will pay $50 million to settle allegations it overcharged homeowners for appraisals

Wells Fargo & Co. reached a $50 million settlement this week with homeowners who alleged that the bank marked up home appraisal fees for borrowers who defaulted on their residential …