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Wednesday, April 1, 2020  Spokane, Washington  Est. May 19, 1883
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Stories tagged: wells fargo

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 …

New Wells Fargo CEO to employees: ‘We’re sorry’

Newly appointed Wells Fargo CEO Tim Sloan told employees Tuesday that he is “sorry for the pain” that the bank’s employees have suffered as a result of the company’s sales …

Wells Fargo’s ad campaign addresses sales scandal

Wells Fargo launched a new advertising campaign this week to address the company’s ongoing sales practices scandal and what it is doing to make things right for its customers.

Huckleberries: Fantasy gamer past haunts magistrate

There are few political yard signs in Kootenai County this fall. Maybe everyone is afraid to admit whom they support. Or they fear that fanatical followers of extreme candidates might …

Ohio to suspend doing business with Wells Fargo

Ohio’s Republican Gov. John Kasich announced Friday that he was suspending Wells Fargo from doing business with state agencies, and excluding the bank from participating in any state bond offerings.

Senators push for detailed Wells Fargo investigation

Senate Democrats have written to Attorney General Loretta Lynch pressing the Justice Department to specifically investigate the actions of senior Wells Fargo officials in the recently revealed scandal about fake …

Senator to push bill to let Wells Fargo customers sue over unauthorized accounts

Sen. Sherrod Brown, D-Ohio, said Monday he plans to push legislation that would allow Wells Fargo & Co. customers to sue the bank over unauthorized accounts opened by employees trying …

Illinois suspends $30 billion in Wells Fargo activity; bank ‘sorry’

Illinois state Treasurer Michael Frerichs suspended $30 billion in state investment activity with Wells Fargo on Monday, joining a swelling chorus of outrage over the scandal which saw bank employees …

Consumer Confidential: Did Wells Fargo go after seniors?

Wells Fargo may have gone out if its way to take senior citizens to the cleaners when the bank’s workers fraudulently opened as many as 2 million accounts without customers’ …

Wells Fargo claws back part of CEO, other executive’s salary

Wells Fargo says CEO John Stumpf and the executive who ran the bank’s consumer banking division will forfeit tens of millions of dollars in bonuses as it tries to stem …

Wells Fargo faces Labor Department review for possible workplace violations

The Labor Department has launched a “top-to-bottom review” of how Wells Fargo & Co. treated employees as it pushed the aggressive sales quotas that led to the bank’s fake-accounts scandal.

Pressures mount on Wells Fargo following fake-accounts scandal

Pressure mounted on Wells Fargo & Co. Friday following its fake-accounts scandal, as the bank faced new calls to allow affected customers to file lawsuits and for the board of …

Dana Milbank: Wells Fargo earns bipartisan contempt

The bank’s fraud, and the executive’s insolence, may have one salutary result: It takes off the agenda any plan to dismantle the Consumer Financial Protection Bureau.

At Wells Fargo, sales focus was all-consuming, workers say

It began with the constant and compulsive pressure to sell. Then came stress-induced health problems. Wells Fargo employees, both current and former, say they spent every day frantically trying to …

Wells Fargo CEO apologizes on Capitol Hill as senators heap criticism on bank

The CEO of Wells Fargo faced accusations of fraud and calls for his resignation Tuesday from harshly critical senators at a hearing over allegations that bank employees opened millions of …

Wells Fargo scandal puts focus on ‘clawbacks’ of executive compensation

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.

Outside View: Wells Fargo proves oversight needed

The executive who oversaw the community banking division, Carrie Tolstedt, is walking away later this year with a $125 million retirement package.

Wells Fargo eliminating certain sales goals after settlement over aggressive tactics

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 …

Aviation company faces financial woes, plummeting stock

An aviation company in Portland is struggling financially after seeing its sales plummet in recent years.

FBI arrests man suspected of robbing bank, shooting customer

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.

In Brief: Raptors beat Heat in OT to tie series

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 …

Man shot in Spokane bank robbery recounts attack

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 …

Bank robber shoots man at Wells Fargo in North Spokane

Spokane Police are searching for one suspected bank shooter Thursday near the Wells Fargo on North Division.

Some big U.S. banks have 6 months to present disaster plans

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 …

Supreme Court rejects Wells Fargo appeal of verdict on overdraft fees

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.

Rhode Island, Wells Fargo charged with fraud for 38 Studios deal

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, …

Wells Fargo to pay $1.2B federal mortgage settlement

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 to pay $81.6 million to homeowners in bankruptcy

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 …