WELLS FARGO SELLS ITS $10 BILLION PRIVATE STUDENT LOAN PORTFOLIO

Highlights

• This move comes at a time in the middle of a directive under CEO Charlie Scharf to bring down the expenses and retrench the San Francisco based banking firm into its core businesses

• Wells Fargo announced this decision on December 18 after notifying all...

U.S. ECONOMY WILL PROBABLY REBOUND NEXT YEAR AFTER VACCINES ARE DISTRIBUTED: WELLS FARGO CEO SCHARF

Highlights

• Wells Fargo CEO said the action taken by the federal government at the beginning of the COVID-19 pandemic was extremely impactful in propping up households and businesses

• Similar to the majority population, Scharf believes the development of vaccines a...

COVID-19 IMPACT: WELLS FARGO & CO. CUTS OVER 700 COMMERCIAL-BANKING JOBS

Highlights

• As per a statement given by Wells Fargo spokeswoman Katie Ellis, the company is at the beginning of a multiyear effort to build a stronger, more efficient company for its customers, employees, communities and shareholders

• While several banking firms in...

WELLS FARGO & CO. TO RESUME LAYOFFS AS PART OF THEIR COST CUTTING INITIATIVE

Highlights –

• Wells Fargo & Co. to resume layoffs as part of their cost cutting initiative.
• The bank had initially paused its layoffs in March due to the pandemic.
• The bank also plans to close several of its branches.
• Th...

WELLS FARGO BANK REPORTED ITS FIRST QUARTERLY LOSS THIS YEAR

Highlights –

• Wells Fargo bank reported its first quarterly loss this year.
• The bank reported a loss of over $2.4 billion in the second quarter.
• The shares of the bank fell by 4.1% in premarket trading.
• A year ago, the bank...

LIFETIME BAN ON WELLS FARGO FORMER CEO JOHN STUMPF

Highlights

• Former CEO banned from banking
• Fined $17.5 million

On Thursday, Wells Fargo Former CEO John Stumpf has agreed to a lifetime ban from the banking industry and fined $17.5 million for his role in leading the bank through its...

Wells Fargo, the worst bank in America, announces that it is time to fix its busting technology

Anyone who is banked with Wells Fargo is already acquainted with its appallingly outdated technology and maddening user experience. Apparently, even the company knows it's bad— really, very bad— and its new survival strategy reportedly includes pushing its shameful software into t...

The reason why Wells Fargo values Data and Analytics

The widely-based financial services firm, Wells Fargo, relishes a customer base of nearly 70M due to its excellent services. Of course, analytics is a huge piece for any financial firm, however, at Wells Fargo, the significant of analytics is at a whole next level as it invests heavily in it and ...

A Round-up of information breaks in December 2019

A phishing effort focusing on Canadian banks has been identified with a money order Point motors. The crusade includes making several carbon copy spaces of various banks including Royal Bank of Canada (RBC), Scotiabank, Wells Fargo, CIBC and TD Canada Trust. On account of RBC, the assaults are co...

Wells Fargo lays off more than 200 business financiers in the US

Wells Fargo has laid off more than 200 financiers in its US loaning divisions as of late, as the bank responded to business slants and rebuilt a few units, sources acquainted with the issue said for the current week.

A significant number of the farming cuts were moved in rustic territor...

Intel Downgraded by Wells Fargo on Lower Demand

Wells Fargo & Co. (NYSE: WFC) lowered its rating of Intel (NASDAQ: INTC) shares to market perform from outperform on Friday. The firm said that Intel is facing weakening demand in 2019 and rising competition against Advanced Micro Devices (NASDAQ: AMD), according to CNBC. Intel shares edged l...