Wells Fargo, Merrill to Pay $60 Million Penalties Over Cash Sweep Accounts: SEC
Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were profitable for the companies, the SEC said.
Wells Fargo firms, Merrill Lynch to pay $60 mln to settle SEC charges
The U.S. Securities and Exchange Commission (SEC) on Friday said a pair of Wells Fargo Advisory firms and Merrill Lynch have agreed to pay a combined $60 million in civil penalties to settle charges over compliance failures.
Wells Fargo’s investment chief has 15 pieces of advice for the next generation of investors—and even beginners could take note
Wells Fargo’s chief investment officer of wealth and investment management, Darrell Cronk, just sent his clients a 15-point list of his market musings over decades, according to
Wells Fargo, Merrill Cash-Sweep Accounts Shortchanged Clients, SEC Alleges
Investment adviser units of Wells Fargo & Co. and Bank of America Corp.’s Merrill shortchanged customers by funneling uninvested cash into sweep accounts that benefited the banks but not their clients,
Wells Fargo raises interest income forecast as strong dealmaking drives profit beat
Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%.
Wells Fargo Shares Rise as Bank’s Cost-Cutting Efforts Take Hold
Wells Fargo & Co. took a $647 million severance charge in the fourth quarter, as Chief Executive Officer Charlie Scharf continues to whittle headcount as part of broader efforts to slash costs and remake the bank.
Wells Fargo scandal: US bank regulator fines three former executives over fake accounts
The trio had been previously charged by the OCC in 2020, alongside other former senior leadership of the bank, but had opted not to settle.
Wells Fargo Q4 Earnings: Generally Strong But Signs Of Weakening
Learn about Wells Fargo & Company's strong Q4 earnings, 2025 guidance, and stock performance, with insights on selling covered calls. Click for this WFC update.
Alleged armed bank robber captured after Wells Fargo heist on College Street in Iowa City
: The suspect has been identified as Nickoles J. Deherrea, 39, of Iowa City.Deherrea now faces charges for first degree robbery.ORIGINAL:An alleged armed
Wells Fargo eyes customer engagement initiatives, growth
The bank laid out digital enhancements to its mobile app and plans to generate growth as regulatory burdens lift.
Wells Fargo's Fourth-Quarter Profit Tops Estimates
Wells Fargo reported earnings per share of $1.43 for the fourth quarter, beating Wall Street’s consensus estimate of $1.35. A year earlier, the bank reported profit of 86 cents a share. Net interest income,
Wells Fargo CFO says office CRE fundamentals ‘remain weak’
Wells Fargo's quarterly earnings call included discussion of what the eventual lifting of the Fed-imposed asset cap would mean for the bank's growth strategy.