Image Image Image Image Image Image Image Image Image Image Image Image

| October 22, 2018

Scroll to top


Fargo Archives -

Wells Fargo gives gun maker a new line of credit, unswayed by nuns’ opposition

October 7, 2018 |

Wells Fargo & Co. is doubling down on the gun industry, undaunted by criticism of its deep ties to firearm companies and the National Rifle Assn.

The San Francisco bank issued a $ 40-million line of credit last week to gun manufacturer Sturm, Ruger & Co., according to financial filings. That’s on…

L.A. Times – Business

Gary Cohn says he’s not in talks to become the next Wells Fargo CEO — but the rumors are revealing

September 19, 2018 |

Gary Cohn promptly denied it, but the rumor has been persistent and widespread on Wall Street: The former Goldman Sachs executive, who recently ended a stint as a White House advisor, had supposedly heard from Wells Fargo & Co. this year about becoming its next leader.

Approached by the New York…

L.A. Times – Business

Wells Fargo Fires Employees Over Food Orders

August 31, 2018 |

Some Wells Fargo employees are losing their jobs for an unexpected reason—bogus receipts over meals. The Wells Fargo Securities employees, who are reimbursed for at-work meals after 6:30pm, were found to have altered time stamps on receipts for meals ordered earlier, sources tell the Wall Street Journal . The…

Wells Fargo is cutting 600-plus mortgage jobs as that business slows

August 27, 2018 |

Wells Fargo & Co. is cutting 638 mortgage employees, including 190 in California, as the nation’s largest home lender contends with a slowdown in the business.

“After carefully evaluating market conditions and consumer needs, we are reducing to better align with current volumes,” Wells Fargo spokesman…

L.A. Times – Business

Florida Candidate Dumped by Wells Fargo Over Marijuana

August 21, 2018 |

A political candidate in Florida has been dropped as a customer by Wells Fargo for her ties to and support of medical marijuana. Per the Tampa Bay Business Journal , Democratic candidate for agriculture commissioner Nikki Fried was forced to move her campaign funds to another institution because of this stance….

Wells Fargo foreclosed on 400 people who may have had chance to keep their homes

August 4, 2018 |

Wells Fargo & Co. foreclosed on 400 homeowners after improperly denying them loan modifications that could have allowed them to stay in their homes, the bank said in a regulatory filing Friday.

From 2010 to 2015, amid the recovery from the housing bust that caused millions of Americans to lose…

L.A. Times – Business

Fargo , Dead? Not With Chris Rock Coming on Board

August 3, 2018 |

Chris Rock is returning to FX, but don’t expect any standup. The funny man will star in season four of Fargo as the head of a black crime family in Kansas City, Missouri, in 1950, Variety reports. The show will depict Rock’s syndicate and an Italian family in an uneasy…

Wells Fargo to pay $2.09 billion to settle probe into crisis-era mortgage abuses

August 2, 2018 |

Ten years after faulty mortgages upended the global financial system, Wells Fargo & Co. agreed to pay $ 2.09 billion to settle a U.S. investigation into its creation and sale of loans that contributed to the disaster.

The long-anticipated penalty, announced Wednesday, is in line with what some analysts…

L.A. Times – Business

Wells Fargo earnings fall as bank reports a tax hit, fewer loans and deposits

July 13, 2018 |

Wells Fargo & Co. on Friday reported lower-than-expected earnings for the second quarter and said it set aside nearly half a billion dollars to pay additional state taxes in the wake of a recent U.S. Supreme Court decision.

The San Francisco financial giant reported net income of $ 5.2 billion,…

L.A. Times – Business

Wells Fargo fined by SEC for brokers ‘flipping’ investments before they matured

June 25, 2018 |

Wells Fargo & Co. will pay $ 5.1 million to settle a U.S. regulator’s claims that employees abused clients by persuading them to sell certain investments before maturity, generating large fees for the lender.

Brokers with Wells Fargo Advisors, from January 2009 to June 2013, encouraged retail customers…

L.A. Times – Business