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Wells Fargo & Co (WFC.N)

WFC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Wells Fargo announces agreement in principle to settle class action lawsuit regarding retail sales practices
Tuesday, 28 Mar 2017 04:59pm EDT 

Wells Fargo & Co - : Wells Fargo announces agreement in principle to settle class action lawsuit regarding retail sales practices . Settlement amount of $110 million will be set aside for customer remediation . Wells Fargo had fully accrued for amount of the settlement at December 31, 2016 . Settlement class will include all persons who claim that Wells Fargo opened an account in their name without consent . Expects settlement to resolve claims in 11 other pending class actions that unauthorized accounts were opened in customers' names or that customers were enrolled without their consent . Wells Fargo & Co - "In order to move forward and avoid continued litigation, wells fargo agreed to this settlement notwithstanding arbitration clause" . Settlement will include persons who says co enrolled them in product or service without consent from Jan 1, 2009, through date settlement agreement is executed .Wells Fargo says settlement class will also include persons who says Wells Fargo submitted an application for a product or service in their name without consent.  Full Article

Wells Fargo announces Community Reinvestment Act rating
Tuesday, 28 Mar 2017 01:00pm EDT 

Wells Fargo & Co : Wells Fargo announces community reinvestment act rating . Says "disappointed" with the office of comptroller of currency's final rating of bank .Says "we are committed to addressing OCC's concerns".  Full Article

Wells Fargo reports February retail banking customer activity
Monday, 20 Mar 2017 11:30am EDT 

Wells Fargo & Co : Wells Fargo reports February retail banking customer activity . Feb total branch interactions down 1% LM, and down 11% YOY . Says for Feb average consumer and small business deposit balances down modestly LM, but up 6% YOY . February new consumer credit card applications down 4% LM, and down 0.2 million, or 55%, YOY . Feb point-of-sale debit card transactions down 2% LM, but up modestly YOY . Says for Feb primary consumer checking customers of 23.5 million, up modestly LM, and up 1.9% YOY . Feb customer-initiated consumer checking account closures down 10% on linked month basis and 11% YOY .Feb point-of-sale active consumer credit card accounts of 7.5 million, down 2% LM, but up 4% YOY.  Full Article

Wells Fargo promotes Grant Friesth to central division manager for middle market banking
Tuesday, 14 Mar 2017 11:57am EDT 

Wells Fargo & Co : Wells fargo promotes friesth to central division manager for middle market banking .Grant Friesth to lead commercial banking operations across four states.  Full Article

Wells Fargo & Co names Allen Parker general counsel
Monday, 6 Mar 2017 02:05pm EST 

Wells Fargo & Co : Wells fargo names Allen Parker general counsel . C. Allen Parker will join company as its senior executive vice president and general counsel .Parker will succeed James Strother, who will retire from same role after 30 years with company and 13 years leading law department.  Full Article

Ciber says enters waiver and amendment with Wells Fargo
Monday, 6 Mar 2017 08:39am EST 

Ciber Inc : On March 3, 2017, entered into waiver and amendment no. 11 with Wells Fargo Bank NA - SEC filing . Amendment no. 11 waives existing events of default but retains all of Wells Fargo's rights under credit facility .Amendment no 11 requires that co permanently repay all of outstanding balance under credit facility on or before March 31, 2017.  Full Article

Wells Fargo files for potential mixed shelf, size undisclosed - SEC filing
Friday, 24 Feb 2017 04:47pm EST 

Wells Fargo & Co : Wells fargo & co files for potential mixed shelf; size undisclosed - sec filing Source :(http://bit.ly/2lD9Iuk) Further company coverage: [WFC.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Wells fargo names two new independent directors
Monday, 20 Feb 2017 04:00pm EST 

Wells Fargo & Co : Wells fargo names two new independent directors .Says elected Karen Peetz and Ronald Sargent as new independent directors.  Full Article

Wells Fargo says Jan consumer checking account opens down 31 pct
Friday, 17 Feb 2017 11:00am EST 

Wells Fargo & Co : Total branch interactions for January were down 12% from December . Wells fargo reports january retail banking customer activity . Average consumer and small business deposit balances were stable from December 2016 and up 7% YOY for Jan . January consumer checking account opens were up 18% linked month due to typical seasonality, but down 0.2 million, or 31%, YOY . Jan new consumer credit card applications were up 8% versus linked month .Jan customer-initiated consumer checking account closures were up 1% on linked month basis and 4% YOY.  Full Article

Wells Fargo & Co says issued $2 bln floating rate notes due Feb. 11, 2022
Monday, 13 Feb 2017 09:41am EST 

Wells Fargo & Co :Says issued $2 billion floating rate notes due February 11, 2022 - sec filing.  Full Article

More From Around the Web

Photo

Wells Fargo board gets black eye in shareholder vote

PONTE VEDRA BEACH, Fla./BOSTON Wells Fargo & Co shareholders showed displeasure with the scandal-hit bank's board on Tuesday, offering scant support for a dozen directors, including Chairman Stephen Sanger, in a vote capping a contentious annual meeting. | Video