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Wells Fargo & Co (WFC.N)

WFC.N on New York Stock Exchange

47.97USD
29 Jul 2016
Change (% chg)

$-0.16 (-0.33%)
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$48.13
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$47.96
Volume
4,484,739
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$44.50

Latest Key Developments (Source: Significant Developments)

Wells Fargo & Co announces increased dividend
Tuesday, 26 Apr 2016 02:16pm EDT 

Wells Fargo & Company:Says quarterly common stock dividend of $0.38 per share, an increase of a half-penny or 1 percent, per share from the prior quarter.Payable June 1, 2016, to stockholders of record on May 6, 2016, as approved today by the Wells Fargo board of directors.  Full Article

Wells Fargo & Co , R.I. agency charged with fraud for 38 Studios bonds-SEC - Reuters News
Monday, 7 Mar 2016 10:48am EST 

Wells Fargo & Co:The U.S. Securities and Exchange Commission, on Monday, charged a Wells Fargo & Co unit and Rhode Island Economic Development Corp with civil fraud stemming from a bond offering for 38 Studios, a now-bankrupt videogame company. - RTRS.Wells Fargo Securities and the economic development agency defrauded investors in order to finance the videogram startup, founded by former Boston Red Sox pitcher Curt Schilling.The SEC's charge arose from a $75 million bond offering that was part of a Rhode Island program intended to spur economic development and create jobs, the SEC said. A Wells spokesman was not immediately able to comment.  Full Article

Wells Fargo & Co - UBS, others reach $103 million muni bond rigging settlements - Reuters
Wednesday, 24 Feb 2016 10:38pm EST 

Wells Fargo & Co:UBS AG and five other banks and brokerages agreed to pay roughly $103 million to settle claims that they conspired to rig prices for U.S. municipal securities.Wednesday's accords include payments of $100.5 million to investors. Two of the defendants, France's Natixis SA and Societe Generale, also agreed to pay $2.8 million to resolve related claims by 21 U.S. states and Washington, D.C.If approved by a federal judge, the private settlements would end nearly eight years of class action litigation, and result in more than $226 million of payouts from 11 defendants, led by $44.6 million from JPMorgan Chase & Co.Several banks have during that time also agreed to pay more than $740 million, led by JPMorgan's $228 million, to resolve related probes by the U.S. Department of Justice and state regulators. At least 17 people were convicted or pleaded guilty, the Justice Department has said.Wednesday's private settlements included $32 mln with UBS, $28.45 mln with Natixis, $25.41 mln with Societe Generale, $9.75 mln with Piper Jaffray Cos, $3.5 mln with Royal Bank of Scotland Group Plc's National Westminster Bank, and $1.4 mln with George K. Baum & Co, court papers show.Other defendants that have settled with investors and regulators are Wells Fargo & Co WFC.N, Bank of America Corp BAC.N and General Electric Co GE.N, UBS has also settled with regulators, and Morgan Stanley MS.N with investors.  Full Article

Wells Fargo sets qtrly common stock dividend of $0.375 per share
Tuesday, 26 Jan 2016 04:17pm EST 

Wells Fargo & Co:Sets quarterly common stock dividend of $0.375 per share.says board of directors also increased the company's authority to repurchase common stock by an additional 350 million shares.  Full Article

U.S. regulators probe Wells Fargo & Co sales practices -WSJ - Reuters
Monday, 30 Nov 2015 12:12pm EST 

Wells Fargo & Co:U.S. regulators are investigating whether Wells Fargo & Co has pushed employees too hard to meet sales targets while turning a blind eye to questionable behavior, The Wall Street Journal reported on Monday - RTRS.The Office of the Comptroller of the Currency and the San Francisco Federal Reserve are conducting the investigations, according to the report - RTRS.A Wells Fargo spokeswoman said the bank does not comment on discussions with regulators, although she did reply to questions about a separate lawsuit from the Los Angeles City Attorney. Spokesmen for the regulators had no immediate response - RTRS.  Full Article

Wells Fargo & Co Announces Dividend
Tuesday, 27 Oct 2015 04:15pm EDT 

Wells Fargo & Co:Says a quarterly common stock dividend of $0.375 per share.The dividend is payable Dec. 1, to stockholders of record on Nov. 6.  Full Article

Wells Fargo and Credit Suisse U.S. Private Banking announce exclusive recruiting arrangement
Tuesday, 20 Oct 2015 05:18pm EDT 

Wells Fargo & Co:Announced an exclusive recruiting arrangement to provide relationship managers and their clients in Credit Suisse's U.S. Domestic Private Banking business an opportunity to transition to Wells Fargo's brokerage business, Wells Fargo Advisors, by early 2016.In addition, the two companies expect to strategically expand their relationship to make additional Credit Suisse Investment Banking and Asset Management offerings.  Full Article

Wells Fargo & Co in $53 mln settlement over mortgage bonds: U.S. regulator - Reuters
Sunday, 18 Oct 2015 08:00pm EDT 

Wells Fargo & Co:Wells Fargo & Co will pay $53 million to resolve claims over toxic mortgage-backed securities sold to now-failed credit unions, a U.S. regulator said on Monday - Reuters.The National Credit Union Administration, a chief regulator for U.S. credit unions, said its settlement with Wachovia, now owned by Wells Fargo, would bring its total recoveries from various banks in litigation over faulty mortgage bonds bought by corporate credit unions to $2.2 billion - Reuters.  Full Article

Wells Fargo & Company to Acquire GE Capital's commercial distribution finance and vendor finance businesses
Tuesday, 13 Oct 2015 09:01am EDT 

Wells Fargo & Company:To acquire GE capital's commercial distribution finance and vendor finance businesses.Other terms of the transaction were not disclosed.Says the transaction is expected to close in the first quarter of 2016.Says acquisition also includes a portion of corporate finance business.Acquisition includes total assets of approximately $32 billion as well as businesses employing approximately 3,000 team members.Loan and lease portfolios are roughly 90 percent U.S.- and Canada-based.Says Wells Fargo securities served as financial advisor and mayer brown served as legal advisor.Acquisition also includes a portion of corporate finance business.Says ge's capital's vendor finance business will expand co's current capabilities within its equipment finance business.  Full Article

Wells Fargo & Company'sFirst Union Rail to Acquire GE Railcar Services
Wednesday, 30 Sep 2015 06:00pm EDT 

Wells Fargo & Company:Says its railcar finance, leasing and fleet management business, First Union Rail, has signed an agreement to purchase GE Railcar Services from GE Capital.Says the transaction, which will add to the existing fleet more than 77,000 railcars and just over 1,000 locomotives as well as associated operating and long-term leases, is expected to close by end of Q1 2016.Terms of the transaction are not being disclosed.Marmon Holdings, Inc., a Berkshire Hathaway company, separately announced that it has acquired substantially all of GE Railcar Services' owned fleet of railroad tank cars.In a separate transaction, Marmon has also agreed to acquire certain GE Railcar Repair Services repair and maintenance facilities.  Full Article

RPT-Big US brokerages chase the rich in departure from retail roots

NEW YORK, July 29 Big U.S. brokerages are redefining the term "wealthy" in their pursuit of ever-richer clients to prop up margins eroded by historically low interest rates and growing regulatory burdens.