Kevin Wack is American Banker's national editor, and is based in southern California. He was formerly the publication's consumer finance reporter and its Capitol Hill correspondent. Earlier, he worked on financial policy in Washington. He has also reported for the Associated Press and worked as the investigative reporter for the Portland Press Herald in Maine.
-
CEO Charlie Scharf’s long-awaited expense-reduction plan got a chilly reception from investors.
January 15 -
The new global wealth division, which is being formed by combining the firm’s private bank with a unit that serves substantially less wealthy households, will be led by Citi veteran Jim O’Donnell.
January 14 -
Former CEO John Stumpf agreed to pay a $2.5 million penalty to settle civil charges tied to the bank’s fake-accounts scandal. Former community bank head Carrie Tolstedt did not agree to a settlement and is now facing a lawsuit that alleges she committed fraud.
November 13 -
The senior executives, all from the company’s consumer banking unit, agreed to pay six-figure fines in connection with the 2016 unauthorized account scandal.
September 22 -
Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.
August 17 -
Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank.
June 17 -
The changes being sought would benefit both small businesses and banks, which would avoid the cost of servicing many low-yielding loans.
June 2 -
Bankers spent Monday cleaning up damaged branches, wondering if their small-business clients will need more emergency aid and contemplating how the racial and economic inequalities highlighted by days of violent protests nationwide can be corrected.
June 1 -
Unlike recent affairs that were marred by protests, this year's meeting — held online because of the coronavirus outbreak — went smoothly as investors overwhelmingly approved the bank's slate of directors and executive compensation plan.
April 28 -
Its prediction that business conditions will remain weak this year — and into next year — stands in stark contrast to forecasts from political leaders that the economy will rebound quickly from the coronavirus pandemic.
April 14
