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As Wells Fargo CEO Charles Scharf himself admitted, it’s an excuse — and a weak one.
September 25 -
The company has been experimenting with ways to recruit more women and minorities, including a program to hire professionals who had left banking.
September 24 -
Charles Scharf has since apologized that his comments in a virtual meeting this summer were "misinterpreted."
September 23 -
The bank is under growing pressure to lower costs.
August 21 -
The shift comes after the bank reported its first quarterly loss since 2008.
July 15 -
The bank has been in turmoil relative to peers for years. The economic fallout from the coronavirus pandemic only made matters worse.
July 14 -
The firm set aside a record $9.5 billion for credit losses, about $4 billion more than analysts had expected, as it braces for a wave of coronavirus-related defaults.
July 14 -
The move would potentially set a bleak precedent for an industry that’s been resisting mass layoffs as the coronavirus pandemic worsens.
July 9 -
The bank says an announcement on how far the current 51-cent payout would drop is expected in mid-July.
June 30 -
Members of the bank’s operating committee will be evaluated annually on how much they have increased representation and inclusion of diverse employees in the operations they oversee.
June 17