Banking

The recording casts doubt on the CFP Board's claim that all CFPs are fiduciaries.

Unlike other scandals in recent years involving foreign exchange rates and the London Whale, Wells' employees falsifying accounts and charging unfair fees is easy to grasp.

The new CEO said the aggressive sales goals – which were ditched earlier this month – served the interests of neither clients nor branch employees.

A new pilot program will test whether clients will be drawn to a voice-controlled technology the retailer's customers know as Alexa.

CEO Wayne Bloom says the threat of lawsuits in the wake of the new regulation prompted the change, which could be a first among IBDs.

Prosecutors served a warrant seeking names of employees who opened unauthorized accounts, as well as the bank’s fee structure and a calculation of losses suffered by affected customers.

Strong growth in deposits and mobile users, as well as questions concerning Wells Fargo, had BofA executives addressing the notion of scaling back branches.

The bank has already taken action in instances of staff misbehavior, according to Chief Financial Officer Marianne Lake.

Wall Street analysts are divided on how much a changing of the guard will help; lawmakers on Capitol Hill say it's not enough.

The No. 3 U.S. bank by assets has made a change at the top after a snowballing scandal involving the creation of fraudulent accounts.