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In the fourth quarter of 2024, Wells Fargo reported a net income of $5.1 billion and strong underlying business performance. The company saw growth in fee income, net interest income, and customer ...
December 24, 2024 at 9:30 AM. ... including major actions against Wells Fargo and Equifax during President Trump’s first term in office, which, combined, returned $425 million to consumers ...
Similarly, Wells Fargo was fined $3.7 billion by the CFPB in December 2022, in part for imposing “surprise overdraft fees.” The agency maintained the bank charged the fees to some customers ...
After President Trump was inaugurated, he and Office of Management and Budget Director Mick Mulvaney worked to undermine Cordray and the CFPB. [21] Mick Mulvaney: November 25, 2017 December 11, 2018 Deputy Director of the Consumer Financial Protection Bureau David Silberman: January 11, 2016 November 24, 2017 Leandra English: November 24, 2017 ...
The CFPB fined Wells Fargo $100 million on September 8, 2016, for the "widespread illegal practice of secretly opening unauthorized accounts." The order also required Wells Fargo to pay an estimated $2.5 million in refunds to customers and hire an independent consultant to review its procedures. [33]
Wells shares surged nearly 43% in 2024, handily outperforming the S&P 500 index and a benchmark for large-cap banks. However, putting the regulatory woes behind would provide another major lift.
Carrie L. Tolstedt is an ousted American banking executive and former head of the community banking division at Wells Fargo, [1] from which she retired in 2016 before the company's account fraud scandal came to light. In 2017, Wells Fargo retroactively fired Tolstedt for cause. In 2023, she would plead guilty to obstructing a bank examination.
Wells Fargo (NYSE: WFC) Q3 2024 Earnings Call Oct 11, 2024, 10:00 a.m. ET. ... renovated buildings in good locations are doing fine. It's older office buildings pretty consistent across the U.S ...