On March 10, just hours after Silicon Valley Bank collapsed, the hedge fund manager Bill Ackman hosted a dinner for about 20 people at his penthouse apartment in Manhattan.The dinner […]
Wells Fargo & Company
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Back to news homeThe E.S.G. Fight Has Come to This: Bankers Suing Lawyers
In effect, according to the bankers’ legal filing, the demands were “creating an ongoing state surveillance system.” The bankers further claimed that the attorney general was violating their right to […]
Big Banks Set Aside Billions as They Brace for a Downturn
America’s biggest banks issued warnings on Friday of economic malaise on the horizon, even as some reported better-than-expected profits.JPMorgan Chase, the nation’s largest bank, raised the risk of a “mild […]
Wells Fargo to Pay $3.7 Billion Over Consumer Banking Violations
Wells Fargo’s yearslong mistreatment of its customers has resulted in another record-breaking fine and a warning that more restrictions on its ability to do business could soon follow.On Tuesday, the […]
When Customers Say Their Money Was Stolen on Zelle, Banks Often Refuse to Pay
Argelys Oriach was on his way home from a shopping trip one evening in March when he was robbed at gunpoint. The thief demanded his iPhone and passcode. Mr. Oriach […]
At Wells Fargo, a Quest to Increase Diversity Leads to Fake Job Interviews
Joe Bruno, a former executive in the wealth management division of Wells Fargo, had long been troubled by the way his unit handled certain job interviews.For many open positions, employees […]
As Offices Ease Covid Safety Measures, Workers Worry
Employers are embracing a workplace atmosphere reminiscent of prepandemic times — elevators jammed, snack tables brimming, face coverings optional — even as a new subvariant of the Omicron coronavirus spurs […]
Fraud Is Flourishing on Zelle. The Banks Say It’s Not Their Problem.
Another Wells Fargo customer, Julia Gibson, lost $2,500 to a similar scam in October. After she reported the fraud to the bank, it gave her a provisional credit for the […]
Why Banks Are Slow to Embrace Cloud Computing
Wells Fargo plans to move to data centers owned by Microsoft and Google over several years; Morgan Stanley is also working with Microsoft. Bank of America has saved $2 billion […]
Goldman Sachs Follows Wall Street Rivals in Asking Staff to Work From Home
Goldman Sachs told its U.S. employees on Sunday to work from home for the first two weeks of the year, joining Wall Street competitors that had already given similar instructions […]