Offstream
news

The U.S. Consumer Financial Protection Bureau files a lawsuit against banks JPMorgan Chase, Bank of America, and Wells Fargo for failing to protect consumers against alleged widespread fraud on the built-in payment system Zelle equating over $870 million.
2024-12-20

American multinational financial services company Wells Fargo is fined $250 million for "unsafe or unsound practices" related to its home-lending practices by the United States Office of the Comptroller of the Currency.
2021-09-9

Wells Fargo, the fourth-largest bank in the United States, misses its third quarter profit estimates due to interest rate declines and the shrinkage of its mortgage lending business.
2019-10-15

The U.S. Financial Industry Regulatory Authority fines several companies, including Wells Fargo, RBC Capital Markets, and LPL Financial, a combined $14.4 million for record-keeping problems that could have allowed company and customer documents to be altered.
2016-12-21

John Stumpf resigns as CEO and chairman of Wells Fargo amid a scandal over its sales practices.
2016-10-12

The scandal over improper practices of unauthorized accounts at Wells Fargo extends to thousands of small-business owners.
2016-10-4

Standard & Poor's reaches settlements totaling $1.5 billion with the U.S. Justice Department and several U.S. states for inflating ratings on subprime mortgage bonds in the lead-up to the 2008 financial crisis.
2015-02-3

A watchdog group releases a report that details write-downs of $19 billion on more than 168,000 properties by five United States banks. Under terms of a federal and state settlement of foreclosure-processing violations reached one year ago in March, Bank of America lost the most and had $13.5 billion in homeowner debts written off. The other banks are Citigroup Inc, JPMorgan Chase & Co, Wells Fargo & Co, and Ally Financial Inc. [http:--www.foxbusiness.com-news-2013-02-21-us-banks-write-down-1-billion-under-settlement-?intcmp=obnetwork (FoxBusiness)]date=July 2019
2013-02-21

For $8.5 billion, ten banks settle to stop mortgage foreclosure process audits. The United States government regulators had been engaged in a loan-by-loan review of home loan practices during the Great Recession. Bank of America, Citigroup Inc, JPMorgan Chase & Co, Wells Fargo & Co, MetLife Bank, Aurora Bank FSB, PNC Financial Services Group Inc, Sovereign Bank NA, SunTrust Banks Inc, and U.S. Bancorp settle with regulators to pay out cash up to $125,000 to homeowners whose homes were being foreclosed when the paperwork problems emerged. Further, Bank of America agrees to pay $11.6 billion to government mortgage finance company Fannie Mae.
2013-01-7

Wells Fargo plans to move jobs to India and the Philippines.
2012-06-22