Wells Fargo Related Content

Stumpf Forfeits $41MM+ as Wells Fargo Directors Conduct Investigation

Wells Fargo will launch an independent investigation into the company’s retail sales practices. CEO John Stumpf will forfeit more than $41 million of stock, bonus and salary during the investigation. read more

Wells Fargo Pays $185MM in Fines for Allegedly Opening Unauthorized Accounts

The Consumer Financial Protection Bureau fined Wells Fargo $100 million for the illegal practice of secretly opening unauthorized accounts. The CFPB said the bank would also pay additional penalties of $35 million and $50 million to the OCC and the City of Los Angeles, respectively.    read more

Wells Fargo Amends Erickson Air Crane Credit Agreement

Erickson, formerly known as Erickson Air Crane, and Erickson Helicopters, formerly known as Evergreen Helicopters, entered into a credit agreement amendment with a lender group led by Wells Fargo as administrative agent. read more

Wells Seeks $140MM Loan Refinancings From Erickson

The Oregonian reported that Wells Fargo is demanding that helicopter operator, Erickson, refinance its $140 million credit line in full by the end of August. read more

Wells Fargo Names Kowach President of Retail Brokerage Business

David Kowach was named president and head of Wells Fargo Advisors, Wells Fargo’s national retail brokerage, effective immediately. read more

Wells Fargo Increases Presence in Maine with New Office

Wells Fargo opened its newest Middle Market Banking office in Portland, ME. Rob Small and Dave Ott have joined the firm, from TD Bank and BofA Merrill, respectively, and will be based in the new office. read more

Wells Fargo Completes Acquisition of GE Capital’s CDF Business in AU & NZ

Wells Fargo completed the purchase of the Australian and New Zealand segments of GE Capital’s Commercial Distribution Finance business. read more

Wells Fargo Q2/16 Results Reflect Higher Oil & Gas Charges

Wells Fargo reported Q2/15 earnings of $5.6 billion were down from $5.7 billion a year earlier despite higher revenues. The bank noted a Q2 provision charge $1,074 million compared to $300 million a year earlier. read more

WSJ: Big Banks Lose Nearly Half a Trillion Dollars in 2016

The Wall Street Journal reported that 20 of the world’s biggest banks have lost 25% of their aggregate market value — approximately $465 billion — according to data from FactSet. read more

Wells Fargo Completes Acquisition of GE Capital’s CDF Business in Asia

Wells Fargo completed the purchase of the Asia segment of GE Capital’s Commercial Distribution Finance business. The acquisition includes CDF assets and 46 team members. read more

Wells Fargo Promotes Peterson to Lead Food & Ag Division

Wells Fargo named 31-year commercial banking veteran and fourth-generation family farmer Gene Peterson head of its National Food and Agribusiness division. read more

Wells Fargo Launches FastFlex Small Business Loan

Wells Fargo launched FastFlex Small Business Loan, a fast-decision loan that offers a competitive interest rate to small businesses with short-term credit needs. FastFlex was built in-house by Wells Fargo. read more

Wells Fargo Problem Loans Up 62% on Weak Oil & Gas Market

According to Reuters, Wells Fargo reported a 62% increase in problem loans primarily due to weakness of oil and gas companies. read more

Competing in a Slow Growth Environment: Meeting the Sophisticated Needs of Vendor Partners

In a Monitor Q&A, executives from four leading vendor finance companies provide an overview of the current vendor finance landscape. They discuss last year’s intense competition and its effect on standards, how the process of developing new vendor relationships has changed during the past decade and the opportunities and challenges they anticipate in 2016.... read more

Small Businesses Say Presidential Candidates Not Addressing Concerns

According to the latest Wells Fargo/Gallup Small Business Index, a majority of small business owners say the issues most important to them are not being addressed in the presidential campaign. read more

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