Tag: Wells Fargo
Federal Reserve is likely to preach patience as consumers, markets look...
WASHINGTON (AP) – Across the United States, many people are eagerly anticipating the Federal Reserve's first cut to its benchmark interest rate this year: Prospective...
Bank of America profits fall 50% in fourth quarter of 2023
NEW YORK (AP) – Bank of America Corp. saw its fourth-quarter profit fall more than 50% from a year earlier as the banking industry...
BofA to pay more than $100M for doubling fees, opening accounts...
Bank of America must pay more than $100 million to customers for doubling up on some fees, withholding reward bonuses and opening accounts without...
Wells Fargo agrees to pay $1B to settle shareholders’ class-action lawsuit
WASHINGTON (AP) – Wells Fargo has agreed to a pay $1 billion to settle a lawsuit filed by its shareholders who alleged the bank...
Former Bank of America CEO Richard Rosenberg dead at 92
NEW YORK (AP) – Richard Rosenberg, who doubled the size of Bank of America in the 1990s as chairman and CEO and started the bank on...
Wells Fargo to pay $3.7B over consumer loan violations
WASHINGTON (AP) – Consumer banking giant Wells Fargo agreed to pay $3.7 billion to settle a laundry list of charges that it harmed consumers...
Fraud, scam cases increasing on Zelle, Senate report finds
NEW YORK (AP) – Incidents of fraud and scams are occurring more often on the popular peer-to-peer payment service Zelle, according to a report...
Many banks consolidating jobs as economy shifts
While restaurants and retailers were laying off their workers at the onset of the COVID-19 pandemic, banks embarked on a hiring spree in the...
U.S. employers added 528,000 jobs; unemployment falls to 3.5%
WASHINGTON (AP) – America's hiring boom continued last month as employers added a surprising 528,000 jobs despite raging inflation and rising anxiety about a...
Crack down on bank mergers could help economy
President Joe Biden signed a sweeping executive order in July that aims to increase competition throughout the U.S. economy. In one of the order’s...
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