Charlie Scharf was named CEO and president of the bank in 2019 as the company faced challenges from its massive 2016 fake ...

The appointment rewards the executive who led the bank back from a scandal involving the creation of millions of fake ...

Wells Fargo’s nearly $2 trillion asset cap punishment by the Federal Reserve has meant the fourth-largest bank in the U.S. couldn’t grow in the wake of its massive fake sales account scandal.

When the Federal Reserve in June lifted the $1.95 trillion asset cap it imposed on Wells Fargo back in 2018 as punishment for a widespread scandal involving the creation of fake customer accounts, CEO ...

U.S. lender Wells Fargo said on Thursday its board of directors planned to appoint the lender's CEO Charlie Scharf as its chairman and to award him a one-time special equity grant of $30 million in ...

The asset cap was Wells Fargo's biggest penalty stemming from its 2016 fake accounts scandal. From 2002 to 2016, thousands of Wells Fargo's Community Bank employees opened millions of unauthorized ...

The Federal Reserve is loosening a major restriction on the growth of Wells Fargo that was put in place following a fake accounts scandal nearly a decade ago, a major victory for CEO Charlie Scharf.

Wells Fargo stock soared more than 2% in after-hours trading following the announcement. Shares had closed at $75.65, up from $59.34 a year ago. The bogus accounts scandal toppled two Wells Fargo ...

Fed lifts restrictions placed on Wells Fargo in 2018 because of its fake accounts scandal FILE - A sign stands outside a branch of Wells Fargo bank Wednesday, April 17, 2024, in Littleton, Colo ...

Wells Fargo's regulatory sanctions began after the fake accounts scandal was discovered in 2016. Since then, regulators identified additional problems with how the bank handled mortgages, auto ...