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 ...

The executive joins the CEOs of Goldman Sachs and Capital One in receiving eight-figure equity awards this year. Citi will be ...

U.S. lender Wells Fargo said on Thursday its board of directors planned to appoint the lender's CEO Charlie Scharf as its ...

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

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 ...

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

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 ...

Federal regulators on Tuesday lifted Wells Fargo 's $1.95 trillion asset cap punishment over its fake sales scandal that had prevented it from growing for the past seven years -- a major turning ...

The Federal Reserve said Tuesday that Wells Fargo is no longer subject to the restraints the Fed placed on the bank in 2018 for having a toxic sales and banking culture.

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 ...