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News Articles: Wells Fargo

The Consumer Financial Protection Bureau has dropped its lawsuit against the payment network Zelle and three of its owner banks.

Tagged as: 

  • Business

In a lawsuit, CFPB says 3 top U.S. banks failed to protect consumers from Zelle fraud

The consumer financial watchdog says customers of the top three banks lost more than $870 million over seven years due to a lack of safeguards against fraud on the Zelle network.

December 20, 2024
|
By:
  • Laurel Wamsley
Savers can often find better rates on accounts from credit unions and online banks than at many major financial institutions.  Photo by Frederic J. Brown/AFP via Getty Images.

Tagged as: 

  • Your Money

Getting a measly interest rate on your savings? Here's how to score a better deal

Many big banks offer shockingly low interest rates on savings accounts. Moving your money to a smaller institution could bring better returns.

March 04, 2023
|
By:
  • Arezou Rezvani
The Goldman Sachs logo is seen at the New York Stock Exchange in New York City on Sept. 13, 2022. Goldman is laying off up to 3,200 employees as it faces a more challenging business environment.

Tagged as: 

  • Business

Goldman Sachs is laying off as many as 3,200 employees this week

The prestigious investment bank is undertaking one of its biggest rounds of layoffs since the Global Financial Crisis.

January 10, 2023
|
By:
  • David Gura
The Consumer Financial Protection Bureau (CFPB) has ordered Wells Fargo to pay billions in fines and redress to mistreated consumers.

Tagged as: 

  • Business

Wells Fargo to pay $3.7 billion settling charges it wrongfully seized homes and cars

The case marks the largest penalty ever imposed by the federal watchdog agency the Consumer Financial Protection Bureau. Customers who were harmed will receive $2 billion in restitution.

December 20, 2022
|
By:
  • Chris Arnold
Wells Fargo has fired more than 100 employees whom it says personally defrauded a pandemic relief program from the Small Business Administration.

Tagged as: 

  • Business

Wells Fargo Fires More Than 100 Employees Accused Of Coronavirus Relief Fraud

The employees' alleged actions were outside of their work responsibilities and do not involve Wells Fargo's customers, the company said. The bank says it's cooperating with law enforcement.

October 15, 2020
|
By:
  • Laurel Wamsley
"We still face much uncertainty regarding the future path of the economy," JPMorgan Chase CEO Jamie Dimon said Tuesday in a statement accompanying the giant bank's financial results.

Tagged as: 

  • Business

'We Still Face Much Uncertainty': Pandemic Hammers Big Banks

The dramatic collapse of the U.S. economy is pummeling America's largest banks. Wells Fargo has posted its first quarterly loss since 2008 and JPMorgan Chase has set aside billions to cover bad loans.

July 14, 2020
|
By:
  • Jim Zarroli and
  • Avie Schneider

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