In The News

Charlotte Observer - Austin Weinstei - 2/4/20

The bank still has far to go on its culture, according to Alex Ross, a Wells Fargo bankruptcy specialist who works to unionize the company with the Committee for Better Banks.

CNBC Grow - Ben Jay - 1/30/20

Between ATM fees, overdraft charges, monthly maintenance, and other charges, the typical checking account holder pays $7.69 every month, according to a recent survey from Bankrate.

Compliance Week - Lori Tripoli - 1/24/20

The Office of the Comptroller of the Currency (OCC) banned former Wells Fargo Bank CEO John Stumpf from participating in the banking industry Thursday.

In settling with the OCC, Stumpf also agreed to pay a $17.5 million civil penalty to resolve longstanding problems during his tenure at the bank. Stumpf reached his deal with the OCC without admitting any wrongdoing.

Bloomberg - Anders Melin - 1/23/20

John Stumpf left Wells Fargo & Co. with his image in tatters, lost more than $70 million through forfeitures and a clawback, and now faces a government fine and a lifetime ban from the financial industry.

But that won’t upend his nest egg.

CBS News - 1/23/20

Federal regulators are fining former Wells Fargo CEO John Stumpf $17.5 million and banning him from the banking industry for life for his role in a scandal in which company employees opened millions of fake accounts without customers' consent. 

SF Chronicle - Patrick Creaven - 10/25

On Monday, Charles Scharf, Wells Fargo’s fourth CEO in three years, took the reins of a bank in turmoil. If he were to look around the Bay Area customer service center where I work, however, turmoil is not the first thing he’d notice. Instead he’d find nearly 400 dedicated and highly trained employees who have diligently helped Wells Fargo retain customers through some of its hardest years.

Employees say more than 100 told they have to relocate or be out of a job

More than 100 workers at Pentagon Federal Credit Union in Eugene are being told to relocate across the country or find a new job after the company announced this week it was consolidating departments and moving many workers in Oregon and Virginia to Texas.

NEW YORK/WASHINGTON April 9 (Reuters) - The day after former Wells Fargo & Co Chief Executive Tim Sloan told U.S. lawmakers he was transforming the bank’s high-pressure culture, Federal Reserve officials met privately with bank employees.

At the meeting on March 13, which has not been previously reported, Fed officials were told by four bank employees that little had changed within the bank’s culture since the scandal that engulfed Wells Fargo almost three years ago.