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Wells Fargo to pay $3.7B over consumer loan violations
Wells Fargo was ordered to pay $3.7 billion in fines and refunds to customers by U.S. government regulators, the largest fine to date against the bank.
Wells Fargo will pay Maryland $20M in settlement
Wells Fargo & Co. will pay Maryland $20 million in settlement of claims the mortgage company misled investors – including state and local government entities – regarding the durability of its residential loans in the years preceding the Great Recession. Wells Fargo admitted no wrongdoing in agreeing to the settlement of administrative claims brought by […]
Md. to get $7.9 million in multistate Wells Fargo settlement
Maryland will receive a portion of a $575 million settlement between Wells Fargo and all 50 states and the District of Columbia to settle claims the bank violated state consumer protection laws, state Attorney General Brian E. Frosh’s office announced Friday. The states claim the bank, which has been at the center of several scandals […]
Wells Fargo: Strong economy a bright spot for student loan borrowers
Rising student debt has kept younger generations from making large purchases like homes and forced them to push off significant life events like marriage, but the economy could be showing signs that things are turning around. Still, while the rising economy has made it a little easier to start paying back those loans, they continue […]
Wells Fargo 2Q earnings fall, revenue rises
Wells Fargo & Co. says second-quarter earnings fell to $5.19 billion from $5.86 billion a year ago.
Wells Fargo to pay $1B for mortgage, auto lending abuses
Wells Fargo will pay $1 billion to federal regulators to settle charges tied to its mortgage and auto lending business, the latest chapter in years-long, wide-ranging scandal at the banking giant. However, it appears that none of the $1 billion will go directly to the victims of Wells Fargo's abuses.
Wells Fargo Tower in Baltimore sells for $36M
Hertz Investment Group has purchased the Wells Fargo Tower in downtown Baltimore for $36.75 million.
Md.’s big banks offer employee bonuses amid tax cuts
In the wake of last year’s sweeping tax legislation, multiple large banks operating in Maryland have made commitments to increase salaries or pay out bonuses to employees. Five of Maryland’s largest banks accounting for more than half of the market share in the state have announced plans to increase worker pay as they anticipate a […]
For Wells Fargo, a new leader at the helm in Md.
The Daily Record spoke with Patty Tuttle, Wells Fargo's Maryland region president, about the company’s response to its fake account scandal, handling employee concerns, the challenges of fintech and the future of banking.
Wells Fargo names new Maryland president
Wells Fargo has named Patty Tuttle the new regional bank president for Maryland. Tuttle’s appointment is effective immediately. She previously served as a senior vice president and retail credit manager for the bank. Tuttle replaces current regional president Andy Bertamini, who will retire at the end of the month. Tuttle’s immediate start date will help ease […]
Wells Fargo says 3.5 million accounts involved in scandal
The scope of Wells Fargo’s fake accounts scandal grew significantly on Thursday, with the bank now saying that 3.5 million accounts were potentially opened without customers’ permission between 2009 and 2016. That’s up from 2.1 million accounts that the bank had cited in September 2016, when it acknowledged that employees under pressure to meet aggressive […]
What happens to corporate crime cases with the FBI in flux?
WASHINGTON — There’s the federal criminal investigation into Wells Fargo’s opening of unauthorized client accounts. And the probe of Fox News’s business practices. And the investigation of Baxter International, Pfizer and ICU Medical over their medical pricing and dealings with competitors. For investors and others with an interest in such companies, President Donald Trump̵[...]
