Tag Archives: wells fargo

Wells Fargo to pay $1B for mortgage, auto lending abuses

Wells Fargo & Co.'s headquarters in San Francisco, California, is pictured on Tuesday, December 23, 2003. Wells Fargo, the fourth-largest U.S. bank by assets, alowed two unrelated Ponzi schemes to transfer more than $255 million through several accounts in money-laundering schemes from 1995 to 2002, according to allegations in a civil suit in one case and a federal prosecution in the other. Photographer: Noah Berger/Bloomberg News

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.

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Md.’s big banks offer employee bonuses amid tax cuts

(AP Photo/Matt Rourke, File)

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 ...

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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 ...

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Wells Fargo says 3.5 million accounts involved in scandal

A sign outside a Wells Fargo bank in northeast Jackson, Mississippi. (AP File Photo/Rogelio V. Solis)

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 ...

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