By Imani Moise and Jessica DiNapoli (Reuters) – Wells Fargo & Co board members are considering keeping interim Chief Executive Allen Parker in the job permanently even after saying they would seek an outsider to fill the role, according to two sources familiar with the board’s thinking. Parker was thrust into the position in March when former CEO Tim Sloan resigned abruptly, saying pressure from politicians and regulators had become a distraction in running the scandal-plagued bank. Critics like U.S. Senator Elizabeth Warren, a Democratic presidential candidate, had argued Sloan’s 30-year tenure made him incapable of changing an internal culture that fuelled a string of customer abuses. Sloan was the second Wells Fargo CEO to depart following revelations in 2016 that employees had opened potentially millions of fake customers accounts. The fourth-largest U.S. bank has paid billions of dollars in fines and is still being investigated by various federal agencies. … [Read more...] about Exclusive: Wells Fargo board weighs keeping interim CEO in place
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By Katherine Lam Published June 05, 2019 Wells Fargo FOXBusiness Facebook Twitter Comments Print video Why you should buy Wells Fargo stock Point View Wealth Management President David Dietz on why investors should shift their focus to the financial sector. Wells Fargo announced Wednesday it was pledging $1 billion through 2025 toward affordable housing initiatives as part of the embattled lender’s goal to dedicate 2 percent of its after-tax profits to philanthropy. Continue Reading Below The company said the money will be geared toward building more affordable housing and to address homelessness in the next six years. The donation is also part of Wells Fargo’s broader plan to address three critical issues, including financial health and small business growth. “Wells Fargo is focused on creating a path to stability and financial success for individuals and families that lack access to affordable … [Read more...] about Wells Fargo pledges $1B for affordable housing
SECTIONS Search E-edition Customer Service Advertise Newsletters News News Local Crime Databases Education Election Politics Nation/World Special Reports North Carolina South Carolina Corrections Columnists Retro Charlotte Your Schools All Blogs & Columns Sports Sports Carolina Panthers Charlotte Hornets That's Racin' High Schools College Sports Charlotte Knights/MLB Other Sports Blogs & Columnists Inside the Panthers Inside the NBA Prep Insiders Scott Fowler Tom Sorensen All Blogs & Columns Politics Politics Elections The North Carolina Influencer Series RNC 2020 Business Business Banking Stocks Center Top Workplaces National Business What's in Store Development All Blogs & Columns Living Living Religion Food & Drink Health & Family Home & … [Read more...] about Wells Fargo is selling a business based in Charlotte. Here’s what we know.
By Craig Karmin WSJ Justin Baer WSJ Fri., March 29, 2019 Eastdil Secured, the real-estate brokerage business owned by Wells Fargo & Co., is in advanced talks to sell the property firm to a venture led by Guggenheim Investments and a Singaporean sovereign-wealth fund, according to people familiar with the matter. The management team at Eastdil, led by Chief Executive Roy March, would also take an ownership stake along with Guggenheim and Singapore’s Temasek Holdings, these people said. It isn’t clear how much the buyers are paying for Eastdil, and there is still a chance an agreement won’t be reached. A deal with the Singapore fund and Guggenheim could provide a big lift for Eastdil, a niche firm that focuses on selling large buildings, mostly in major urban markets. The Singapore fund is expected to help open up new opportunities for Eastdil in Asia, where it has a limited presence. Eastdil would also face fewer regulatory restrictions … [Read more...] about Wells Fargo in Talks to Sell Real Estate Broker Eastdil
Wells Fargo customers who tried to visit the bank’s website Thursday morning found an ominous message instead of the usual online banking login screen. “We’re experiencing a system issue that is causing intermittent outages, and we’re working to restore services as soon as possible,” the bank’s site said. “We apologize for the inconvenience.” On Twitter, the bank reported a “systems issue” causing “intermittent outages” and problems with online and mobile banking, while many customers expressed fury that they were unable to even use their debit cards to access funds. As Business Insider points out, it’s been less than a week since Wells Fargo’s last technical difficulties. Last Friday, the bank was also apologizing on social media for trouble with its online banking systems. Wells Fargo didn’t immediately respond to an inquiry from Fast Company. … [Read more...] about Wells Fargo banking outage enrages customers, ruins mornings