BERLIN (Reuters) – The German parliament’s financial committee will hold an extraordinary meeting on the Wirecard (WDIG.DE) scandal on Wednesday next week and Finance Minister Olaf Scholz is expected to be there, a Social Democrat (SPD) lawamker said on Monday... More »
LONDON (Reuters) – PwC, Deloitte, KPMG and EY should ring fence auditing in Britain as a separate business by June 2024, their regulator said on Monday in one of the most sweeping changes to the sector globally to improve audit quality. Corporate failures at b... More »
VIENNA (Reuters) – An Austrian lawyer has filed a criminal complaint against Wirecard’s (WDIG.DE) former Chief Executive Markus Braun and Chief Operating Officer Jan Marsalek at a court in Vienna, accusing them of market manipulation and serious fraud. The Vie... More »
FRANKFURT (Reuters) – German regulators twice looked into tightening the supervision of collapsed payments firm Wirecard and discussed it with the German and European central banks but no action was taken, a person with direct knowledge of the talks told Reute... More »
MANILA (Reuters) – Bank of the Philippine Islands Chief Executive Cezar Consing said it was clear that a certificate purporting to be for a Wirecard deposit was “spurious” and reiterated that no cash from the German payments firm had entered the bank. Wirecard... More »
BERLIN (Reuters) – Regulators worked hard and did their job in the case of payments firm Wirecard, which on Monday said that 1.9 billion euros ($2.13 billion) missing from its accounts was likely never there, Finance Minister Olaf Scholz said on Monday. “I thi... More »
(Reuters) – Wells Fargo & Co will pay $1 billion to settle with U.S. regulators who say the bank wrongly layered insurance on hundreds of thousands of drivers and routinely hit homebuyers with excessive fees, officials said on Friday. The penalty was a record ... More »
LONDON (Reuters) – Britain’s top six accounting firms will come under increased scrutiny from the audit watchdog, including checks on their top hires, after corporate scandals raised questions about the quality of book-keeping. The Financial Reporting Council,... More »
FILE PHOTO – New York State Comptroller Thomas DiNapoli speaks during an interview with Reuters in New York, October 18, 2010. REUTERS/Brendan McDermid (Reuters) – New York state Comptroller Thomas DiNapoli is asking Wells Fargo & Co (WFC.N) to disclose more i... More »
Wells Fargo & Co is facing litigation over previously disclosed sales problems related to its auto lending and mortgage businesses, the bank disclosed in a regulatory filing on Friday. More »
A leading U.S. regulator wants to make it easier for Wells Fargo to pay employees when they leave, loosening a restriction in place since a phony accounts scandal hit the bank last year, according to people familiar with the matter. More »
In its first offering of online bank accounts, JPMorgan Chase & Co on Monday launched a new smartphone app that it hopes will attract new depositors, many of whom are young and may live far from any of its branch offices. More »
Wells Fargo & Co. (WFC.N) has hired law firm Sidley Austin to take the lead in preparing Chief Executive Tim Sloan for his appearance before the U.S. Congress next month to answer questions about a year-long sales practices scandal, according to four sources w... More »
Wells Fargo (WFC.N) Chief Executive Tim Sloan is due to testify before Congress on Oct. 3 as the bank deals with fallout from a sales scandal a year ago that continues to spark new revelations. More »
Vanguard Group, one of the world's biggest fund managers, voted against three directors at Wells Fargo & Co this year, including Chairman Stephen Sanger, according to U.S. filings, a rare rebuke from the bank's second-largest shareholder. More »
A group of U.S. senators from both parties on Wednesday turned up the heat on Wells Fargo Inc. over its latest scandal, in which hundreds of thousands of car-loan borrowers were charged each month without their knowledge for collision insurance, which many of ... More »
Wells Fargo & Co (WFC.N) is examining whether it caused unnecessary financial harm to customers through mortgage fees, frozen deposit accounts and "add-on" products like identity theft protection, the bank said in a U.S. securities filing on Friday. More »
Republican Senator Jerry Moran said on Thursday he is seeking additional information on recent revelations that Wells Fargo & Co (WFC.N) enrolled unknowing borrowers in costly auto insurance, putting more pressure on the bank whose reputation is already marred... More »
Warren Buffett, chairman and CEO of Berkshire Hathaway, speaks at the Fortune’s Most Powerful Women’s Summit in Washington October 13, 2015. REUTERS/Kevin Lamarque/File Photo Wells Fargo & Co’s (WFC.N) largest investor, Warren Buffett, has likely already voted... More »
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Proxy adviser Glass Lewis on Tuesday recommended that Wells Fargo & Co shareholders vote against six directors at an upcoming annual meeting, in protest of improper sal... More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake Wells Fargo & Co (WFC.N) has taken further steps to restructure its retail banking business, demoting some senior executives within the bank, the Wall Street... More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake Wells Fargo & Co has fired four mid-level executives and stripped them of bonuses and stock awards as a result of an investigation into improper sales practi... More »
A Wells Fargo bank logo is pictured on a building in North Miami, Florida March 19, 2016. REUTERS/Carlo Allegri When a scandal over unauthorized accounts rocked Wells Fargo & Co’s (WFC.N) retail division last fall, executives at its asset management arm sprang... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo – RTX2TOT5 The U.S. Department of Justice has subpoenaed a high-profile whistleblower in its criminal investigation into Wells Far... More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake Wells Fargo & Co (WFC.N) reported another decline in monthly consumer account openings, indicating that the bank is having trouble rebuilding its reputation ... More »
A customer enters the Wells Fargo bank branch in Golden, Colorado October 11, 2013. REUTERS/Rick Wilking Legislation introduced by two Democratic lawmakers on Thursday would allow Wells Fargo & Co customers to go to court, instead of private arbitration, to re... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo A leading U.S. bank regulator on Friday reversed course and positioned the agency to claw back pay of former executives at Wells F... More »
A Wells Fargo bank is seen in Del Mar, California January 17, 2012. REUTERS/Mike Blake Wells Fargo & Co (WFC.N) has fired hundreds of employees with Wall Street licenses for improper sales practices, three U.S. senators said on Thursday. More »
Wells Fargo bank teller machines are seen in San Francisco, California, U.S. October 10, 2013. REUTERS/Robert Galbraith /File Photo Federico Pena, a member of Wells Fargo’s board of directors and chairman of its corporate responsibility committee, has resigned... More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake – RTSPJOV The state of Ohio on Friday joined a growing list of municipalities to suspend business relationships with Wells Fargo & Co over a scandal involvin... More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake Wells Fargo & Co’s (WFC.N) Board of Directors will publicize the results of an internal investigation over unauthorized accounts, according to an outside spo... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo – RTSNP7O Wells Fargo & Co (WFC.N) CFO John Shrewsberry said on Friday he has not considered giving back bonuses he has earned fol... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo Wells Fargo & Co’s decision not to introduce new names onto its board or into the ranks of its senior management in the wake of a ... More »
Warren Buffett, Chairman, CEO and largest shareholder of Berkshire Hathaway takes part in interviews before a fundraising luncheon for the nonprofit Glide Foundation in New York September 8, 2015. REUTERS/Lucas Jackson/File Photo Warren Buffett, chairman of Be... More »
Wells Fargo CEO John Stumpf testifies before the House Financial Services Committee on Capitol Hill in Washington, DC, U.S. September 29, 2016. REUTERS/Gary Cameron U.S. lawmakers called on Thursday for Wells Fargo & Co chief John Stumpf to resign and a top Ho... More »
Oregon State Treasury said on Thursday that it will press Wells Fargo & Co to make reforms in its management structure and executive compensation in light of a sales scandal that has become a major issue in Washington and on Wall Street. More »
Wells Fargo CEO John Stumpf testifies before a Senate Banking Committee hearing on the firm’s sales practices on Capitol Hill in Washington, U.S., September 20, 2016. REUTERS/Gary Cameron Wells Fargo & Co Chief Executive John Stumpf, under fire over problemati... More »
The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016. REUTERS/Rick Wilking The House of Representatives Financial Services committee plans to hold a hearing into Wells Fargo & Co next week after a scandal at the bank involving as many ... More »
Wells Fargo CEO John Stumpf testifies before a Senate Banking Committee hearing on the firm’s sales practices on Capitol Hill in Washington, U.S., September 20, 2016. REUTERS/Gary Cameron Wells Fargo & Co’s (WFC.N) board hired law firm Shearman & Sterling LLP ... More »
The logo on a Wells Fargo bank building is seen in downtown San Diego, California March 18, 2014. REUTERS/Mike Blake A phantom account scandal at Wells Fargo & Co has put the U.S. bank’s disclosure policies under a harsh spotlight. More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo The U.S. House Financial Services Committee has opened a probe into Wells Fargo’s sales practices and plans to call the company’s ... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo Wells Fargo & Co, embroiled in a scandal over the opening of sham accounts, was sued on Friday by customers who accused the bank o... More »
