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Wells Fargo departs climate banking group in another high-profile exit after Goldman

Wells Fargo has withdrawn from the Net-Zero Banking Alliance, joining other firms exiting climate initiatives under political pressure from Republican officials, signaling a shift in environmental commitments.

investing.com • 20/12/2024 - 16:59 PM

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US consumer watchdog sues top banks over alleged fraud on Zelle payment app

The CFPB has sued JPMorgan, Bank of America, and Wells Fargo, claiming they failed to protect consumers from widespread fraud on Zelle, prompting calls for legal and consumer safety reforms.

investing.com • 20/12/2024 - 14:39 PM

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Zelle operator and major banks face CFPB lawsuit over fraud issues

The CFPB sued Zelle and its bank owners for failing to protect consumers from fraud, alleging negligence led to over $870 million lost and inadequate complaints handling.

investing.com • 20/12/2024 - 14:23 PM

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Wells Fargo and LPL Financial pay $900,000 each for deficient trading data

Wells Fargo and LPL Financial settled SEC charges for inaccurate trading data, each paying $900,000. Both firms are improving their reporting systems and admitted violations.

investing.com • 20/12/2024 - 14:13 PM

WFC

Will federal government spending be slashed in 2025?

Analysts suggest U.S. federal spending in 2024 will remain high due to political and structural challenges, with mandatory spending and defense being key areas of concern.

investing.com • 17/12/2024 - 21:29 PM

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Trump advisers reported plan to ease banking oversight may not get required support

Bank stocks showed little reaction to potential cuts to banking regulators under Trump's team, highlighting complexities in regulatory restructuring and concerns over the FDIC's role in financial stability.

investing.com • 13/12/2024 - 16:09 PM

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Factbox-Big banks expect a quarter-point cut for ECB's first meeting of 2025

Major brokerages predict the ECB will cut rates by 25 basis points in January 2025, with further reductions anticipated throughout the year as inflation slows.

investing.com • 13/12/2024 - 15:46 PM

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Trump advisers exploring steps to shrink or abolish bank regulators - WSJ

The Trump transition team is considering reducing financial regulatory agencies like the FDIC, easing regulations, and restructuring oversight, potentially leading to significant job cuts.

investing.com • 13/12/2024 - 13:12 PM

WFC

Wells Fargo CEO expresses more confidence in regulatory fixes

Wells Fargo's CEO, Charlie Scharf, affirms progress in addressing compliance issues and expresses confidence in the U.S. economy's strength amidst regulatory challenges and reforms.

investing.com • 11/12/2024 - 14:33 PM

WFC

US consumer prices rise by 2.7% annually in November, in line with expectations

US consumer prices rose 2.7% in November, reinforcing expectations of another Federal Reserve interest rate cut amid ongoing inflation challenges.

investing.com • 11/12/2024 - 13:33 PM

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