Tag Archives: Wells Fargo

The big banks set aside more than $32 billion for loan losses in Q2, signaling that relief programs may not be enough to stave off a flood of bad debt.

From team expansions and tech innovation to catching the financial pulse of mortgage companies, learn the latest industry news in this update.

Charlie Scharf, CEO of Wells Fargo, said he was “extremely disappointed” in the quarter. Click through for more information.

The bank has donated funds to more than 500 nonprofits aimed at providing services to the most vulnerable populations.

Chintan Mehta was named CIO and Head of Digital Technology & Innovation, and Munish Kumar was named CIO and Head of Wealth & Investment Management Technology.

Lester previously led significant operations functions for BNY Mellon, Deutsche Bank, JP Morgan Chase, Citibank, and Bankers Trust.

Maxine Waters said she is “very concerned that the banks’ pattern of harming its consumers appears to persist” during a hearing on Tuesday. Click through to read more.

Mike Weinbach worked for JPMorgan Chase for the past 16 years. He is expected to begin his role in May.

Eight former executives were fined for their role in its cross-selling scandal. The bank’s new CEO says it has made “fundamental changes” to how it operates.

Wells Fargo will name six recipients of grants totalling $2 million each later this summer. Follow the link to read more.