Financials

The banking chief took a beating on Capitol Hill over the handling of the scam which resulted in a $185 million fine.

In his opening statement before the Senate Banking Committee, Wells Fargo (NYSE:WFC) CEO John Stumpf outlined some of the key new internal rules put in place in the wake of the bank’s fake accounts scandal.

In his opening statement before the Senate Banking Committee, Wells Fargo (NYSE:WFC) CEO John Stumpf outlined some of the key new internal rules put in place in the wake of the bank’s fake accounts scandal.

The chief executive officer of Wells Fargo & Co on Tuesday apologized for the bank's opening as many as 2 million bogus customer accounts that could generate fees for the lender.

The chief executive officer of Wells Fargo & Co on Tuesday apologized for the bank's opening as many as 2 million bogus customer accounts that could generate fees for the lender.

John Stumpf's trip to Capitol Hill on Tuesday opens Wells Fargo's sales practices and the executive himself to a fresh round of scrutiny.

John Stumpf's trip to Capitol Hill on Tuesday opens Wells Fargo's sales practices and the executive himself to a fresh round of scrutiny.

Wells Fargo's chief executive, John Stumpf, will tell U.S. senators on Tuesday that he is "deeply sorry" for selling customers unauthorized bank accounts and credit cards and that he would take "full responsibility" for the unethical activity.

Wells Fargo's chief executive, John Stumpf, will tell U.S. senators on Tuesday that he is "deeply sorry" for selling customers unauthorized bank accounts and credit cards and that he would take "full responsibility" for the unethical activity.

The U.S. House Financial Services Committee has opened a probe into Wells Fargo's sales practices and plans to call the company's chief executive before lawmakers at a hearing later in September, the committee chairman said on Friday.

The U.S. House Financial Services Committee has opened a probe into Wells Fargo's sales practices and plans to call the company's chief executive before lawmakers at a hearing later in September, the committee chairman said on Friday.

The U.S. Department of Justice is asking Deutsche Bank to pay $14 billion to settle an investigation into its selling of mortgage-backed securities.

The U.S. Department of Justice is asking Deutsche Bank to pay $14 billion to settle an investigation into its selling of mortgage-backed securities.

Wal-Mart Stores Inc. said it would stop accepting cards from Visa Inc. in its 16 stores in the Canadian province of Manitoba on Oct. 24, representing an escalation in its fee fight with the card network.

Wal-Mart Stores Inc. said it would stop accepting cards from Visa Inc. in its 16 stores in the Canadian province of Manitoba on Oct. 24, representing an escalation in its fee fight with the card network.

J.P. Morgan Chase & Co. (NYSE:JPM) became the biggest U.S. bank by market value on Tuesday, surpassing Wells Fargo & Co (NYSE:WFC).

J.P. Morgan Chase & Co. (NYSE:JPM) became the biggest U.S. bank by market value on Tuesday, surpassing Wells Fargo & Co (NYSE:WFC).

U.S. Treasury Secretary Jack Lew said on Tuesday federal regulators were correct to punish Wells Fargo & Co for setting up sham accounts without customers' knowledge, but stopped short of calling for a clawback of pay from the head of the unit where the wrongdoing took place.

U.S. Treasury Secretary Jack Lew said on Tuesday federal regulators were correct to punish Wells Fargo & Co for setting up sham accounts without customers' knowledge, but stopped short of calling for a clawback of pay from the head of the unit where the wrongdoing took place.

Wells Fargo & Co. said it will eliminate all product sales goals in its retail banking operations in January as it works to rebuild trust after allegedly allowing its employees to open accounts without customers' knowledge to meet targets.