Wells Fargo debuts new logo, campaign after scandals

By FinancialsFOXBusiness

Wells Fargo says hundreds of homes foreclosed on after computer glitch

FBN's Gerri Willis on a Wells Fargo computer glitch that led to hundreds of foreclosures.

Wells Fargo unveiled an updated logo and new marketing campaign as the embattled bank looks to reconnect with customers after a series of debilitating scandals.

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The bank said the campaign, entitled “This is Wells Fargo,” would start on Friday across print, broadcast and digital formats and run through its fiscal fourth quarter. The new logo will be rolled out in late January and features “digitally friendly colors and tone.”

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“Our company’s transformation continues,” Tim Sloan, Wells Fargo’s CEO and president, said in a press release. “Our goal of delivering exceptional service to customers and helping them succeed financially remains central to everything we do. As customer expectations continue to evolve, this campaign highlights that Wells Fargo is transforming to provide easier, more personal and helpful solutions.”

Wells Fargo said it would gradually roll out the new logo, starting with digital properties before gradually introducing the new branding at physical locations. The bank also updated its trademark “stagecoach” imagery.

The marketing campaign “prominently features Wells Fargo team members helping customers with their everyday financial needs,” the bank said.

Wells Fargo has faced unprecedented scrutiny since the Consumer Financial Protection Bureau uncovered evidence that bank employees had opened millions of credit card and deposit accounts for customers without their consent. That scandal, along with several other infractions, prompted the Federal Reserve to place a growth cap on Wells Fargo until the bank has sufficiently overhauled its corporate governance practices.

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The Fed reportedly rejected Wells Fargo’s initial plans for reform in December. Plans must be approved before the growth cap can be removed.

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