However, those who aren't current bank customers need to have $1 million in a qualifying account.

Fercho will join Wells Fargo in August and report to Mike Weinbach, the bank's CEO of consumer lending.

Lenders are cautioning not only that second-quarter provisions might exceed the spike seen earlier this year, but also that credit costs could be elevated into 2021 if the economic slowdown drags on or fears of a second coronavirus wave are borne out.

Even after the Fed eased some limitations in April to promote emergency lending, the bank has had to make some “tough choices” to heed the $1.95 trillion growth ceiling set by regulators in the aftermath of its phony-accounts scandal.

Banking regulators restored the scandal-plagued bank's score three years after assigning it the lowest possible rating under the Community Reinvestment Act.

Wells Fargo will temporarily stop accepting applications for home equity lines of credit, following a similar move by rival JPMorgan Chase.

While much is unknown about how badly the coronavirus pandemic has damaged Southern Nevada's economy, one economist doesn't foresee a major housing market crisis here.

Declines in mortgage servicing rights valuations at JPMorgan Chase and Wells Fargo point to the resurgence of a dilemma that came up during the last downturn.

The worsening economy brought on by the coronavirus pandemic has big banks rethinking who they will lend to.

JPMorgan Chase, Wells Fargo, Citigroup and U.S. Bancorp, along with 200 state-chartered banks and credit unions, have agreed to let borrowers skip payments for 90 days if their finances have been upended by the pandemic.

Kathy Kraninger was grilled about whether her agency and others were doing enough to cushion consumers from the economic blow of the coronavirus crisis.

The release of Richard Cordray's retrospective of his tenure will come one day before the Supreme Court hears a pivotal case about the leadership structure of the agency.

The 10-digit penalty marks an important milestone for the bank, but individual ex-bankers may still be at risk and grueling hearings lie ahead for current leadership.

A deferred-prosecution agreement with the Justice Department spares the bank a potential criminal conviction — provided it cooperates with continuing probes and abides by other conditions.

Wells Fargo & Co. is poised to pay roughly $3 billion to settle federal investigations into a range of consumer abuses that were rampant at the bank for years, according to a person with direct knowledge of the matter.

Mike Weinbach will lead consumer lending as part of a reorganization that will change the responsibilities of three longtime bank executives.

The city's decision to drop a lawsuit alleging predatory ending by Wells Fargo, JPMorgan Chase, Bank of America and Citigroup highlights the challenges municipalities face in taking on deep-pocketed financial institutions.

Fourth quarter gain on sale margin moved in opposite directions at two of the nation's largest banks, falling 9% quarter-over-quarter at JPMorgan Chase, but increasing 25% at Wells Fargo.

Wells Fargo, which contested the prior sale of a Manhattan, Kan., home for only $1 in a foreclosure auction, was the winning bidder at a new sheriff sale for the property.

Bridge REIT LLC is sponsoring a $449.6 million bridge-loan securitization backed mostly by transitional multifamily properties.