Wells Fargo Insights
Wells Fargo
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The company is rolling out a special-purpose credit program to help address what it describes as "the biggest barriers to achieving homeownership." Such programs are gaining popularity among banks.
August 10 -
The government set forth five principles companies should follow when they use artificial intelligence. Chintan Mehta, CIO of strategy, digital and innovation at Wells Fargo, shares how one of the largest banks does it.
February 17 -
The bank's delay in investigating the case forced the plaintiff to resign from the bank in July 2021, according to the complaint. Wells said that it takes allegations of misconduct "very seriously."
February 8 -
The company will also be reducing its servicing portfolio.
January 10 -
Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.
December 20 -
Kristy Fercho, who's run the bank's home lending division since August 2020, will report directly to CEO Charlie Scharf and sit on the operating committee. Last year, she became the first Black person to chair the Mortgage Bankers Association, and she took the top spot in American Banker's Most Powerful Women to Watch this year.
November 1 -
Wells Fargo CEO Charlie Scharf hired Mike Weinbach in 2020 as part of a broader organizational shake-up. The former JPMorgan Chase executive is leaving in mid-September as the consumer lending group transitions to a new leader.
July 11 -
Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.
April 14