Latest Wells Fargo & Co News

Asian shares mostly lower after retreat on Wall Street

Jan. 18, 2022 23:07 PM EST

TOKYO (AP) — Asian shares fell in cautious trading on Wednesday after stocks on Wall Street sank to a new low for the year. Tokyo, Shanghai, Seoul and Sydney were lower while Hong Kong edged higher. Technology shares led the decline Tuesday on Wall Street....

Truist cuts down overdraft fees, joining other big banks

Jan. 18, 2022 14:43 PM EST

NEW YORK (AP) — Truist Bank said Tuesday it is reducing its overdraft fees, becoming the latest big bank to announce an overhaul of overdraft policies that often impact the most vulnerable customers. The bank plans to roll out a new checking account this summer that will have a...

JPMorgan, Sherwin-Williams fall; Wells Fargo, ODP rise

Jan. 14, 2022 16:23 PM EST

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Friday: Sherwin-Williams Co., down $8.93 to $308.46. The paint maker reported disappointing fourth-quarter earnings as raw materials shortages and supply chain problems crimped operations. ...

Wells Fargo's $5.8 billion profit easily tops expectations

Jan. 14, 2022 11:23 AM EST

SILVER SPRING, Md. (AP) — Wells Fargo easily beat Wall Street expectations for the fourth quarter with interest rates beginning to take off, likely another boost for the nation's largest mortgage lender going forward. The San Francisco bank earned $5.8 billion, or $1.38 per share,...

Will Elizabeth Holmes' conviction sober up Silicon Valley?

Jan. 04, 2022 17:37 PM EST

SAN JOSE, Calif. (AP) — The fraud conviction of former Theranos CEO Elizabeth Holmes could do more than just send a once-celebrated ex-billionaire to prison. In theory, it could also deliver a sobering message to a Silicon Valley culture that often gets lost in its own hubris and swagger. ...

Former Theranos CEO Holmes convicted of fraud and conspiracy

Jan. 04, 2022 13:01 PM EST

SAN JOSE, Calif. (AP) — In a case that exposed Silicon Valley’s culture of hubris and hype, Elizabeth Holmes was convicted Monday of duping investors into believing her startup Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a...

Markets 2021: Stocks soar, IPOs explode, crypto goes wild

Dec. 23, 2021 14:10 PM EST

Wall Street delivered another strong year for investors in 2021, as a resurgence in consumer demand fueled by the reopening of the global economy pumped up corporate profits. As of Dec. 22, the S&P 500 had risen 25%, its third-straight annual increase. Along the way, the...

Banks slowly reconsider overdraft fees, amid public pressure

Dec. 14, 2021 16:13 PM EST

NEW YORK (AP) — The banking industry appears to have overdone it on overdraft fees. After decades of raking in billions of dollars from mostly poor Americans short of cash in their accounts, the biggest banks — under pressure from lawmakers and regulators — are slowly...

Capital One drops all overdraft fees, latest bank to do so

Dec. 01, 2021 11:19 AM EST

NEW YORK (AP) — Capital One said Wednesday that will get rid of all overdraft fees, the latest bank to do so this year and one of the largest financial institutions to shy away from the long-hated practice. The Virginia-based bank said it will still allow customers to...

Louisiana bars banking giant from bond deal over gun policy

Nov. 18, 2021 16:48 PM EST

BATON ROUGE, La. (AP) — Louisiana officials Thursday blocked banking giant JP Morgan Chase from participating in a bond refinancing deal, in Republicans' escalating effort to keep some large investment firms sidelined from state work because they limit business with firearm manufacturers. ...