Latest Wells Fargo & Co News

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. ...

Biden's nominee for bank regulator faces hostile opposition

Nov. 17, 2021 14:13 PM EST

NEW YORK (AP) — A fierce battle is being waged in Washington over President Biden's choice to lead a typically low-profile agency that oversees the banking industry. Saule Omarova, 55, was nominated in September to be the nation’s next comptroller of the currency. If...

Asia shares slip despite signs of optimism on global economy

Oct. 28, 2021 22:47 PM EDT

TOKYO (AP) — Asian shares slipped on Friday, despite recent signs of optimism about the global economy, including recent rallies on Wall Street. Japan's benchmark Nikkei 225 edged down 0.9% in morning trading to 28,559.89, as investors mostly took a wait-and-see...

Bank profits soar, helped by merger frenzy, fewer bad loans

Oct. 14, 2021 13:57 PM EDT

NEW YORK (AP) — It's good to be a bank right now. Four of the largest U.S. banks said their profits grew by double-digits last quarter, as a healthier U.S. economy has helped reduce the number of loans in default or that the bank won't likely recoup. The results for...

JPMorgan's 3Q profits rise, but low rates weigh on revenue

Oct. 13, 2021 13:05 PM EDT

NEW YORK (AP) — JPMorgan Chase posted a 24% jump in third-quarter profits on Wednesday, largely driven by one-time items that boosted its results, as the bank struggled to grow revenues with interest rates at near-zero levels. Despite the slow revenue growth, the bank...

Asian shares mixed after muddled day of trading on Wall St

Oct. 13, 2021 01:09 AM EDT

Shares were mixed in Asia on Wednesday after an up-and-down day on Wall Street ended with most benchmarks lower as traders waited for updates on inflation and corporate earnings. Tokyo's Nikkei 225 index fell 0.3% to 28,158.28 and the S&P/ASX 200 edged 0.1% lower to...

Today in History

Oct. 12, 2021 00:10 AM EDT

Today in History Today is Tuesday, Oct. 12, the 285th day of 2021. There are 80 days left in the year. Today’s Highlight in History: On Oct. 12, 2000, 17 sailors were killed in a suicide bomb attack on the destroyer USS Cole...

Stocks give up an early gain and end lower on Wall Street

Oct. 11, 2021 16:42 PM EDT

Stocks closed broadly lower after a day of choppy trading on Wall Street Monday as investors prepare for a busy week of corporate earnings and inflation updates. The major indexes made early gains, but slowly fizzled as the day progressed. The S&P 500 fell 30.15...

How to benefit from corporate pledges to minority businesses

Sep. 30, 2021 07:01 AM EDT

Since the start of 2020, companies from Bank of America and JPMorgan Chase to Google and Twitter have pledged billions of dollars to support entrepreneurs of color. All those dollars don’t go directly into business owners’ pockets, however. Many are being invested in...