Wells Fargo

Wells Fargo & Co swung to a profit in the second quarter, the bank said on Wednesday, as it released funds set aside to cover soured loans, while costs tied to its years-old sales practices scandal stabilized.

Sen. Elizabeth Warren, D-Mass., slammed Wells Fargo on Thursday after the embattled bank disclosed that its decision to scrap personal lines of credit could impact customers’ credit scores.

Wells Fargo told customers it is shutting down its personal line of credit product in order to focus on its personal loans and credit card businesses.

Several major American banks announced dividend boosts on Monday, days after the Federal Reserve said all big lenders passed their stress test and lifted the heightened restrictions imposed due to COVID-19.

The Federal Reserve has blessed the nation's largest banks with a clean bill of health paving the way for a flood of dividends and buybacks.

Passing the Fed's stress tests will allow big banks to unleash billions to buy back stock and boost dividends.

JPMorgan Chase & Co will give its U.S. employees one floating day off for the newly implemented Juneteenth federal holiday, according to an internal memo seen by Reuters.

The CEOs of some of the largest banks in the U.S., including Goldman Sachs and JPMorgan Chase, will testify Wednesday on Capitol Hill for Senate's Wall Street oversight hearing.

Warren Buffett's Berkshire Hathaway cut back on financial, energy and drug stocks but beefed up its grocery and wireless holdings while adding an insurer.

Some of the largest U.S. banks plan to start sharing data on customers' deposit accounts as part of a government-backed initiative to extend credit to people who have traditionally lacked opportunities to borrow.

Microsoft and delivery service DHL led a list of the 10 most-imitated brands in global phishing attempts in the first quarter of 2021.

Delta, JPMorgan and Goldman Sachs lead earnings reports in the week ahead, while investors will get a taste of Coinbase’s IPO, the first crypto company to go public.

Wells Fargo is hoping to return to normal operations starting September 6

The $10 billion hedge fund, run by Bill Hwang, was forced to liquidate positions last week, causing extreme swings in a number of stocks, including Discovery and ViacomCBS, according to reports. 

According to data from Wells Fargo, Amazon's U.S. sales of clothing and shoes, including third-party sellers, grew 15% in 2020 to $41 billion. The increase represents 11-12% share of all apparel sold in the U.S. and 34-35% share of all apparel sold online. 

The biggest U.S. banks are beginning to deliver stimulus checks to eligible Americans Wednesday morning following some criticism over the timing of the third round of direct cash payments. 

The agency closed the inquiries into Wells Fargo and Microsoft in October and December.

Wells Fargo will offer up to eight hours of paid time off beginning March 8 to encourage all eligible global employees to get COVID-19 vaccines 

Wells Fargo announced equity investments in six African American Minority Depository Institutions as part of its $50 million commitment last year to support economic growth in Black communities. 

Wells Fargo & Co. reported fourth-quarter earnings that were mixed, as the company continues to be hampered by the coronavirus pandemic, as well as ongoing issues at the bank.