Wells Fargo

The bank is buckling down on additional credit lines.

Ten of the world's largest banks, including JPMorgan Chase (NYSE:JPM) and Bank of America, have been sued for allegedly conspiring over nearly 14 years to rig prices in the $9.6 trillion U.S. corporate bond market, costing ordinary investors billions of dollars.

By reshuffling applications to frontload businesses seeking higher loans, Chase, along with other big banks, received nearly $6 billion in processing fees.

Major U.S. lenders are preparing to become operators of oil and gas fields across the country for the first time in a generation to avoid losses on loans to energy companies that may go bankrupt, sources aware of the plans told Reuters.

The Federal Reserve on Wednesday said it would temporarily ease its asset cap on Wells Fargo to encourage the bank to lend to small businesses harmed by the outbreak of coronavirus.

The prosecution of Wells Fargo executives who oversaw the bank’s activities is seen by lawmakers and investors as one of the final pieces of the scandal’s fallout for the bank.

President Trump will meet with the CEOs of Wall Street's biggest banks at the White House on Wednesday afternoon.

House Financial Services Chairwoman Maxine Waters referred former Wells Fargo CEO Timothy Sloan to the Department of Justice, claiming that Sloan made false statements to Congress in testimony last year.

The San Francisco-based bank employes about 259,000 people. 

Scharf took over as CEO of the beleaguered bank in October.

Duke was among the bank's leadership expected to testify before the House Financial Services Committee.

The report is part of a year-long probe and comes ahead of hearings next week

Wells Fargo & Co. became the third major U.S. bank to announce it will not support financing for oil and gas projects in the Arctic.

Wells Fargo & Co. agreed to pay $35 million to settle regulatory claims that its financial advisers recommended exchange-traded funds that were too risky for some clients.

The DOJ slapped the bank over its fake account scandal.

Wells Fargo could settle a number of cases with the federal government related to abusing its customers by opening fake accounts in their name and other practices.

The policy had generally applied to employees hired since the end of 2015.

Regulators and Wells Fargo ’s board have said the company’s decentralized structure was among the chief causes of the fake accounts scandal.

Former CEO John Stumpf was also hit with a $17.5 million civil penalty.

The Office of the Comptroller of the Currency (OCC) actions may result in monetary penalties against the executives and bans from working for OCC-regulated banks, the person said.