It’s been over a year since the Wells Fargo banking scandal came to light. Currently, Wells Fargo estimates their employees opened 3.5 million unauthorized accounts. In response, the bank’s leadership continues to [...]
The House and Senate are in Washington, D.C. this week, and CUNA is engaged in several hearings in both chambers.
In addition, CUNA is looking ahead to 2 Senate Banking Committee hearings scheduled for [...]
Wells Fargo & Co. said employees created two-thirds more bogus accounts than initially thought, a sign the bank is still struggling to move past a scandal that sparked record fines and congressional investigations.
An outside [...]
Are Bank of America, Wells Fargo, Chase and other national and large regional banks impenetrable?
We know, in fact, that they are not too big to fail. Within our walls, we boast all the time [...]
CO-OP Financial Services announced that its CO-OP Shared Branch network has now passed Chase Bank in terms of the number of branch offices, giving the credit union cooperative the second-largest such network of financial institution [...]
The news stories following the Wells Fargo incentive scandal continue—negatively impacting the bank and its auditors and examiners—with no end in sight. While the likelihood we will see a credit union embroiled in [...]
In the aftermath of Wells Fargo’s conundrum, other big financial institutions (FIs) may face an uphill battle when it comes to consumer goodwill. Consumers may very well be looking over their shoulders wondering, “What [...]
We can all thank Wells Fargo for an unexpected compliance gift this year. Thanks to some questionable incentive practices on their part, the CFPB has issued a Bulletin describing in great detail, their expectations for [...]
f I was one of those conspiracy theory nuts who dream up wild theories and spend late nights scouring the Internet for evidence vindicating my worst fears, I would believe that Wells Fargo is actually [...]
This summer, Wells Fargo executives admitted that they had fired 5,300 employees who were found, under pressure to meet sales goals, to have opened 1.5 million unauthorized deposit accounts and 500,000 credit [...]
Wells Fargo has shoveled a heaping pile of consumer distrust onto financial institutions. As most (if not all) of you readers already know, the San Francisco-based banking giant has been slapped with a total of $[...]
The most recent setback for Wells Fargo, who is still reeling from the recent account scandal, is the loss of their Better Business Bureau (BBB) accreditation. After paying the federal government a $185 million fine, [...]
New York Gov. Andrew M. Cuomo put state-chartered banks and credit unions on official notice to ensure employee incentive arrangements do not spawn another Wells Fargo fraud fiasco.
Cuomo announced last week the New York [...]
Wells Fargo said on Wednesday that Chairman and CEO John Stumpf will retire effective immediately in the wake of a sales practice scandal at the bank.
The company's board of directors elected President and Chief [...]
A shark’s primary sense is a lusty sense of smell. A shark can detect one drop of blood in a million drops of water and can smell blood as far away as a quarter-mile. [...]