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Keyword: wellsfargo

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  • Wells Fargo expected to announce massive layoffs Tuesday, many in NC

    10/27/2020 7:08:32 AM PDT · by Rebelbase · 46 replies
    WGHP/Nextar wire ^ | 10/27/20 | Brien Blakely
    CHARLOTTE, N.C. (FOX 46 CHARLOTTE)- Charlotte could be facing a big blow to the banking industry. Wells Fargo is expected to announce major layoffs across the board on Tuesday. Thousands across the entire company could get the pink slip and bank insiders tell WJZY that many of those cuts will happen in the Queen City. More than 27,000 people in the Charlotte area work for Wells Fargo. It’s the city’s second largest employer. In July, the bank’s chief executive said it may need to cut expenses by more than $10 billion as it restructures away from a retail bank.
  • How ‘college for all’ only deepens inequality

    09/29/2020 5:02:24 PM PDT · by karpov · 22 replies
    New York Post ^ | September 29, 2020 | Nathaniel Fischer
    Wells Fargo’s CEO recently faced outrage for a memo noting “the unfortunate ­reality is that there is a very limited pool of black talent to ­recruit from.” Rather than pseudo-righteous indignation, maybe it’s time to confront uncomfortable facts about both college preparedness and the way our society bases economic opportunity on college success. According to critical race theory, our intellectual class’ obsession du jour, any hiring disparity reflects structural racism, and companies like Wells Fargo simply “aren’t trying hard enough” to find black candidates. In reality, there are wide racial gaps even before college. The average black SAT taker trails...
  • Wells Fargo CEO sorry for 'insensitive comment' on diversity

    09/23/2020 2:40:25 PM PDT · by yesthatjallen · 91 replies
    Reuters ^ | 09 23 2020 | Jessica DiNapoli, Anirban Sen
    Wells Fargo & Co WFC.N Chief Executive Officer Charles Scharf has apologized for making insensitive remarks around race and diversity, seeking to quell a row over his references to a shortage of talent among minority groups. Reuters reported on Tuesday that Scharf had exasperated some Black employees in a Zoom meeting this summer when he reiterated that the bank had trouble reaching diversity goals because there were not enough qualified minority candidates. He also made the assertion in a company-wide memo that announced diversity initiatives as nationwide protests broke out following the death of George Floyd, an unarmed African-American man,...
  • Warren Buffett confuses Wall Street as he buys gold, sells Goldman Sachs

    08/18/2020 8:45:37 AM PDT · by Red Badger · 56 replies
    NY Post ^ | August 17, 2020 | 4:22pm | By Thornton McEnery
    Warren Buffett has given up his long-held conviction against buying gold — and he’s meanwhile getting out of Goldman Sachs. The totemic tycoon revealed in filings late last week that he has scooped up more than 20 million shares of mining giant Barrick Gold Corp. even as he unloaded nearly all of his nearly 2 million shares in Goldman Sachs. The 89-year-old investing icon’s sudden embrace of the precious yellow metal — which has has previously derided as “useless,” saying that “anyone watching from Mars would be scratching their head” at the idea of investing in it — took many...
  • Wells Fargo, worried about defaults, stops making loans to most independent car dealerships

    06/02/2020 4:05:59 PM PDT · by dynachrome · 55 replies
    CNBC ^ | 6-2-2020 | Hugh Son
    Wells Fargo, one of the biggest lenders for new and used car purchases in the U.S., sent letters to hundreds of independent auto dealerships last month telling them that the San Francisco-based company was dropping them as a customer, according to people with knowledge of the situation. A Wells Fargo spokeswoman confirmed that the bank, which only makes auto loans through car dealerships, will no longer accept loan applications from most independent shops. Independent dealerships typically sell used cars, unlike franchise dealerships that focus on new vehicles from specific manufacturers. The bank had “an obligation to review our business practices...
  • Eighth Circuit Upholds Determination that Wells Fargo is Liable for Penalties for Engaging in Abusive Tax Shelter Scheme

    04/27/2020 4:07:49 PM PDT · by ransomnote · 4 replies
    justice.gov ^ | April 27, 2020 | DOJ
    WASHINGTON – The Eighth Circuit Court of Appeals issued a precedential opinion on Friday, April 24, 2020, affirming a district court decision that a transaction designed to generate massive foreign tax credits (referred to as the STARS tax shelter) lacked economic substance and business purpose and was subject to the accuracy-related penalty for negligence, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman and Deputy Assistant Attorney General Joshua Wu of the Justice Department’s Tax Division.In Wells Fargo v. United States, No. 17-3578, the Eighth Circuit Court of Appeals affirmed the decision of the U.S. District Court for the District of...
  • Wells Fargo Fined $3 Billion in ‘Staggering’ Fake Accounts Scandal

    02/22/2020 4:55:34 PM PST · by E. Pluribus Unum · 30 replies
    The Epoch Times ^ | February 21, 2020 Updated: February 21, 2020 | Wire Service
    Wells Fargo was hit with a $3 billion fine Friday by federal authorities outraged by the millions of fake accounts created at the troubled bank over many years. The settlement with the Justice Department and Securities and Exchange Commission (SEC), years in the making, resolves Wells Fargo’s criminal and civil liabilities for the fake-accounts scandal that erupted nearly four years ago. The deal does not, however, remove the threat of prosecution against current and former Wells Fargo employees. Prosecutors slammed Wells Fargo for the “staggering size, scope and duration” of the unlawful conduct uncovered at one of America’s largest and...
  • Wells Fargo to eliminate about 700 jobs in Manila, 650 in the USA

    02/22/2020 7:05:03 AM PST · by Starcitizen · 18 replies
    Yahoo Philippines ^ | February 13, 2020 | Reuters PH
    Feb 13 (Reuters) - Wells Fargo & Co is planning to eliminate about 700 workers in Manila, Philippines, and move a portion of these roles to India that already houses nearly 12,000 tech employees, the U.S. bank's spokesman said on Thursday. The eliminations of the staff was earlier reported by Bloomberg, which also said the lender is telling about 650 of its tech workers in the United States that they will be required to relocate to a bigger market to keep their jobs. The bank laid off more than 200 employees in its U.S. lending divisions in 2019, as it...
  • News Summary-Intelligence Report Friday 2/21/2020 Newsdump Friday

    02/21/2020 10:32:49 PM PST · by Nextrush · 4 replies
    Nextrush Free ^ | 2/21/2020 | Nextrush/Self
    Russian President Vladimir Putin spoke by phone Friday with Turkey's President Recep Tayyip Erdogan about the situation in Syria. The Kremlin issued a news release noting that Putin expressed concern about "ongoing aggressive actions of extremist groups"..... Russia's defense ministry says that large numbers of Turkish armored vehicles and huge caches of ammunition entering northwestern Syria point to apparent preparation for a large scale military operation that Turkey has been threatening...... The Pentagon revising upwards for the fifth time the number of traumatic brain injuries resulting from the January 8th missile attack by Iran on the Al-Asad Air Base..... US...
  • Wells Fargo Agrees to Pay $3 Billion to Resolve Criminal and Civil Investigations into Sales Practices Involving the Opening of Millions of Accounts without Customer Authorization

    02/21/2020 3:11:04 PM PST · by ransomnote · 17 replies
    justice.gov ^ | February 21, 2020 | DOJ
    $3 Billion Payment Result of Deferred Prosecution Agreement in Criminal Matter, Settlement of Civil Claims under FIRREA and Resolution of SEC Proceedings Wells Fargo & Company and its subsidiary, Wells Fargo Bank, N.A., have agreed to pay $3 billion to resolve their potential criminal and civil liability stemming from a practice between 2002 and 2016 of pressuring employees to meet unrealistic sales goals that led thousands of employees to provide millions of accounts or products to customers under false pretenses or without consent, often by creating false records or misusing customers’ identities, the Department of Justice announced today. As part...
  • Bank Reverses Decision, Picks Kids Over LGBT Activists

    02/12/2020 9:27:43 AM PST · by Tolerance Sucks Rocks · 13 replies
    The Daily Signal ^ | February 11, 2020 | Tony Perkins and FRC senior writers
    Seven hundred kids. That’s how many students would have lost their scholarships—and a chance at a better life—if Fifth Third Bank hadn’t come to its senses. Instead, after a week of uncertainty, the company sat down with Florida parents and pastors and decided not to listen to Florida’s cultural bullies. It’s one thing for a company to support LGBT extremism. It’s quite another, the bank agreed, to hurt needy children in the process. Most kids had already left school for the weekend when they got the good news: One of the biggest contributors to the Florida voucher program wasn’t dropping...
  • ‘Bank’rupt Decision Jeopardizes Opportunity for Disadvantaged Children in Florida

    02/05/2020 6:08:58 PM PST · by Tolerance Sucks Rocks · 8 replies
    The Daily Signal ^ | February 4, 2020 | Lindsey Burke
    Last week, Wells Fargo and Fifth Third Bank announced they no longer would donate to the Florida Tax Credit Scholarship Program, which enables more than 108,000 low-income children and children in foster care to receive scholarships to attend a safe and effective school of choice. The move comes after the Orlando Sentinel published a piece suggesting that $105 million in tax credit scholarships had been used by families to pay tuition at faith-based schools that, as The Federalist’s Joy Pullmann put it, “uphold their faiths’ historic sexual ethics.” Businesses that contribute to nonprofit scholarship-granting organizations in the state can receive...
  • Fake E-Mail (Phishing attempt) "From:Wells Fargo Customer Bonus

    10/24/2019 10:47:56 AM PDT · by mabarker1 · 15 replies
    http://www.hotmail.com ^ | October 24, 2019 | Self/E-Mail
    From: Wells Fargo Customer Bonus adminvtnmf0o4H0@foodstraditional.com Subject: Qualify Your $1000 Wells Fargo Reward October 24, 2019 06:32 Congrats! Wells Fargo customers have been selected to participate in a banking satisfaction questionnaire QUALIFY for a $1000 WELLS FARGO GIFT CARD* Click Here to Get Started This ad is sent by a third-party on behalf of the advertiser. All promotional fulfillment is the sole responsibility of the owner of the program. Please refer to the ″program requirements″ listed on the offer′s registration page for further details. UNSUBSCRIBE Powered By: Digitech Web Resources, LLC | 1100 NASA Parkway, Suite 420F, Houston, TX |...
  • Mad Maxine Waters Gets President Trump’s Financial Records From Wells Fargo and TD Bank

    05/23/2019 12:36:11 PM PDT · by Kevin in California · 80 replies
    The Gateway Pundit ^ | 05-23-2019 | Cristina Laila
    Congresswoman Mad Maxine Waters has already obtained President Trump’s financial documents from Wells Fargo and TD Bank. NBC News reported that two out of nine financial institutions have already complied with subpoenas issued by the House Financial Services and handed over thousands of documents to the Committee.
  • Wells Fargo, TD Bank turn over Trump financial records to House Dems

    05/23/2019 11:52:24 AM PDT · by Innovative · 97 replies
    Fox News ^ | May 23, 2019 | Brooke Singman, John Roberts
    Wells Fargo and TD Bank have turned over President Trump’s financial records to the House Financial Services Committee, Fox News confirmed on Thursday, amid a contentious legal battle between the Trump administration and congressional Democrats seeking access to sensitive files. The committee, led by Chairwoman Maxine Waters, D-Calif., is one of several panels that have issued subpoenas and requests for Trump’s financial files.
  • Wells Fargo, TD Bank have already given Trump-related financial documents to Congress

    05/23/2019 5:53:07 AM PDT · by Alas Babylon! · 48 replies
    MSNBC Via MSN ^ | 3 May 2019 | Leigh Ann Caldwell and Alex Moe and Mike Memoli
    WASHINGTON — A key congressional committee has already gained access to President Donald Trump's dealings with two major financial institutions, two sources familiar with the House probe tell NBC News, as a court ruling Wednesday promised to open the door for even more records to be handed over. Wells Fargo and TD Bank are the two of nine institutions that have so far complied with subpoenas issued by the House Financial Services Committee demanding information about their dealings with the Trump Organization, according to the sources. The disclosures by these two banks haven't been previously reported. Both TD Bank and...
  • Wells Fargo Is `Too Big to Manage,' U.S. Lawmaker Maxine Waters Tells CEO

    03/15/2019 3:48:19 AM PDT · by Libloather · 47 replies
    The Street ^ | 3/12/19 | Bradley Keoun
    The scandal-plagued U.S. bank Wells Fargo & Co. (WFC) is "too big to manage," a top U.S. lawmaker told CEO Tim Sloan at a hearing Tuesday in Washington. Maxine Waters, a Democratic congresswoman who heads the U.S. House of Representatives' Financial Services Committee, said at the hearing that Wells Fargo is blighted by "ongoing lawlessness and failure to right the ship." Waters represents a district in southern California, where some of the San Francisco-based bank's alleged customer abuses first emerged. It was the first time Sloan has appeared before the House panel since Democrats took control of the chamber following...
  • Rep. Ocasio-Cortez's wild, wacky, and wonderful questioning of Wells Fargo chairman

    03/14/2019 5:36:36 PM PDT · by simpson96 · 27 replies
    American Thinker ^ | 3/14/2019 | Monica Showalter
    Rep. Alexandra Ocasio-Cortez should get her own reality TV show. It would be a comedy, of course, with cameras following her around to record a typical day in the life of the face of the Democratic party. Those cameras would record some of the most illogical, incoherent, idiotic, and just plain weird statements from a woman whose worldview has been shaped by socialism. That she's an ignoramus with a primary school understanding of most issues is a bonus. Yesterday, Ocasio-Cortez "grilled" the chairman of Wells Fargo, Timothy Sloan, asking him a series of bizarre questions about "caging migrant children" and...
  • WATCH: Ocasio-Cortez Tries To Grill Wells Fargo's CEO. He Destroys Her

    03/13/2019 5:22:03 AM PDT · by COBOL2Java · 93 replies
    DailyWire ^ | March 12, 2019 | Ryan Saavedra @realsaavedra
    Socialist Rep. Alexandria Ocasio-Cortez (D-NY) tried to grill Wells Fargo CEO Timothy Sloan during a House Financial Services Committee Hearing on Tuesday and ended up getting embarrassed. The hearing, held by Democrat Chairwoman Maxine Waters, was titled, "Holding Megabanks Accountable: An Examination of Wells Fargo’s Pattern of Consumer Abuses." The Los Angeles Times reported: "Sloan was the first megabank chief executive whom Waters, an outspoken critic of Wells Fargo, summoned to appear before the House Financial Services Committee since she took over as its chairwoman in January following the midterm elections that gave Democrats control of the House." Ocasio-Cortez...
  • Ocasio-Cortez accuses stunned Wells Fargo CEO of financing the 'caging' of children

    03/13/2019 12:17:26 AM PDT · by knighthawk · 51 replies
    Fox News ^ | March 13 2019 | Gregg Re
    Wells Fargo CEO Tim Sloan fired back at New York Rep. Alexandria Ocasio-Cortez at a contentious hearing in Washington, D.C., on Tuesday, after the freshman legislator accused the bank of "financing the caging of children" and suggested it should bear financial liability for everything from oil spills to climate change. Ocasio-Cortez's inquiries come as activists increasingly seek to "deplatform" political opponents by cutting off their funding from banks and other financial services providers -- a concerted effort that conservatives and libertarians have said threatens free speech. House Financial Services Committee Chairman Maxine Waters, D-Calif., brought Sloan before the panel Tuesday...