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Zacks News
San Francisco-based – Wells Fargo & Company is one of the largest financial services company in the U.S. with $1.95 trillion in assets and more than $1.4 trillion in deposits. The company provides banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage services and consumer and commercial finance through over 7,200 stores, 13,000 ATMs, the internet and other distribution channels across North America and globally. The company provides its services through three broad segments: Community Banking offers a complete line of diversified financial products and services to consumers and small businesses, including checking and savings accounts, credit and debit cards, and auto, student, and small business lending. Wholesale Banking provides financial solutions to businesses across the United States and globally with annual sales generally in excess of $5 million. Wealth and Investment Management provides a full range of personalized wealth management, investment and retirement products and services to clients across U.S. based businesses.
Wells Fargo Faces Sanctions on 'Living Will' Deficiencies
by Zacks Equity Research
Wells Fargo & Company (WFC) has been hit with restrictions by the U.S. regulators as the bank failed to "adequately remedy" deficiencies in its resolution plan, commonly known as 'living will'
Wells Fargo (WFC) Under Scrutiny in California, New Jersey
by Zacks Equity Research
Legal issues continue to mount for Wells Fargo & Company (WFC). The third largest U.S. bank by assets is under the scrutiny of regulators in California and New Jersey.
Stock Market News for December 13, 2016
by Zacks Equity Research
Stock Market News for December 13, 2016
Bank Stock Roundup: Upbeat Trading Outlook and Likely Rate Hike Bring Optimism, Citigroup in Focus
by Zacks Equity Research
Over the last five trading days, major banks showed a bullish trend. Heightened expectations of a rate hike this month have boosted investors' optimism.
Will Wells Fargo's Community Lending Rating be Downgraded?
by Zacks Equity Research
U.S. banks' regulator, Office of the Comptroller of the Currency, might downgrade Wells Fargo & Company (WFC) on a national scorecard for community lending, according to Reuters.
The Zacks Analyst Blog Highlights: Johnson & Johnson, Wells Fargo, Wal-Mart, Kimberly-Clark and NIKE
by Zacks Equity Research
The Zacks Analyst Blog Highlights: Johnson & Johnson, Wells Fargo, Wal-Mart, Kimberly-Clark and NIKE
Credit Suisse Fined for Poor Anti-Money Laundering Control
by Zacks Equity Research
FINRA has imposed a fine of $16.5 million on the securities business unit of the Swiss bank, Credit Suisse Group AG (CS), for inadequate supervision of anti-money laundering compliance policies and systems.
The Zacks Analyst Blog Highlights: Wells Fargo, Citigroup, JPMorgan Chase, Morgan Stanley and Bank of America
by Zacks Equity Research
The Zacks Analyst Blog Highlights: Wells Fargo, Citigroup, JPMorgan Chase, Morgan Stanley and Bank of America
Bank Stock Roundup: Rate Hike Expectations Instill Optimism, Wells Fargo in Focus
by Zacks Equity Research
Major banking stocks continued their rally over the last five trading days. After Donald Trump's victory, nomination of Steve Mnuchin as Treasury secretary seems to be a driving factor for banking stocks, as he recommended turning over certain Dodd-Frank financial rules.
Wells Fargo to Adjust Policy to Keep Fee-Based Accounts
by Zacks Equity Research
Wells Fargo & Company (WFC) announced that it will continue offering individual fee-based retirement accounts to clients. However, the company will make some adjustments to its compliance procedure with the DOL's new fiduciary rule.
BofA Faces $7M Fine from FINRA for Inadequate Supervision
by Zacks Equity Research
The regulator of securities firms in the U.S., FINRA has imposed a fine of $7 million on Merrill Lynch, a unit of Bank of America Corporation (BAC), for inadequate supervision of securities-backed leverage in their clients' brokerage account.
Why the Rally Should Continue for BofA (BAC) Stock
by Zacks Equity Research
If you have been closely following the major bank stocks' performance, you must have noticed the recent surge in BofA's (BAC) shares. Will this rally continue?
FDIC-Insured Banks: Q3 Earnings Strong, Revenues Improve
by Zacks Equity Research
Federal Deposit Insurance Corporation (FDIC)-insured commercial banks and savings institutions reported third-quarter 2016 earnings of $45.6 billion, up 12.9% year over year.
Stock Market News for November 29, 2016
by Zacks Equity Research
Benchmarks closed lower on Monday as investors booked profits on the heels of a record-setting week
The Zacks Analyst Blog Highlights: Wells Fargo, Bank of America, Fifth Third Bancorp, Citigroup and Vantiv
by Zacks Equity Research
The Zacks Analyst Blog Highlights: Wells Fargo, Bank of America, Fifth Third Bancorp, Citigroup and Vantiv
Stock Market News for November 18, 2016
by Zacks Equity Research
After dipping lower marginally on Wednesday, major U.S. benchmarks made rebounded yesterday to finish near record high levels.
Wells Fargo (WFC) Stock has Surged Since Earnings, Can It Last?
by Zacks Equity Research
WFC reported earnings 30 days ago and the stock has been on fire since then, even with the overhang of their recent scandal. We take a look at what is ahead for this stock based on recent earnings estimate trends.
The Zacks Analyst Blog Highlights: Johnson & Johnson, Wells Fargo, Facebook and Qualcomm
by Zacks Equity Research
The Zacks Analyst Blog Highlights: Johnson & Johnson, Wells Fargo, Facebook and Qualcomm
Stock Market News for October 17, 2016
by Zacks Equity Research
Benchmarks finished in the green on Friday following encouraging earnings results from three banking behemoths - JPMorgan Chase, Wells Fargo and Citigroup
Stock Market News for October 14, 2016
by Zacks Equity Research
Benchmarks ended in the red on Thursday, dragged down by declines in financial shares
Retail Sales, PPI and Big Banks All Within Reason
by Mark Vickery
September reads on Retail Sales and PPI were mostly in-line, and JPMorgan, Citigroup and Wells Fargo all topped estimates.
What's Up with the Market Sell-Off?
by Mark Vickery
At this hour, we're seeing the S&P 500 down an additional 4.25 points (it was down 1.25% yesterday), the Dow down another 41 and the Nasdaq down 12.5 points.
The End of Another Quarter. What Have We Learned?
by Mark Vickery
If Wells Fargo can survive its fraud scandal, DB should be able to weather this storm.
Housing Starts, Permits Down in August
by Mark Vickery
August Housing Starts fell 5.8% (annualized), while Building Permits were down 0.4%.
Much Ado About 25 Basis Points
by Mark Vickery
Money has been really cheap for a really long time, and market participants are quite unused to making an adjustment.