Charlie Scharf news and trends

Wells Fargo CEO More Confident in Bank’s Compliance Controls
Bank Regulation // December 11, 2024

Wells Fargo’s CEO reportedly has more confidence in his bank’s efforts to remedy its compliance issues. Charlie Scharf’s comments, as reported Wednesday (Dec. 11) by Reuters, follow the banking giant’s years-long fake account scandal. “For every one of our consent orders that we have, for...

Wells Fargo Selling San Francisco HQ in Eastward Expansion
Banking // December 04, 2024

Wells Fargo is reportedly selling its San Francisco headquarters as its leadership heads east. The banking giant’s office in San Francisco’s Financial District could go up for sale as soon as this month, the Wall Street Journal (WSJ) reported Wednesday (Dec. 3), citing sources familiar...

Wells Fargo: Rate Cut Should Ease Pressure on Lower-Income Consumers
Economy // October 11, 2024

Lower inflation and interest rates may give some relief to consumers who need it most, Wells Fargo CEO Charlie Scharf said Friday (Oct. 11). Speaking during the company’s quarterly earnings call, Scharf said the bank has not seen changes in delinquencies or spending that would...

Regulatory Backlash Against Chatbots Comes as Banks Find Value in Their Use
artificial intelligence // August 14, 2024

For banks, the chatbot is a tool that’s being retooled, a work in progress. The progress is being hastened by artificial intelligence (AI), where the digital customer assistants are used, and have long been used, to help consumers access a variety of data and transaction...

Quick Reads
CFPB Terminates 2022 Consent Order Against Wells Fargo

January 28, 2025
Wells Fargo has announced the termination of its 2022 consent order with the Consumer Financial Protection Bureau (CFPB) related to automobile lending, consumer deposit accounts and mortgage lending. “This is the seventh consent order closed by Wells Fargo’s regulators since 2019,” the bank said in a Tuesday (Jan. 28) press release. The CFPB page about […]

Wells Fargo CEO More Confident in Bank’s Compliance Controls

December 11, 2024
Wells Fargo’s CEO reportedly has more confidence in his bank’s efforts to remedy its compliance issues. Charlie Scharf’s comments, as reported Wednesday (Dec. 11) by Reuters, follow the banking giant’s...

Wells Fargo Selling San Francisco HQ in Eastward Expansion

December 04, 2024
Wells Fargo is reportedly selling its San Francisco headquarters as its leadership heads east. The banking giant’s office in San Francisco’s Financial District could go up for sale as soon...

Wells Fargo: Rate Cut Should Ease Pressure on Lower-Income Consumers

October 11, 2024
Lower inflation and interest rates may give some relief to consumers who need it most, Wells Fargo CEO Charlie Scharf said Friday (Oct. 11). Speaking during the company’s quarterly earnings...