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Key Takeaways CEOs of three major US banks will meet with senators to discuss ongoing efforts around crypto market structure rules. The Senate Banking and Agriculture committees expect to vote on the legislation this month. Share this article Punchbowl News reports that the CEOs of Citigroup, Bank of America, and Wells Fargo have been invited … Read more
The document, Charlie Scharf recalls, was 3,162 pages. It included 6,000 tasks; 28,000 people worked on it. This staggeringly long volume was the plan to save Wells Fargo, forged by Scharf and his team shortly after he took over as CEO in October 2019. At the time, Wells had been laboring under a regulatory crackdown … Read more
Wells Fargo appears to have quietly rebranded its public-facing DEI language earlier this summer, completely eliminating all diversity language, HR Brew found while comparing the current version of the company’s site to a previous version, recovered through an archival site. The company’s website now refers to the program as “inclusion and accessibility” and features a … Read more
Key Takeaways Wells Fargo increased its stake in BlackRock’s iShares Bitcoin Trust from $26 million to over $160 million in Q2 2025. The bank also expanded its investments in other Bitcoin ETFs, including Invesco Galaxy Bitcoin ETF (BTCO) and Grayscale’s funds. Share this article Wells Fargo increased its holdings in BlackRock’s Bitcoin ETF, the iShares … Read more
Wells Fargo (NYSE: WFC) reported its second quarter 2025 earnings results today. Total revenue increased 1% year-over-year to $20.8 billion. Net income grew 12% to $5.5 billion while earnings per share rose 20% to $1.60. Total revenue in the Consumer Banking and Lending segment increased 2% YoY to $9.2 billion. Commercial Banking revenue decreased 6% … Read more
The Federal Reserve said Tuesday that Wells Fargo is no longer subject to harsh restraints the Fed placed on the bank in 2018 for having a toxic sales and banking culture. It’s a win for Wells Fargo, which has spent nearly a decade trying to convince the public and policymakers that it had changed its … Read more
Key Takeaways Major US banks are collaborating on a stablecoin initiative to compete with the crypto industry. The project highlights the integration of digital assets within traditional banking infrastructure. Share this article America’s biggest banks are evaluating a collaborative stablecoin initiative to compete with digital asset platforms that are rapidly gaining market share, the Wall … Read more
FILE PHOTO: Office of Management and Budget (OMB) Acting Director Russell Vought testifies before House Budget Committee on 2020 Budget on Capitol Hill in Washington, U.S., March 12, 2019. Yuri Gripas | Reuters The Consumer Financial Protection Bureau on Tuesday dismissed its lawsuit against the operator of the Zelle payments network and the three U.S. banks … Read more
The Wells Fargo CEO said the incoming administration signaled a “more business-friendly approach to policies and regulations.” Read More
Wells Fargo shares climbed Wednesday after the bank posted better-than-expected earnings and issued strong guidance on net interest income for 2025. Here’s what the bank reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Adjusted earnings per share: $1.42 vs. $1.35 expected Revenue: $20.38 billion versus $20.59 … Read more
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