The SEC on Thursday charged Wachovia Bank N.A. -- now Wells Fargo Bank following a merger in March 2010 -- with fraudulently engaging in secret arrangements with bidding agents to improperly win business from municipalities and guarantee itself profits in the reinvestment of municipal bond proceeds.
Wells Fargo & Co plans to cut technology and operations jobs by the end of this year as the bank tries to eliminate more than $1.5 billion of quarterly operating expenses.
A controversial weapon could be deployed soon in the U.S. fight against the housing crisis as states and top banks near a deal in their dispute over mortgage abuses -- cutting the mortgage debt owed by homeowners.
Wells Fargo & Company (NYSE: WFC) said its third quarter earnings grew 21 percent on improving credit quality. Its earnings came in above Street's view.
Redwood Trust, a California-based REIT, is about to launch its second private-label RMBS of the year, a US$375.2m prime-mortgage offering called Sequoia Mortgage Trust 2011-2 (SEMT 2011-2), according to a presale report released on Wednesday by Fitch Ratings.
Harris Williams & Co. has hired Mike Wilkins to help the investment-banking unit of lending giant PNC Financial Services (PNC.N) become involved in more Silicon Valley deals.
Robert Kelly, the chief executive of Bank of New York Mellon Corp. (NYSE: BK) was recently fired reportedly because of his “abrasive” personality and management style.
The chief executive of Bank of New York Mellon Corp. Robert Kelly was fired on Wednesday reportedly because of his “abrasive” personality and management style.
Wells Fargo won't let employees plug personal smartphones into the bank's IT system. The bank issues Blackberry's not iPhones to many employees for company work.
The US guest workers programs design needs an immediate and substantial in the wake of high unemployment in the nation.
