Wells Fargo News

Wells Fargo Issues 38,000 Erroneous Letters After Auto Insurance Flub

Wells Fargo has made missteps in its efforts to make amends to customers who were forced to buy unneeded auto insurance. Bank spokeswoman Catherine Pulley said 38,000 customers received a letter they did not need and that contained no refund. …

HSBC, Wells Fargo Settle Forced Property Insurance Lawsuits

HSBC Holdings Plc and Wells Fargo & Co. agreed to settle lawsuits by mortgage holders who alleged they were forced to pay for property insurance at inflated rates. HSBC will pay as much as $32 million to resolve the claims, …

Wells Fargo Insurance Announces New International Specialty Group

To better meet the global needs of its customers, Wells Fargo Insurance, part of Wells Fargo & Company, is expanding its international specialty group by establishing three new teams solely dedicated to serving the insurance and risk management needs of …

Cyber Attacks Against Wells Handled Well: CFO

Recent cyber attacks against Wells Fargo & Co were “pretty significant” but didn’t cause customer losses or a major increase in expenses, the bank’s Chief Financial Officer, Tim Sloan, told Reuters on Friday. The No. 4 U.S. bank by assets …

Wells Fargo to Pay $175M in Race Discrimination Probe

Wells Fargo & Co agreed to pay $175 million to resolve allegations it charged African-Americans and Hispanics higher rates and fees on mortgages even when they qualified for better deals during the housing boom, the U.S. Justice Department said on …