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See how we can help you achieve your goals Bank wherever life takes you. See how we can help you achieve your goals Take control of your retirement. See how we can help you achieve your goals Your homeownership path starts here. Founded in , and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance through more than 7, locations, more than 13, ATMs, the internet wellsfargo.
Additional information may be found at wellsfargo. Learn more about our culture, and how Wells Fargo is helping our customers, helping our communities, and living our values. October 14, October 12, October 11, November 8, October 5, September 23, September 16, September 13, September 3, September 2, September 1, November 10, October 28, October 26, October 7, October 4, September 24, September 20, But he didn't blame the Fed, which has refused to lift the sanctions until Wells Fargo cleans itself up.
Wells Fargo has focused on these issues by revamping its corporate risk operation, including by hiring external executives. Still settling disputes with customers. But it's not just about the asset cap.
In other words, the bank is still paying the price for its history of scandals in the form of customer refunds and legal settlements. It's not entirely clear which of Wells Fargo's many controversies these costs relate to. Wells Fargo admitted its workers opened millions of fake bank and credit card accounts to meet wildly unrealistic sales goals. The bank has also said it forced thousands of borrowers to pay for auto insurance they didn't need.
Some of them even had their vehicles wrongfully repossessed. And it imposed unwarranted fees on potential homebuyers to lock in mortgage rates. On top of that, Wells Fargo has been accused of mistreating workers by retaliating against whistleblowers and forcing employees to work overtime without extra pay. Asked by CNN Business what the "remediation" refers to, John Shrewsberry, Wells Fargo's chief financial officer, said during a conference call with reporters that it's not directly related to the millions of fake accounts that were opened.
Shrewsberry said that Wells Fargo's new management has done a review of outstanding matters and is taking a "more generous view" in favor of customers to "reach a conclusion more quickly. It's striking that nearly four years after Wells Fargo's scandals erupted, it's still trying to resolve disputes with customers.
Wells Fargo's deep dividend cut. But the pain isn't over for employees and shareholders.
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