Wells Fargo (WFC) shares soared 5.2% in the last trading session to close at $56.39. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 6.1% loss over the past four weeks.The company witnessed a strong price increase as its longstanding battle to escape a Federal Reserve restriction imposed on its assets since 2018 has entered a new phase. The bank has submitted a third-party review of its risk and control overhauls to the Fed for s ...

Wells Fargo & Co.'s (WFC) longstanding battle to escape a Federal Reserve restriction imposed on its assets since 2018 entered a new phase. The bank submitted a third-party review of its risk and control overhauls to the Fed for scrutiny and approval, per a Bloomberg report, citing people familiar with the matter.Following the news, WFC’s shares rose 5.2% in yesterday’s trading session.The latest submission follows an extensive and time-consuming procedure during which Wells Fargo had to present a plan, hav ...

Wells Fargo & Company (WFC) faces a new class-action lawsuit, where it has been accused of underpaying interest to clients participating in its cash sweep program. Sweep programs were created to allow banks and brokers to put their customers' uninvested cash to work. They move excess client cash balances overnight into a money market fund or another higher-yielding product offered by a bank or affiliate bank.Details of WFC’s Cash Sweep Accounts LawsuitThe plaintiff, Darren Cobb, alleged that Wells Fargo bre ...

Wells Fargo reportedly submitted a third-party review of its risk and control overhauls to the Federal Reserve, seeking to end the Fed’s cap on its assets.The cap, which limits the bank to its size at the end of 2017, was imposed by the Fed as punishment for consumer abuses and compliance lapses at Wells Fargo at the time, Bloomberg reported Thursday (Sept. 26).The submission of the third-party review marks a new phase in the bank’s efforts to have the cap removed, the report said, citing unnamed sources.Re ...

In the latest market close, Wells Fargo (WFC) reached $53.61, with a -1.02% movement compared to the previous day. The stock's performance was behind the S&P 500's daily loss of 0.19%. Meanwhile, the Dow experienced a drop of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.04%.Coming into today, shares of the biggest U.S. mortgage lender had lost 3.73% in the past month. In that same time, the Finance sector gained 1.52%, while the S&P 500 gained 1.95%.The investment community will be paying ...

Wells Fargo & Company (WFC) expanded its Application Programming Interfaces (APIs) portfolio with the launch of specialized APIs for its Commercial Banking clients. Manufacturers, distributors and dealers can use Wells Fargo's API platform to connect directly from their preferred system. This automated setup permits effortless data transfer among trading partners, reducing delays in sending and receiving information. Customers do not have to input data, upload it to the server, or download it anymore, they ...

The most recent trading session ended with Wells Fargo (WFC) standing at $54.51, reflecting a +1.34% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.03%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.2%.Prior to today's trading, shares of the biggest U.S. mortgage lender had lost 4.71% over the past month. This has lagged the Finance sector's gain of 2.72% and the S&P 500's gain of 1.54% in that time.The invest ...

Shares of Wells Fargo & Company (WFC) lost 4% following the announcement of a formal agreement with the Office of the Comptroller of the Currency (OCC) concerning the bank’s anti-money laundering (AML) and sanctions risk management practices.The agreement points out flaws in the bank's anti-money laundering internal controls and risk management procedures in several areas, such as the reporting of suspicious activity and currency transactions, customer due diligence and the bank's customer identification an ...

When markets are climbing, many traders who sold early often regret their decision. They watch as the stocks they sold continue to rise, missing out on further gains.This seller’s remorse, a common phenomenon in bull markets, is often visible on stock charts, as traders rush to buy back shares they sold too soon. That's why Wells Fargo & Company WFC is our Stock of the Day. It is an excellent example of this price actionAs you can see on the chart, the $46.80 level was resistance in July 2023. After hitting ...

Wells Fargo & Company (NYSE:WFC) Barclays 22nd Annual Global Financial Services Conference Call September 10, 2024 7:30 AM ET Company Participants Mike Santomassimo - Chief Financial Officer Conference Call Participants Jason Goldberg - Barclays Jason Goldberg Good morning. I'm Jason Goldberg, and welcome to day two of Barclays 22nd Annual Global Financial Services Conference. Thank you for joining us. We have a full slate of large-cap banks. We've got 11 in a row, all in this room, with the exception of Ba ...