The employees' alleged actions were outside of their work responsibilities and do not involve Wells Fargo's customers, the company said. The bank says it's cooperating with law enforcement. Read More
The Federal Reserve cut its key interest rate to near zero — a dramatic move not seen since the depths of the 2008 financial crisis. President Trump — who has slammed the Fed — praised the move.Read More
Elizabeth Duke and James Quigley were scheduled to testify. Democrats last week said Wells Fargo was slow to "correct serious deficiencies in its infrastructure for managing risks to consumers."Read More
The U.S. House on Wednesday passed a landmark bill aimed at helping the fast-growing legal cannabis industry. Backers of fully legalizing marijuana said the 321-103 vote in favor of the so-called “SAFE Banking Act” is a key victory in their drive to bring the drug out of the legal shadows.Read More
Marijuana is legal medically or recreationally in 34 states, but it's still illegal under federal law. And though many businesses have entered that new gray market, the financial services industry has not. No major U.S. banks will open accounts for a company like Canndescent or its retail clients.Read More
Wells Fargo announced Thursday that CEO and President Tim Sloan will step down immediately. The company's general counsel Allen Parker was elected to run the company until a new CEO is selected.Read More
