Wells Fargo shareholders on Tuesday approved its plans for executive compensation with a majority vote, including hiking CEO Charlie Scharf's 2023 package to...
FILE PHOTO: The logo and trading information for Wells Fargo are displayed on a screen on the floor of the NYSENEW YORK - Wells Fargo shareholders on Tuesday approved its plans for executive compensation with a majority vote, including hiking CEO Charlie Scharf 's 2023 package to $29 million.
The lender still has eight open consent orders after the U.S. Office of the Comptroller of the Currency in February terminated a 2016 punishment for the bank's sale practices. Citigroup CEO Jane Fraser also said on Tuesday that U.S. consumers are becoming more cautious with their spending, making smaller purchases.3 Beaten-Down Stocks that Could Take Off in the New Bull Market
Shopify stock was climbing Monday after an analyst upgraded shares of the e-commerce platform on confidence in growth. Citi analyst Tyler Radke upgraded shares of Shopify to Buy from Neutral, and increased his target price to $105 from $93, which implies a 47% increase in the stock price as of Friday’s close. “Our Deep-Dive analysis into SHOP’s Merchant Solutions business gives us confidence in SHOP’s long-term growth,” Radke wrote in a research note.
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Wells Fargo Founder’s College in New York’s Finger Lakes to ShutWells College, a small college located in the Finger Lakes region of upstate New York, will close at the end of the spring semester, joining a spate of colleges in the state to do so.
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Wells Fargo Weighs Debut Risk Transfer as Banks Shore Up CapitalWells Fargo & Co. is looking at essentially buying insurance on some of the loans in its portfolio using a transaction known as a synthetic risk transfer, potentially becoming the latest big bank to use the product to cope with looming capital rules.
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Wells Fargo bond saleswoman sues over 'unapologetically sexist' workplaceExplore stories from Atlantic Canada.
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Wells Fargo bond saleswoman sues over 'unapologetically sexist' workplaceExplore stories from Atlantic Canada.
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Wells Fargo Bond Saleswoman Claims Pay Bias in ‘Boys Club’ TeamA Wells Fargo & Co. bond saleswoman sued the bank for sex discrimination, claiming she was denied the same promotions and pay as men and forced to endure a “boys’ club” environment.
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Wells Fargo's Q1 Profit Falls 7% as Costs Rise and Borrower Demand DeclinesWells Fargo reported a 7% decrease in profit for the first quarter due to increased costs of paying customers for deposits and a decline in demand from borrowers. However, the bank's adjusted profit of $1.26 per share exceeded analysts' expectations. The bank's net interest income also fell by 8% to $12.23 billion, primarily due to higher interest rates on funding costs and lower loan balances.
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