Wells Fargo

A regional financial services holding company based in San Francisco, Calif.

Business
August 10
In this July 10, 2019, photo a Wells Fargo building is shown in downtown Minneapolis. Wells Fargo is shrinking a customer service office in Shoreview,

Wells Fargo to shrink office in Shoreview, costing 400 jobs

Wells Fargo is shrinking a customer service center in Shoreview, a move that will lead to the elimination of about 400 jobs.
Business
July 27
FILE- This Nov. 29, 2018, file photo shows a Wells Fargo bank location in Philadelphia. Wells Fargo customers are experiencing issues with accessing o

Schafer: Wells Fargo's challenges start with finding a new CEO

Maybe my expectations were too high, but finding the job I was looking for on the careers web page of Wells Fargo & Co. proved…
Business
March 27

Wells Fargo to lay off 200 from Bloomington operation it is closing

Wells Fargo notified state officials that it will eliminate about 200 jobs at an office in Bloomington from which it provides payroll services to businesses.The…
Business
March 1
A new Wells Fargo website will provide resources and information to customers who are eligible for restitution.

Victims of Wells Fargo fake-account scandal can use website to seek restitution

Funds from suit filed by attorneys general are now available to be claimed.
Local
January 12, 2017

Some Wells Fargo mortgage customers in Hennepin County surprised by tax notice

A mix-up by Wells Fargo startles about 40 mortgage customers throughout Hennepin County.
Business
October 8, 2016
Minnesota Attorney General Lori Swanson added her voice to a chorus of political figures criticizing Wells Fargo's requirement that customers submit t

Schafer: Size wasn't the issue in Wells Fargo debacle

Could the fake accounts scandal mean it's time to break up Wells Fargo & Co.?
Business
September 18, 2016
FILE - In this July 14, 2014, file photo, a man passes by a Wells Fargo bank office in Oakland, Calif. Regulators announced Thursday, Sept. 8, 2016, t

Schafer: Wells Fargo fiasco had roots in Norwest strategy

Wells Fargo may have a California headquarters address and carry a California brand name, but scrape off the red and yellow paint of Wells Fargo and you will see the blue and green of Norwest Corp.
Business
December 9, 2014

Wells Fargo CEO sees U.S. economy growing faster than estimated

Head of the most valuable U.S. bank said economic expansion in 2015 will exceed estimates.
Wells raises
October 15, 2014
John Stumpf, Wells Fargo CEO, in Minneapolis this May.

Schafer: Wells Fargo missed mark after worker requested $10,000 raises for all

Wells Fargo is in the business of helping people manage their money to live better lives. What a blown opportunity when an employee made national news by asking for a raise.
Business
August 19, 2014
Pedestrians pass in front of a Wells Fargo & Co. bank branch at night in New York, U.S., on Monday, April 7, 2014. Wells Fargo & Co. is expected to re

$62.5 million settlement approved in Wells Fargo securities lending case

$62.5M addresses those who lost money in securities lending.
Business
July 2, 2014
A construction crew from Ryan Cos. was beginning the process of removing medallions from the front of the Star Tribune building in February on Portlan

Historic medallions to grace Wells Fargo building in Downtown East

Six historic medallions that once adorned the front of the Star Tribune's headquarters will be installed on dual Wells Fargo office towers that anchor a $400 million mixed-use development in downtown Minneapolis.
Wells Fargo settlement
May 31, 2014
Wells Fargo is settling a lawsuit brought by retirement funds over an investment program that was riskier than advertised.

Wells Fargo will pay $62.5 million to settle suit over securities lending

Retirement funds claimed Wells Fargo made riskier bets in an investment program that was billed as a conservative play.
Business
May 24, 2014
The Wells Fargo logo is displayed outside a home mortgage office in Springfield, Ill., Friday, Oct 3, 2008.

Wells Fargo settling robo-signing lawsuit

Bank will pay at least $83 million, including $24.5 million to build a better loan servicing platform.
Business
April 12, 2014
A Wells Fargo & Co. branch in New York. On Friday, Wells Fargo reported 14 percent profit growth in its first quarter, pushing the company’s shares

Wells Fargo profit rises 14 percent

The bank's executives anticipate broad loan growth, beyond the home mortgages that have powered the company's earnings in recent years.
Business
March 29, 2014

Schafer: It's scary how well marketers know you

A letter from Wells Fargo Bank pitching a debt consolidation loan to my wife was so off base it could only have been generated by…
Business
March 19, 2014

CEO Pay Watch: John Stumpf, Wells Fargo & Co.

CEO Pay Watch Wells Fargo & Co.John Stumpf, CEO, Wells FargoTotal compensation: $66,007,369 for the year ended Dec. 31Salary: $2,800,000Non-equity incentive pay: $4,000,000Other compensation:…
Downtown East
March 6, 2014
Wells Fargo’s two 17-story office towers will cover two blocks facing a new public park near the Downtown East light-rail station.

Wells Fargo pays $217M for two new Downtown East buildings

The bank plans to move 5,000 employees into two 17-story office towers to be built near the new Vikings stadium.
Wells Fargo layoffs
February 27, 2014
Wells Fargo Home Mortgage in Minneapolis.

Wells Fargo cuts 700 jobs, including 203 in Twin Cities

Wells Fargo cuts 700 employees, including 203 in the Twin Cities, as demand for mortgages declines.
Business
February 23, 2014
analyst’s view: “I think Wells is trying to be a good citizen here” by signaling a change in credit underwriting practices. Today there’s basi

Schafer: Wells Fargo returns to subprime lending: Good or bad?

The small change in underwriting standards it has made is the kind of change that makes the market for residential housing finance a little healthier and modestly expands access to credit.
Target data breach
January 29, 2014
Banks have replaced 15.3M cards since Target breach

Banks have replaced 15.3M cards since Target breach

Wells Fargo & Co. is the latest bank to shift gears and start proactively replacing cards exposed during Target's breach.
Business
January 18, 2014
Pedestrians pass in front of a Wells Fargo & Co. bank branch in New York.

Wells Fargo, U.S. Bank drop payday loans

U.S. Bank says it's looking for a better alternative to the high-interest loans.
Business
January 15, 2014
Wells Fargo kept its double-digit profit growth even though its mortgage refinancing business has slowed.

Wells Fargo: Finding new normal

Cutting costs, dipping into funds set aside for future bad loans and broad-based loan growth helped push Wells Fargo to a strong finish for 2013, despite the mortgage refinance slowdown.
Business
January 13, 2014

Oct. 30, 2013: Minnesota AG sues Florida debt buyer

The company faked affidavits of bank overdrafts and fees to collect money from individuals and businesses, the attorney general said.
Minneapolis
December 31, 2013

Wells Fargo settles mortgage dispute with Fannie Mae for $591 million

Repurchase agreement ends dispute with Fannie Mae over lending practices by banks.
Downtown East project
December 20, 2013
Ryan Companies' project in conjunction with the new Vikings stadium includes two office towers (at left) that Wells Fargo will occupy.

Wells Fargo to spend $300M to build offices near Vikings stadium

The San Francisco-based financial giant said that 5,000 employees will occupy 1.1 million square feet in two 17-story office towers slated for largely vacant land near the Metrodome.