Wells Fargo | featured news

Wells Fargo agreed to pay $100 million to Citigroup to settle all claims related to its $15-billion deal to acquire Wachovia in the midst of the financial crisis.

With one out of every 245 Minnesota housing units in foreclosure during September, news has broken that Wells Fargo, along with other big banks, may have helped push some homeowners off properties with the use of "robo signers."And the bank, with deep ties to Minnesota, has no intention of changing its ways.

Wells Fargo said it will shut down a unit that makes "non-prime" real estate, auto and credit card loans and stop originating nonprime mortgages, eliminating a total of 3,800 jobs.

Wells Fargo is ending its free checking account. Bank of America is testing out options. Others are expected to follow suit. The good news for bank customers this summer is that new federal rules should cut down on unexpected overdraft fees.

The bank beat Q4 estimates. Executives say credit statistics are improving.

Wells Fargo said Monday evening that it would repay the entire $25 billion that it received in the government's bailout last year. It said some of the money would come from a $10.4 billion stock sale.

When the credit crisis struck last year, federal regulators pumped tens of billions of dollars into the nation's leading financial institutions because the banks were so big that officials feared their failure would ruin the entire financial system. Today, the biggest of those banks are even bigger.

Several major U.S. banks, led by Wells Fargo & Co, said the troubled economy drove credit losses higher, reducing profitability in the second quarter.

Wells Fargo & Co priced 341 million common shares at $22 per share on Friday, a source familiar with the matter said, raising a more-than-expected $7.5 billion in new equity ...

Attorney General Jerry Brown says customers were misled into believing that auction-rate securities were safe. Wells Fargo disputes that, and says it aided customers hit by the collapse of the market.

California today sued investment subsidiaries of Wells Fargo & Co.