Banks, Wells Fargo | featured news

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.

Lawmakers and consumer groups skewered the San Francisco bank, which got a $25-billion infusion from the government, after they heard about the event to fete top mortgage salespeople.

Cries for post-bailout accountability resounded at the biggest banks Tuesday as Citigroup Inc. issued a 43-page defense of its lending, a consumer group lashed Bank of America Corp. for throwing a $10-million Super Bowl bash, and Wells Fargo & Co.

Wells Fargo & Co. on Wednesday reported a fourth-quarter loss of about $2.6 billion as the banking giant was hit by credit write-downs while losses at Wachovia, which it recently acquired ...