2016 has not been kind to the nation’s largest banks, and Wells Fargo is no exception. Its recent performance was weighed down by troubles in the energy sector, as the bank has billions of outstanding loans out to oil and gas companies that are struggling to repay. It’s wealth management division will also now have to contend with the much-feared fiduciary rule, which will upend the way banks like Wells Fargo dispense financial advice. That said, the long term outlook for the bank is strong, as it surpassed Citigroup this year to become the third largest bank in America by assets, while it is nearly unrivaled in its focus on its main street customers who give the bank more than a trillion dollars in low cost deposits.
News about Wells Fargo
Companies are offering everything from free rides to million dollar donations.
The bank is trying to "fix things forward."
Data over documents could be the key to making mortgages accessible to the masses.
Videos about Wells Fargo
Tim Sloan testified in front of the Senate.
His first decision was to get rid of the sales incentive plan that led to millions of fake accounts.
Tim Sloan sits with Susie Gharib to discuss the bank’s reputation.