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Articles Tagged with ''Wells Fargo''

Existing home sales suffer from inadequate supply

Northeast only region to see an uptick
Although the Northeast saw an uptick in sales, nationally existing home sales fell back for the second straight month in May. One expert says supply is woefully inadequate to meet demand, pushing prices ever higher and contributing to mounting affordability woes.
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Homebuilder confidence falters on rising lumber prices

June confidence slips two points to 68
Sharply elevated lumber prices contributed to homebuilder confidence slipping two points to 68 in June, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. However, improved economic growth, continued job creation and solid housing demand should spur additional single-family construction for the months ahead.
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Court finally approves Wells Fargo’s $142 million fake account class action settlement

It’s finally final
A federal court has finally given final approval to Wells Fargo’s $142 million class action settlement for the bank’s customers who had a fake account opened in their name. The final approval comes nearly a year after the settlement received preliminary approval by the judge overseeing the lawsuit, and more than a year after the settlement was first announced.
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Another scandal: Wells Fargo alters corporate customers’ documents

Could have changed Social Security numbers, dates of birth
Wells Fargo finds itself in the midst of yet another scandal as a new report surfaces, showing the employees in the unit which handles its business banking illegally altered its customers’ documents. And this latest scandal stems from actions taken by employees in 2017 and even early 2018 as they rushed to meet deadlines.
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Wells Fargo: You’re scaring younger generations away

Here’s why young adults may steer clear
[Op-ed] Many Millennials are looking for a trustworthy bank, but will Wells Fargo’s scandalous headlines steer them away? As I approach independence, the bank I choose will set me up for failure or success. While many seem promising, I’m definitely hesitant about this one in particular.
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Monday Morning Cup of Coffee: Federal Reserve Board to vote on lifting Wells Fargo’s growth restrictions

Plus St. Louis Fed President James Bullard says further rate increases aren’t necessary
Following pressure from Sen. Elizabeth Warren, Federal Reserve Chair Jerome Powell has indicated that the Fed's Board of Governors will hold a vote to decide whether or not to lift growth restrictions placed on the megabank. Plus, here's why Capital One putting a stop to mortgage lending is good for its investors.
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