Wells Fargo says account openings fall in November

The bank agreed in September to pay regulators $185 million to settle charges that its staff opened as many as 2 million accounts without customers' knowledge. Wells Fargo said on Friday consumer checking account openings fell 9 percent in November from the previous month, and were down 41 percent from a year earlier. The bank started reporting monthly figures on retail banking activity last moth as part of an effort to win back the trust of investors.

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Wells Fargo says account openings fall in November

With bylaw tweaks, Apple grants activist one of three wishes

By Ross Kerber and Stephen Nellis BOSTON/SAN FRANCISCO (Reuters) – Apple Inc's board relaxed some rules for director nominations by outside investors but stopped short of broader changes sought by an activist shareholder. Just how much influence to give such investors has been a hot topic with the rise of activist shareholders who some executives fear may not have long-term corporate interests at heart. At Apple, this debate played out several years ago when billionaire activist investor Carl Icahn successfully urged an increase in share buybacks.

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With bylaw tweaks, Apple grants activist one of three wishes

Warren slams Wells Fargo over arbitration position

Massachusetts Democratic Senator Elizabeth Warren on Monday criticized Wells Fargo & Co's decision to require customers affected by its unauthorized accounts scandal to go through arbitration rather than allowing them to sue. The San Francisco-based bank last week asked a U.S. court to uphold contract clauses that mandate arbitration, something financial firms often use to protect against litigation. In a Facebook post on Monday, Warren, a frequent critic of the banking industry, said Wells Fargo's promise to treat customers better in light of the scandal is “meaningless” as long as it is pursuing arbitration.

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Warren slams Wells Fargo over arbitration position

Wells Fargo faces tighter controls as U.S. regulator reverses course

By Patrick Rucker WASHINGTON (Reuters) – A leading U.S. bank regulator on Friday reversed course and positioned the agency to claw back pay of former executives at Wells Fargo & Co after a phony-accounts scandal. Friday's move may target executive pay at Wells Fargo at a time when some lawmakers complain bank bosses have not paid a fair price for their part in financial scandals. Congressional hearings followed news of the scandal and John Stumpf, the firm's chief executive officer, resigned.

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Wells Fargo faces tighter controls as U.S. regulator reverses course

Wells Fargo’s corporate responsibility chair resigns from private equity firm

Federico Pena, a member of Wells Fargo’s board of directors and chairman of its corporate responsibility committee, has resigned from an advisory position with Vestar Capital Partners, a private equity firm. The corporate responsibility committee, which is meant to monitor the bank's reputation, has come under fire since it emerged that Wells Fargo's branch staff created as many as 2 million accounts without customers' knowledge to meet internal sales targets. “I only spent one year as the head of the committee,” said Pena, who served as energy secretary and transportation secretary during Bill Clinton's presidency.

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Wells Fargo’s corporate responsibility chair resigns from private equity firm

Wells Fargo’s new CEO faces immediate test

Tim Sloan will not have much time to prepare his pitch for Wall Street. The newly installed chief executive of Wells Fargo & Co will present third-quarter results on Friday, less than 48 hours after replacing John Stumpf at the helm of the bank. Sloan's nearly 30 years with Wells, largely spent on the corporate and institutional side of the bank, and his moderate temperament make him a safe pair of hands.

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Wells Fargo’s new CEO faces immediate test

Wells Fargo’s systemic importance rose, says U.S. report

Wells Fargo & Co is the only large U.S. bank to become “significantly” more important to the global financial system in recent years, according to a report on Wednesday by a U.S. government research group. The Office of Financial Research, a financial stability watchdog housed within the U.S. Treasury Department, studied the systemic importance of the world's largest banks using 2014 data from the Basel Committee on Banking Supervision. Regulators define systemically important banks as those whose failure could pose a threat to the global financial system.

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Wells Fargo’s systemic importance rose, says U.S. report

Wells Fargo admits deception in $1.2 billion U.S. mortgage accord

The settlement with Wells Fargo, the largest U.S. mortgage lender and third-largest U.S. bank by assets, was filed on Friday in Manhattan federal court. It also resolves claims against Kurt Lofrano, a former Wells Fargo vice president.

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Wells Fargo admits deception in $1.2 billion U.S. mortgage accord