Rafferty Capital Downgrades Wells Fargo (WFC) to Sell
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Wells Fargo (WFC) to Eliminate Bankers' Product Sales Goals
September 13, 2016 7:01 AM EDTWells Fargo & Company (NYSE: WFC), announced that it will eliminate all product sales goals in retail banking, effective January 1, 2017.
Our objective has always been and continues to be to meet our customers financial needs and drive customer satisfaction, said CEO John Stumpf. We are... More
While Wall Street Remains Calm, One Analyst Says 'Sell' Wells Fargo (WFC) Amid Widespread Customer Abuse
September 9, 2016 1:03 PM EDTShares of Wells Fargo (NYSE: WFC) are relatively stable (-1%) Friday, one day after being fined $185 million by the Consumer Financial Protection Bureau and other government agencies for the widespread illegal practice of secretly opening more than 2 million unauthorized deposit and credit card accounts. The company fired 5,300 employees related to the scheme and has launched a marketing blitz to avoid widespread damage to its reputation.
Most on Wall Street shrugged at the news - another day another financial firm fine, they thought - but one controversial banking analyst has sounded the alarm... More
