Wells Fargo (WFC) 'Disappointed' Chicago City Council Has Chosen to Suspend Relationship
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 4/18/2024
- Stocks end near flat as investors assess earnings, data
- Netflix Q1 earnings top estimates on blowout subscriber growth
- Taiwan Semi (TSM) Q1 profit beats expectations on AI demand
- Stocks have priced in much of the 2024 optimism - Wells Fargo
- Intuitive Surgiical (ISRG) beats earnings, revenue expectations in Q1
- Hasbro (HAS) Announces Resignation of Cynthia Williams, President of Wizards of the Coast and Hasbro Gaming
- Tritium DCFC Limited (DCFC): Three Australian subsidiaries were determined to be insolvent or likely to become insolvent
- ICZOOM Group (IZM) Discloses Request to Withdraw Registration Statement on Form F-1
- Alaska Airlines flights resume after being grounded over aircraft system issue
- Frontier Communications (FYBR) says third party had gained unauthorized access to portions of its information technology environment
- After-hours movers: Netflix, Intuitive Surgical, Nordstrom, KB Home
- Midday movers: Tesla, Blackstone, Las Vegas Sands fall; DR Horton rises
- After-hours movers: Alcoa rises; Equifax and Las Vegas Sands fall
- Midday movers: Travelers, JB Hunt fall; United Airlines rises
- After-hours movers: United Airlines, J.B. Hunt, and more
Chicago latest to sanction Wells Fargo for defrauding customers
October 5, 2016 12:17 PM EDTBy Karen Pierog and Dave McKinney
CHICAGO (Reuters) - The Chicago City Council on Wednesday approved a one-year suspension for Wells Fargo & Co from city business because of its scandal over phony accounts, joining the states of Illinois and California in punishing the bank.
The ban includes bond underwriting, brokerage, trustee and other services the bank has provided to the city. Wells Fargo has earned $19.5 million in fees from Chicago since 2005.
Wells Fargo staff opened checking, savings and credit card accounts without customer approval for years to satisfy managers' demand for new business, according to a $190... More
