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The Latest Breaking News from Wells

How Wells Fargo’s CEO led the bank from scandal to stability

Charlie Scharf rebuilt a broken bank using clear accountability and a refusal to chase flash over fundamentals.

Fortune

Wells Fargo was reeling from scandal. Jamie Dimon protégé Charlie Scharf bet his career on saving the 173-year-old bank

Regulators were circling. The stock was sinking. This is the inside story of how Scharf took the toughest job on Wall Street, and got a legendary corporation back on track.

Fortune

SA Ambulance received no alerts from service meant to notify authorities during Optus triple zero outage last month

Exclusive: Despite being signed up to a new alert system, the South Australian emergency service was not notified during September’s triple zero outage

The Guardian - AU

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China Blocks US Patent Official From Leaving Mainland Days After 'Exit Ban' On Wells Fargo Executive, Beijing Says It's Lawful

Chinese authorities have barred a U.S. Department of Commerce employee from leaving the country, deepening concerns over the use of exit bans on American citizens.

Benzinga

Fed lifts restrictions placed on Wells Fargo in 2018 because of its fake-accounts scandal

The Federal Reserve said Tuesday that Wells Fargo is no longer subject to the restraints the Fed placed on the bank in 2018 for having a toxic sales and banking culture

The Independent UK

As JPMorgan, Wells Fargo and Morgan Stanley beat Q1 expectations, Jamie Dimon says he cares less about the U.S. economy than that the “Western world stays together economically”

Mostly positive bank earnings were clouded by the chaotic start to Q2 and the murky economic outlook.

Fortune

SEC Closes Gemini Probe, Seeks Pause In TRON, Justin Sun Case

The SEC under a new leadership has once again rolled back another investigation initiated by the regulator under former Chair Gary Gensler, dropping its investigation into the Winklevoss twins' Gemini exchange.

International Business Times

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SEC Drops Investigations Into Robinhood Crypto, Uniswap, Driving $UNI Price Up

The SEC has dropped its investigations into Robinhood Crypto and Uniswap, marking what Uniswap said was a "win for DeFi" as the Wall Street regulator pivots toward a more positive approach in regulating digital assets.

International Business Times

Robinhood Trends After $2.5M Bitcoin Giveaway To Gold Members Who Tuned In To 2025 Countdown

Crypto users on X went abuzz Wednesday night after Robinhood gave away $2.5 million worth of Bitcoin to its Gold members who tuned in to the New Year 2025 countdown on the Robinhood app.

International Business Times

NFT Project CyberKongz Says SEC Issued Wells Notice As Gensler Prepares For Exit

NFT gaming platform CyberKongz said Monday that it received a Wells notice from the SEC and has been "suffering" for the past two years after it was first approached by the regulator.

International Business Times

Most US Voters Agree SEC Should Wait For Congressional Crypto Guidelines Before Enforcement: Poll

A new poll commissioned by the Blockchain Association has revealed critical details about the perceptions of American voters regarding the Gary Gensler SEC's enforcement-first approach toward digital assets.

International Business Times

The Climate Crisis Is Driving Bankers to Quit Their Jobs in Disillusionment

Wells Fargo and others pledged to achieve net-zero and invest in sustainable financing. Instead, they kept funding fossil fuels.

Capital & Main

'No Other Choice': Crypto.com Sues SEC After Receiving Wells Notice

Crypto.com is taking the SEC to court after the crypto exchange received a Wells notice, joining the expanding list of crypto-related firms that have been threatened with enforcement action for their services and offerings.

International Business Times

No, NFTs Should Not Be Labeled Securities

Let's not penalize these artists by labeling NFTs as securities.

Kiplinger

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International Business Times

'Dazed And Confused': Key Takeaways From Congress Hearing On SEC's 'Politicized' Approach To Crypto

The Digital Assets Subcommittee of the House Financial Services Committee held a hearing Wednesday to discuss with stakeholders how the SEC has been handling crypto regulation, and many lawmakers expressed concern over the regulator's regulatory approach.

The Independent UK

Newly freed from federal restrictions, Wells Fargo agrees to shore up crime risk detection

Wells Fargo has agreed to work with U.S. bank regulators to shore up its financial crimes risk management, including internal controls related to suspicious activity and money laundering

International Business Times UK

60-Year-Old Wells Fargo Worker Died At Her Desk And Was Found Four Days Later By Colleagues Due To Foul Odor

A Wells Fargo employee was found dead at her desk four days after her death, sparking criticism of the company's treatment of its employees.

International Business Times

'Uncharted Territory': Mixed Reactions After OpenSea CEO Reveals SEC Wells Notice

OpenSea's Devin Finzer said the NFT marketplace received a Wells notice from the SEC, and while many are defending the platform, others said OpenSea brought it upon itself.

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Fortune

With recession looming Wells Fargo sees a small bank in Puerto Rico and two other ‘places to hide’ from stock market fall-out

As the S&P 500 fell 6.5% in five days a new Wells Fargo report says a couple regional banks, trust banks and an unusual play in Puerto Rico could withstand a full-blow recession

Fortune

SEC drops key stablecoin investigation into Paxos in win for crypto industry

The Gary Gensler-led agency issued a Wells notice against Paxos in Feb. 2023, indicating an active investigation and possible enforcement action.

Fortune

One of Wall Street’s top strategists sees stocks dropping 10% due to a ‘moderate form of stagflation’

Stifel's Barry Bannister fears sticky inflation and higher rates will hurt stocks, while Wells Fargo's Scott Wren ponders if investors should "sell in May and go away."

International Business Times

Billionaire Mark Cuban Blasts SEC For 'One Size Fits All' Approach To Crypto Sector

Cuban has criticized the SEC for pushing its "one size fits all" regulatory approach for the cryptocurrency industry, saying the regulator didn't pick up any lessons from the collapse of early crypto exchange Mt. Gox.

International Business Times

Cardano Creator Says Biden Administration Seeks To 'Kill Crypto' Amid SEC Bulletin Drama

Charles Hoskinson called the Biden administration's latest statement regarding a House resolution that repeals the highly-debated SAB 121 of the SEC as "garbage."

International Business Times

Embattled Robinhood Reports Staggering 224% Spike In Q1 Crypto Notional Trading Volume

Robinhood has just unveiled its Q1 2024 earnings, highlighting how its embattled cryptocurrency unit played a major role in the fintech giant's overall profits during the first quarter.

International Business Times

'Scare Tactic': Lawmaker, Lawyer, Crypto Users Cry Foul Over SEC Robinhood Wells Notice

The crypto space is outraged over the SEC's seeming "abuse" of the Wells process as the regulator issued a Wells Notice to Robinhood's crypto arm just weeks after Uniswap received a notice.

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