Wells Fargo paid Chief Executive Charlie Scharf $31.2 million for 2024, a more than 7% raise from a year earlier. Scharf earned a base salary of $2.5 million and a cash bonus of $7.2 million, according to a securities filing made public Thursday.

The bank’s board credited the CEO for returning $25 billion to shareholders last year and keeping a focus on risk and control infrastructure, which it called the company’s “number-one priority.”

The Consumer Financial Protection Bureau closed a consent order, but notes that it continues to monitor Wells Fargo closely.

Wells Fargo’s automobile- and mortgage-lending practices have now satisfied the requirements of a 2022 consent order set by federal regulators, the bank said.

U.S. bank Wells Fargo & Co. (WFC) has cleared an important regulatory hurdle in its efforts to have the $1.95 trillion asset cap imposed on

Jon Weiss, who led the unit with Fernando Rivas, will step down and Rivas will become the sole CEO of the lender’s corporate and investment bank, the company said.

An individual was robbed at gunpoint at a Wells Fargo ATM in Opa-locka, prompting a police search for the suspect, who remains at large. Miami-Dade Crime Stoppers offers a $5,000 reward for information.

Wells Fargo analyst Elyse Greenspan maintained a Buy rating on Arthur J Gallagher & Co (AJG – Research Report) today and set a price target

The order, the seventh terminated since 2019 for the bank, related to Wells’ auto lending, mortgage and consumer deposit account services.

Analysts say the termination of a 2022 consent order with the CFPB is a sign that the bank's days under an asset cap may be numbered. But the consumer bureau, still led by Director Rohit Chopra, says Wells is still being scrutinized as a repeat offender.

In 2022, the CFPB had ordered the bank to pay $3.7 billion for ‘widespread’ problems with its auto loans, mortgages and deposit accounts.

Monday’s tech rout gives investors yet another reason to buy bank shares, according to Wells Fargo analyst Mike Mayo.