John Stumpf News
Wells Fargo Has Strong Earnings While Citigroup Falters
Wells Fargo & Co. today reported a quarterly profit increase of 20 percent, in stark contrast to an 11 percent decline at Citigroup . This morning's announcements were as different as night and day, Raymond James analyst Anthony Polini said. Wells Fargo's earnings announcement was generally
Open Invitation to Wall St. and Protesters: Let’s Talk
There has been very little interaction or communication between the Occupy Wall Street demonstrators and the major financial players they are addressing. The gulf between the two at times appears so wide, they barely seem to speak the same language. We took note at “World News”...
'World News' Calls Nation's Top Bankers to Explain Foreclosure Crisis
The nation's foreclosure epidemic gathered steam in September, with banks taking over more than 100,000 properties for the first time. Overall, filings rose 3 percent, according to RealtyTrac, an online service that tracks foreclosure rates. This news comes the day after attorneys general of all 50
Obama Calls on Banks to Make "Extraordinary Commitment" to Rebuild the Economy
President Obama emerged from an hour-long meeting with bank executives at the White House and said his main message to the heads of the nation’s top financial firms was, “that America's banks received extraordinary assistance from American taxpayers to rebuild their industry and now that they're ...
President Obama to Give Yet Another Stern Message to Bank Execs
“He's going to have a serious talk with the bankers," National Economic Council director Larry Summers told George Stephanopoulos on This Week yesterday. "The country did incredible things for the banking industry. Those things had to be done to save the economy, but no major bank would be intact,
Did Wells Fargo Exec Party in Bank-Owned Malibu Beach House?
It sounds like an episode of "Bankers Behaving Badly." A senior Wells Fargo executive may have been living it up in a bank-owned multimillion-dollar oceanfront Malibu beach house. The house in question, the bank says, ended up in their hands in May 2009 when the former owners turned it over to
Wells Fargo Fires Exec for Partying in Foreclosed Malibu Beach House
Cheronda Guyton, a Wells Fargo senior vice president has been fired from her job following reports that she was occupying a multi-million dollar Malibu beach house the bank had foreclosed on. The bank said in a statement today that Guyton was fired after an internal investigation. Wells Fargo did
Wells Fargo increasing executives salaries
Wells Fargo said Thursday it is increasing the salaries for its top four executives, including CEO John Stumpf. Executive compensation at banks has been a hot-button topic in recent months, especially for firms like Wells Fargo that received government bailout funds last fall. Wells Fargo received
"Wall Street" - Not Michael Douglas, But Michael Moore
ABC News' Charles Herman reports: Documentary filmmaker Michael Moore has tackled a range of subjects in his films, from the auto industry to Columbine to health care . Next up? Wait for it. ... It’s Wall Street! Moore, known as...
Unapologetic CEOs: What Did the Banks Do With Your Cash?
Bank CEOs, With $125 Billion in Taxpayer Money in Hand, Testify and Defend Before Congress