Wells Fargo

As dry conditions move east from North Carolina's mountains, five counties are now in an 'exceptional' drought - the highest level as determined by the U.S. Drought Monitor. State officials say exceptional drought has now spread to Graham, Macon, and Swain counties, joining them with Cherokee and Clay counties. More than 40 percent of North Carolina is now in some stage of drought, up from 30 percent last week.

Wells Fargo CEO John Stumpf To Retire

Oct 12, 2016
Mark Hames / Charlotte Observer

( Charlotte Observer ) Embattled Wells Fargo Chairman and CEO John Stumpf is stepping down from the bank he has led for nearly a decade, following intense scrutiny over a fake accounts scandal that erupted last month.

Local News Roundup

Sep 30, 2016

On the local news roundup, Charlotte continues to be in the national news following the police shooting of Keith Scott. City Council was disrupted by protestors and the poignant sight of a young girl crying over mistreatment of African-Americans by police. More heat on Wells Fargo CEO John Stumpf over the fake accounts scandal and Charlotte makes its way into this week’s presidential debate. Those stories and more with our roundtable of reporters.

House Bill 2 Repeal Stalls; Wells Fargo Under Scrutiny

Sep 20, 2016

An update on how Charlotte City Council reacts to a possible repeal of HB2 contingent on their repeal of a local ordinance. Followed by a look at what recent revelations of unscrupulous behavior at Wells Fargo may mean for big banks.

Bank of America and Wells Fargo both reported strong third-quarter profits Wednesday.

Ildar Sagdejev/Wikipedia

Banking giant Wells Fargo reported a rare decline in its first-quarter earnings from a year ago. According to Wells Fargo officials, this year’s first-quarter net earnings dropped slightly to $5.8 billion, from $5.9 billion a year ago. The decline is due in large part to the country’s continued low interest rates. Although the number of loans issued by the bank is up by 5 percent, earnings on them are down. Also, bank officials say expenses rose by 6 percent in the first quarter. Even though...

Courtesy of the the Center for Political Accountability and the Zicklin Center for Business Ethics Research

The amount of corporate money pumped into politics has surged in the four years since the U.S. Supreme Court decided the Citizens United case. A new report, released Wednesday, examines how transparent the 300 largest public companies in America are about how much they give to political groups and where that money goes. And some Charlotte area companies are ranked on the list.

Wells Fargo Diversifies To Offset Decline In Home Lending

Jul 11, 2014
Ildar Sagdejev/Wikipedia

Wells Fargo’s profits were up for the second quarter. The bank is reporting net income of $5.73 billion. WFAE’s Duncan McFadyen reports the company is trying to diversify in order to make up for a decline in its mortgage business.

Banks Get Closer To An Actual, 'Automated Teller'

Oct 9, 2013
Ben Bradford / WFAE

ATMs first appeared on street corners more than four decades ago and their basic function has remained relatively the same since. Its like a bank that never closes, a commercial for United California Bank announced in the 1980s , when ATMs were growing more common. It makes your life a little easier, because anytime, any day of the year, it takes deposits and gives you cash. But to save on cost and attract a younger, plugged-in generation of customers, banks are finding new uses for the ATM that will change how we get our money.

Duke CEO: Don't Fear The Fiscal Cliff

Dec 17, 2012
Julie Rose

The Charlotte business community gathered Monday for a diagnostic take on the U.S. economy from the city's top industries. Executives of Bank of America, Wells Fargo, Duke Energy, Nucor and Premier health care alliance offered a grim picture of slow growth and high unemployment. If the U.S. economy had a life coach, every pep-talk these days would be along the lines of "Look pal, you gotta 'Fake it 'til you make it.' Confidence breeds success. All this worry is bringing you down." "There's...

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