Wells Fargo

Local News
4:51 pm
Fri July 11, 2014

Wells Fargo Diversifies To Offset Decline In Home Lending

Credit 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.


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Technology & Digital Life
10:04 am
Wed October 9, 2013

Banks Get Closer To An Actual, 'Automated Teller'

Bank of America's new ATM allows a virtual teller to speak with the user.
Credit Ben Bradford / WFAE

ATMs first appeared on street corners more than four decades ago and their basic function has remained relatively the same since.

“It’s 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.

WFAE's Ben Bradford reports on new ATMs and branches, and speaks with a "virtual teller."

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Business
6:06 pm
Mon December 17, 2012

Duke CEO: Don't Fear The Fiscal Cliff

Wells Fargo senior executive vice president David Carroll, Premier Inc CEO Susan DeVore and Duke Energy CEO Jim Rogers at the Charlotte Chamber Economic Outlook luncheon on December 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."

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Local News
4:49 pm
Thu December 6, 2012

Wells Fargo Banker Charged With Insider Trading

The SEC has charged a Wells Fargo investment banker with insider trading.
Credit David Paul Ohmer/flickr

The Securities and Exchange Commission has charged an investment banker at Wells Fargo with leading an $11 million insider trading ring while he worked in Charlotte.

John Femenia had access to a lot of confidential information through his job at Wells Fargo. He’s an investment banker (or at least was), and he got the scoop on several mergers because his bank helped with the financing.

That information is as good as money. Mergers often drive a company’s stock price up, so if you buy it before that happens – you're setting up for a nice profit.

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Business
12:51 am
Tue October 2, 2012

Big Banks Now Required To Improve Service On Home Loans

Bank of America

Getting a mortgage modified should be significantly easier as of today - assuming five of the nation's largest lenders deliver on promises they made in a $25 billion settlement signed six months ago.

Today is the deadline for Bank of America, Wells Fargo, JP Morgan Chase, Citigroup and Ally Financial to implement hundreds of improvements to customer service for home loans.

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Business
4:53 pm
Wed September 26, 2012

Bank Websites Under Cyber Attack

The websites of several major U.S. banks, including Wells Fargo and PNC, are under cyber attack today. Reports of trouble accessing online banking are pouring into the tracking website Sitedown.co, says founder Jeff Herdell.

"They're referred to as DDoS attacks," explains Herdell. "Hackers will take over many computers and direct floods of traffic at these bank sites in hopes that the service will be disrupted and go down temporarily. So it's more of a nuisance than anything, but it's very significant right now."

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