Tariff Impacts to Be Realized Q3: Wells Fargo First-quarter job losses statewide undid any gains California had by the end of 2024. Though payroll losses were widespread, losses in transportation, ...

Financial analysts at Wells Fargo Securities estimated that insured losses from the Southern California wildfires could exceed $30 billion based on their latest analysis.

Wells Fargo faces potential losses of up to $3 billion on its office building loans over the next 3-4 years. The bank’s balance sheet is de-risked, with full reserves set aside for potential losses.

More than a dozen Wells Fargo employees were terminated for using keyboard activity simulation to fake working online, Bloomberg reported.

What It Means For Wells Fargo’s Future In addition to the layoffs, Wells Fargo’s fourth-quarter profit surpassed expectations, driven by cost-cutting measures.

Wells Fargo did not indicate how much space it currently is occupying in the 551K SF building but said vacating the 33-year-old tower would not involve any job reductions.

Wells Fargo faces plenty of challenges as the bank grapples with loan losses amid a weakening economy.

Higher interest rates and rising loan balances helped Wells Fargo top analysts’ expectations for the second quarter, even as it socked away more money as a buffer against bad loans. On Friday ...

But despite all of the work, the asset cap is still in place, and the bank still has many outstanding consent orders. So is Wells Fargo making progress on its ongoing regulatory work?

Wells Fargo suffered a 50% profit loss during the fourth quarter last year after a $3 billion penalty was assessed by a government agency for a six-year loan mismanagement scandal.