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Wells Fargo & Co (WFC.N)

WFC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Wells Fargo Asset Management Expands Multi-Asset Solutions Team
Tuesday, 29 May 2018 

May 29 (Reuters) - Wells Fargo Asset Management :WELLS FARGO ASSET MANAGEMENT EXPANDS MULTI-ASSET SOLUTIONS TEAM.WELLS FARGO ASSET MANAGEMENT SAYS EDDIE CHENG JOINED FIRM AS HEAD OF INTERNATIONAL PORTFOLIO MANAGEMENT WITHIN MULTI-ASSET SOLUTIONS TEAM.  Full Article

Wells Fargo’S Steve Ellis To Retire Digital Transformation Executive Lisa Frazier Joins Company To Lead Innovation
Tuesday, 22 May 2018 

May 22 (Reuters) - Wells Fargo & Co ::WELLS FARGO’S STEVE ELLIS TO RETIRE; DIGITAL TRANSFORMATION EXECUTIVE LISA FRAZIER JOINS COMPANY TO LEAD INNOVATION.WELLS FARGO & CO - ELLIS WILL RETIRE IN SEPTEMBER.WELLS FARGO & CO - IN SEPTEMBER, LISA FRAZIER WILL BECOME HEAD OF GROUP.WELLS FARGO & CO - FRAZIER WILL JOIN COMPANY ON MAY 29 AND WILL BE BASED IN SAN FRANCISCO.WELLS FARGO & CO - STEVE ELLIS, HEAD OF INNOVATION GROUP, WILL RETIRE.  Full Article

Wells Fargo & Co Announces 'Pay With Wells Fargo'
Thursday, 10 May 2018 

May 10 (Reuters) - Wells Fargo & Co ::WELLS FARGO & CO - ANNOUNCED 'PAY WITH WELLS FARGO'.  Full Article

Wells Fargo's 401(k) Practices Probed by Labor Department - WSJ
Thursday, 26 Apr 2018 

April 26 (Reuters) - :WELLS FARGO'S 401(K) PRACTICES PROBED BY LABOR DEPARTMENT - WSJ, CITING SOURCE.  Full Article

Wells Fargo & Sets Quarterly Dividend Of $0.39Per Share
Tuesday, 24 Apr 2018 

April 25 (Reuters) - Wells Fargo & Co ::SETS QUARTERLY DIVIDEND OF $0.39PER SHARE.  Full Article

Wells Fargo Enters Consent Orders With OCC, CFPB
Friday, 20 Apr 2018 

April 20 (Reuters) - Wells Fargo & Co ::WELLS FARGO ENTERS INTO CONSENT ORDERS WITH OCC AND CFPB.ORDERS REQUIRE COMPANY TO PAY $1 BILLION IN TOTAL CIVIL MONEY PENALTIES.WILL ADJUST ITS Q1 2018 PRELIMINARY FINANCIAL RESULTS BY AN ADDITIONAL ACCRUAL OF $800 MILLION, WHICH IS NOT TAX DEDUCTIBLE.ACCRUAL REDUCES REPORTED Q1 2018 NET INCOME BY $0.16 CENTS PER SHARE TO 96 CENTS PER DILUTED COMMON SHARE.WILL ALSO BE REQUIRED TO SUBMIT, FOR REVIEW BY ITS BOARD, PLANS DETAILING EFFORTS TO STRENGTHEN ITS COMPLIANCE & RISK MANAGEMENT.ENTERED CONSENT ORDERS WITH OCC AND CFPB THAT ADDRESS MATTERS RELATED TO CO'S COMPLIANCE RISK MANAGEMENT PROGRAM.CONSENT ORDERS ALSO ADDRESS ISSUES WITH SOME INTEREST RATE-LOCK EXTENSIONS ON HOME MORTGAGES, CPI PLACED ON CERTAIN AUTO LOANS.WILL ALSO BE REQUIRED TO SUBMIT, FOR REVIEW BY ITS BOARD, PLANS DETAILING APPROACH TO CUSTOMER REMEDIATION EFFORTS.  Full Article

U.S. regulators fine Wells Fargo $1 bln, order restitution
Friday, 20 Apr 2018 

April 20 (Reuters) - Cfpb announces settlement with wells fargo for auto-loan administration and mortgage practices:.  Full Article

Wells Fargo Announces $200 Bln Sustainable Financing Commitment
Thursday, 19 Apr 2018 

April 19 (Reuters) - Wells Fargo & Co ::WELLS FARGO ANNOUNCES $200 BILLION SUSTAINABLE FINANCING COMMITMENT.WELLS FARGO & CO - ANNOUNCED IT WILL PROVIDE $200 BILLION IN FINANCING TO SUSTAINABLE BUSINESSES AND PROJECTS BY 2030.WELLS FARGO & CO - MORE THAN 50 PERCENT OF THE $200 BILLION IN FINANCING IS FOCUSED ON CLEAN TECHNOLOGY AND RENEWABLE ENERGY TRANSACTIONS.  Full Article

Wells Fargo Preliminary Q1 EPS $1.12
Friday, 13 Apr 2018 

April 13 (Reuters) - Wells Fargo & Co ::WELLS FARGO REPORTS PRELIMINARY FIRST QUARTER 2018 NET INCOME OF $5.9 BILLION; DILUTED EPS OF $1.12.QTRLY PRELIMINARY REVENUE OF $21.9 BILLION, DOWN FROM $22.3 BILLION.QTRLY PRELIMINARY FINANCIAL RESULTS MAY NEED TO BE REVISED TO REFLECT ADDITIONAL ACCRUALS FOR CFPB/OCC MATTER.PRELIM. CET 1 RATIO (FULLY PHASED-IN) OF 12.0 PERCENT PCT AT QTR-END VS 11.9 PCT AT Q4-END.QTRLY PRELIMINARY NET INTEREST INCOME OF $12.2 BILLION, DOWN $86 MILLION, OR 1 PERCENT.QTRLY PRELIMINARY AVERAGE LOANS OF $951.0 BILLION, DOWN $12.6 BILLION, OR 1 PERCENT.Q1 EARNINGS PER SHARE VIEW $1.06, REVENUE VIEW $21.73 BILLION -- THOMSON REUTERS I/B/E/S.QTRLY PRELIMINARY NET CHARGE-OFFS OF $741 MLN, DOWN $64 MLN.QTRLY PRELIMINARY MORTGAGE BANKING INCOME WAS $934 MILLION, UP SLIGHTLY FROM $928 MILLION IN Q4 2017.QTRLY PRELIMINARY NET CHARGE-OFFS WERE 0.32 PERCENT OF AVERAGE LOANS (ANNUALIZED), DOWN FROM 0.34 PERCENT.Q FOR QUARTER ENDED MARCH 31.QTRLY PRELIMINARY RESIDENTIAL MORTGAGE LOAN ORIGINATIONS DECLINED IN Q1, DOWN TO $43 BILLION, FROM $53 BILLION IN Q4.WELLS FARGO CEO SAYS "RECOGNIZE THAT IT WILL TAKE TIME TO PUT ALL OF OUR CHALLENGES BEHIND US".PRELIMINARY QTRLY NONPERFORMING ASSETS DECREASED $388 MILLION, OR 4 PERCENT, FROM Q4 2017 TO $8.3 BILLION.QTRLY PRELIM NET INTEREST MARGIN WAS 2.84 PERCENT, FLAT COMPARED WITH Q4 2017.REMAIN ON TRACK TO ACHIEVE TARGET OF $4 BILLION IN EXPENSE REDUCTIONS BY END OF 2019.  Full Article

Wells Fargo plans to integrate corporate, investment bank - WSJ
Thursday, 5 Apr 2018 

April 5 (Reuters) - :WELLS FARGO PLANS TO INTEGRATE CORPORATE, INVESTMENT BANK; LAYOFFS MAY FOLLOW - WSJ, CITING SOURCES.WITHIN WHOLESALE DIVISION, WELLS FARGO SECURITIES TOLD STAFF OF SEVERAL DOZEN LAYOFFS IN ITS MARKETS DIVISION- WSJ, CITING SOURCES.  Full Article

Texas oil port to raise $300 million for work to handle U.S. shale export boom

June 15 Port officials on Tuesday are expected to consider $300 million in financing that would prepare the country's largest oil-export port - Corpus Christi, Texas - to handle a surge in U.S. shale production over the next five years.