Wells Fargo has continued to produce profit gains, with a fourth quarter profit increase of 20% reported by the company.  Wells Fargo reported earnings of $4.1 billion, or $0.73 a share, for the quarter.  The results narrowly beat the $0.72 a share that analysts were forecasting.  Timothy J. Sloan, Wells Fargo’s chief financial officer, said in an interview, “The quality of earnings was really... 

Wells Fargo has announced that the company will pay $148.2 million to settle charges of rigging bidding competitions to win city and county contracts.  Federal and state regulators were investigating the actions of Wachovia Bank employees, a company that Wells Fargo acquired in 2008. The regulators claimed that Wachovia generated illicit gains of millions of dollars in fraudulently rigged municipal... 

It has been announced that technology and operations jobs will be cut at Wells Fargo before the end of the year.  Wells Fargo wants to trim around $188 million of quarterly expenses for technology and staff.  The planned layoffs come as the bank tries to eliminate more than $1.5 billion of quarterly operating expenses.  Quarterly expenses in technology and staff areas were around $2.2 billion in...