Wells Fargo CEO Says Fed Asset Cap Will Cause Pain, Eventually
Wells Fargo & Co. CEO Charlie Scharf said Fed Reserve’s asset cap isn’t doing much to limit his bank’s activities at the moment but will in future.
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Mercer Finalizes Agreement to Acquire Vanguard Group's (OCIO) Division
Vanguard's Institutional Advisory Services under Mercer's wing, expands their footprint in the U.S. institutional investment market.
Wells Fargo CEO Expects Severance Expenses to Exceed $750 Million
Wells Fargo CEO Charlie Scharf told investors he expects to book higher-than-anticipated severance expenses between $750M to less than $1B.
Vanguard Announced Phase Out of its Automated Financial Advice Program
The program, known as Invest for AmEx by Vanguard, stopped enrolling new clients as of Nov. 15 and slated for complete discontinuation by February 29.
Prominent Swiss Bank, Banque Pictet, Conceals $5.6 billion From U.S. IRS
In a sophisticated scheme, Banque Pictet, concealed over $5.6 billion in assets from the United States Internal Revenue Service.
Lax Oversight Leads to Hefty Levied Settlement Against TD Private Client Wealth
Oversight led to approximately 3.5 million employee messages not being reviewed as required.
Wells Fargo Accused of Not Paying Overtime at Shortstaffed US Branches
A Wells Fargo & Co employee filed a lawsuit on accusing the bank of depriving hundreds of its U.S. branch workers of overtime pay.
