Wells Fargo paid Chief Executive Charlie Scharf $31.2 million for 2024, a more than 7% raise from a year earlier. Scharf earned a base salary of $2.5 million and a cash bonus of $7.2 million, according to a securities filing made public Thursday.

The bank’s board credited the CEO for returning $25 billion to shareholders last year and keeping a focus on risk and control infrastructure, which it called the company’s “number-one priority.”

(Reuters) - Wells Fargo's co-CEO of corporate and investment banking (CIB), Jon Weiss, has informed the bank of his intention to retire and will step down from his position effective immediately, the company said on Thursday. Weiss, who has had a two-decade-long career at Wells Fargo, served in a number of roles. He will formally retire on June 1.

Jon Weiss, who led the unit with Fernando Rivas, will step down and Rivas will become the sole CEO of the lender’s corporate and investment bank, the company said.

U.S. bank Wells Fargo & Co. (WFC) has cleared an important regulatory hurdle in its efforts to have the $1.95 trillion asset cap imposed on

The Consumer Financial Protection Bureau closed a consent order, but notes that it continues to monitor Wells Fargo closely.

The order, the seventh terminated since 2019 for the bank, related to Wells’ auto lending, mortgage and consumer deposit account services.

The notion of a co-CEO is not new. But the idea also feels like a huge waste, at least to some, who wonder why two people need that high-paying

Analysts say the termination of a 2022 consent order with the CFPB is a sign that the bank's days under an asset cap may be numbered. But the consumer bureau, still led by Director Rohit Chopra, says Wells is still being scrutinized as a repeat offender.

Wells Fargo’s automobile- and mortgage-lending practices have now satisfied the requirements of a 2022 consent order set by federal regulators, the bank said.

In 2022, the CFPB had ordered the bank to pay $3.7 billion for ‘widespread’ problems with its auto loans, mortgages and deposit accounts.

Monday’s tech rout gives investors yet another reason to buy bank shares, according to Wells Fargo analyst Mike Mayo.