UPDATE 1-Wells Fargo profit slumps 26% on legal costs [Reuters]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Reuters
UPDATE 1-Wells Fargo profit slumps 26% on legal costs - Reuters 2 Min Read (Adds details on expenses, mortgage banking, income) Oct 15 (Reuters) - Wells Fargo & Co reported a 26% slump in quarterly profit on Tuesday, as mortgage income sank and it braced for additional legal expenses tied to a sales practices scandal that erupted more than three years ago. The bank is operating under heavy regulatory scrutiny, including an unprecedented cap on its balance sheet by the Federal Reserve, as it tries to rebuild its reputation after revealing in 2016 that it had opened potentially millions of unauthorized accounts. The bank has paid billions of dollars in fines and penalties and launched a campaign to win back the faith of its customers and investors. It said on Tuesday it had set aside $1.6 billion for legal expenses related to the retail sales practices. The San Francisco-based lender last month appointed Charles Scharf, a one-time Jamie Dimon protégé known on Wall Street as a detail-ori
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WFC
Earnings
- 4/12/24 - Beat
WFC
Sec Filings
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- WFC's page on the SEC website