Banking

Bank Watch

Wells Fargo agrees to class-action settlement over its sales practices

The Wells Fargo class-action settlement, which still requires court approvals, is expected to encompass anyone who claims the San Francisco-based bank opened accounts or enrolled them in products without their consent. Those customers must have been affected by the practices from a period covering January 2009 until last September, when the bank agreed to $185 million in fines with authorities.

Bank Watch

Wells Fargo plans first new ad campaign since right after sales scandal

Addressing employees at a town hall-style meeting in Orlando, Fla., Wells Fargo CEO Tim Sloan said the campaign will be built around the theme “Building Better Every Day.” It marks the San Francisco, California bank’s first new national ad push since October, when a “Commitment” campaign including TV and full-page newspaper ads was rolled out following news of its sales scandal in September.

Bank Watch

In run-up to Wells Fargo scandal, her boss warned: ‘You’re going to be working your tail off’

When Mary Mack took on the biggest job of her career last summer, she only hesitated for a moment. Mack, at the time head of Wells Fargo’s brokerage unit, was preparing to leave in 48 hours for an Alaskan vacation with her husband, when then-President Tim Sloan called to ask if she wanted to instead lead community banking at the San Francisco bank. Mack asked Sloan if it meant she’d had to reschedule or miss part of the excursion, which had been on her husband’s “bucket list.”

Bank Watch

This has been the fastest category of hiring for U.S. Bank in Charlotte, exec says

U.S. Bancorp has been expanding its employment in Charlotte since entering the market 12 years ago, but in recent years a handful of areas have mostly driven that growth, a top executive told the Observer Thursday. The Minneapolis-based company, better known as U.S. Bank, now counts about 620 employees in Charlotte across a range of operations, including wholesale banking, corporate trust and commercial real estate.