Wells Fargo CEO Tim Sloan’s compensation is rising more than 5 percent to $18.4 million for his work last year, the San Francisco-based bank disclosed on Wednesday, one day after a tense congressional hearing.
Wells Fargo CEO Tim Sloan testified Tuesday before a skeptical congressional panel about a string of consumer abuses at the fourth-largest U.S. bank, including a sales scandal over unauthorized accounts.
Rick Siskey Ponzi scheme victims will receive about 90 percent of their investments under a settlement approved by the Securities and Exchange Commission. The Charlotte NC businessman took his own life in 2016.
Novant Health said a group of 40 Charlotte doctors leaving the Winston-Salem hospital system to join Holston Medical Group of Tennessee will not continue to practice in Novant facilities once they break away.
A proposed $66 billion merger between BB&T and SunTrust Banks, which would put a new bank headquarters in Charlotte, NC, still needs approvals from the Federal Reserve and other regulators before it can close.
BB&T and SunTrust Banks are merging into a new bank that will be based in Charlotte, NC, a move that reserve’s the city’s trend of losing bank headquarters. It will be the sixth largest U.S. bank by deposits.
Bank of America and Wells Fargo remain the biggest banks in Charlotte, NC, where they employ thousands of people and continue to fill jobs. But these days the two financial companies are on different footing.
San Francisco bank Wells Fargo, which has its largest employment hub in Charlotte,unveiled a new marketing campaign “This is Wells Fargo” as part of its efforts to rebuild trust following a 2016 sales scandal and other missteps.
Sen. Elizabeth Warren criticized Wells Fargo to four North Carolina universities for “exorbitant” fees the San Francisco bank was founded charging college students by the Consumer Financial Protection Bureau.
Movement Mortgage said it will acquire Eagle Home Mortgage, part of Lennar Corporation, the first acquisition by the Indian Land, S.C., company. Movement plans to buy the retail mortgage operations of Eagle.
Wells Fargo has laid off hundreds of U.S. employees during the past year as the bank has pushed jobs overseas, according to an Observer analysis of Department of Labor Trade Adjustment Assistance documents.