ADVFN - Advanced Financial Network.
HOME» NYSE » W » WFC Stock Price » WFC Stock News

Wells Fargo Share News

 Wells Fargo & Co. (new) Stock Price
WFC Stock Price
 Wells Fargo & Co. (new) Stock Chart
WFC Stock Chart
 Wells Fargo & Co. (new) Stock News
WFC Stock News
 Wells Fargo & Co. (new) Company Information
WFC Company Information
 Wells Fargo & Co. (new) Stock Trades
WFC Stock Trades

CORRECT(5/9): Wells Fargo Defends Employee Firings After Background Checks

("Wells Fargo Defends Employee Firings After Background Checks," published May 9 at 19:34, misstated the number of shoplifting arrests on an employee's criminal record in the second paragraph. The correct version follows:) DOW JONES NEWSWIRES Wells Fargo & Co. (WFC) defended its decision to fire some employees who were convicted of petty crimes long ago, saying the law requires it. The bank responded after news reports spotlighted the company for firing some employees convicted of crimes in their youth. One 58-year-old customer service worker was given a pink slip after Wells Fargo discovered two shoplifting arrests from 1972, according to an article in the Milwaukee Journal Sentinel. Wells Fargo has been taking fingerprints from new and existing employees and checking their backgrounds against the Federal Bureau of Investigation's database. Spokesman Jason Menke said the bank's hands were tied by stricter federal rules that ban financial institutions from employing people with a record of a crime that involves dishonesty or breach of trust. "There have been a number of changes in the federal regulatory environment in the past two years ... and unfortunately some team members have been affected," Menke said. "We recognize this is difficult for everyone involved." Section 19 of the Federal Deposit Insurance Act prohibits insured institutions from hiring or employing anyone with a known criminal record involving crimes like stealing, regardless of when the incidents occurred. The requirement extends to convictions of people who agreed to a pretrial diversion of prosecution for such an offense, even if those charges are dismissed. Violating the requirement could cost the bank up to $1 million a day, Wells Fargo said. Shares were recently off 6 cents at $32.57 after hours. The stock has climbed 18% so far this year. -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

Stock News for Wells Fargo (WFC)
DateTimeHeadline
03/27/201516:51:32Current Report Filing (8-k)
03/27/201516:05:00Wells Fargo Advantage Closed-End Funds Declare Monthly Dividends
03/27/201512:30:00Wells Fargo Appoints New Head of Corporate Development
03/27/201512:17:10Amended Statement of Changes in Beneficial Ownership (4/a)
03/26/201521:29:05Building A Better (Balanced) Dividend Growth Portfolio
03/26/201521:09:30Portfolio Changes For The First Quarter Of 2015
03/26/201516:48:01Current Report Filing (8-k)
03/26/201515:35:19Current Report Filing (8-k)
03/26/201514:28:491 Stock You Can Leave for Your Great-Grandkids
03/26/201513:18:16Help Wanted: Brokerage Branch Managers
03/26/201512:01:021 Stock You Can Leave for Your Great Grandkids
03/25/201515:44:42Wells Fargo Corporate-Banking Head Mike Johnson to Retire
03/25/201513:10:02Read This Before You Buy Bank of America
03/25/201510:14:15Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
03/25/201508:00:00Wells Fargo Publishes 2014 CSR Progress Report
03/25/201504:30:00Mark Ryan Appointed to Wells Fargo Bank International Board of...
03/24/201510:37:29Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
03/23/201518:36:35U.S. Regulators Fault 3 Foreign Banks Over 'Living Wills'--Update
03/23/201518:01:59What's Good For Citigroup Is Fantastic For Real Estate Too
03/23/201510:11:00Wells Fargo Names Howard Cohen As Commercial Banking Advisor

Wells Fargo and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad