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Stories of Interest
- New Cyberattack Goes Global, Hits WPP, Rosneft, Maersk
- Deutsche Bank Said to Lose as Much as $60Mn Over Derivative Trade
- Dimon Says JPMorgan Headcount to Keep Rising Despite Automation
- RBS to Cut 443 Jobs In UK, Move Many of Them to India
- Deutsche Bank Bullish on London Despite Brexit
- Supreme Court Nears Finish With Big Cases, Retirement Rumors
- The Richest Person in Every State
- LPL Tabs Scott Seese, Former eBay Exec, as Chief Information Officer
- Fired Biglaw Associate Arrested for Trying to Extort Partners
- Canada's CIBC Completes $5Bn PrivateBancorp Buy
- Word ‘Women’ Literally Never Appears in U.S. Senate’s 142-Page Health-Care Bill
- Stephen Pierce, Goldman Sachs Global Head of Equity Markets, To Retire
- Al Gore 'Not Very Smart,’ But Became Filthy Rich Using Simple Investing Formula - Charlie Munger
- U.S. Regulators, Lawmakers Support Volcker Rule Revamp at Hearing
- Morgan Stanley Opts for Frankfurt as New EU Hub
- A New Risk for Goldman, Morgan Stanley in Stress Tests (subsc reqd)
- A Trump Bump for Law Firm of President’s Lawyer - Kasowitz Benson Torres
- JPMorgan, BofA, Goldman, Citi, Wells Fargo Pass Fed's Stress Test
- Blackstone Stock Still Trading at $31 - Its IPO Price From 10 Years Ago
- NJ Resident and NY-Based Global FX Club Charged with Solicitation Fraud, Misappropriation - CFTC
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NEWSLETTERS & ALERTS
Wells Fargo: Taking Its Case to the Court of Public Opinion
Two weeks ago, Wells Fargo CEO Tim Sloan told a town hall-style meeting in Orlando, FL, that the bank would launch a new advertising campaign built around the theme “Building Better Every Day.”
In today's (Tuesday, 4/4) print editions of the NYTimes and the WSJounral, Mr. Sloan expressed a big "Thank you" "to all who have stood by us as we have worked to make things right at Wells Fargo."
Tim Sloan shared the following steps taken by the bank to regain the public's trust:
- We've taken many steps to make things right for our customers.
- We've made changes to ensure we always put our customers' needs first.
- We've strengthened our ethics and risk management.
- And we've demanded greater accountability from ourselves.
In the near term, the Wells Fargo Board of Directors will issue the results of its independent investigation. That should be interesting - particularly when it can be compared to the results of federal investigations and courtroom testimony.
Which reminds us of Credit Suisse, which just this weekend published newsprint ads in at least 2 U.K. newspapers. In those ads, CEO Tidjane Thiam sought to distance the bank from Friday's reputation-busting raids on Credit Suisse offices in 5 countries.