SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) today announced additional comprehensive steps to help customers, communities and employees grappling with the impact of COVID-19. The company has suspended residential property foreclosure sales, evictions and involuntary auto repossessions. Additionally, the Wells Fargo Foundation will increase its charitable donations to $175 million to help address food, shelter, small business and housing stability, as well as to provide help to public health organizations.

“The coronavirus is disrupting the daily lives of many people around the world, and Wells Fargo has taken — and will continue to take — the steps needed to support our customers, employees and communities during this difficult time,” said CEO Charlie Scharf. “We will continue to evaluate this fluid situation and take additional action as necessary.”

Wells Fargo is taking several other steps to meet the needs of customers,...

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company today announced that it has entered into agreements with the United States Department of Justice (DOJ) and the United States Securities and Exchange Commission (SEC) to resolve these agencies’ investigations into the Company’s historical Community Bank sales practices and related disclosures. As part of this resolution, Wells Fargo has agreed to make payments totaling $3 billion.

Charlie Scharf, chief executive officer, said: “The conduct at the core of today’s settlements — and the past culture that gave rise to it — are reprehensible and wholly inconsistent with the values on which Wells Fargo was built. Our customers, shareholders and employees deserved more from the leadership of this Company. Over the past three years, we’ve made fundamental changes to our business model, compensation programs, leadership and governance. While today’s announcement is a significant step in bringing this chapter to a...

SAN FRANCISCO--(BUSINESS WIRE)--In 2019, the Wells Fargo Foundation launched a new philanthropic strategy anchored around unlocking economic opportunity for people and communities by addressing housing affordability, small business growth and financial health. The Foundation invested $455 million in grants in the last year, funding national organizations to deliver programs at scale and nonprofits that specifically address the needs of local markets.

“Wells Fargo is on a journey to create greater community impact through its business and philanthropy,” said Bill Daley, vice chairman of Public Affairs at Wells Fargo. “Economic mobility is a critical issue, particularly for low-to-moderate income communities where people lack access to the resources necessary for a sustainable livelihood: adequate housing, stable jobs, or financial health services. In the year ahead, we will streamline our grant-making around these important areas and focus on addressing systemic...

Whether in the early stage of a relationship, just starting to get serious, or about to get married, having conversations about spending habits and financial goals will help — not hurt – a relationship, and will build a solid foundation for the future.

WASHINGTON, D.C. – The National American Indian Housing Council (NAIHC) and Wells Fargo have announced a $600,000 pilot program to carry out housing repairs for senior homeowners in tribal communities.

The grants from the Wells Fargo Foundation are one component of Wells Fargo’s five-year, $50 million philanthropic commitment to American Indian/Alaska Native communities. Wells Fargo announced its commitment at NAIHC’s Legal Symposium in December 2017 and has been working with tribal organizations to address various community development needs.

Under the NAIHC Rehab Program, tribes will be able to carry out repairs such as accessibility improvements, heating and air conditioning maintenance/installation, new roofs or plumbing improvements. In 2017, the U.S. Department of Housing and Urban Development released a report on the Housing Needs of American Indians and Alaska Natives in Tribal Areas, which found that tribal homes experience rates of...

On a cloudless November day in Santa Barbara, Calif., an excited crowd of about 40 people applauded during a ribbon cutting for a newly built house. The home, painted royal blue, had elegant finishes and built-in furniture, including a bed frame, a dining room table and a generous wooden deck.

The house itself, however, was not generous in size. In fact, it was roughly the dimensions of a school bus.

The homeowner, Sandy Blair, didn’t seem perturbed by its proportions. Dressed in a crisp blue T-shirt, Blair alternately beamed, then got choked up with emotion as she spoke. “I know it’s going to be a phenomenal home,” she said.

For Blair, an Air Force veteran, the unveiling of her tiny home was a double milestone. It’s the first of many Blair hopes to build to support female veterans who need help rejoining civilian life. This project also marked the start of an important collaboration with Operation Tiny Home, a nonprofit that provides affordable homes to...

SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) today announced the appointment of several new business leaders and changes designed to create a flatter line of business organizational structure and provide leaders with clear authority, accountability, and responsibility. The new model has five line of business CEOs, each reporting to Wells Fargo CEO Charlie Scharf and represented on the company’s Operating Committee.

“The Wells Fargo franchise has extraordinary opportunity and power, and these organizational changes enable us to more effectively pursue our goals and take advantage of the opportunities in front of us,” Scharf said. “These changes create the right structure to build our businesses over the long term and increase our ability to successfully execute on our top priority, which is the risk, regulatory, and control work. I am confident that this organizational model and our strengthened risk and control foundation will bring...