John Stumpf news stories on Newser

Protesters Crash Wells Fargo Meeting

Rob Quinn — Wed, 25 Apr 2012 02:59:52 CDT

Some 15 shareholders were arrested for disrupting Wells Fargo's annual shareholder meeting in San Francisco yesterday. The protesters—allowed in because they own Wells Fargo shares—were ejected after shouting over CEO John Stumpf's presentation about the bank's $15.9 billion profit in 2011, reports the San Francisco Chronicle . Hundreds...

Fed Hits Wells Fargo With Record $85M Fine

Rob Quinn — Thu, 21 Jul 2011 03:31:50 CDT

Wells Fargo has agreed to cough up $85 million to settle allegations that it steered borrowers with good credit towards expensive subprime mortgages and falsified information on borrowers' income on loan documents. The Federal Reserve says the fine, the first levied in relation to the predatory big-bank practices blamed for...

Wall St.'s Top Bonuses Go to No-Names

Kevin Spak — Thu, 11 Feb 2010 07:40:01 CST

In the public imagination, Goldman Sachs gives the biggest bonuses around, but this year CEO Lloyd Blankfein’s $9.6 million payday doesn’t even crack the top 10 in the financial industry. Instead, the top spot is occupied by decidedly less famous Wells Fargo CEO John Stumpf, who pulled in $18....

Bank CEOs' Obama Meeting Spurs Talk of Togetherness

Harry Kimball — Fri, 27 Mar 2009 14:40:10 CDT

CEOs of the nation’s largest banks today assured President Obama they understand their institutions are vital to economic recovery and pledged to do all they can to help the government, Bloomberg reports. Following today’s White House meeting, Wells Fargo’s CEO said “the basic message” of the powwow “is we’re all...

CEO Passes Reins at Wells Fargo

Peter Fearon — Thu, 28 Jun 2007 06:01:03 CDT

Dick Kovacevich, the CEO of Wells Fargo, stepped down yesterday after an enviable run at the helm of the country's fifth-largest bank. His successor will be COO John Stumpf. At a time when most financial institutions are seeking global acquisitions, the San Francisco-based bank has outperformed larger rivals while shunning...