Wells Fargo plans to close 900 branches despite $3.4bn tax boost

(Courtesy of Jacksonville Business News) Wells Fargo operates about 5,860 branches across the country. Wells Fargo plans to close about 900 branches as part of efforts to cut costs in the wake of its mis-selling scandal even though the bank’s profits received an immediate $3.4bn boost from the US corporate tax cut. Executives at the … Continue reading Wells Fargo plans to close 900 branches despite $3.4bn tax boost

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Wells Fargo makes sweeping changes to its board

(Courtesy of Jacksonville Business Journal)  Wells Fargo said Tuesday that the bank has taken what it calls “board refreshment actions” as it struggles to right the ship from a series of scandals that have damaged its once-sterling reputation as Main Street’s bank. The San Francisco-based bank said that board vice chairman Betsy Duke will succeed … Continue reading Wells Fargo makes sweeping changes to its board