Wells Fargo Co Stock Price, News & Analysis

Wells Fargo (NYSE: WFC) announced the termination of the Office of the Comptroller of the Currency's (OCC) 2021 consent order regarding loss mitigation practices in its Home Lending business. This marks the eleventh consent order closure by Wells Fargo's regulators since 2019.

CEO Charlie Scharf highlighted that the three-and-a-half-year resolution timeframe represents a significant improvement compared to historical orders, such as two Federal Reserve orders from 2011 that were terminated earlier this year. The company has closed five consent orders since the beginning of 2025 and expressed confidence in completing the work required for remaining consent orders.

Wells Fargo (WFC) and Overland Advantage have announced a significant financing arrangement for MaxiTransfers, a money service business focused on US-LATAM corridors. The deal includes a $74.0 million second lien credit facility arranged by Overland Advantage and a $90.0 million revolving credit facility led by Wells Fargo.

The recapitalization transaction supports MaxiTransfers, a Housatonic Partners portfolio company serving the Latin American community in the U.S. since the early 2000s. The financing structure combines Wells Fargo's banking expertise with Overland's private credit solutions, demonstrating a strategic partnership between Centerbridge Partners and Wells Fargo.

Wells Fargo (WFC) has partnered with Operation HOPE's Project Restore HOPE Los Angeles initiative to provide financial disaster recovery support for residents and businesses affected by recent LA wildfires. The bank has activated five dedicated pop-up branch locations in the Los Angeles area as part of this five-year relief effort.

The initiative extends Wells Fargo's existing HOPE Inside program, offering no-cost financial services including:

• FEMA application assistance
• Small business and SBA loan support
• Insurance claims assistance
• Mortgage payment management
• Financial counseling and disaster recovery budgeting

The partnership leverages Wells Fargo's 30-year relationship with Operation HOPE to provide immediate and long-term financial relief services through specially trained coaches at designated branches in La Canada, Montrose, and Pasadena areas.

Wells Fargo's second annual Money Study reveals that 76% of Americans are cutting back on spending, up from 67% last year, with even higher percentages among Gen Z (82%) and Millennials (79%). About 60% of Americans report making tough financial choices, with 55% delaying life plans - primarily travel (74%), home renovations (39%), relocation (30%), and buying homes (30%).

The study found that 90% of consumers experience "sticker shock" with prices between 55% and 200% higher than expected for common purchases. Despite financial challenges, 86% of Americans have clear financial goals and want to align money choices with their values.

Interestingly, while 87% of Americans say they don't judge others' financial circumstances, 56% keep their own finances secret, and 53% feel stress about others knowing their financial situation. Many respondents (47%) admit feeling envious of others' wealth.

Americans increasingly seek financial advice (36%, up from 24% last year), with higher percentages among teens (54%), Gen Z adults (61%), and Millennials (46%). Overall, 83% want to learn new ways of thinking about and handling money.

Wells Fargo (NYSE: WFC) has announced dividend declarations for six series of preferred stock, all payable on March 17, 2025, to holders of record as of February 28, 2025. The dividends include:

- Series L: $18.75 per share (7.50% noncumulative perpetual convertible)
- Series Y: $351.56 per share (5.625% noncumulative perpetual), equal to $0.35156 per depositary share
- Series Z: $296.88 per share (4.75% noncumulative perpetual), equal to $0.29688 per depositary share
- Series AA: $293.75 per share (4.70% noncumulative perpetual), equal to $0.29375 per depositary share
- Series CC: $273.44 per share (4.375% noncumulative perpetual), equal to $0.27344 per depositary share
- Series DD: $265.63 per share (4.25% noncumulative perpetual), equal to $0.26563 per depositary share

Wells Fargo (NYSE: WFC) announced the termination of its 2018 Office of the Comptroller of the Currency (OCC) consent order related to the company's compliance risk management program. This marks the tenth consent order closed by Wells Fargo's regulators since 2019.

CEO Charlie Scharf highlighted this as a significant achievement, noting that three other consent orders were terminated in the last three weeks, including the OCC's 2016 sales practices consent order. The CEO emphasized that Wells Fargo has undergone substantial transformation under the new management team and remains committed to completing work required under remaining consent orders while building a respected financial institution.

Wells Fargo has launched a new commercial banking platform powered by Q2 Holdings (NYSE: QTWO) to enhance banker efficiency and client service capabilities. The implementation aims to improve collaboration across commercial banking teams and provide real-time insights for better customer service.

Q2's solution, which is already utilized by over 30,000 bankers across 140 leading financial institutions, including more than half of North America's 15 largest banks, features Andi®, a virtual insights analyst that combines technology, data, and insights to support bankers. The platform analyzes millions of relationships annually to help financial institutions optimize their commercial banking operations.

Overland Advantage and Wells Fargo have announced a significant financing arrangement for FFF Enterprises, a leading specialty drug distributor. The deal includes a $215.0 million credit facility arranged by Overland, alongside a $904.0 million Wells Fargo-agented asset-based loan.

The financing aims to support FFF's growth initiatives, including expanding product offerings and specialty distribution capabilities into new markets. FFF, a founder-owned company established in 1988, has been recognized as the nation's most trusted specialty drug distributor and diversified healthcare company.

The partnership leverages Overland's strategic relationship between Centerbridge Partners and Wells Fargo, providing FFF with access to private credit solutions alongside Wells Fargo's comprehensive financial services, including treasury management and investment banking.

Wells Fargo (NYSE: WFC) announced the termination of two longstanding Federal Reserve consent orders from 2011, one concerning legacy mortgage servicing activities and another regarding the legacy Wells Fargo Financial business. CEO Charlie Scharf highlighted this development, along with last week's termination of the CFPB's 2022 consent order, as significant progress in resolving historical matters.

Since 2019, Wells Fargo has successfully closed nine consent orders, demonstrating the company's commitment to establishing improved processes and controls to meet regulatory expectations. Scharf emphasized that Wells Fargo is now a different company and expressed confidence in completing the work required for remaining consent orders.