Wells Fargo & Company

Wells Fargo Announces Kleber Santos to Lead Consumer Banking and Lending; Saul Van Beurden to Lead AI for the Company

Wells Fargo named Kleber Santos sole CEO of Consumer Banking and Lending, ending the co-CEO arrangement with Saul Van Beurden. Van Beurden will now lead enterprise-scale AI adoption exclusively, working alongside technology head Bridget Engle and business leaders. Both executives continue reporting to Chairman and CEO Charlie Scharf and remain on the Operating Committee, signaling continuity rather than upheaval.

•3d ago

Belk Secures $1.275 Billion in New Financing from Wells Fargo and Pathlight Capital

Belk, Inc. closed $1.275 billion in new senior secured credit facilities arranged with Wells Fargo Bank and Pathlight Capital. The package pairs a $900 million five-year asset-based revolving credit facility with a $375 million FILO term loan, replacing Belk's prior ABL, FILO and securitization facilities. Wells Fargo (WFC) serves as administrative and collateral agent on both facilities; the deal is a routine agency win that is immaterial to WFC given its ~$2.3 trillion in assets.

•5d ago

Six in 10 Adult Children Report Family Conflict Brought on by Inheritance, Wells Fargo Study Finds

Wells Fargo's Wealth & Investment Management unit released its 2026 Wealth Transfer Study, finding that 61% of adult children from affluent families report negative family experiences tied to inherited wealth, versus 29% of parents. The survey of roughly 800 parents and 800 adult children found wide perception gaps: 93% of parents know how much wealth they expect to transfer, but only 54% of children say they know what they will inherit. The release is brand-marketing for Wells Fargo's wealth advisory services, which manage $2.5 trillion in client assets, with no financial results or strategic disclosures.

•5d ago

Wells Fargo Deepens AI and Data Leadership for Consumer Banking and Lending

Wells Fargo hired Cayetano Gea-Carrasco as head of AI and Data for Consumer Banking and Lending, where he will oversee AI use cases and simplify the data environment. He joins from BBVA, where he led enterprise AI transformation, and previously spent 15 years at Moody's; he will report to Saul Van Beurden and be based in San Francisco. The move signals continued investment in AI capabilities across Wells Fargo's consumer business, though it is a divisional hire with no disclosed financial impact.

•10d ago

Wells Fargo Reports Third Quarter 2026 Financial Results

Wells Fargo released its third quarter 2026 financial results, which are available on its Investor Relations webpage and in a Form 8-K filed with the SEC on Oct. 13, 2026. The release contains no financial figures itself and primarily provides dial-in details for the earnings conference call held Oct. 13 at 10:00 a.m. Eastern, with a replay available through Oct. 27. Wells Fargo is one of the largest U.S. banks with approximately $2.3 trillion in assets, so the actual results in the 8-K — not this notice — are what matter for investors.

•12d ago

Five Big Banks, Two Days, One Question: Can Record Trading Offset the Pressure From Rising Yields?

A Market Updates commentary previews third-quarter bank earnings this week, with Citigroup reporting around 8:00 a.m. ET Tuesday, October 13. The piece recaps Citigroup's second quarter: revenues of $24.8 billion up 14%, net income of $5.8 billion up 45%, and EPS of $3.15 versus $1.96 a year earlier. It frames this week's reports around rising long-term yields — the 10-year at 5.24%, highest since 2002 — which support lending margins but pressure bond holdings, with Citi's 13.0% return on tangible common equity cited as evidence of the strong prior-quarter bar.

•13d ago

Wells Fargo Brings Debit Card Personalization to the Mobile App

Wells Fargo launched Mobile Card Design Studio, letting customers personalize eligible debit cards with photos or curated designs directly in the Wells Fargo Mobile app. The release frames the feature as part of ongoing digital enhancements, alongside recent mobile expansion of ExpressSend international remittances. The announcement is a routine customer-experience update with no disclosed financial impact on the company.

•19d ago

Wells Fargo to Announce Third Quarter 2026 Earnings on Oct. 13, 2026

Wells Fargo confirmed it will report third quarter 2026 earnings results on Tuesday, Oct. 13, 2026, at approximately 7:00 a.m. Eastern time. A live conference call will be held at 10:00 a.m. ET the same day, with a webcast and replay available via the company's Investor Relations webpage. This is a scheduling notice only; results will also be posted to the SEC website when released.

•20d ago

WFC: 8-K · debt financing

Wells Fargo & Company issued $6 billion of Medium-Term Notes, Series Y on September 24, 2026, split between $2.5 billion of senior redeemable fixed-to-floating rate notes due September 24, 2030 and $3.5 billion of senior redeemable fixed-to-floating rate notes due September 24, 2037. The 2030 notes carry a 5.366% fixed rate until September 2029, then float at compounded SOFR plus 78 basis points. The 2037 notes pay 5.832% fixed until September 2036, then float at compounded SOFR plus 124 basis points. The issuance was made under the company's Form S-3 shelf registration (File No. 333-287868) under a February 2017 indenture with Citibank, N.A. as trustee, and the 8-K files the note forms and a legal opinion from Faegre Drinker Biddle & Reath LLP.

SEC 8-K•1mo ago

WFC: 8-K · leadership change

Wells Fargo & Company announced on September 23, 2026 the appointment of Scott E. Powell as its Chief Risk Officer, effective January 15, 2027. Powell currently serves as the company's Chief Operating Officer and will no longer hold that role after transitioning to Chief Risk Officer. The announcement was made via an 8-K under Item 5.02, a routine executive-officer change disclosure with no financial terms attached.

SEC 8-K•1mo ago

Wells Fargo Announces Retirement of Chief Risk Officer, Derek Flowers; Chief Operating Officer, Scott Powell, to Become Chief Risk Officer

Wells Fargo announced that Chief Risk Officer Derek Flowers will retire in mid-January after nearly three decades at the bank, including CRO service since 2022. Chief Operating Officer Scott Powell will assume the CRO role, bringing prior risk-management leadership and COO tenure since December 2019; Powell's successor as COO will be named later. The transition is a planned succession with continuity in risk and control leadership, limiting the event's strategic significance.

•1mo ago

Building Homes, Building Workforces: Inside Wells Fargo's $5M Tour Across Five States

Wells Fargo completed a five-day, five-state tour in August announcing $5 million in philanthropic investments focused on affordable housing and skilled-trades workforce development. Grants include $1.2 million in North Dakota, $1.25 million in Nebraska, $1.5 million for Habitat for Humanity (including a $1 million Rural Housing Innovation Fund), and $1 million to Wyoming Housing Network for a 24-home modular-concrete development in Casper. This is a corporate social responsibility story with no bearing on earnings, capital, or strategy; since 2019 Wells Fargo and its foundation have donated more than $2 billion to community causes.

•1mo ago

Wells Fargo Bank Increases Prime Rate to 7.00 Percent

Wells Fargo Bank, N.A. is increasing its prime rate to 7.00% from 6.75%, effective September 17, 2026 — a 25 basis point move. Prime rate changes of this kind are routine, mechanical adjustments that typically track Federal Reserve policy decisions and flow through to pricing on variable-rate loans such as credit cards and home equity lines. Wells Fargo & Company, with approximately $2.3 trillion in assets, operates through four segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.

•1mo ago

Wells Fargo to Present at the Barclays Global Financial Services Conference

Wells Fargo CFO Mike Santomassimo will present at the Barclays Global Financial Services Conference on Tuesday, September 15, 2026 at 8:15 a.m. ET. The presentation will be webcast live on Wells Fargo's investor relations events page, with a replay available for three months afterward. The release is a routine scheduling notice containing no new financial results or guidance; investors may monitor the webcast for incremental business commentary.

•1mo ago

Wells Fargo Expands Affordable Senior Housing and Financial Education With $1.2 Million in North Dakota

Wells Fargo and the Wells Fargo Foundation are committing $1.2 million to support affordable senior housing and financial education initiatives across North Dakota. The funding includes a $1 million donation to Beyond Shelter to build new homes for older adults in Minot, alongside the transfer of a former branch property to aid development. Additionally, a $200,000 grant to Junior Achievement North will expand the Finance Park Pop-Up program, providing financial literacy education to students in North Dakota and Montana.

•2mo ago

Wells Fargo Advances Affordable Housing and Workforce Development in Wyoming With $1 Million to Wyoming Housing Network

Wells Fargo announced a $1 million grant to the Wyoming Housing Network to support the Goodwill Landing Housing Innovation Project, which aims to create 24 affordable rental homes in Casper. The project utilizes construction technology developed by InOurHands and includes a workforce training component in partnership with Casper College. This grant is part of Wells Fargo's broader philanthropic efforts, bringing the company's total investment in housing affordability initiatives to over $830 million since 2019.

•2mo ago

Wells Fargo Foundation's $1 Million Grant Expands Construction Education, Scholarships and Affordable Housing Partnerships at MCC

Wells Fargo Foundation announced a total of $1.25 million in grants to Metropolitan Community College (MCC) and HomeWoven to support construction education and affordable housing in Omaha. The funding includes $1 million for MCC to improve construction education facilities and provide scholarships, alongside $250,000 for HomeWoven to build affordable homes and expand internship programs. This initiative aims to address Nebraska's shortage of skilled trades professionals, where construction accounts for 9.8% of statewide job openings, while simultaneously increasing the affordable housing stock.

•2mo ago

Wells Fargo Invests $1.5 Million With Habitat For Humanity To Scale Innovative Home Construction in Rural Communities

Wells Fargo announced a $1.5 million investment in Habitat for Humanity to support innovative, affordable housing options in rural communities, focusing on modular construction. The funds will be split with $1 million going to Habitat for Humanity International to advance housing innovation and $500,000 to the Greater Des Moines affiliate to support central Iowa communities. This initiative extends a 30-year partnership, bringing Wells Fargo's total donations to Habitat to more than $105 million since 2015.

•2mo ago

WFC: 8-K · offering registration

Wells Fargo & Company closed the sale of 1,750,000 depositary shares on August 19, 2026, each representing a 1/25th interest in a share of its new 6.55% Fixed Rate Reset Non-Cumulative Perpetual Class A Preferred Stock, Series HH, at $1,000 per depositary share for gross proceeds of $1.75 billion. Dividends are non-cumulative and payable quarterly beginning December 15, 2026 at a fixed 6.55% rate until the first reset date of September 15, 2031, after which the rate resets every five years at the five-year Treasury rate plus 2.174%. The preferred carries a $25,000 liquidation preference per share, is redeemable at Wells Fargo's option on any dividend payment date on or after September 15, 2031, and is intended to qualify as Tier 1 regulatory capital. The 8-K also reports a Certificate of Designation filed with the Delaware Secretary of State on August 17, 2026 authorizing 70,000 Series HH shares, with Wells Fargo Securities acting as underwriting representative at a $10 per depositary share discount. Because the preferred is non-convertible, the issuance creates no dilution for common shareholders and is a routine capital-management transaction for the bank.

SEC 8-K•2mo ago

Wells Fargo & Company Declares Cash Dividends on Preferred Stock

Wells Fargo & Company declared quarterly cash dividends on six series of its preferred stock. The declared dividends include $18.75 per share for Series L and varying amounts for Series Y through DD, ranging from $0.26563 to $0.35156 per depositary share. All dividends are payable on September 15, 2026, to holders of record as of the close of business on August 31, 2026.

•2mo ago

Community and Civic Leaders Celebrate Opening of Industry-Leading Affordable Housing Development in Minneapolis

Wells Fargo joined Project for Pride in Living to celebrate the opening of Opportunity Crossing, a 110-unit affordable housing development in south Minneapolis built on the site of a former branch destroyed in 2020. The bank announced a new three-year, $400,000 grant to PPL to fund a Community Opportunity Hub providing financial counseling and homeownership support at the location. The six-story development features a new Wells Fargo branch with a next-generation design and includes 13,700 square feet of commercial space designed to support local businesses.

•2mo ago

Wells Fargo Foundation Awards $500,000 To Support Jerome Learners and Expand Rural Workforce Training Opportunities

Wells Fargo Foundation awarded a $500,000 grant to the College of Southern Idaho Foundation to support workforce training at the new LeRoy Craig CSI Jerome Center. The investment is part of Wells Fargo's Rural Initiative Tour and aims to strengthen economic opportunity and educational access in rural Idaho. The funding will help expand pathways for electricians, builders, and technicians, addressing the regional need for skilled labor to support the local housing supply. Executives emphasized the goal of enabling residents to live and work within their communities. A formal presentation of the gift is scheduled for the center's ribbon-cutting ceremony on August 14.

•2mo ago

WFC: 10-Q · periodic report

Wells Fargo & Company filed its Quarterly Report on Form 10-Q for the period ended June 30, 2026. Chief Executive Officer Charles W. Scharf and Chief Financial Officer Michael P. Santomassimo certified that the report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934. The executives further attested that the information contained in the report fairly presents, in all material respects, the financial condition and results of operations of the company.

SEC 10-Q•2mo ago

Innovation Incubator Program Drives Real-World Impact in Affordable Housing and Electrical Grid Demands

Wells Fargo's Innovation Incubator (IN2) awarded $750,000 in funding to four organizations to pilot energy technologies aimed at affordable housing and grid modernization. The $56 million program, co-administered with the U.S. Department of Energy's National Laboratory of the Rockies, supports recipients like Habitat for Humanity of Greater Los Angeles and National Grid in deploying validated tech. These pilot projects focus on operational efficiency and business impact, with efforts ranging from wildfire-resilient housing to automated grid connection tools.

•3mo ago