2016 has not been kind to the nation’s largest banks, and Wells Fargo is no exception. Its recent performance was weighed down by troubles in the energy sector, as the bank has billions of outstanding loans out to oil and gas companies that are struggling to repay. It’s wealth management division will also now have to contend with the much-feared fiduciary rule, which will upend the way banks like Wells Fargo dispense financial advice. That said, the long term outlook for the bank is strong, as it surpassed Citigroup this year to become the third largest bank in America by assets, while it is nearly unrivaled in its focus on its main street customers who give the bank more than a trillion dollars in low cost deposits.
News about Wells Fargo
A new poll says they're not expecting one anytime soon
It was the worst day for banks since Brexit
For years the company has grappled with tapping the mass affluent segment without diluting its brand
Timothy Sloan took over after his predecessor John Stumpf resigned in light of the accounts scandal.
Study finds Wells Fargo conduct part of a wider pattern of discrimination on Wall Street.
Videos about Wells Fargo
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