The Wells Fargo CEO said the incoming administration signaled a "more business-friendly approach to policies and regulations."

Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year, sending shares up 6%.

Wells Fargo & Co. took a $647 million severance charge in the fourth quarter, as Chief Executive Officer Charlie Scharf continues to whittle headcount as part of broader efforts to slash costs and remake the bank.

The trio had been previously charged by the OCC in 2020, alongside other former senior leadership of the bank, but had opted not to settle.

Paul McLinko served as the bank’s executive audit director during its 2016 fake-accounts scandal. He called the penalty “arbitrary, capricious, an abuse of discretion, and otherwise not in accordance with law.

The Office of the Comptroller of the Currency banned the bank’s former community bank group risk officer for life, among other penalties handed down Tuesday.

Wells Fargo reported earnings per share of $1.43 for the fourth quarter, beating Wall Street’s consensus estimate of $1.35. A year earlier, the bank reported profit of 86 cents a share. Net interest income,

: The suspect has been identified as Nickoles J. Deherrea, 39, of Iowa City.Deherrea now faces charges for first degree robbery.ORIGINAL:An alleged armed

Wells Fargo's quarterly earnings call included discussion of what the eventual lifting of the Fed-imposed asset cap would mean for the bank's growth strategy.

Elyse Greenspan, Wells Fargo Securities managing director, joins 'Fast Money' to talk the mounting cost of the California wildfires for insurers.

The San Francisco stalwart, which traces its roots to the California Gold Rush, beat Wall Street's earnings expectations in its Jan. 15 fourth-quarter report. And Chief Executive Charlie Scharf told analysts that "our solid performance this quarter caps a year of significant progress for Wells Fargo across multiple areas.”