#banking

https://www.bizjournals.com/sanfrancisco/news/2025/10/14/layoffs-wells-fargo-job-cuts-wfc-severance-expense.html

The San Francisco-based bank has cut almost a fourth of its workforce from a peak five years ago, and the bank is still shedding staff.

No point moving to Charlotte or NYC if they ask you to move. Instead take a package/severance and bail out because you may move and then let go in 6 months. No loyalty left or value for talent. It is all about cutting cost as promised to the board by Charlie and getting his Bonus before bailing out of Wells.

Move on good teammates. This is reality. I don’t like it but it’s my only option now. Let’s focus on making good business decisions so the bank does well. We’re all in this together. Truist is poised to be the best regional bank. Leadership may need some coaching but the frontline teammates are solid. Let’s focus on the clients, they picked PURPLE for a reason - let’s commit to serving them.

Bank layoffs. Data & Analytics hit (again and again). Not sure about others.

Last exec got off without fines. New scandals will emerge.

Credit:

https://www.wsoctv.com/news/local/former-wells-fargo-exec-cleared-10m-penalty-fake-accounts-scandal/EYNGAX75E5FYPNA5CBSCWH2PZE/

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Former Wells Fargo exec cleared of $10M penalty in fake accounts scandal

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By WSOCTV.com News Staff
October 24, 2025 at 3:52 pm EDT
CHARLOTTE — A former Wells Fargo executive, once ordered to pay $10 million for her role in the bank’s fake sales accounts scandal, will now pay nothing.

ALSO READ: Wells Fargo installs new lights on Uptown building, shows special features

According to the Charlotte Observer, federal regulators have settled with Wells Fargo’s former risk officer, Claudia Russ Anderson.

The scandal involved thousands of employees opening millions of unauthorized accounts.

In total, regulators collected more than $430 million in fines from other executives.

LOB: CLT

I do not work for this company but I just closed my account after the awful service this bank keeps giving me. I also posted a very honest review on yelp. Good riddance Wells Fargo!

For everyone that has left and are happy elsewhere, where do you go to?

Work from anywhere reduced from 80 hours to 64 hours for next year. No more additional days purchased vacations. If i don't laugh, I'll cry..

someone plz tell me i read that email wrong

Without going into the discussion of how the bonus su-ks at the bank, can some knowledgeable folks tell me until what date I should be working to be eligible for the bonus — 12/31/2025 or the actual payout date in 2026?

At least for UK staff, WFA days cut from 10 to 8 and volunteering days cut from 3 to 1.

Heard all 5's will be let go in the first week of December as opposed to usual January round. True?

Have the BAH holdouts been given an ultimatum to RTO or be terminated?

They go no answers & took no questions on how EMPLOYEES WILL RE-LOCATE.
Brutal - how could they think that this is good for the Company?

I keep seeing/hearing people say they are on some list for not being in the office 8 hours. If I was on this list would I know? I never do 8 hours, not even 2. As far as I'm aware I'm not on this list, why?

The OCC's effort to hold former Wells Fargo executives accountable for the bank's fake-accounts scandal — which relied on charges brought in the administrative law system — has ended with barely a whimper.

https://www.americanbanker.com/news/occ-settles-its-last-remaining-wells-fargo-case-for-0

Has anyone here from NJ who got the boot able to get unemployment? I was let go after 27 years. I would also like to try collecting unemployment too.

Layoffs in Q3, forced 4-ratings in Q4, more layoffs in Q1. I suppose they need to find that $25 million from somewhere.
I can't wait to read Tim's next tone-deaf family saga. Maybe it will go like this. I was eating caviar in my mansion when my daughter came to me and complained that she broke her nail. I told her to cut it off. Sometimes we need to take difficult decisions, like how I trample upon people's livelihood and careers to put food on the table... for the next 20 generations of the Ryan family. SMH! their greed and selfishness knows no bounds.

Or corporate compliance in general? All the leading stakeholders (CR director, program manager, compliance specialists, fair & responsible banking leaders, etc.) have mysteriously exited the bank and now I just saw someone post that CQA is pulling out of the program too. Seems like the whole program is being redesigned as nothing more than a window dressing.

Used to do some CR reporting and thought about applying for one of their recent openings but something shady seems to be going on in the 2nd line CR team but no one is talking about it. No different than any other area I guess. Just buyin' some time until I can make my exit too, but can't take much more of my current team/manager. I'm afraid there is no greener grass to be found anywhere at this bank.

Rumor from WCIB is that we will be expected in office 4 days a week. Guess they are trying voluntary layoffs again to get people to quit.

Why is this company fixated on the number 8? From 8 is great to 8 hours in their offices, what’s the link?

Two people I know got it. Have to go to office where their manager is located.

One of the key characteristics of exempt employees is flexible hours. Employees of this bank work more or fewer than 40 hours in a week, but they get their work done. Do we have a few bad apples? Every place does. Bring it DF, we right here!!!

Is 6 too short? How about 7 or 7.5?
Will this be included in performance review?

Anyone have thoughts on whats going on with BRG lately?

Is there any bank besides WF, that gets robbed every 3-4 weeks?

Are we going to be dinged if we aren't in office 15 days this month? Can anymore enlighten me on how the reporting is? 11 days or 3 days a week??

I saw they finally leaked the entire location is closing. They should give employees time to find new jobs, most won't be able to relocate. How they treat employees is wrong

For those who were let go as a result of forced ranking and made up poor performance, did you have any issues with getting state unemployment? I believe state would ask for reason for the job loss? What would BNY say? I understand misconduct could make one not eligible. How about this performance situation?

1. What bonus percentage (as a % of your base salary) do you expect for the end-of-year payout?

0-5%
6-10%
11-15%
16-20%
More than 20%
No bonus expected
Not applicable (e.g., not eligible for bonuses)

1. What pay increase percentage do you anticipate for the next performance review cycle (e.g., 2026 base salary adjustment)?

0-2%
3-5%
6-8%
9-10%
More than 10%

Those of you who remember the 2008 banking crisis should be paying attention to the regional Banks today. Looks like history is rhyming. Zions and Western Alliance have become stressed. Since financial markets never operate in a vacuum, let's see how the major banks do. The Fed should stand aside this time.

https://www.reuters.com/business/finance/bank-america-sued-over-alleged-financial-ties-jeffrey-epstein-2025-10-15/

https://www.nydailynews.com/2025/10/15/jeffrey-epstein-victims-sue-bank-of-america-saying-it-aided-s-x-trafficking-of-teenage-girls/?lctg=24E3B4CF745EB41EC419542515&utm_email=24E3B4CF745EB41EC419542515&g2i_eui=4wUFh7eeWxH8kNFdi2TbXF10sOzDrOI%2foz3Wn%2bBD8fE%3d&g2i_source=newsletter&active=no&utm_source=listrak&utm_medium=email&utm_term=https%3a%2f%2fwww.nydailynews.com%2f2025%2f10%2f15%2fjeffrey-epstein-victims-sue-bank-of-america-saying-it-aided-s-x-trafficking-of-teenage-girls%2f&utm_campaign=trib-new_york_daily_news-breaking_news-nl&utm_content=%23Listrak%5cDateTimeStampNumeric%23

What's next?

I could see layoffs impacting edge in the near future

If Wells Fargo offered a 10/14 or 10/28 layoff (which they wouldnt), but just curious which u would take. 10/14 wouldnt offer the 401k match and 10/28 would. No judgement here, just wanted to get a feel for which u would take if given the opp.

How does the Executive Director (ED) role at Wells Fargo compare to the Band 4/Director role at Bank of America? It seems really impressive to me. Is it typical Standard role where more people have similar titles?

I got a Job offer from Wells Fargo. How does the Executive Director (ED) role at Wells Fargo compare to the Band 4/Director role at Bank of America? It seems really impressive to me.

Wells Fargo is such a different company now under Schart. Managers don’t truly care about their teams. Last minute assignments. Nitpicking. Lack of employee engagement. Worthless middle managers that don’t do anything. Huge disconnect between India employees and U.S. Employee surveys but no changes just town halls that make it look like it for optics. It’s a $hit show. I don’t really know anybody that’s truly happy at Wells Fargo, just comfortable.

I got a notification to do the code of conduct training. From memory one of the things included in this training is about treating people with respect. Am wondering if Jane directs and MDs have to take this training.