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.

Learn about Wells Fargo & Company's strong Q4 earnings, 2025 guidance, and stock performance, with insights on selling covered calls. Click for this WFC update.

: 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

Although he has climbed Wells Fargo’s ranks since 1992, according to his LinkedIn, the note marks the ten-year anniversary of Wells Fargo Investment Institute, an investment advisor and subsidiary of the bank—and Cronk has been its president since its inception.

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,

Warren Buffett and his team at Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) have long dabbled in bank stocks, owning almost every major Wall Street bank at one time or another over the past several decades.

When the Federal Reserve started raising its benchmark rates in 2022, banks kept paying very little on sweep accounts. That allowed them to increase profits, since they were able to raise the interest rates they charged on loans to keep pace with the Fed’s hikes.