Wells Fargo fined over phantom customer scam

Wells Fargo (WFC) was fined on Thursday related to a regulatory enforcement action over 'widespread illegal practice' of account openings, sales targets and compensation incentives.

We could be heading for another financial crisis

Banks are networked both domestically and internationally through inter-bank borrowing and lending and derivative transactions. Problems at one bank can quickly spread, infecting other firms and the financial system

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Wells Fargo's £300m spend on London HQ is no post-Brexit bounce

The US retail banking giant has made a significant investment in the City of London, but it would have gone ahead regardless of the result of Britain's EU referendum and there's nothing to stop it from upping sticks down the line if conditions deteriorate