Scharf, Charles W

Jamie Dimon Warns of ‘Most Dangerous Time in Decades’ as Banks Report Big Profits

JPMorgan Chase and Wells Fargo said that consumers continued to borrow and spend, but their chiefs warned that risks were intensifying.

By Rob Copeland and Stacy Cowley

Banking and Financial Institutions Company Reports Real Estate (Commercial) Scharf, Charles W Wells Fargo & Company

Wells Fargo Beats Expectations but Sets Aside Money for Loan Losses

The U.S. economy “continues to perform better than many had expected,” said Charlie Scharf, the bank’s chief executive, but “there will likely be continued economic slowing.”

By Stacy Cowley

Banking and Financial Institutions Consumer Financial Protection Bureau Fines (Penalties) Frauds and Swindling Justice Department Prisons and Prisoners Scharf, Charles W Securities and Commodities Violations Securities and Exchange Commission Sloan, Timothy J Stumpf, John G Tolstedt, Carrie L Wells Fargo & Company

Wells Fargo’s Carrie Tolstedt Pleads Guilty and Faces Prison

Carrie L. Tolstedt, who ran the bank’s retail branches, faces up to 16 months in prison for obstructing a bank examination.

By Stacy Cowley

Bank of America Corporation Banking and Financial Institutions Company Reports Credit and Debt Moynihan, Brian T Scharf, Charles W Wells Fargo & Company

Rising Interest Rates Lift Profits at Bank of America and Wells Fargo

Both banks increased their reserves as protection against deteriorating economic conditions, but signaled optimism about consumer resilience.

By Stacy Cowley

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