Wells Fargo & Co. Stock News

After a few bumpy years of both successes and setbacks, lenders might finally be firing on all cylinders.

Five groups representing banks and businesses sued the Federal Reserve on Tuesday (Dec. 24), saying its current stress testing framework is “opaque” and violates the law. The complaint was filed by the American Bankers Association (ABA), the Bank Policy Institute, the U.S.

Trade groups representing the largest U.S. banks on Tuesday filed suit in federal court to force more transparency in the U.S. Federal Reserve's bank stress tests imposed after the 2008 global financial crisis, but the Fed has already proposed some changes to the annual process.

A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular payments network Zelle.

Wells Fargo has withdrawn from a group of global banks committed to curbing greenhouse gas emissions, increasing the number of high-profile firms exiting climate initiatives amid mounting political pressure.

The Consumer Financial Protection Bureau sued Zelle operator Early Warning Services and three of its owner banks — Bank of America, J.P. Morgan Chase and Wells Fargo — alleging that they failed to protect consumers from “widespread fraud” on the peer-to-peer payment network.

Financial regulators on Friday filed a lawsuit against JPMorgan Chase, Bank of America, Wells Fargo and Zelle's parent firm, accusing the companies of failing to protect consumers from “widespread fraud” on the payments platform.

The Consumer Financial Protection Bureau on Friday sued the operator of the Zelle payments network and the three U.S. banks that dominant transactions on it. The agency alleges that the firms failed to properly investigate fraud complaints or give victims reimbursements.