Tag: Wells Fargo&Company

Big Banks Were the Loudest Optimists. They’re Getting Quieter.

The heads of America’s largest banks have been some of the country’s most prominent optimists over the past two years, shooing away questions about the potential effects of President Trump’s trade policies, cheering his tax cuts and offering periodic reassurances that things would all work out for the American economy. But manufacturing activity and job […]

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Wells Fargo Closed Their Accounts, but the Fees Continued to Mount

Xavier Einaudi did not want to wait for Wells Fargo to send him a check. The bank informed Mr. Einaudi that it was closing all 13 of the checking accounts it provided his roofing company, CRV Construction, for a reason it called “confidential.” The letter said the accounts would be closed on June 27, and […]

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Dear Walmart C.E.O.: You Have the Power to Curb Gun Violence. Do It.

The following is an open letter to Doug McMillon, the chief executive of Walmart. Dear Mr. McMillon, The massacre at your store in El Paso over the weekend was a tragedy. So were the shooting deaths, days earlier, of two Walmart employees, at a Walmart store in Mississippi. So, too, was the mass shooting early […]

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Foreign-Owned Banks’ Results Could Sweeten Further Under Tax Law

WASHINGTON — President Trump’s tax cuts have been very good to big banks. For foreign-owned banks, they could get even better. The cuts allowed America’s largest banks to save an estimated $16 billion collectively in taxes last year, a windfall that helped those firms reward shareholders through stock buybacks and dividend payments. The savings flowed […]

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Safe Deposit Boxes Aren’t Safe

In the early 1980s, when Philip Poniz moved to New Jersey from Colorado, he needed a well-protected place to stash his collection of rare watches. He had been gathering unusual pieces since he was a teenager in 1960s Poland, fascinated by their intricate mechanics. His hobby became his profession, and by the time of his […]

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