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. The bank's shares rose 3.5% to $73.

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%.

Three former Wells Fargo executives must pay $18.5 million for their role in the bank’s widespread fake sales accounts scandal that came to light nearly a decade ago.

Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." But he said executives "don't want to get ahead of ourselves."

Wells Fargo & Co. reported Wednesday that a series of recent business exits and heightened emphasis on fee revenue boosted fourth-quarter net income by 47.4% to $5.08 billion.

The fourth-quarter earnings report from Wells Fargo & Co. was overshadowed by the disclosure of three more former senior executives being fined a combined $18.5 million by the bank's federal

The stock market was having a generally strong day to start the week, with the S&P 500 up by about 0.6% as of 2:45 p.m. EST. However, the financial sector was performing significantly better, especially when it comes to the big banks. Wells Fargo ( WFC -0.61%) was a particular standout, with shares up by as much as 3% on Monday.

The bank laid out digital enhancements to its mobile app and plans to generate growth as regulatory burdens lift.

Citing concerns about going outside its statutory mandate, the Federal Reserve Board of Governors voted to leave the Network of Central Banks and Supervisors for Greening the Financial System.

Wells Fargo & Co. (NYSE: WFC), Bank of America Corp. (NYSE: BAC) and Truist Financial Corp. (NYSE: TFC) are scheduled to release their fourth-quarter 2024 earnings on Jan. 15, Jan. 16 and Jan. 17, respectively.

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Wells Fargo's profit climbed in the fourth quarter, buoyed by stronger investment banking earnings, it said on Wednesday. The company's shares rose 3.1% to $73.40 in premarket trading. Wall Street was bolstered by a rebound in activity last year.