Four days after last scanning in for work, a 60-year-old office worker in Arizona was found dead in a cubicle at her workplace, having never left the building during that time, authorities said.

Arizona worker's body found in Wells Fargo office cubicle

Trigger warning: Some readers may find the details of this report disturbing. Discretion is advised. A Wells Fargo worker in Arizona, United States (US) clocked in for work on August 16.

Trigger warning: Some readers may find the details of this report disturbing. Discretion is advised. A Wells Fargo worker in Arizona, United States (US) clocked in for work on August 16. Four days later, she was found dead in her cubicle. According to media reports on Thursday (Aug 29), the victim was identified as 60-year-old Denise Prudhomme. An investigation has been launched into the incident. Citing authorities, a report by NBC News on Thursday said that Prudhomme clocked in at work at 7 am on August 16, which was a Friday, and there was no further scan in or out of the Wells Fargo office in Tempe, Arizona. Police officials said that they responded to the office on August 20 after on-site security called about an employee they believed to be dead. Prudhomme was pronounced dead at 4.55 pm local time. Cause of death pending determination The NBC News report said that the cause of Prudhomme's death was pending determination by the Maricopa County medical examiner. According to the police, preliminary investigation showed no obvious signs of foul play. Also read | US man sings 'I love you' as cops arrest him for decapitating his parents It is not yet known how the 60-year-old woman had gone unnoticed for so long. In a statement, Wells Fargo said on Thursday that it was saddened by Prudhomme's loss. "Our thoughts are with her family and loved ones, and we are in contact to ensure they are well supported during this difficult time." The company added that it was committed to the safety and wellness of its workforce, and was reviewing its internal procedures after this event. Prudhomme's fellow employees were told of her death after the company notified her family, the company further said. Victim worked in cubicle away from main aisle Citing its affiliate, the NBC News report said that Prudhomme worked in a cubicle on the third floor of the office, away from the main aisle. An employee, who chose to remain anonymous, said that a colleague found the 60-year-old woman at her desk while walking around the building. Several people at the office smelled a foul odour but believed it to be faulty plumbing. Wells Fargo, meanwhile, confirmed that Prudhomme sat in an underpopulated area of the building. (With inputs from agencies)

Wells Fargo worker clocked in for work on Aug 16, she was found dead four days later

Over a dozen employees of the US bank Wells Fargo were let go for allegedly "simulating keyboard activity," presumably to trick their employer into believing they were at work.

Over a dozen employees of the US bank Wells Fargo were let go for allegedly "simulating keyboard activity," presumably to trick their employer into believing they were at work. A filing with the Financial Industry Regulatory Authority said that the workers were "discharged after review of allegations involving simulation of keyboard activity creating impression of active work." According to Bloomberg, the document does not specify whether the employees in the issue used personal or workplace computers. As evidenced by the fact that many of its corporate jobs allow employees to "work from home on some days and at the office on others," Wells Fargo supports flexible work arrangements. “Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour," a company spokesperson stated. Mouse movers, often called mouse jigglers, are devices or software that mimic computer mouse motion. They can be found on Amazon, and many of them make the promise that they are "undetectable." The devices function by positioning the mouse on a rotating platform or disc that mimics normal movement, while the software executes a program that moves a mouse around. This feature was designed to prevent computers from going into sleep mode. Also read: Major left-wing parties in France form 'Popular Front' to challenge Macron in snap polls According to WFH Research, which surveyed 20- to 64-year-olds, found work-from-home days accounted for slightly more than a quarter of paid working days in the US last month. The pre-Covid percentage was 5%. Major banks are among the firms that have taken a strong stance on working from home. While Goldman Sachs stated in a note to workers last year that it encouraged employees to "work in the office five days a week," Bank of America threatened to take disciplinary action against staff members who did not show up for work in the office. The Covid pandemic raised concerns about workplace surveillance and led to a global upsurge in work-from-home directives. Microsoft issued an apology in 2020 for employing software that identified specific people and calculated their "productivity score" based on the number of emails they wrote and meetings they attended. (With inputs from agencies)

US bank Wells Fargo fires over dozen employees for allegedly faking work activity

Wells Fargo &amp; Co finds itself entangled in legal woes as an employee filed a lawsuit on Thursday, accusing the bank of denying overtime pay to hundreds of its U.S. branch workers. <o:p></o:p>

According to Reuters, the proposed class action, filed in a San Francisco federal court, alleges that Wells Fargo misclassified "senior premier bankers" as exempt from overtime pay, a classification the lawsuit claims is improper under federal and state laws. <o:p></o:p>

These bankers, responsible for customer service and generating referrals to financial advisers, often work unpaid overtime due to persistent understaffing in Wells Fargo branches, according to the lawsuit. Sabrina Perez, an advocate for unionising and a Wells Fargo employee in Albuquerque, New Mexico, initiated the lawsuit.<o:p></o:p>

Michael Scimone, a lawyer representing Sabrina Perez, criticised Wells Fargo's classification practices. "Companies like Wells Fargo should know better than to withhold overtime pay from workers like Ms. Perez," Reuters quoted him as saying. <o:p></o:p>

The lawsuit seeks unspecified damages, penalties, and legal costs, and Perez's legal team suggests that the proposed class could encompass hundreds of senior premier bankers across the U.S. Wells Fargo, currently facing an unprecedented campaign to unionise its workforce, has not yet responded to the allegations. <o:p></o:p>

This legal challenge adds to the bank's recent struggles and controversies, including the push for union elections in Albuquerque and Alaska, marking the first such efforts within Wells Fargo in decades.<o:p></o:p>

The lawsuit sheds light on the broader issue of overtime pay and worker rights at Wells Fargo, where understaffing has allegedly led to senior premier bankers working unpaid overtime hours. The legal action coincides with the recent move by workers in Albuquerque, spearheaded by Sabrina Perez, to file a petition for a union election—a rare occurrence for Wells Fargo and a significant development in the broader context of unionisation within the U.S. financial industry. <o:p></o:p>

The campaign for unionisation aims to address workers' concerns and negotiate better working conditions. While Wells Fargo emphasises recent investments in employee support, including improvements to pay and benefits, the mounting legal and unionisation challenges indicate ongoing tensions between the bank and its workforce.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

<o:p>&nbsp;</o:p>

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Wells Fargo & Co finds itself entangled in legal woes as an employee filed a lawsuit on Thursday, accusing the bank of denying overtime pay to hundreds of its U.

Wells Fargo & Co finds itself entangled in legal woes as an employee filed a lawsuit on Thursday, accusing the bank of denying overtime pay to hundreds of its U.S. branch workers. According to Reuters, the proposed class action, filed in a San Francisco federal court, alleges that Wells Fargo misclassified "senior premier bankers" as exempt from overtime pay, a classification the lawsuit claims is improper under federal and state laws. These bankers, responsible for customer service and generating referrals to financial advisers, often work unpaid overtime due to persistent understaffing in Wells Fargo branches, according to the lawsuit. Sabrina Perez, an advocate for unionising and a Wells Fargo employee in Albuquerque, New Mexico, initiated the lawsuit. Michael Scimone, a lawyer representing Sabrina Perez, criticised Wells Fargo's classification practices. "Companies like Wells Fargo should know better than to withhold overtime pay from workers like Ms. Perez," Reuters quoted him as saying. The lawsuit seeks unspecified damages, penalties, and legal costs, and Perez's legal team suggests that the proposed class could encompass hundreds of senior premier bankers across the U.S. Wells Fargo, currently facing an unprecedented campaign to unionise its workforce, has not yet responded to the allegations. This legal challenge adds to the bank's recent struggles and controversies, including the push for union elections in Albuquerque and Alaska, marking the first such efforts within Wells Fargo in decades. The lawsuit sheds light on the broader issue of overtime pay and worker rights at Wells Fargo, where understaffing has allegedly led to senior premier bankers working unpaid overtime hours. The legal action coincides with the recent move by workers in Albuquerque, spearheaded by Sabrina Perez, to file a petition for a union election—a rare occurrence for Wells Fargo and a significant development in the broader context of unionisation within the U.S. financial industry. The campaign for unionisation aims to address workers' concerns and negotiate better working conditions. While Wells Fargo emphasises recent investments in employee support, including improvements to pay and benefits, the mounting legal and unionisation challenges indicate ongoing tensions between the bank and its workforce. (With inputs from Reuters) WATCH WION LIVE HERE

Wells Fargo faces lawsuit over alleged overtime violations amid unionisation push

Wells Fargo will pay $1 billion to settle a lawsuit which accused it of defrauding shareholders. The exercise involved the San Francisco-headquartered bank reportedly defrauding shareholders&nbsp;about its progress in recovering from a series of scandals over its treatment of customers.

The settlement would be an all-cash one, according to a preliminary approval granted by the US district judge&nbsp;Gregory Woods in Manhattan federal court.

The final approval's hearing has been scheduled for September 8.

Wells Fargo has operated since 2018 under consent orders from the Federal Reserve and two other financial regulators requiring that it improve governance and oversight.

Wells Fargo is the fourth largest US bank. It is also subject to an asset cap by the Feds. This asset cap limits its growth and furthermore, depletes its ability to compete with its competitors such as JPMorgan, Bank of America Corp and CItigroup Inc.

<h2>Wells Fargo overstated its compliance-related developments: Shareholders</h2>

Shareholders accused Wells Fargo of overstating how well it was complying with Feds' orders. They further stated that&nbsp;the bank's market value fell by more than $54 billion over two years ending in March 2020 as the shortcomings became known.

The San Francisco-based bank denied wrongdoing, and settled to eliminate the burden and cost of litigation, court papers show.

ALSO READ |&nbsp;<a href="https://www.wionews.com/economy/wells-fargo-ordered-to-pay-37-billion-fine-for-consumer-loan-violations-largest-ever-penalty-against-a-bank-544943">Wells Fargo ordered to pay $3.7 billion fine for consumer loan violations, largest ever penalty against a bank</a>

"While we disagree with the allegations in this case, we are pleased to have resolved this matter," Wells Fargo said in a statement.

Lawyers for the plaintiffs may seek up to 19&nbsp;&nbsp;per cent of the settlement fund for legal fees.

Wells Fargo has since 2016 paid or set aside several billion dollars to resolve regulatory probes and litigation over its business practices.

ALSO WATCH |&nbsp;World Business Watch: U.S. banks get ready for profit crunch

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These practices included opening about 3.5 million accounts without customer permission, and charging hundreds of thousands of borrowers for auto insurance they did not need.

Chief Executive Charlie Scharf has said repairing the 171-year-old bank founded by Henry Wells and William Fargo has taken longer than he expected when he took over in 2019.

"When I arrived, we did not have the culture, effective processes, or appropriate management oversight in place to remediate weaknesses on a timely basis," he said in his March 3 letter to shareholders. "Today, we approach these issues differently."

(With inputs from agencies)

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Wells Fargo will pay $1 billion to settle a lawsuit which accused it of defrauding shareholders. The exercise involved the San Francisco-headquartered bank reportedly defrauding shareholders about its progress in recovering from a series of scandals over its treatment of customers.

Wells Fargo will pay $1 billion to settle a lawsuit which accused it of defrauding shareholders. The exercise involved the San Francisco-headquartered bank reportedly defrauding shareholders about its progress in recovering from a series of scandals over its treatment of customers. The settlement would be an all-cash one, according to a preliminary approval granted by the US district judge Gregory Woods in Manhattan federal court. The final approval's hearing has been scheduled for September 8. Wells Fargo has operated since 2018 under consent orders from the Federal Reserve and two other financial regulators requiring that it improve governance and oversight. Wells Fargo is the fourth largest US bank. It is also subject to an asset cap by the Feds. This asset cap limits its growth and furthermore, depletes its ability to compete with its competitors such as JPMorgan, Bank of America Corp and CItigroup Inc. Wells Fargo overstated its compliance-related developments: Shareholders Shareholders accused Wells Fargo of overstating how well it was complying with Feds' orders. They further stated that the bank's market value fell by more than $54 billion over two years ending in March 2020 as the shortcomings became known. The San Francisco-based bank denied wrongdoing, and settled to eliminate the burden and cost of litigation, court papers show. ALSO READ | Wells Fargo ordered to pay $3.7 billion fine for consumer loan violations, largest ever penalty against a bank "While we disagree with the allegations in this case, we are pleased to have resolved this matter," Wells Fargo said in a statement. Lawyers for the plaintiffs may seek up to 19 per cent of the settlement fund for legal fees. Wells Fargo has since 2016 paid or set aside several billion dollars to resolve regulatory probes and litigation over its business practices. ALSO WATCH | World Business Watch: U.S. banks get ready for profit crunch × These practices included opening about 3.5 million accounts without customer permission, and charging hundreds of thousands of borrowers for auto insurance they did not need. Chief Executive Charlie Scharf has said repairing the 171-year-old bank founded by Henry Wells and William Fargo has taken longer than he expected when he took over in 2019. "When I arrived, we did not have the culture, effective processes, or appropriate management oversight in place to remediate weaknesses on a timely basis," he said in his March 3 letter to shareholders. "Today, we approach these issues differently." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Wells Fargo will pay $1 bn in class action lawsuit

Tiger Woods, in a shocking move, has parted ways with his long-time caddie Joe LaCava. The two were together&nbsp;for 12 years which saw Woods lift&nbsp;12 trophies.

The decision comes after Tiger, who had announced that he has had another surgery on his right leg, left the Masters without competing for all 72-holes due to wild weather, sending a shock to every golf fan on the planet.

LaCava will now be with Patrick Cantlay as his caddie and the partnership will begin at the Wells Fargo Championship. LaCava had previously been the caddie for Cantlay at THE NORTHERN TRUST in 2021.

Speaking to PGATour on the separation, LaCava said Tiger understood his point to be more active with another golfer. “I missed it and I wanted to work more," LaCava said after Centlay's practice at Well Fargo.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/sports/nfl-aaron-rodgers-absolutely-enjoying-being-with-new-york-jets-says-its-been-a-dream-588468">NFL: Aaron Rodgers absolutely enjoying being with New York Jets, says 'it's been a dream'</a>

“He knows me well enough, and I know him well enough, that we know it's hopefully-slash-probably going to work," he added on partnership with Cantlay.&nbsp;

Speaking on if Tiger Woods is about to call time on his illustrious career soon, LaCava said, "Tiger’s not going to play much going forwards. Obviously, he’s not retiring. But he’s going to play two to six tournaments a year."

The caddie further revealed the conversation he had with Tiger before taking up the job with Cantlay.&nbsp;

"Tiger and I have talked about if something were to come up, feel free to do something," said LaCava and informed that Tiger said to him, "I know how much you miss it, how much you love caddying."

He further said, "I checked with Tiger. And he said, 'You’re crazy not to take the job, go forward, go win some tournaments, go have a great time.'"

Nonetheless, the news definitely raises some curious questions about Tiger Woods's career going forward but fans would definitely love to see the 47-year-old play and win a Masters one last time before he calls it quits.

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Tiger Woods, in a shocking move, has parted ways with his long-time caddie Joe LaCava. The two were together for 12 years which saw Woods lift 12 trophies. The decision comes after Tiger, who had announced that he has had another surgery on his right leg, left the Masters without competing for all 72-holes due to wild weather, sending a shock to every golf fan on the planet.

Tiger Woods, in a shocking move, has parted ways with his long-time caddie Joe LaCava. The two were together for 12 years which saw Woods lift 12 trophies. The decision comes after Tiger, who had announced that he has had another surgery on his right leg, left the Masters without competing for all 72-holes due to wild weather, sending a shock to every golf fan on the planet. LaCava will now be with Patrick Cantlay as his caddie and the partnership will begin at the Wells Fargo Championship. LaCava had previously been the caddie for Cantlay at THE NORTHERN TRUST in 2021. Speaking to PGATour on the separation, LaCava said Tiger understood his point to be more active with another golfer. “I missed it and I wanted to work more," LaCava said after Centlay's practice at Well Fargo. Also Read: NFL: Aaron Rodgers absolutely enjoying being with New York Jets, says 'it's been a dream' “He knows me well enough, and I know him well enough, that we know it's hopefully-slash-probably going to work," he added on partnership with Cantlay. Speaking on if Tiger Woods is about to call time on his illustrious career soon, LaCava said, "Tiger’s not going to play much going forwards. Obviously, he’s not retiring. But he’s going to play two to six tournaments a year." The caddie further revealed the conversation he had with Tiger before taking up the job with Cantlay. "Tiger and I have talked about if something were to come up, feel free to do something," said LaCava and informed that Tiger said to him, "I know how much you miss it, how much you love caddying." He further said, "I checked with Tiger. And he said, 'You’re crazy not to take the job, go forward, go win some tournaments, go have a great time.'" Nonetheless, the news definitely raises some curious questions about Tiger Woods's career going forward but fans would definitely love to see the 47-year-old play and win a Masters one last time before he calls it quits. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Golf: Tiger Woods, caddie Joe LaCava part ways after 12 years

American financial behemoth Wells Fargo has decided to pay $3.7 billion to settle loan violations, making it the largest fine to be levelled against a bank.

The bank has been accused of harming consumers by charging illegal fees and interest on auto loans and mortgages, and incorrectly applying overdraft fees against savings and checking accounts.

On Tuesday, the Consumer Financial Protection Bureau (CFPB) ordered Wells to repay $2 billion to consumers and enacted a $1.7 billion penalty against the bank.

The bureau blamed the bank’s bad behaviour that impacted more than 16 million customers.

“Put simply: Wells Fargo is a corporate recidivist that puts one out of three Americans at risk for potential harm,” said CFPB Director Rohit Chopra, in a call with reporters.

He said that the bank’s behaviour prompted the regulators to take additional actions against Wells Fargo that go beyond the $3.7 billion in fines and penalties.

In a statement, Wells Fargo CEO Charles Scharf said that the agreement with the CFPB is part of an effort to "transform operating practices at Wells Fargo and to put these issues behind us.”

“Our top priority is to continue to build a risk and control infrastructure that reflects the size and complexity of Wells Fargo and run the company in a more controlled, disciplined way,” Scharf said,

Wells Fargo has been repeatedly sanctioned by US regulators for breaching the consumer protection laws going back to 2016, when employees opened millions of accounts illegally in order to meet unrealistic sales goals.

Despite the warnings, the bank only intensified its malpractices after it was found to be in violation of other parts of consumer protection law, including in its auto and mortgage lending businesses.

In 2018, Wells Fargo coughed up $1 billion penalty for widespread consumer law violations, the largest against a bank for such violations at the time.

(With inputs from agencies)

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American financial behemoth Wells Fargo has decided to pay $3.7 billion to settle loan violations, making it the largest fine to be levelled against a bank. The bank has been accused of harming consumers by charging illegal fees and interest on auto loans and mortgages, and incorrectly applying overdraft fees against savings and checking accounts.

American financial behemoth Wells Fargo has decided to pay $3.7 billion to settle loan violations, making it the largest fine to be levelled against a bank. The bank has been accused of harming consumers by charging illegal fees and interest on auto loans and mortgages, and incorrectly applying overdraft fees against savings and checking accounts. On Tuesday, the Consumer Financial Protection Bureau (CFPB) ordered Wells to repay $2 billion to consumers and enacted a $1.7 billion penalty against the bank. The bureau blamed the bank’s bad behaviour that impacted more than 16 million customers. “Put simply: Wells Fargo is a corporate recidivist that puts one out of three Americans at risk for potential harm,” said CFPB Director Rohit Chopra, in a call with reporters. He said that the bank’s behaviour prompted the regulators to take additional actions against Wells Fargo that go beyond the $3.7 billion in fines and penalties. In a statement, Wells Fargo CEO Charles Scharf said that the agreement with the CFPB is part of an effort to "transform operating practices at Wells Fargo and to put these issues behind us.” “Our top priority is to continue to build a risk and control infrastructure that reflects the size and complexity of Wells Fargo and run the company in a more controlled, disciplined way,” Scharf said, Wells Fargo has been repeatedly sanctioned by US regulators for breaching the consumer protection laws going back to 2016, when employees opened millions of accounts illegally in order to meet unrealistic sales goals. Despite the warnings, the bank only intensified its malpractices after it was found to be in violation of other parts of consumer protection law, including in its auto and mortgage lending businesses. In 2018, Wells Fargo coughed up $1 billion penalty for widespread consumer law violations, the largest against a bank for such violations at the time. (With inputs from agencies) WATCH WION LIVE HERE:

Wells Fargo ordered to pay $3.7 billion fine for consumer loan violations, largest ever penalty against a bank

A teenager has been rewarded in New Mexico for returning&nbsp;$135,000 he found next to an ATM in Albuquerque.

Instead of walking away with it, Jose Nuñez Romaniz&nbsp;called Albuquerque&nbsp;police to inform them.

The&nbsp;19-year-old Nuñez&nbsp;drove to an ATM outside a Wells Fargo bank branch&nbsp;to deposit money into his bank account to make the online purchase.&nbsp;

<img alt="Nunez stands by the ATM where he found the bag." data-entity-type="file" data-entity-uuid="b5c506df-56f4-4c75-9fb6-087db16462f5" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2848%29_5.jpg" /> 
Nunez stands by the ATM where he found the bag.

However, when he reached there he spotted a "foot-long stack" of $50 and $20 bills on the ground on the side of the machine.

<img alt="foot-long stack" data-entity-type="file" data-entity-uuid="8be7a796-e50a-4f62-9c9b-4f074426abc2" src="//cdn.wionews.com/sites/default/files/inline-images/Untitled%20design%20%2849%29_3.jpg" /> 
Nuñez found this cash next to the ATM

Although he was surprised but&nbsp;Nuñez said he never considered keeping the cash.

He called the police and handed over the bag to them. The officers counted the cash back at their station: It totaled $135,000.

Albuquerque police understand the money was mistakenly left outside the ATM by a bank subcontractor that was meant to supply the machine with cash, Officer Simon Drobik said.

"This money could have made an incredible amount of difference in his life if he went down the other path, but he chose ... the integrity path and did the right thing," Drobik, a spokesman for the Albuquerque police, said.

Nuñez, a college student who lives at home and helps his parents take care of his two younger siblings, said his family comes from "humble beginnings," and that no one in his family has ever been around or seen that kind of money.

"My parents always taught me to work for my own. Stolen money would never last you any time," Nuñez recalled his mother,&nbsp;Carmen Romaniz and father,&nbsp;Jose Nunez Juarez teaching him.

Nuñez's integrity was rewarded. The City officials feted him in a ceremony on Thursday outside Albuquerque's police academy.

The police chief presented him with a plaque, and has invited Nuñez, a Central New Mexico Community College student who intends to study criminal justice -- to apply for a job as a public service aide at the police department, Drobik said.

Albuquerque ESPN Radio 101.7 FM presented him with some signed sports memorabilia that the station had -- including a football autographed by former NFL and University of New Mexico linebacker Brian Urlacher.

&nbsp;

A teenager has been rewarded in New Mexico for returning $135,000 he found next to an ATM in Albuquerque. Instead of walking away with it, Jose Nuñez Romaniz called Albuquerque police to inform them.

A teenager has been rewarded in New Mexico for returning $135,000 he found next to an ATM in Albuquerque. Instead of walking away with it, Jose Nuñez Romaniz called Albuquerque police to inform them. The 19-year-old Nuñez drove to an ATM outside a Wells Fargo bank branch to deposit money into his bank account to make the online purchase. Nunez stands by the ATM where he found the bag. However, when he reached there he spotted a "foot-long stack" of $50 and $20 bills on the ground on the side of the machine. Nuñez found this cash next to the ATM Although he was surprised but Nuñez said he never considered keeping the cash. He called the police and handed over the bag to them. The officers counted the cash back at their station: It totaled $135,000. Albuquerque police understand the money was mistakenly left outside the ATM by a bank subcontractor that was meant to supply the machine with cash, Officer Simon Drobik said. "This money could have made an incredible amount of difference in his life if he went down the other path, but he chose ... the integrity path and did the right thing," Drobik, a spokesman for the Albuquerque police, said. Nuñez, a college student who lives at home and helps his parents take care of his two younger siblings, said his family comes from "humble beginnings," and that no one in his family has ever been around or seen that kind of money. "My parents always taught me to work for my own. Stolen money would never last you any time," Nuñez recalled his mother, Carmen Romaniz and father, Jose Nunez Juarez teaching him. Nuñez's integrity was rewarded. The City officials feted him in a ceremony on Thursday outside Albuquerque's police academy. The police chief presented him with a plaque, and has invited Nuñez, a Central New Mexico Community College student who intends to study criminal justice -- to apply for a job as a public service aide at the police department, Drobik said. Albuquerque ESPN Radio 101.7 FM presented him with some signed sports memorabilia that the station had -- including a football autographed by former NFL and University of New Mexico linebacker Brian Urlacher.

Honesty is the best policy: US teen awarded for returning $135K he found

HSBC is planning to lay off up to 10,000 staff, a report said Monday, just weeks after its <a href="https://www.wionews.com/business-economy/hsbc-ceo-john-flint-resigns-as-it-faces-challenging-geopolitics-240704">chief executive stepped down</a> and announced the axing 4,000 posts citing a weak global outlook.

The latest cuts mostly in high-paid roles are part of a fresh cost-cutting drive by new boss Noel Quinn as the banking titan struggles to adjust to falling interest rates, Brexit and the long-running trade war, the Financial Times reported.

"We've known for years that we need to do something about our cost base, the largest component of which is people -&nbsp;now we are finally grasping the nettle," the paper quoted an unnamed source as saying.

"There's some very hard modelling going on. We are asking why we have so many people in Europe when we've got double-digit returns in parts of Asia."

The London-headquartered bank last month announced the shock exit of CEO John Flint after just 18 months in the hot seat but gave no reason for the decision.

At the same time, it revealed it would axe two per cent of its global workforce, or roughly 4,000 mostly management jobs, in a new restructuring aimed at weathering the global turmoil.

Still, its reported first-half net profit rose 18.6 per cent on-year to $8.5 billion.

It is due to report third-quarter earnings at the end of October.

The cost-cutting drive is in line with other lenders who are battling global headwinds.

US banks including JPMorgan Chase and Wells Fargo have lowered their 2019 profit forecasts tied to interest rates as central banks around the world loosen monetary policy in response to a weakening global growth outlook.

Lower interest rates mean less profit on loans made by the banks, especially if they have offered higher returns on deposits to attract customers.

And last month Germany's second-largest lender Commerzbank said it plans to cut the equivalent of 4,300 full-time posts -&nbsp;a tenth of its workforce -&nbsp;and shut 200 branches as it restructures.

<a href="https://www.wionews.com/world/deutsche-bank-says-to-slash-18000-jobs-by-2022-233897">Deutsche Bank has announced 18,000 job cuts</a> and France's Societe Generale 1,600.

HSBC is planning to lay off up to 10,000 staff, a report said Monday, just weeks after its chief executive stepped down and announced the axing 4,000 posts citing a weak global outlook.

HSBC is planning to lay off up to 10,000 staff, a report said Monday, just weeks after its chief executive stepped down and announced the axing 4,000 posts citing a weak global outlook. The latest cuts mostly in high-paid roles are part of a fresh cost-cutting drive by new boss Noel Quinn as the banking titan struggles to adjust to falling interest rates, Brexit and the long-running trade war, the Financial Times reported. "We've known for years that we need to do something about our cost base, the largest component of which is people - now we are finally grasping the nettle," the paper quoted an unnamed source as saying. "There's some very hard modelling going on. We are asking why we have so many people in Europe when we've got double-digit returns in parts of Asia." The London-headquartered bank last month announced the shock exit of CEO John Flint after just 18 months in the hot seat but gave no reason for the decision. At the same time, it revealed it would axe two per cent of its global workforce, or roughly 4,000 mostly management jobs, in a new restructuring aimed at weathering the global turmoil. Still, its reported first-half net profit rose 18.6 per cent on-year to $8.5 billion. It is due to report third-quarter earnings at the end of October. The cost-cutting drive is in line with other lenders who are battling global headwinds. US banks including JPMorgan Chase and Wells Fargo have lowered their 2019 profit forecasts tied to interest rates as central banks around the world loosen monetary policy in response to a weakening global growth outlook. Lower interest rates mean less profit on loans made by the banks, especially if they have offered higher returns on deposits to attract customers. And last month Germany's second-largest lender Commerzbank said it plans to cut the equivalent of 4,300 full-time posts - a tenth of its workforce - and shut 200 branches as it restructures. Deutsche Bank has announced 18,000 job cuts and France's Societe Generale 1,600.

HSBC planning to cut 10,000 more jobs: Report

Anirban Lahiri had a disastrous finish as he dropped four shots in closing three holes to end at 5-over 76 on the opening day of Wells Fargo golf tournament here.&nbsp

The ordinary meant he will need a very low second round to ensure he stays on for the weekend. Lahiri, now lying T-128, continued to miss short putts. On Thursday, he missed at least four putts inside six and a half feet and a few others between 10-15 feet.

Lahiri bogeyed the second and eighth hole and dropped another shot on 11th as he was 3-over through the first 12 holes. Birdies on 13th from 21 feet and 15th from 11 feet seemed to have salvaged the round.&nbsp

And then came the last three as he bogeyed 16th when he missed a five-footer par putt and then on and 17th he missed an 11-footer for par. On Par-4 18th, he had a tough shot from the bunker and went beyond. Then he missed a six-footer for bogey and ended with a double.

John Peterson, 29, made back-to-back eagles on Par-5 seventh and Par-4 eighth and added three more birdies on back nine for a splendid 6-under 65. He bogeyed the fifth. Peterson has declared that he will walk away from golf if he doesn't earn enough money to keep his card in three events.

Tiger Woods returned to Quail Hollow after a six-year absence and shot a modest 71, that pegged him at T-34th. Woods had back-to-back birdies on the holes where Peterson made his eagles, getting him to 1 under. But he hit a poor wedge that led to bogey on the par-5 10th. He had a birdie on the par-5 15th, only to give back that shot with a three-putt bogey from 15 feet on No. 16.

Peterson holed a bunker shot from just under 60 feet on the par-5 seventh and then holed a 56-degree wedge from 107 yards in the fairway for eagle on the next hole, the par-4 eighth.

Peterson has never led after any round in 89 starts on the PGA TOUR. He has declared that he wants to win the Wells Fargo Championship or the two tournaments he has left. Because of surgery on his left hand two years ago, Peterson started the year needing to make $375,165 in eight tournaments to keep his card.&nbsp

Five events later, he still needs $318,096. He has two starts remaining at the FedEx St. Jude Classic and Travelers Championship.

In case he does not make his card, Peterson is ready to get into real estate development with friends in Texas and give up pro golf.

Johnson Wagner, a member at Quail Hollow, also had back-to-back eagles when he drove the green on the par-4 14th to 6 feet, and then hit the green on the par-5 15th hole and made a 45-foot putt. He is in a group of five at 67 that included Tyrrell Hatton.

Rory McIlroy, a two-time winner at Wells Fargo, was among 10 players at 68. Paul Casey and Jason Day were among seven players at 69.

Anirban Lahiri had a disastrous finish as he dropped four shots in closing three holes to end at 5-over 76 on the opening day of Wells Fargo golf tournament

Anirban Lahiri had a disastrous finish as he dropped four shots in closing three holes to end at 5-over 76 on the opening day of Wells Fargo golf tournament here. The ordinary meant he will need a very low second round to ensure he stays on for the weekend. Lahiri, now lying T-128, continued to miss short putts. On Thursday, he missed at least four putts inside six and a half feet and a few others between 10-15 feet. Lahiri bogeyed the second and eighth hole and dropped another shot on 11th as he was 3-over through the first 12 holes. Birdies on 13th from 21 feet and 15th from 11 feet seemed to have salvaged the round. And then came the last three as he bogeyed 16th when he missed a five-footer par putt and then on and 17th he missed an 11-footer for par. On Par-4 18th, he had a tough shot from the bunker and went beyond. Then he missed a six-footer for bogey and ended with a double. John Peterson, 29, made back-to-back eagles on Par-5 seventh and Par-4 eighth and added three more birdies on back nine for a splendid 6-under 65. He bogeyed the fifth. Peterson has declared that he will walk away from golf if he doesn't earn enough money to keep his card in three events. Tiger Woods returned to Quail Hollow after a six-year absence and shot a modest 71, that pegged him at T-34th. Woods had back-to-back birdies on the holes where Peterson made his eagles, getting him to 1 under. But he hit a poor wedge that led to bogey on the par-5 10th. He had a birdie on the par-5 15th, only to give back that shot with a three-putt bogey from 15 feet on No. 16. Peterson holed a bunker shot from just under 60 feet on the par-5 seventh and then holed a 56-degree wedge from 107 yards in the fairway for eagle on the next hole, the par-4 eighth. Peterson has never led after any round in 89 starts on the PGA TOUR. He has declared that he wants to win the Wells Fargo Championship or the two tournaments he has left. Because of surgery on his left hand two years ago, Peterson started the year needing to make $375,165 in eight tournaments to keep his card. Five events later, he still needs $318,096. He has two starts remaining at the FedEx St. Jude Classic and Travelers Championship. In case he does not make his card, Peterson is ready to get into real estate development with friends in Texas and give up pro golf. Johnson Wagner, a member at Quail Hollow, also had back-to-back eagles when he drove the green on the par-4 14th to 6 feet, and then hit the green on the par-5 15th hole and made a 45-foot putt. He is in a group of five at 67 that included Tyrrell Hatton. Rory McIlroy, a two-time winner at Wells Fargo, was among 10 players at 68. Paul Casey and Jason Day were among seven players at 69.

Anirban Lahiri disappoints; modest start for Tiger Woods

Wells Fargo &amp; Co&#39;s veteran chairman and chief executive officer, John Stumpf, abruptly departed on Wednesday bowing to pressure over its sales tactics that has damaged the bank&#39;s reputation and put Wall Street under renewed scrutiny.

San Francisco-based Wells Fargo said Stumpf, 63, was retiring and would be replaced as chief executive by President and Chief Operating Officer Tim Sloan, 56.

The bank is splitting the role of chairman and CEO with Stephen Sanger, its lead director, becoming chairman.

Stumpf&#39;s exit leaves Sloan with a steep challenge in rebuilding its reputation and overhauling its hard-charging sales culture without gutting profits. The new CEO will also contend with ongoing regulatory investigations and private litigation.

The departure is a stunning reversal of fortune for Stumpf, who successfully navigated Wells through the financial crisis and built it into the world&#39;s most valuable bank with a focus on Main Street-style lending that was the envy of Wall Street.

&quot;I have decided it is best for the company that I step aside,&quot; he said in a statement.

The bank&#39;s shares, which have slumped in the wake of the scandal, rose 2 per cent in after-hours trading after the bank announced Stumpf&#39;s exit.

Sloan said his immediate priority was to restore trust in the bank.

Long considered Stumpf`s successor, Sloan has spent most of his career at Wells working with corporations and institutional investors not the retail division, where the fraudulent accounts were opened.

But as the former CFO, and president and COO of the company since November, he has been responsible for the entire company, including the retail bank at the heart of the scandal.

Carrie Tolstedt, the woman who ran the retail division when the misconduct occurred, reported to Sloan from November of last year. She left the bank last month.

&ldquo;They had three goals in replacing Stumpf: speed, integrity, and competence. If you want to move very fast and find someone intimately familiar with the business, you&rsquo;ve got to hire an insider,&quot; said

Peter Conti-Brown, a business ethics and law professor at University of Pennsylvania`s Wharton School of Business.

&quot;If you want to hire someone with unimpeachable integrity, that`s going to take time to find,&quot; Conti-Brown said.

Sloan will preside over the bank`s third-quarter earnings on Friday.&nbsp;

Fall from grace&nbsp;

Stumpf&#39;s fall from grace started with a $185 million regulatory settlement between the bank, regulatory authorities and a Los Angeles prosecutor over its staff opening as many as 2 million accounts without customers` knowledge.

The misconduct, carried out by low-level branch staff to meet internal sales targets, shattered the bank`s folksy image and a raft of federal and state investigations followed. 
Stumpf was summoned before the U.S. Senate and faced calls for his resignation after repeatedly deferring responsibility to low level workers and decision-making authority to his board of directors.

Massachusetts Senator Elizabeth Warren called him a &quot;gutless leader&quot; who &quot;should be criminally investigated.&quot;

A week after that hearing, he agreed to forgo $41 million in unvested stock awards.

However, that was not enough and at a second hearing, some lawmakers called for the bank to be broken up.

California State Treasurer John Chiang, who announced a year-long ban on state business with Wells Fargo, released a statement praising Stumpf`s resignation.

&quot;Based on his duck, dodge, and deny performance in the wake of admissions that his bank had fleeced legions of its own customers, he was not &ndash; and would never be &ndash; the change agent leader Wells

Fargo so desperately needs,&quot; Chiang said in the statement.

John Thielen, who grew up with Stumpf in Piers, Minnesota where he was a year behind the future CEO in school, said he felt sorry for Stumpf.&nbsp;

&quot;He&#39;s in hot water, but I think he put himself there,&quot; Thielen told Reuters in a recent interview that preceded Stumpf&#39;s resignation.

(Reuters)

Stumpf's abrupt departure comes in the wake of pressure over its sales tactics that has known to have damaged the bank's reputation

Wells Fargo & Co's veteran chairman and chief executive officer, John Stumpf, abruptly departed on Wednesday bowing to pressure over its sales tactics that has damaged the bank's reputation and put Wall Street under renewed scrutiny. San Francisco-based Wells Fargo said Stumpf, 63, was retiring and would be replaced as chief executive by President and Chief Operating Officer Tim Sloan, 56. The bank is splitting the role of chairman and CEO with Stephen Sanger, its lead director, becoming chairman. Stumpf's exit leaves Sloan with a steep challenge in rebuilding its reputation and overhauling its hard-charging sales culture without gutting profits. The new CEO will also contend with ongoing regulatory investigations and private litigation. The departure is a stunning reversal of fortune for Stumpf, who successfully navigated Wells through the financial crisis and built it into the world's most valuable bank with a focus on Main Street-style lending that was the envy of Wall Street. "I have decided it is best for the company that I step aside," he said in a statement. The bank's shares, which have slumped in the wake of the scandal, rose 2 per cent in after-hours trading after the bank announced Stumpf's exit. Sloan said his immediate priority was to restore trust in the bank. Long considered Stumpf`s successor, Sloan has spent most of his career at Wells working with corporations and institutional investors not the retail division, where the fraudulent accounts were opened. But as the former CFO, and president and COO of the company since November, he has been responsible for the entire company, including the retail bank at the heart of the scandal. Carrie Tolstedt, the woman who ran the retail division when the misconduct occurred, reported to Sloan from November of last year. She left the bank last month. “They had three goals in replacing Stumpf: speed, integrity, and competence. If you want to move very fast and find someone intimately familiar with the business, you’ve got to hire an insider," said Peter Conti-Brown, a business ethics and law professor at University of Pennsylvania`s Wharton School of Business. "If you want to hire someone with unimpeachable integrity, that`s going to take time to find," Conti-Brown said. Sloan will preside over the bank`s third-quarter earnings on Friday. Fall from grace Stumpf's fall from grace started with a $185 million regulatory settlement between the bank, regulatory authorities and a Los Angeles prosecutor over its staff opening as many as 2 million accounts without customers` knowledge. The misconduct, carried out by low-level branch staff to meet internal sales targets, shattered the bank`s folksy image and a raft of federal and state investigations followed. Stumpf was summoned before the U.S. Senate and faced calls for his resignation after repeatedly deferring responsibility to low level workers and decision-making authority to his board of directors. Massachusetts Senator Elizabeth Warren called him a "gutless leader" who "should be criminally investigated." A week after that hearing, he agreed to forgo $41 million in unvested stock awards. However, that was not enough and at a second hearing, some lawmakers called for the bank to be broken up. California State Treasurer John Chiang, who announced a year-long ban on state business with Wells Fargo, released a statement praising Stumpf`s resignation. "Based on his duck, dodge, and deny performance in the wake of admissions that his bank had fleeced legions of its own customers, he was not – and would never be – the change agent leader Wells Fargo so desperately needs," Chiang said in the statement. John Thielen, who grew up with Stumpf in Piers, Minnesota where he was a year behind the future CEO in school, said he felt sorry for Stumpf. "He's in hot water, but I think he put himself there," Thielen told Reuters in a recent interview that preceded Stumpf's resignation. (Reuters)

Wells Fargo CEO John Stumpf quits, replaced by Tim Sloan

Retail and commercial banking giant Wells Fargo has been fined more than $185 million in fines by regulators in US for secretly opening more than a million bogus accounts without the knowledge of the customers. 
 
The Consumer Financial Protection Bureau (CBFC) says the employees of the bank illegally boosted sales figures by opening unauthorised deposit and credit accounts and funded them with customers&#39; money without their permission, sometimes creating phony email addresses to enroll them.&nbsp; 
 
The San Francisco-based bank will pay $100 million to the CBFC, its largest fine to date, $50 million to the City of Los Angeles, which had filed a lawsuit last year, accusing the bank of pressuring employees into fraudulent behavior, such as opening fictitious accounts, $35 million to the Treasury Department and $5 million to compensate all customers concerned.&nbsp; 
 
&quot;Today&#39;s action should serve notice to the entire industry that financial incentive programs, if not monitored carefully, carry serious risks that can have serious legal consequences,&quot; CFPB Director Richard Cordray said in a statement. 
 
Wells Fargo said that it &quot;regretted and took responsibility for the unauthorised accounts.&quot; It said a review by a third-party consultant resulted in $2.6 million in refunds to customers for any fees associated with products the account holders &quot;may not have requested.&quot;&nbsp; 
 
&ldquo;Wells Fargo is committed to putting our customers&rsquo; interests first 100% of the time, and we regret and take responsibility for any instances where customers may have received a product that they did not request,&quot; the company said in a statement. 
 
Wells Fargo found that employees had opened more than 1.5 million bogus deposit accounts alone over 2011-2015 resulting in millions of dollars in customer fees while helping bank employees meet sales targets and receive bonuses. 
 
A bank spokesperson said it had fired 5,300 employees and managers over a five-year period for their involvement in the scam.&nbsp; 
 
The bank&#39;s shares closed fractionally higher at $49.90 on Thursday. 
 
(WION with inputs from agencies)

The San Francisco-based bank will pay $100 million to the Consumer Financial Protection Bureau alone, the largest fine imposed by the regulator till date

Retail and commercial banking giant Wells Fargo has been fined more than $185 million in fines by regulators in US for secretly opening more than a million bogus accounts without the knowledge of the customers. The Consumer Financial Protection Bureau (CBFC) says the employees of the bank illegally boosted sales figures by opening unauthorised deposit and credit accounts and funded them with customers' money without their permission, sometimes creating phony email addresses to enroll them. The San Francisco-based bank will pay $100 million to the CBFC, its largest fine to date, $50 million to the City of Los Angeles, which had filed a lawsuit last year, accusing the bank of pressuring employees into fraudulent behavior, such as opening fictitious accounts, $35 million to the Treasury Department and $5 million to compensate all customers concerned. "Today's action should serve notice to the entire industry that financial incentive programs, if not monitored carefully, carry serious risks that can have serious legal consequences," CFPB Director Richard Cordray said in a statement. Wells Fargo said that it "regretted and took responsibility for the unauthorised accounts." It said a review by a third-party consultant resulted in $2.6 million in refunds to customers for any fees associated with products the account holders "may not have requested." “Wells Fargo is committed to putting our customers’ interests first 100% of the time, and we regret and take responsibility for any instances where customers may have received a product that they did not request," the company said in a statement. Wells Fargo found that employees had opened more than 1.5 million bogus deposit accounts alone over 2011-2015 resulting in millions of dollars in customer fees while helping bank employees meet sales targets and receive bonuses. A bank spokesperson said it had fired 5,300 employees and managers over a five-year period for their involvement in the scam. The bank's shares closed fractionally higher at $49.90 on Thursday. (WION with inputs from agencies)

US banking giant Wells Fargo fined $185 mn for bogus accounts

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