Most recently, in 2016 Wells Fargo was caught opening fraudulent accounts to meet sales goals at the retail level. This was a large impact on the brand image, so much that Wells Fargo advertised how they eliminated their sales goal to discourage these activities. On September 8, 2016, Wells Fargo settled with the Consumer Finance Protection Bureau, the Office of the Comptroller of the Currency, and the Office of the Los Angeles City Attorney regarding retail customers receiving unwanted products and services.
Financially speaking, Wells Fargo continues to do well, generating quarterly earnings of more than $5 billion for 16 consecutive quarters. Compared to a year ago, revenue was up 2% at $22.3 billion. These data points can be found within the 10-Q filing Wells Fargo submitted. Technically speaking, there have been some large swings recently, but overall the chart has had healthy runs and pullbacks.
Valuation Drivers Correlation
|Investment Horizon||30 Days Login to change|