Tuesday, September 21, 2021
86.2 F
Fort Worth

Buffett won’t discuss Wells Fargo scandal until November

🕐 0 min read

OMAHA, Neb. (AP) — Billionaire Warren Buffett doesn’t plan to talk about employee misconduct at Wells Fargo before November, when he is required to file a quarterly update on its stock portfolio.

Buffett’s Berkshire Hathaway owns roughly 10 percent of the bank.

Buffett told the Fox Business Network he plans to remain silent for now on misconduct at Wells Fargo that led to the firings of about 5,300 bank employees and a $185 million fine.

Regulators determined that bank employees opened millions of unauthorized accounts to meet sales quotas.

Berkshire has been Wells Fargo’s largest shareholder, and Buffett has praised CEO John Stumpf.

Related Articles

Our Digital Sponsors

Latest Articles

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate