Wells Fargo & Co. may have a new leader, but the work of reinvigorating the firm after years of troubles is far from over.
In Charlie Scharf’s first quarter at the helm, Wells Fargo reported $1.5 billion in expenses for litigation as the lender works through its problems, the second straight quarter where earnings were hit by major legal costs. That drove a 53% drop in net income from a year earlier, missing analysts’ estimates.
“Please recognize that it is still early days -- I don’t have all the answers yet, but I will share more as I learn ...
