Latest news with #WellsFargoCo
Bloomberg
29-05-2025
- Business
- Bloomberg
Wells Fargo Agrees to Sell Railcar Assets to Brookfield, GATX
Wells Fargo & Co. agreed to sell the assets of its rail equipment leasing business to a venture between Brookfield Infrastructure Partners and GATX Corp. as the bank continues to refocus on its core lending and advisory businesses. The sale includes Wells Fargo's portfolio of rail operating lease assets, which have a book value of about $4.4 billion, as well as its rail finance lease portfolio, the bank said Thursday in a statement. The deal, which isn't expected to materially impact earnings, should close by early next year, it said.
Bloomberg
29-05-2025
- Business
- Bloomberg
Wells Fargo Nears End of Scandal Era With Just Fed Cap Remaining
Wells Fargo & Co. resolved another regulatory punishment, the seventh this year, as the Office of the Comptroller of the Currency terminated its 2015 agreements relating to the company's previously held financial subsidiaries. The development represents the 13th consent order closed by banking regulators since 2019, the firm said in a statement Thursday.
