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Wells Fargo Is `Too Big to Manage,' U.S. Lawmaker Waters Tells CEO

Wells Fargo Is `Too Big to Manage,' U.S. Lawmaker Waters Tells CEO

Wells Fargo CEO Tim Sloan appeared Tuesday before the U.S. House of Representatives' Financial Services Committee for the first time since Democrats, who are typically more critical of big banks than Republicans, took control of the chamber in last November's elections. The panel's leader, Congresswoman Maxine Waters of Southern California, scolded Sloan, but so did Republicans on the committee.

Wells Fargo CEO Sloan Faces Lashing in Congress - From a New Tormentor

Wells Fargo CEO Sloan Faces Lashing in Congress - From a New Tormentor

Wells Fargo CEO Tim Sloan is scheduled to appear Tuesday before the U.S. House of Representatives' Financial Services Committee for the first time since Democrats, who are typically more critical of big banks than Republicans, took control of the chamber in last November's elections. The panel is led by Congresswoman Maxine Waters of Southern California, where some of Wells Fargo's recent scandals originated.

Citigroup CEO Gets Pay Raise of 4.3%, Smallest on Wall Street

Citigroup CEO Gets Pay Raise of 4.3%, Smallest on Wall Street

Citigroup CEO Michael Corbat got a 4.3% pay raise to $24 million, as the bank's board gave him an overall report card tantamount to a B-minus.

Blackstone CEO Schwarzman Cuts Pay 45% to Mega Millions-Style $69.1 Million

Blackstone CEO Schwarzman Cuts Pay 45% to Mega Millions-Style $69.1 Million

Blackstone CEO Stephen Schwarzman, who sets his own pay, got a 45% cut in total compensation last year to $69.1 million. But compared with JPMorgan Chase CEO Jamie Dimon, considered by most investors to be the reigning dean of Wall Street, Schwarzman still looks vastly overpaid.

Wells Fargo's Latest $240 Million Legal Setback Is Win for Shareholders

Wells Fargo's Latest $240 Million Legal Setback Is Win for Shareholders

Wells Fargo discloses an agreement in principle of a shareholder-derivative lawsuit under which its insurers will pay $240 million - to the company. In an embarrassing way, it's a minor win for shareholders after more than $4.5 billion of elevated costs stemming from a series of scandals.

Blackstone Posts First Quarterly Loss Since 2015 After Market Turmoil

Blackstone Posts First Quarterly Loss Since 2015 After Market Turmoil

Stephen Schwarzman's Blackstone Group posted a fourth-quarter net loss of $79.7 million, as investment revenue tumbled.

Union Pacific Stock Rides Higher After Railroad Vet Jumps Aboard

Union Pacific Stock Rides Higher After Railroad Vet Jumps Aboard

UNP stock is speeding up the track on Tuesday.

Huawei and Nissan Arrests Hitting Asian Confidence Hard

Huawei and Nissan Arrests Hitting Asian Confidence Hard

Asian markets have been spooked by the fall of these mighty executives.

S Corp vs. LLC: What Makes Them Different?

S Corp vs. LLC: What Makes Them Different?

Business owners can choose to run their companies as an S corporation or as a limited liability corporation. Which option works best for you?

In Boardroom, Blackstone CEO Schwarzman Surrounds Himself With Men

In Boardroom, Blackstone CEO Schwarzman Surrounds Himself With Men

Stephen Schwarzman's Blackstone Group has just one woman on an 11-person board, putting Blackstone in percentage terms near the bottom of the Standard & Poor's 500.