Wells Fargo

New Capabilities

New agent terms take effect November 24, 2026

An AI agent that logs in with a customer's password looks exactly like that customer to a bank's systems. JPMorgan Chase, Charles Schwab, Citigroup and Wells Fargo spent October blocking such agents from consumer accounts, or writing terms that make the customer responsible for whatever an agent does.

Updated 4 days ago

Money Moves

Beat on profit, missed on revenue

JPMorgan Chase missed profit estimates for the first time since late 2023, while Goldman Sachs beat by 30% and Morgan Stanley topped expectations. The gap came down to equities trading, which rose 72% at Goldman and 49% at JPMorgan. Treasury yields had their biggest quarterly rise since 2009, which cooled bond desks.

Updated Nov 1

Money Moves

Preferred lender for ICON's 3D-printed homes and Titan financing

ICON printed its 270-plus homes with its own robots. Now it's selling the robots — the Austin company raised $200 million on October 13 to manufacture the Titan multi-story printing system and put it in other builders' hands.

Updated Oct 31

Money Moves

Foreclosed on 100 Summer St.; the Oct. 27 auction ended with Rockpoint as sole bidder at $260 million, so the bank did not take the tower at the sale.

Rockpoint Group bought back 100 Summer St. at a foreclosure auction on Oct. 27, paying $260 million as the sole bidder. The 32-story Financial District tower had sold for $806 million in October 2019, five months before COVID-19 hit.

Updated Oct 30

Money Moves

Mortgage lender that moved to foreclose on 100 Summer St.

Rockpoint Group bought back 100 Summer St. at a foreclosure auction on Oct. 27, 2026, paying $260 million for the 32-story tower it had bought for $806 million in 2019. The auction lasted about 40 seconds and drew one bid: Rockpoint's, at the $260 million opening set by lender Wells Fargo.

Updated Oct 30

Money Moves

As of May 2026: EPS beat but revenue missed estimates; stock fell ~5% on April 14; loans surpassed $1 trillion for first time since 2020

The six largest American banks wrapped up first-quarter 2026 reporting with combined net income of $47.3 billion, with trading floors thriving on Iran war volatility even as the outlook darkened. JPMorgan earned $5.94 per share on $50.54 billion in revenue as fixed-income trading surged 21 percent to $7.08 billion, while Citigroup posted its best quarterly revenue in a decade at $24.63 billion. Bank of America earned $1.11 per share, its highest in nearly two decades. Morgan Stanley posted a record equities trading quarter of $5.15 billion and a 29 percent jump in profit. Goldman Sachs led the week with record equities trading revenue of $5.33 billion. The banks announced roughly 5,000 job cuts, using the profit windfall to trim headcount rather than expand.

Updated May 31