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Report: Wells Fargo asks for rebates from technology vendors

Aug 05, 2019 - SNL Financial
Financial Results

Wells Fargo & Co. asked outside technology consultants for a rebate equal to 2.5% of what they had earned from the bank in 2018 because they have benefited from increased business due to the bank's various regulatory scandals, The Wall Street Journal reported, citing sources familiar with the matter and emails it viewed.

The company met with technology vendors July 18 in Charlotte, N.C. The company also discussed other cost-cutting initiatives, including eliminating offices with low occupa...