Wells Fargo & Co. (WFC) announced that it is canceling Wells Fargo Home Mortgage Meeting in Las Vegas in light of the current environment. The company also added that it do not plan to have any other recognition events this year. The company stated that an Associated Press story regarding its recognition events is intentionally misleading.
Earlier today, an Associated Press story stated that company's Las Vegas event is a "junket" for executives. In a statement issued in response to that story, the company stated that the event is not a "junket" but a four-day business meeting and recognition event for hard-working team members.
Wells Fargo added that The Associated Press story also misleads readers by implying that it used the government's investment to pay for these events. The company specified that it used the government's investment to lend to creditworthy customers and to help homeowners avoid foreclosure.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.