New York, Jan 23, 2026, 20:50 EST — Market closed.
Wells Fargo & Co shares dropped 1.23%, closing Friday at $86.96 amid a choppy Wall Street session. The lender’s stock remains roughly 11% below its 52-week peak of $97.76 reached on January 5. U.S. Bancorp also declined, slipping 1.26%. (MarketWatch)
With U.S. markets closed until Monday, investors face a packed week that could quickly shift rate expectations, led by the Federal Reserve and a flood of corporate earnings. “It’s been a little bit of a short but steep roller-coaster ride over the past several days,” Yung-Yu Ma, chief investment strategist at PNC Financial Services Group, noted in a preview of the week ahead. (Reuters)
Banks remain focused on the same pressure point: lower rates squeezing net interest income — the gap between what they earn on loans and pay on deposits. Truist analyst Brian Foran noted, “the debate will be whether this is the final cut.” The KBW Nasdaq Regional Banking Index dropped about 3% on Friday. “Little good news from the financials today,” said Macrae Sykes, portfolio manager at Gabelli Funds. (Reuters)
Wells Fargo filed a court-authorized notice outlining a proposed settlement in a shareholder derivative lawsuit focused on mortgage lending and diversity hiring practices. Under the deal, the bank would provide $100 million in mortgage aid to low- and moderate-income borrowers, while an insurer would chip in $10 million. Shareholders won’t get direct payments, the notice said. A final approval hearing is scheduled for May 5, 2026. Plaintiffs’ attorneys are aiming for a $27.5 million fee and expense award, according to the filing. (SEC)
Wells Fargo revealed in a separate SEC filing Friday that it has issued $8 billion in Medium-Term Notes, Series Y, split into four tranches maturing between 2030 and 2047. The offering featured $500 million in floating-rate notes due January 23, 2030, alongside $2 billion in fixed-to-floating notes due 2030, $3.5 billion due 2037, and $2 billion due 2047. (SEC)
Debt sales are standard fare for the largest U.S. banks, yet the timing sharpens attention on funding costs as investors wrestle with how many rate cuts — if any — lie ahead. These moves directly impact bank profits via their margins.
The settlement isn’t set in stone yet. It requires court approval and could face objections, potentially dragging out a legal battle investors are eager to leave behind.
On Monday, Wells Fargo’s trading will probably track the wider financial sector more than any individual filing, particularly if there’s another shift in rate expectations. That’s the trend recently, and it usually drowns out other factors.
The Fed’s next major event is the January 27–28 meeting, with a press conference set for 2:30 p.m. ET on January 28, according to the central bank’s official calendar. (Federal Reserve)
