Bloomberg Commerzbank AG is preparing to eliminate thousands of jobs as Chief Executive Officer Martin Zielke seeks to boost profitability at the German lender, according to a person with knowledge of the matter. Commerzbank may reveal the changes next week when Zielke presents his plan to the supervisory board, said two people, asking not to be identified because the ...

  Bloomberg Wells Fargo & Co. managers were accused of fueling the creation of bogus accounts in what may be the first lawsuit by fired or demoted employees since the bank was called out by regulators. The lawsuit offers details of how low-level bankers were allegedly pushed to create at least 10 new accounts a day in a sales initiative ...

  Bloomberg Deutsche Bank AG’s finances, weakened by low profitability and mounting legal costs, are raising concern among German politicians after the U.S. sought $14 billion to settle claims related to the sale of mortgage-backed securities. At a closed session of Social Democratic finance lawmakers this week, Deutsche Bank’s woes came up alongside a debate over Basel financial rules, according ...