Fifth Third Bank said it’s facing enforcement action from the Consumer Financial Protection Bureau (CFPB) over alleged openings of unauthorized accounts. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
Wells Fargo agreed to pay $3 billion as a settlement with regulators over a scandal involving the creation of fake accounts, according to a report by The Wall Street Journal. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
At a Wednesday (Feb. 5) hearing before the House Financial Services Committee, representatives from several consumer groups said “rent-a-bank” schemes harm consumers through predatory lending. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
As business loan performance drops off, U.S. banks are anticipated to rein in criteria this year, a Federal Reserve (Fed) survey showed on Monday (Feb. 3). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
A fine for embattled banking institution Danske Bank could be much lower lower than expected in the U.S. because the institution does not have a banking license in the country, according to a report by Reuters. Get the Full Story Complete the form to unlock...
Europe’s main banking regulator, an arm of the ECB, is trying to make it easier for the continent’s financial lenders to merge. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
Wells Fargo’s woes, which began in earnest in 2016 when a scandal involving millions of fake accounts created to boost numbers came to light, are continuing and don’t show any signs of abating any time soon, according to a report by Reuters. Get the Full...
Former Wells Fargo CEO John Stumpf has been banned from ever working in the banking industry again by the U.S. government, according to a report by CNBC. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
China is finalizing its first rules for online-only banks, striving to reduce financial jeopardy and lure pivotal participants, Reuters reported on Monday (Jan. 13), citing three sources. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
