The Financial Industry Regulatory Authority (FINRA) announced news on Monday (Oct. 16) that it has ordered Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network to pay more than $3.4 million in restitution for making bad recommendations of volatility-linked, exchange-traded products (ETPs). Get the...
The president of the Federal Reserve Bank of St. Louis, James Bullard, warned Thursday (Oct. 12) that banking regulators in the U.S. need to pick up the pace in their efforts to confront the risks created by FinTech companies to the banking sector. Get the...
Ohio announced that it is extending its ban on doing business with Wells Fargo because the bank “still has work to do” when it comes to assisting consumers and fixing its internal problems. Get the Full Story Complete the form to unlock this article and...
The Independent Community Bankers of America (ICBA), the trade group for community banks, is calling on the Federal Deposit Insurance Corporation (FDIC) to deny a federal deposit insurance application by payment terminal company Square. Get the Full Story Complete the form to unlock this article...
As Australia’s financial services industry faces continued pressure from the Australian Small Business and Family Enterprise Ombudsman to improve small business lending practices, National Australia Bank (NAB) said it is overhauling its existing SME and SMB loan contracts. Get the Full Story Complete the form...
“The clamp down.” “The crackdown.” “The crushing blow.” Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you...
“The clamp down.” “The crackdown.” “The crushing blow.” Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you...
In response to mounting bad debt in the sector, the European Central Bank (ECB) will ask eurozone banks to put more cash aside to cover bad bank loans, according to a report in Reuters — and could request more measures to protect against it in the...
Top Democrat Maxine Waters has introduced a bill outlining a process to break apart big banks that engage in widespread consumer abuse. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
