Coming off the heels of a fake account scandal that resulted in the departure of Wells Fargo CEO John Stumpf, the bank is providing an update about the impact it’s having on the business. In a press release, Wells Fargo disclosed customer interactions with tellers...
A couple of months since the Wells Fargo fake account scandal broke, Warren Buffett is breaking his silence, telling CNN that Wells Fargo made a “terrible mistake” by maintaining its sales goals. According to the report, Buffett said the sales goals were enough to corrupt people....
Bill.com, the business payments company, announced Wednesday (Nov. 9) the launch of Bill.com Connect, a digital payments service designed to help banks improve their relationships with small and medium-sized businesses. In a press release, Bill.com said the new service offers basic bill pay and invoicing...
Consumers have been burned by financial institutions in more ways than one. From data breaches to market crashes, many have lost trust in the traditional financial system’s ability to deliver the security and stability consumers need. But what would it take to change that? Ray...
It’s getting hard out there for a tech vendor — particularly those that sell to banks. Banks are cutting costs these days — hit by high compliance costs and an interest rate that the Fed keeps delaying raising — and those costs are hitting vendors like DH Corp., Fiserv Inc....
Wells Fargo disclosed Thursday (Nov. 3) it is raising the amount of money it set aside for legal fees due to the fake account scandal and added the Securities and Exchange Commission to the growing list of regulators that are looking into its sales practices....
Embattled bank Wells Fargo has entered a settlement through which the firm will pay as much as $50 million tied to a racketeering lawsuit that it allegedly overcharged hundreds of thousands of homeowners for appraisals of their homes. Reuters said the settlement would still require...
Sen. Elizabeth Warren (D-MA) has reportedly sent a letter to KPMG, Wells Fargo’s auditor, questioning why the accounting firm did not catch the fake accounts that resulted in $185 million in fines for Wells Fargo. According to a report in New York Post, KPMG has...
Chase announced Thursday (Oct. 27) it ranked highest in customer satisfaction among small business owners in the South and West regions, according to the 2016 J.D. Power study released today. In a press release, Chase said it is the fourth year in a row that Chase...
