Wells Fargo (NYSE: WFC)

Merrill Lynch has reportedly agreed to settle a lawsuit accusing it of underpaying brokerage customers. The Bank of America-owned brokerage will pay $39 million in the settlement, Reuters reported Wednesday (Sept. 30), citing court documents. The ...

For years, digital assets were viewed as a parallel financial system, one whose earliest architecture, decentralized finance, was explicitly designed to route value around banks rather than through them. That ...

The Federal Reserve just made corporate cash strategic again. The Fed on Wednesday (Sept. 16) raised its benchmark interest rate by a quarter percentage point, bringing the federal funds target range ...

Wells Fargo says it has brought its international money transfer service to its banking app. ExpressSend Mobile makes Wells Fargo the only major American bank to offer a dedicated mobile remittance service, ...

AI Has a Frankenstein Dilemma Mary Shelley published Frankenstein in 1818. More than two hundred years later, it’s said to sell about 40,000 to 50,00 copies a year. It’s said that’s ...

Binance has begun offering customers of its cryptocurrency platform access to stock options. “Stock Options are now live, offering physically-settled options contracts on U.S.-listed stocks and ETFs, giving users the right to buy ...

Stablecoins and tokenized deposits can look deceptively similar from the perspective of a corporate user. Both can represent dollars digitally. Both can potentially settle around the clock. Both can support ...

Interoperability is what the financial space has touted as a prerequisite for stablecoins to reach commercial scale. But, at the same time, the banks, card networks, stablecoin issuers, blockchain operators ...

Wells Fargo has spent the last few years overhauling its wealth management business. Now, the banking giant is trying to convince hundreds of financial advisors to join that division, Bloomberg News ...

Widespread adoption of tokenized deposits could make it easier for depositors to move their funds to pursue higher interest rates and therefore require banks to raise their rates to remain ...

Chase told customers that it will add some restrictions on their use of the peer-to-peer payment network Zelle with Chase beginning March 23. The changes in the bank’s Zelle service agreement ...

The B2B landscape is full of what buyers and suppliers don’t know. In today’s rapidly evolving landscape, B2B businesses across the transaction frequently find themselves navigating uncertainty. Whether it’s the hidden ...

Early Warning Services has made its Paze online checkout available to Sephora’s loyalty program members. The checkout option — offered by participating banks and credit unions — is now available to ...

Google is transitioning its Fitbit Pay contactless payments to Google Wallet in most countries. “Google Wallet is now available for all Fitbit devices that support contactless payments,” a message on the Fitbit Pay web page said. “Fitbit Pay will no ...

Bank of America clients had a record 23.4 billion digital interactions with the bank in 2023. Those interactions include logging into their accounts 12.8 billion times and receiving 10.6 billion proactive digital ...

Businesses and individuals are always going to need to get paid. That’s why the context around that payment, whether it’s speed, experience, convenience, personalization, cost, security or a combination of them ...

There are few B2B billing systems that businesses enjoy using. The amount of paper still being pushed around across the B2B space, even as the ecosystem around it goes increasingly digital, ...

Wells Fargo reportedly expects to see losses from real estate loans. CEO Charlie Scharf said Wednesday (May 31) at an event that there are significant risks in the office sector, Bloomberg reported Wednesday. “We look city by ...

Big banks are reportedly considering expanding their efforts to support First Republic Bank. After 11 banks deposited $30 billion into the bank Thursday (March 16), they are now considering other options that ...

Companies behind the tether stablecoin allegedly used falsified documents to access the banking system, according to a report. In 2018, after Wells Fargo had stopped processing transactions from several accounts used ...

About 1,850 Bilt cardholders received mistaken collection notices, the Wall Street Journal reported Tuesday (Aug. 4). A Bilt spokesperson said in the report that the incident was caused by a third-party ...

The Consumer Financial Protection Bureau is working with Bilt to address credit card customer concerns, according to a Tuesday (June 2) press release. The concerns stem from the FinTech’s transition from ...

Digital transformation has evolved what were once tactical, back-office workflows into strategic levers. And chief financial officers are among the biggest beneficiaries of this new playing field. Across accounts payable (AP) and ...

For younger Americans in the Generation Z cohort, spending is out, while saving is reportedly in. That’s according to a report Tuesday (June 24) by the Wall Street Journal (WSJ), citing ...

Department store chain Dillard’s sued Wells Fargo on Thursday (May 22), alleging that the bank breached a co-branded credit card relationship that has since ended. Dillard’s alleges that this breach cost ...

Through the past few weeks, bank earnings and American Express’ latest results point to a commercial lending environment where demand is muted in real estate, stronger in other sectors — ...

Wells Fargo has reportedly hired the former head of JPMorgan Chase’s branded credit card business, Ed Olebe, to lead its own credit card business. Olebe left JPMorgan Chase late last year, was succeeded in ...

Visa will reportedly lay off 1,400 employees and contractors, including about 1,000 in technology positions, by the end of the year. The company aims to streamline its international business with these ...

Co-branded credit card FinTech Cardless is entering the small business space. The move is designed to offer small- to medium-sized businesses (SMBs) financial products and rewards designed to improve their financial ...

Playing a hot hand of new deals and balanced global consumer spending, Mastercard posted double-digit revenue growth for the second quarter, as announced in its earnings call Wednesday (July 31). “The ...

Retailers and banks are reworking the mechanics of customer contact, as artificial intelligence (AI) moves call centers away from scripted menus and toward conversational problem-solving that can complete transactions in ...

For younger Americans in the Generation Z cohort, spending is out, while saving is reportedly in. That’s according to a report Tuesday (June 24) by the Wall Street Journal (WSJ), citing ...

Amazon CEO Andy Jassy told shareholders during a virtual meeting Wednesday (May 21) that the tariffs the President Donald Trump administration imposed on imported goods have not affected sales. “We also ...

With tariffs threatening to raise prices, creditors that lend to the retail space are reportedly worried. That’s according to a report Saturday (May 3) from Bloomberg News, which cited the example ...

Hate to say you read it here first, but here’s a prescient quote left on the cutting room floor from PYMNTS CEO Karen Webster’s interview with QED Investors partner Amias ...

After a nearly $1 trillion holiday season, U.S. consumer spending shows no sign of slowing. The exact figure is $994 billion, according to recent findings from the National Retail Federation. And ...

September’s retail sales data showed a (slight) acceleration of spending from August, though we’re well off past peaks. And speaking of past peaks — looking at year-over-year growth rates and patterns, ...

T.S. Eliot wrote that the world would end not with a bang but a whimper. It may be the case that the unstoppable wave of consumer spending may end that way ...

Retail sales climbed higher than anticipated in March, fueled in part by a jump in eCommerce. Data released Monday (April 15) by the U.S. Department of Commerce showed retail sales rising 0.7% ...

Main Street small and medium-sized businesses (SMBs), which faced challenges during the pandemic and managed to stay afloat, are aiming to stabilize their finances in the current inflationary market conditions. ...