pymnts Profile:
Wells Fargo (NYSE: WFC)
Wells Fargo & Company is an American multinational financial services company headquartered in San Francisco, California, with central offices throughout the United States.
Bank of America Launches Platform for Small Businesses and CDFIs
March 27, 2024Bank of America launched an online platform that connects small business owners with community development financial institutions (CDFIs). The new Access to Capital Connector enables small business applicants to answer questions to become pre-qualified ...Read moreThredd Enters US Card Issuing Market With B4B Partnership
March 19, 2024Payments processor Thredd has entered the U.S. debit and prepaid card issuing market. The company announced this milestone Tuesday (March 19), saying it was happening via an extension of its partnership ...Read morePayPal Appoints Ex-SoFi Executive Aaron J. Webster as Chief Enterprise Services Officer
March 13, 2024PayPal has appointed former SoFi executive Aaron J. Webster as executive vice president, chief enterprise services officer, effective Monday (March 18). In his new role, Webster will be responsible for global financial crime and fraud prevention ...Read morePayPal Taps Wells Fargo Veteran Amy Bonitatibus as Chief Corporate Affairs and Communications Officer
March 6, 2024PayPal has announced the appointment of its newest chief corporate affairs and communications officer, Amy Bonitatibus. Bonitatibus will begin her new role on May 28, and will be responsible for leading ...Read moreWells Fargo Courts Frequent Travelers With New Autograph Card
March 6, 2024Wells Fargo has added a card to its Autograph suite to woo frequent travelers. The banking giant’s Autograph Journey card, announced Wednesday (March 6), offers accelerated earnings on travel categories like hotels, airlines, ...Read moreRaiffeisen Bank International Discloses Investigation by Austrian Financial Regulator FMA
February 22, 2024Raiffeisen Bank International (RBI) disclosed Thursday (Feb. 22) that it is being investigated by Austria’s financial regulator, FMA, over alleged anti-money laundering (AML) failures. The bank said in its annual report that the ...Read moreCash App Launches Offer of Up to 4.5% Interest on Savings
February 15, 2024Cash App is now offering up to 4.5% interest on savings. “Earn up to 4.5% interest on your savings on Cash App through our partner bank and reach your goals faster,” the ...Read moreSVB Adds Bankers as Anniversary of Its Failure Nears
February 15, 2024While other lenders are cutting staff, Silicon Valley Bank (SVB) is reportedly hiring. The financial institution, whose failure in March of 2023 set off a larger banking crisis, has added about 200 bankers since then ...Read moreOCC Closes Sales Practices Consent Order Against Wells Fargo
February 15, 2024The Office of the Comptroller of the Currency terminated a 2016 consent order against Wells Fargo. The consent order concerned deficiencies and unsafe or unsound practices in the bank’s risk management ...Read moreBank of America Reports Digital Banking Alerts, Logins Rise 11%
February 12, 2024Bank 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 ...Read more
PayPal Appoints Ex-SoFi Executive Aaron J. Webster as Chief Enterprise Services Officer
March 13, 2024PayPal has appointed former SoFi executive Aaron J. Webster as executive vice president, chief enterprise services officer, effective Monday (March 18). In his new role, Webster will be responsible for global financial crime and fraud prevention ...Read moreBank of America Reports Digital Banking Alerts, Logins Rise 11%
February 12, 2024Bank 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 ...Read moreRight-Now Use Cases Can Turn Instant Payments Into an Instant Success
October 18, 2023Businesses 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 ...Read moreThe Trickledown Consumerization of B2B Payments Helps Firms Win Business
June 22, 2023There 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, ...Read moreWells Fargo Reportedly Working with Borrowers as Office Sector Struggles
May 31, 2023Wells 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 ...Read moreJPMorgan and Other Banks Reportedly Eye Expanding First Republic Support
March 20, 2023Big 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 ...Read moreTether Holdings Allegedly Used Falsified Documents to Access Banking System
March 3, 2023Companies 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 ...Read moreBanks Out to Challenge Big Tech in Brewing Digital Wallet War
February 13, 2023With digital wallets now being used more after a years-long ramp-up, there’s a new battle brewing over which wallets consumers both know and trust with their payment credentials. Big Tech pulled ...Read moreCitizens Makes Zelle Available to Businesses Through Mobile Banking App
February 1, 2023Citizens is now making Zelle available to small business customers through its mobile banking app. The financial institution said in a Wednesday (Feb. 1) press release that the peer-to-peer (P2P) payments ...Read moreBank Customers Want Advice on Best Way to Use Credit
January 30, 2023Card-issuing banks offering payment advice to clients may benefit from decreased delinquencies and higher long-term customer retention. Data suggests that consumers are increasingly reaching for their credit cards to handle payments ...Read more
Wells Fargo Courts Frequent Travelers With New Autograph Card
March 6, 2024Wells Fargo has added a card to its Autograph suite to woo frequent travelers. The banking giant’s Autograph Journey card, announced Wednesday (March 6), offers accelerated earnings on travel categories like hotels, airlines, ...Read moreChime, Citi Mobile Lead Provider Ranking of Credit Card Apps
January 23, 2024Valentine’s Day is almost here. Want to buy your sweetheart that special something they’ve been eyeing, but need a financial boost? PYMNTS is here to help with our latest edition ...Read moreCiti Mobile Leads in PYMNTS’ Provider Ranking of Credit Card Apps
December 20, 2023Making your loved ones happy is priceless. For everything else, there’s a credit card. Picking a credit card can be challenging. Whether you’re considering annual fees, APR rates or rewards, there’s ...Read moreEarnings Season Shows Card Delinquencies ‘Normalizing,’ but What Comes Next?
October 27, 2023In the parlance of these times, and as earnings season commentary has pointed out, time and again: Consumer credit is normalizing. The question remains, however, as to what comes next. The slew of ...Read moreVenmo Remains on Top in PYMNTS Credit Card Apps Ranking
October 24, 2023This month in the PYMNTS Provider Ranking of Credit Card Apps we don’t see a lot of movement in terms of rankings, but we do see some score changes. Plus, there is ...Read moreVenmo Takes Top Spot, Chime Follows in Credit Card App Rankings
August 17, 2023Embracing the ever-evolving terrain of credit card apps, the PYMNTS Provider Ranking of Credit Card Apps stands as your steadfast guide, revealing the ascent of frontrunners and the fluctuations of contenders. As ...Read moreConsumers Have Covered Credit Card Bills So Far, but Defaults Loom
July 30, 2023Until recently, consumers were largely paying off cards and other loans. Current headwinds may change that. It is a testament to consumer resiliency that credit card late payments and other delinquencies ...Read moreBig Banks’ Loan Losses Spike as Credit Card Charge-Offs Rise
July 10, 2023America’s big banks are due to report their largest increase in loan losses since the pandemic. As the Financial Times reported Monday (July 10), analysts project the six largest banks in ...Read moreCapital One and Chase Retain Top Spots in Credit Card App Rankings
April 19, 2023It is the task of the PYMNTS Provider Ranking of Credit Card Apps to keep you updated on who’s riding high and who’s dipping down, and we take it seriously. That’s ...Read moreCredit Card App Provider Ranking Is Not Interest Free
March 13, 2023What’s in your wallet? Only our Provider Ranking of Credit Card Apps knows for sure. This one is easy, but not as much as it first appears. The Top 5 When nothing changes, ...Read more
Albertsons Launches New Meals as Grocers Aim to Gain Share From Restaurants
January 12, 2024Albertsons Companies is setting its sights on convenient meal occasions with the launch of ready-to-cook meals, a move that comes as grocers increasingly look to gain share of consumers’ food ...Read moreNearly 1 in 3 Hospitality SMBs Rely on National Banks for Credit
December 27, 2023Main 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. ...Read moreShoppable Content Is Complicated; Its Future Shouldn’t Be
August 25, 2023One of the more compelling stories to come out of the pandemic was the idea of shoppable content. The hyper-convenient purchase moment and context of shoppable content, along with its emergent ...Read moreVersatile Credit, Nationwide Marketing Group, Wells Fargo Launch Financing Portal
August 15, 2023Versatile Credit, Nationwide Marketing Group (NMG) and Wells Fargo have partnered to launch The Finance Hub, a consumer financing portal for merchants. This new collaboration provides a comprehensive, tailored financing program for a broad range ...Read moreWhy Brands Are Bringing Their A-Game to Discount Retailers
June 22, 2023Who said quality had to be expensive? As the stigma around shopping at dollar stores fades and the demand for affordable alternatives and replicas increases, brands and retailers are becoming ...Read moreDollar Stores See Influx of Wealthy Consumers as Inflation Persists
June 20, 2023For wealthier Americans, there’s no longer a stigma attached to shopping at the dollar store. That’s according to a report Monday (June 19) by The Wall Street Journal, which finds that ...Read moreAuto Sales Slump Could Be a Crisis of the Sector’s Own Making
May 12, 2023The Bureau of Labor Statistics (BLS) published a little-noticed piece last month analyzing the part auto dealers’ markups played in new car price tag inflation during the post-pandemic recovery. With their ...Read moreWells Fargo CFO: Economy Will Worsen As 2023 Goes On
February 14, 2023Wells Fargo’s finance chief has a gloomy prediction for the U.S. economy. “It’s going to get worse as we go throughout the year,” said Mike Santomassimo, whose comments on Tuesday (Feb. 14) at the ...Read moreBanks Want to Prove They Can Innovate Digital Wallets, But Can They?
January 30, 2023One of the worst-kept secrets in payments was finally confirmed last week. That’s when Early Warning Services (EWS) announced its plans to launch a digital bank wallet in the second ...Read moreTarget Seek to Grow Food Sales With Expanded Tabitha Brown Partnership
January 8, 2023Target is targeting vegan consumers with its ongoing partnership with actor-author Tabitha Brown. Beginning Sunday (Jan. 8), shoppers can purchase a line of vegan food products, tableware, cookware and kitchen decor ...Read more