April 17, 2023
Small Businesses and Consumers Complete 639 Million Transactions on Zelle...
Consumers’ and businesses’ use of Zelle increased about 30% year over year in the first quarter. The number of transactions completed using the peer-to-peer (P2P) payment service rose 29% to...
April 17, 2023
Apple Unveils Savings Account for Apple Card Users
Apple has debuted a Goldman Sachs savings account for Apple Card users. The account offers users a “high-yield APY of 4.15 percent — a rate that’s more than 10 times...
April 13, 2023
Wells Fargo Names Saul Van Beurden to Lead Consumer Banking
Wells Fargo has named Saul Van Beurden CEO of Consumer & Small Business Banking. Van Beurden will succeed Mary Mack on May 15, as Mack will retire from the company this summer after nearly four...
April 12, 2023
Banks That Backed First Republic Set Aside $100 Million Reserves
America’s biggest banks are reportedly setting aside cash in anticipation of first-quarter losses. The banking giants that helped shore up struggling First Republic Bank with a $30 billion infusion last...
April 11, 2023
Big Banks Earnings Projected to Show $100 Billion in Withdrawals
America’s banking giants are expected to reveal a huge outflow of cash in the days ahead. As the Financial Times (FT) reported Tuesday (April 11), analysts project that depositors looking...
March 30, 2023
Wells Fargo Fined $97.8 Million for Sanctions-Related Violations
Wells Fargo has been fined $97.8 million for sanctions-related violations from 2010 to 2015. The bank reached settlements of $67.8 million with the Federal Reserve Board and $30 million with...
March 28, 2023
Zelle Operator Readies Summer Rollout of Paze Digital Wallet
Early Warning Services, operator of the Zelle money transfer system, is piloting a digital wallet called Paze to compete with digital wallets from Big Tech. Paze already has a waiting...
March 27, 2023
ClearBank Says Inflows Jumped 20% During SVB Crisis
Silicon Valley Bank’s loss is apparently U.K. embedded banking firm ClearBank’s gain. The company’s CEO said customer flows into its platform rose by 20% during the week SVB collapsed, Bloomberg...
March 24, 2023
Bank of America Reshuffles Lending Unit Employees
Bank of America has reportedly shifted some employees from its wealth management and lending unit. Fewer than 200 employees were moved out of the unit, with most being redeployed to...
