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...
Deposit Solutions, the European FinTech company, announced Tuesday (Oct. 25) it has surpassed €1 billion in savings deposits transmitted via the company’s consumer-facing site, ZINSPILOT, as the business prepares for further expansion in Europe in 2017. In a press release, the company claimed no other FinTech...
British banks are planning their escape route in light of the looming Brexit negotiations. Experts say the bigger banks are planning to leave the U.K. in early 2017, while smaller ones could be gone by Christmas. “Their hands are quivering over the relocate button,” said...
Wells Fargo’s fake account scandal has hurt the financial services company, not only from a reputation standpoint but also from a business perspective, given some states are refusing to do business with the embattled bank. But a new report from SurveyMonkey shows the impact the scandal...
