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wells fargo
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2.1KBank RegulationRep. Waters Eyes More Oversight Of Wells Fargo, Deutsche Bank
Rep. Maxine Waters, the Los Angeles congresswoman, is expected to set her sights on Wells Fargo and Deutsche Bank when she becomes...
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2.1KBank RegulationOCC Warns Wells Fargo Over Tech, Security Issues
Wells Fargo’s regulatory woes continue. According to a report in The Wall Street Journal on Wednesday (Nov. 7), the bank in “recent weeks” has...
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3.4KLoansWells Fargo Found More Customers Who Were Wrongly Foreclosed
Wells Fargo said Tuesday (Nov. 6) that an underwriting error internally prompted it to reject home loan modifications, which resulted in the...
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3.1KBankingChief Administrative Officer, Chief Auditor At Wells Fargo Take Leaves Of Absence
Wells Fargo announced Wednesday (October 25) that its chief administrative officer Hope Hardison and chief auditor David Julian have begun leaves of...
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1.9KRegulationWells’ ‘Cross-Selling’ Biz Draws $65M Fine
The New York Attorney General announced that Wells Fargo & Company has agreed to pay a $65 million fine in connection with...
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2.8KEarningsWells Fargo’s Q3 Beats On Revenues, Falls Short On Earnings
As Wells Fargo seeks to cut costs while retooling its business for the age of digital banking, the company reported slightly better...
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3.6KRetailBig Lenders Make Push To Liquidate Sears
Sears Holdings may be liquidated in the wake of a meeting Wednesday with several of the struggling retailer’s biggest lenders that did...
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2.7KRegulationOCC Unhappy With Wells’ Response To Auto Lending Scandal
The Office of the Comptroller of the Currency (OCC) isn’t satisfied with the progress Wells Fargo has made in reimbursing customers who...
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5.4KB2B PaymentsWells Fargo App Update Eyes Recurring SMB Payments Control
Wells Fargo announced Monday (Oct. 1) the release of Control Tower, an addition to its mobile app that allows small business and...
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5.3KPersonnelWells CEO Says He’s In For The Next Decade
Wells Fargo Chief Executive Tim Sloan told Bloomberg late last week that he plans to stay on at the company for the...
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1.8KRegulationWells’ Plan To Compensate Auto Insurance Holders Rejected
Wells Fargo has seen U.S. regulators turn down its plan to pay back customers who purchased auto insurance they didn’t need. Reuters,...
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2.5KRetailWells Fargo Says Amazon Will Become Top Apparel Seller In US This Year
One analyst believes that Amazon will soon become the top apparel seller in the U.S., dethroning current champ Walmart this year. Wells...
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2.8KB2B PaymentsXero Braces For Bank Integrations With New API
Small business accounting software provider Xero is bracing for a slew of bank and FinTech integrations with the launch of its Open...
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2.8KSecurity & FraudDOJ Probes Wells’ Wholesale Banking Ops
Add another investigation to the roster of headlines swirling around Wells Fargo. As The Wall Street Journal reported on Thursday (Sept. 6),...
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3.4KBankingJPMorgan Poised To Dethrone Wells, Claim Largest US Bank Title
There’s a good chance that JPMorgan Chase could soon become the largest U.S. bank in terms of outstanding loans, dethroning current champ...
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2.7KB2B PaymentsExpense Account Fraud Hits Wells Fargo
Fraud hits firms large and small. Wells Fargo is the latest industry behemoth to make headlines. And yes, the beleaguered bank is again...
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2.9KB2B PaymentsWells Fargo Fires Employees Over Falsified Expense Reports
Fraud committed against enterprises hits firms large and small. Among the most noteworthy headlines this week, Wells Fargo’s latest scandal focuses on doctored...
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1.6KInvestmentsRetail, Tech Get New Life In Burgeoning Economy
Some prominent hedge fund managers are feeling optimistic about the U.S. economy, especially when it comes to retail and technology. According to...
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2.5KLoansConsumer Borrowing Hits $13.29 Trillion In Second Quarter
American’s increased the amount of money they borrowed in the second quarter, with consumer borrowing reaching $13.29 trillion during the quarter ending...
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1.9KLoans
Wells Considers Lending To Students With Government Debt
Wells Fargo might give its shrinking student lending business a boost by focusing on borrowers with U.S. government loans. The lender would...
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1.5KData DiveData Dive: Buying, Selling And Foreclosing
Summer 2018 is running down its final weeks. The heat is still going full speed ahead in most of the U.S., but...
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1.5KB2B PaymentsLabor Woes Haven’t Derailed Entrepreneurs’ Optimism
The talk on Main Street these days is all about record-high levels of optimism among small business (SMB) owners. However, with entrepreneurs...
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4.7KBankingWells Fargo Computer Glitch Forced Hundreds Of Foreclosures
Wells Fargo, the embattled national bank, disclosed in a Securities and Exchange Commission filing that hundreds of individuals saw their homes in foreclosure...
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1.5KLoans
Wells Fargo To Pay More Than $2B Penalty Over Mortgage Loans
The U.S. Department of Justice (DOJ) announced that Wells Fargo will pay $2.09 billion in penalties to settle claims related to mortgage loans...
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2.9KB2B PaymentsSMBs’ FX Woes Thrown Back In The Spotlight By Amex Allegations
Allegations that American Express secretly hiked foreign exchange rates for small business customers is thrusting the challenges and points of friction that...
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2.9KBanking
Wells Fargo Refunding Customers For Add-On Products
Wells Fargo, the embattled national bank, is reportedly refunding tens of millions of dollars for a range of products, including pet insurance...
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3.1KEarnings
Wells Fargo’s Q2 Disappoints After Scandals
Wells Fargo, which is working to recover from a series of regulatory scandals that have impacted trust with customers, reported lower than...
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5.3KData DiveData Dive — Déjà Vu Edition: Ripple, Wells Fargo And MoviePass
There are few experiences more disconcerting than the sudden onset of déjà-vu — the experience one is doing something they have done before. But...
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2.4KB2B PaymentsAsure Merger Consolidates Payroll Market
The U.S. payroll services market saw consolidation this week with Asure Software announcing Tuesday (July 3) that it acquired USA Payroll. A...
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4.7KLegal
Wells Fargo Hit With Lawsuit Over Financing Fees
Wells Fargo is facing a new lawsuit, this time from the Texas jeweler J. Edwards Jewelry Distributing and the company’s president, John Silverman,...
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2.7KNewsFive At Five: A Deep Look At Amazon-Whole Foods Discounts
Welcome to Five at Five, your late look at payments and commerce news. Coverage includes Karen Webster’s discussion of the benefits available...
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3.1KPayment Methods
Wells Fargo Launches Revamped Propel Rewards Card
Wells Fargo announced Monday (June 25) an overhaul of its Propel Card, its no-annual-fee rewards cards. In a press release, Wells Fargo said...
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2.0KBank RegulationIn Asia, Finance Trade Groups Advocate For FinTech In Regulatory Efforts
Financial firms have their work cut out for them when battling the bad guys, trying ensure that funds go where they need...
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3.8KNewsFive at Five: Walmart Has A New Blockchain Idea
Welcome to Five at Five, your late look at the day’s payments and commerce news. Today, we have two stories about the...
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3.6KBank RegulationWells Fargo Receives Approval To Settle $142M Suit
After receiving preliminary approval for a settlement last July, Wells Fargo said that it has received final approval from a California court...
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1.5KPayment Methods
Wells Fargo Merchant Services SMB Pricing Not At Parity With Square
Wells Fargo Merchant Services has decided to simplify the prices it charges small businesses (SMBs) to accept credit and debit card transactions...
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3.2KLegalCould A Bank-On-Bank Patent War Be Looming?
A recently filed federal lawsuit over remote deposit capture technology (RDC) could signal the start of a wider patent-infringement struggle among banks,...
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3.3KBitcoinBitcoin Daily: Wells Fargo Says No To Crypto, Apple Bans Crypto Mining Apps
There are apps for all sorts of tasks, but Apple doesn’t want apps to do one thing in particular — mine crypto, CNBC...
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3.9KLegalUSAA Sues Wells Fargo Over RDC Technology
USAA, the insurance company and bank serving current and former military members and their families, filed a federal lawsuit against Wells Fargo...
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3.1KSizzle/FizzleSizzle Fizzle: Last Mile Sizzles, Banks Fizzle And Snapchat Splits The Difference
Snapchat’s Sizzly Fizzle, or Fizzly Sizzle Usually in this column the sizzles and the fizzles are pretty distinct. But every so often...
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2.1KBankingOCC Does A 180: Fake Accounts Not A Common Problem
Wells Fargo was fined $185 million in 2016 for opening millions of potentially fake accounts, prompting the Office of the Comptroller of...
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3.6KBankingOCC Report Uncovers Problems With Sales Practices At Banks
After reviewing sales practices at more than 40 large and mid-sized banks, the Office of the Comptroller of the Currency (OCC) found...
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5.1KPersonnelWells Fargo Head Of Innovation Group To Retire
Wells Fargo announced on Tuesday (May 22) that Steve Ellis, head of the innovation group, will retire after nearly 31 years with the...
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2.3KRegulationRegulators Eyeing Social Media In Europe
Against the backdrop of social media controversy — remember Facebook, of course, and 87 million users’ data exposed to Cambridge Analytica —...
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4.9KSecurity & FraudBanks Take Military Approach To Cybersecurity
In an effort to combat cyberattacks, banks are taking a military approach to their online security. “This is not that different from...
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4.8KBank Regulation
Wells Fargo Accused Of Manipulating Business Banking Data
It’s happened again. Wells Fargo on Thursday (May 17) was facing accusations that its employees altered customer data, this time in a...
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3.3KData DiveData Dive: Coming, Going And Returning With Apple, PayPal And Wells Fargo
Twenty years ago today the last new episode of Seinfeld aired, much to the moaning and groaning of fans everywhere — especially...
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2.4KSizzle/FizzleWorking Capital Sizzles, Wells Fargo Fizzles And MoviePass Faces An Uncertain Future
It’s never a good sign when the headlines begin widely speculating about a firm’s impending demise. That’s currently the media narrative for...
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4.1KBankingWells Fargo Overdraft Fees To Decline As It Projects A Friendlier Face
Wells Fargo, the embattled bank, warned investors at the company’s investor day meeting Thursday (May 11) that it won’t make as much...
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5.7KDigital PaymentsWells Fargo To Start Testing Pay With Wells Fargo
Wells Fargo announced news on Thursday (May 10) of the launch of Pay with Wells Fargo, a new service for its mobile...
