Three major US banks make up half of 2020’s $11.39bn fine total
Together, Goldman Sachs, Wells Fargo, and JPMorgan Chase paid $7.85 billion of this total.
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Wells Fargo
Buffet sells another $2.5bn in Wells Fargo shares
The 136 million shares Berkshire owns are worth less than $3.3bn.
Wells Fargo extends 25-year processing partnership with TSYS
US bank resigns for TSYS payments technology.
Wells Fargo resumes job cuts after pandemic break
Layoffs, branch closures and cuts to third-party spending are on the table.
Wells Fargo compliance chief Mike Roemer steps down
The major US bank is undergoing a risk restructure.
PayPal nabs Wells Fargo’s Peggy Mangot for venture capital role
Mangot was behind the launch of Wells Fargo’s challenger app Greenhouse.
Wells Fargo hires Ather Williams III from Bank of America
Major US bank says its new head of strategy will drive innovation.
Wells Fargo mulls job cuts amid loan losses
The major US bank is looking at a strategic overhaul.
Report: Five success factors for an ideal ISO 20022 migration
ISO 20022 represents an opportunity for banks to reinvent the way they operate.
Goldman eyes up merger with Wells Fargo, PNC & US Bancorp on its shortlist
Goldman Sachs, “weakening biz model” would “force a merger,” says Charles Gasparino at Fox Business.
Wells Fargo agrees to pay $3bn fine for fraudulent account furore
US bank agrees to pay hefty settlement fine on ongoing probe.
Wells Fargo cuts 700 jobs, overhauls exec suite and invests $5m in crypto start-up
The bank is splitting its three-part structure into five.
Former Wells Fargo CEO barred from banking industry, fined $17.5m
Seven other former Wells Fargo executives were reprimanded by the OCC.
JP Morgan embroiled in yet another racism scandal
The New York Times obtained two recordings highlighting racial discrimination in the bank.
Wells Fargo hires Santander’s US chief as new COO
Scott Powell will be the bank’s new chief operating officer.
Wells Fargo ordered to pay USAA $200m for infringed payments patents
USAA has further lawsuits pending over cheque deposit system.
BIAN takes aim at core banking modernisation with new initiative
It wants to create an efficient and effective approach to core change.
Sibos 2019: Banks face existential threat from fintechs “willing to lose money”
Industry is “misjudging” competitive risk in payments.
Wells Fargo pilots internal settlement service using DLT
The pilot is planned for 2020.
TransferMate lands major deal with WellsFargo
The financial details haven’t been disclosed.
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