JP Morgan embroiled in yet another racism scandal
The New York Times obtained two recordings highlighting racial discrimination in the bank.
Wells Fargo
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.
Wells Fargo makes record $240m settlement over fake bank accounts
Bank officials denied wrongdoing in agreeing to the settlement.
Wells Fargo well and truly has banking problems
Some problems still linger for mobile and online users.
US bank customers enter Glassbox’s digital world of pane
Clever customer management for JP Morgan Chase, Bank of America, Wells Fargo, and Citi.
Top ten lendtech stories in 2018
No groans, just loans. Our top ten lendtech stories in 2018.
Itaú, Wells Fargo and StanChart make $100m club loan on blockchain
Proof of concept used R3’s Corda Connect platform.
Sibos 2018: Alpha-bets S-Z
A brief look at four fintech firms that are worth watching out for at the Sibos show.
Top fintech stories this week – 28 September 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Wells Fargo plans to cut 26,500 jobs
Significant job cuts expected over the next three years, according to CEO.
Wells Fargo wholesale banking unit probed for fraud
US Justice Department checking out bank employees and management pressure.
Cardlytics hooks Wells Fargo as partner
Bank will launch Cardlytics Direct nationally and across all digital channels.
Wells Fargo customers lose homes due to IT glitch
The bank incorrectly denied hundreds of people mortgage modifications.
Core components of an AI programme
Don’t be afraid to start small.
London is the fintech crown jewel, says Wells Fargo
London is where it’s at, according to Bipin Sahni, head of innovation.
Wells Fargo under fire from USAA over remote deposit capture patent
USAA claims it is the original inventor of the technology.
Expensify and Wells Fargo team for deeper bank integration
Wells Fargo will pilot Expensify’s deeper bank integration programme.
Wells Fargo whacked with $1bn fine for lending violations
For US auto-loan administration and mortgage practices.
Customer experience at the centre of innovation agenda
Innovating is the only way to stay ahead in today’s dynamic marketplace.
2,000+ bank branches closed in US in 2017
Digital is all the rage now for US banks.
Wells Fargo to scrap 800 more bank branches by 2020
Due to customers’ preference for online and mobile banking – and desire to cut costs.
Wells Fargo Fake Bank Account Scandal Grows
The scandal of employees at Wells Fargo creating 2.1 million fake bank accounts and credit card numbers to boost sales figures has just gotten bigger.
Zelle Makes Presence Known in P2P Arena
The recent performance of Zelle Network, the P2P payments platform with the funny name, is no laughing matter for competing P2P providers. Early Warning Services, a provider of real-time payments, authentication and risk mitigation services, announced April 17 that its Zelle Network processed more than 170 million P2P payments in 2016, totaling $55 billion in transaction value.
Wells Fargo Settles Account-Scandal Claims but Runs Afoul of Federal Regulator
Wells Fargo will pay $110 million to settle a class action lawsuit brought by U.S. consumers over a scandal about fake accounts its employees set up for customers without their knowledge. But the trouble continues for the financial institution, which has received a dim evaluation from a federal regulator.
Wells Fargo Faces New Pressure from Top Democrat over Fake Accounts
The top Democrat on the U.S. House Financial Services Committee wants to interview executives from Wells Fargo over a scandal about fake accounts its employees set up for customers. Last year, the CFPB announced a $100 million fine against Wells Fargo for what the agency called “widespread unlawful sales practices.” The agency said the fine was the largest such penalty it has ever issued.
