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Wells Fargo to refund checking fees after lawmaker flags issue


CEO Charlie Scharf said in a letter to Congress that a review is underway to determine how many customers were affected by confusion over monthly fees and that the bank will begin issuing refunds next year.


Community Banker of the Year: Morris Bank's Spence Mullis


Mullis has thrived as a traditional community banker, leading the redevelopment of historic buildings in a small, struggling Georgia town and successfully growing Morris Bank in a mostly rural market.


Shake-up continues at Wells Fargo with poaching of Santander's CEO


Scott Powell, who resolved numerous regulatory problems as the head of the Spanish bank's U.S. operations, will face similar challenges at scandal-plagued Wells. As the bank's chief operating officer, Powell will report to CEO Charles Scharf, a former colleague at JPMorgan Chase.


USAA won $200M from Wells Fargo in patent fight. Will others be on the hook?


The remote deposit capture tech at the center of the dispute is used by 6,500 institutions. That may mean other institutions will have to pay licensing fees to USAA.


Stablecoins like Facebook's Libra may pose systemic risks, Fed says


Global stablecoins could hurt financial stability if they are improperly designed and unregulated, according to a Fed report.


Is time running out to save black-owned banks?


A recent bank failure and a new legislative effort are again drawing attention to the struggles of black-owned banks since the crisis — and the fact that only 21 are left.


Google partners with Citi to offer customers checking accounts


Google has partnered with Citigroup and a California credit union to offer consumer checking accounts, a person familiar with the matter said.


Bank of America, IBM collaborating on a financial services cloud


Executives from the bank and the tech company have been working for months to create a cloud designed to address the challenges that often slow financial institutions' adoption of cloud computing.


First Horizon to buy Iberiabank in one of year's biggest bank mergers


The acquisition will create a Southeastern regional with $75 billion in assets across 11 states.


Is the end of Libor a threat to financial stability?


Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.