It was Varo's second try with the Federal Deposit Insurance Corp., but it has now moved within a few steps of obtaining what has eluded fintech firms of late: a green light from banking regulators.
USAA won $200M from Wells Fargo in patent fight — will others be on the hook?; three takeaways from regulators' approval of the BB&T-SunTrust merger; don't believe the doom and gloom on Fannie, Freddie; and more from this week's most-read stories.
Avid Modjtabai, who runs Wells Fargo's payments and technology innovation unit, is leaving the firm as new Chief Executive Officer Charlie Scharf continues to shake up top management.