During a probe that grew out of the Wells Fargo scandal, the Charlotte-based bank has acknowledged instances of "potentially unauthorized" accounts, but said that the number of examples was "vanishingly small."
Giants like Facebook, JPMorgan Chase and Walmart are all pushing blockchain for myriad use cases, and now Wells Fargo has joined the fray with its own spin on the distributed ledger technology.
The move adds heft to the blockchain-based Interbank Information Network; many of those terminated in the phony accounts scandal say they’ve been blacklisted.
The Pittsburgh company is not interested in bank acquisitions, CEO Demchak says; why Citi, Wells, JPMorgan are seeing a spike in API calls; FHFA's Mark Calabria details next steps on GSE reform; and more from this week's most-read stories.
The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.
The most widely-referenced interest rate benchmark will cease to function after 2021, and the financial system is still coming to grips with that complicated reality.
For the third time in five months, the San Francisco bank made a downward revision Monday to its guidance on net interest income. An executive cited the impact of lower interest rates.
