News Topic: Wells Fargo

Jury's out on whether BB&T-SunTrust will serve the community or Wall Street; 'we were willing to shock historical norms,' says Otting on OCC's makeover; is it too late for Congress to stop CECL?; and more from this week's ... Read full article

Trump may nominate Judy Shelton, who prefers “market-determined rates”; a software glitch may have prevented flagging of suspicious transactions for a decade. ... Read full article

BB&T’s chief executive has not prioritized meeting with local leaders and consumer advocates to discuss its merger plans, missing a valuable opportunity to create a new kind of large bank. ... Read full article

A Wells Fargo customer was interrogated, fingerprinted and mistakenly arrested for check forgery after a series of mistakes on the bank's part. He was cleared, and Wells says it made an error, but they are now fighting in civil court. ... Read full article

A federal judge has given preliminary approval to the proposed settlement of a lawsuit under which insurance companies have agreed to pay $240 million for losses the San Francisco bank incurred from the widespread opening of fake accounts. ... Read full article

The company offers an operating system for financial applications akin to Apple's iOS, and more than a thousand applications run on it. ... Read full article

Agency says it will vet Timothy Sloan’s successor; Eric Blankenstein, who came under fire for 2004 racist blogs, to step down. ... Read full article

Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories. ... Read full article

ECGS urges investors to oust the chairman and three executives; financial companies using AI to help adults manage their elderly parents’ finances. ... Read full article

A sharp disagreement between foreign and U.S. regulators is emerging on how far banking supervisors should go in asking financial institutions to stress test their loan and investment portfolios for any risks associated with climate change. ... Read full article

It is designed exclusively to address concerns of regulators who have complained about the bank's lack of progress in recovering from a series of scandals. ... Read full article

Cushion uses AI to help consumers negotiate refunds of overdraft and other fees. But it argues there's a bank play in its technology if bankers take the long view. ... Read full article

Eileen Murray has talked about leaving Bridgewater; A deal with Roger Ng could lead to charges against Goldman and its employees. ... Read full article

The board has promised to hire an outsider, but senior executives are lobbying for acting CEO C. Allen Parker to lead the company. ... Read full article

Big banks may have found a way to lower needed reserve levels; with Brexit delayed, Goldman will hold off on expansion. ... Read full article

Wells Fargo & Co. said it expects to refund certain fees paid on debit-card accounts as it reviews disclosures that may have confused customers. ... Read full article

April Frazer describes herself, forthrightly, as a very driven person. Which may explain how she became global head of banks at Wells Fargo before her 37th birthday. ... Read full article

How Jamie Dimon's salary ties into the broader discussion about pay inequity; how 5G could change the future of banking; Comerica's first new CEO in 17 years; and more from this week's most-read stories. ... Read full article