Wells Fargo

L.A warns banks: Don’t set sales goals if you want city's business

12/14/17

A measure passed by the city council, which still needs final approval, would require banks that want city contracts to disclose whether they set individual or branch-level sales requirements. It comes in response to the Wells Fargo fake account scandal.

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Mission-oriented neobank gains $47 million in funding

12/12/17

Rather than charge set fees, Aspiration offers customers name-your-fee accounts and donates to charities based on the amount of money it makes.

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10 financial services players to watch in 2018

12/12/17

Some are in new roles or replacing legends, others are embracing new strategies or eyeing big deals and at least one is currently out of banking — but could soon resurface. Here are the industry executives to keep an eye on in 2018.

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How reg relief bill could help rural underbanked

12/11/17

House and Senate bills contain a provision that would let financial firms in all states use digital scans of photo IDs to verify identities of prospective customers. That could ease the account-opening process for consumers in areas where branches are few and far between.

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HSBC escapes sword of DPA; pop star Yellen?

12/11/17

The five-year window on HSBC's deferred prosecution agreement connected to a money laundering case expires; profile says outgoing Fed Chairman Janet Yellen has become "a pop culture phenomenon."

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Trump wades into Wells Fargo saga, promising tough penalties

12/08/17

The president wrote Friday on Twitter that penalties against the San Francisco bank will be maintained, or possibly strengthened. The comments are likely to fuel a growing controversy about the independence of federal financial regulators.

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Tax hits, deposit wars, paydown blues: A 4Q preview

12/07/17

It’s only early December, but bank CEOs’ comments this week about tax reform, their thirst for deposits, consumer lending initiatives, and challenges in commercial lending offer a sneak peek at what’s coming when earnings season begins next month.

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Ken Chenault's parting warning: Banks made big error on payments

12/05/17

America’s largest lenders made an epic mistake a decade ago when they cashed out of Visa and Mastercard through initial public offerings, says Chenault, who will step down in February as CEO of American Express.

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Tax reform to unleash business lending? Not so fast

12/05/17

During an industry conference Tuesday, executives from PNC, Wells Fargo, JPMorgan Chase and elsewhere offered differing takes on whether the Republican tax plan will boost loan demand.

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There’s a gift for student lenders in the education bill

11/30/17

Introducing limits on federally guaranteed loans to graduate students, instead of letting them borrow whatever schools charge, would create a multibillion-dollar opportunity for private lenders.

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