Innovation in commercial banking often lags the retail banking side, where product improvements roll out more frequently. But as Wells Fargo’s Reetika Grewal sees it, the development process for both should be similar. Whether [...]
Happy Wednesday, compliance pals! I just returned from a long-weekend conference in New Orleans, and I feel a bit carb-loaded from all of the amazing food, but especially the beignets. Now that I’m back [...]
It’s simple: In financial services, customer data offers the most relevant services and advice. But, oftentimes, people use different financial institutions based on their needs – their mortgage with one; their credit card with another; [...]
Wells Fargo has begun informing customers that it will no longer be offering personal credit lines, with all existing lines being shut down in the coming weeks. In a six-page letter to customers obtained by [...]
A recent misstep by Wells Fargo is a warning shot to credit unions about the importance of diversifying their employees and board members. The financial services industry has long recognized the importance of diversity when [...]
A California-based company filed a class-action lawsuit against Wells Fargo citing unfair actions against some small businesses seeking government-sponsored coronavirus relief under the Paycheck Protection Program. In March, the Treasury Department announced the $349 billion [...]
Wells Fargo is bowing out of a new federal program aimed at helping small businesses retain workers and pay bills during the coronavirus pandemic. The bank announced late Sunday that it would no longer accept [...]
Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger will appear before the Senate Banking Committee this week, one of her required semi-annual appearances. The House Financial Services Committee will also begin its series of hearings [...]
Does $300 million in damages get your attention? That’s the total damages assessed against Wells Fargo by two separate Texas juries in two separate actions brought by USAA. These two actions alleged that Wells [...]
We blogged a couple of months ago with some updates on recent patent litigation between USAA and Wells Fargo, and now there are new developments in this ongoing litigation as well as a related lawsuit [...]
The Texas jury in a second lawsuit brought by USAA against Wells Fargo also determined that Wells Fargo had willfully infringed on USAA's remote deposit capture (RDC) technology patents. The first lawsuit – with a different [...]
According to a Wells Fargo research report, robots will eliminate 200,000 jobs in the banking industry within the next 10 years. These numbers seem astounding and mind-boggling. However, the robot overhaul has been in [...]
Wells Fargo has announced another image repair ad campaign, now featuring an updated logo. This is the third campaign the tainted brand has attempted since its scandalous fallout in 2016. The problem? Your logo is [...]
My morning scan of the internet for news my credit union friends can use has led me to decide to comment on two cases that could have important consequences for your credit union. First, there [...]
Greetings from your faithful blogger, who is back from a trip to Riverhead, Long Island where he helped celebrate the 50th birthday for a friend he’s known for more than 30 years now. He’[...]
