Tag: Wells Fargo

January 30, 2020

Citigroup is making a push for investors’ dollars with a new digital robo-advisor that’s free for customers with at least $50,000 in deposits or investments at the bank. That’s the threshold needed to qualify for the bank’s Citi Priority bundle […]

January 24, 2020

Seven other former Wells Fargo executives were reprimanded by the Office of the Comptroller of the Currency (OCC), tallying fines with Stumpf which collectively come to at least $59 million. Stumpf agreed to his settlement alongside two other executives, having […]

January 14, 2020

Analysts sometimes tout diversified banks that can move revenue exposure to businesses away from the yield curve. That thread of logic proved very valid Tuesday. Here were the earnings: JPMorgan reported revenue of $28.3 billion, beating estimates of $27.8 billion. […]

December 26, 2019

Alliance Data Systems reduced the aggregate revolving credit commitments from $1,072.4 million to $750 million. Following the repayment and amendment, Alliance Data’s outstanding term loan balance is $2,028.8 million. The company also completed an upsized placement of $850 million in […]

December 23, 2019

Hudson Technologies has entered into a new revolving credit facility with Wells Fargo Bank, which provides up to $60 million in borrowing capacity from time to time, subject to a borrowing base. In conjunction with entry into the Wells Fargo […]

December 20, 2019

BRP Group’s subsidiary Baldwin Risk Partners has amended its senior revolving credit facility, increasing its capacity to $225 million, up $100 million from its previous amount of $125 million. BRP also has the ability, subject to approval, to utilize an […]

November 22, 2019

Earthstone Energy entered into a new credit facility with a maturity date of November 21, 2024, a maximum credit amount of $1.5 billion and an initial borrowing base of $325 million. Wells Fargo Securities and RBC Capital Markets acted as […]

November 11, 2019

The patents, which focused on making cheque deposits made with mobile devices simpler, were the subject of a 2018 patent infringement lawsuit filed by USAA targeting Wells Fargo’s mobile deposit solution. The process allows bank customers to use their mobile […]

November 5, 2019

Christel Kennedy has joined Wells Fargo as head of Business Continuity and Resiliency, reporting to Saul Van Beurden, head of Technology. She is based in New York City. “Christel is a proven leader with more than 30 years of experience […]

October 23, 2019

CRH Medical has entered into a new, three-year revolving credit facility which provides up to $200 million in borrowing capacity, and represents an increase from the company’s previous $100 million facility. The new facility includes a committed $125 million facility […]

October 8, 2019

Robinhood is giving banking another shot. Ten months after the failed launch of a checking and savings account, the free stock-trading start-up announced a cash management account with a 2.05% interest rate. The APY is more than twenty times higher […]

October 2, 2019

As many as 200,000 jobs will disappear as machines replace labour during a new ‘golden age of banking efficiency’, the 225-page report states. And it’s not just the robot revolution doing the damage, as US banks elevate tech spending annually […]

September 27, 2019

Wells Fargo named Charles Scharf, chairman and CEO of Bank of New York Mellon, as its new chief executive officer and president on Friday, effective Oct. 21. “Charlie has demonstrated a strong track record in initiating and leading change, driving […]

September 18, 2019

Wells Fargo is turning to blockchain to speed up cross-border money transfers for its corporate clients. The bank is using the technology to create a money transfer service it’s branding as Wells Fargo Digital Cash. The technology is still in […]

August 19, 2019

DaVita has entered into a new $5.5 billion senior secured credit agreement with Wells Fargo Bank as administrative and collateral agent. The new credit agreement consists of a five-year secured revolving loan facility in an aggregate amount of $1 billion, […]

July 5, 2019

The Central Bank of Ireland (CBI) has slapped a €5.9 million penalty on Wells Fargo Bank International Unlimited Company, the second biggest fine it has ever issued, for what it called a prolonged series of regulatory reporting breaches and “serious […]

June 24, 2019

Wells Fargo’s renewable-energy-finance pioneer Barry Neal will retire July 1, and Philip Hopkins will assume sole leadership of the company’s Renewable Energy & Environmental Finance business, which is part of Wells Fargo Commercial Capital. For more than a decade, Neal […]

June 10, 2019

Wells Fargo has agreed to pay at least $385 million to settle a California lawsuit alleging it signed up thousands of auto loan customers for costly car insurance without their consent, resulting in many having their vehicles repossessed. The bank […]

June 5, 2019

Wells Fargo revealed its new leadership team and regional structure for its Commercial Banking business, led by Kyle Hranicky, a 25-year company veteran. With this new structure, Wells Fargo Commercial Banking has more than 6,000 team members across 24 divisions […]

April 4, 2019

Technology makes life easier. And convenience is everything. That’s why banking online, particularly mobile banking, is so popular. But which banking app is best? The Credit.com editorial team looked at some of the best banking apps out there to help […]