Tag: Wells Fargo

Business Banking, Products

Robinhood makes second attempt at launching a high-yield account similar to banks

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 […]

Products, Retail Banking

Bank jobs to be decimated by new technology

October 2, 2019

Via: Finextra

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 […]


Scandal-plagued Wells Fargo names BNY Mellon’s Charles Scharf as CEO

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 […]

Activity, Channels, Corporate Banking

Wells Fargo using blockchain for corporate international money transfers

September 18, 2019

Via: Bank Innovation

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 […]

Activity, Corporate Banking

Wells Fargo Agents $5.5B Facility for DaVita

August 19, 2019

Via: ABF Journal

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, […]


Wells Fargo’s Irish arm fined for regulatory breaches

July 5, 2019

Via: Finextra

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 […]

Activity, Corporate Banking

Wells Fargo Taps Hopkins to Lead Renewable Energy

June 24, 2019

Via: ABF Journal

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 […]

Activity, Insurance

Wells Fargo Settling California Car Loan Suit for $385M

June 10, 2019

Via: Insurance Journal

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 […]

Activity, Corporate Banking

Wells Fargo Unveils New Commercial Banking Structure

June 5, 2019

Via: ABF Journal

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 […]

Products, Retail Banking

8 top banking apps

April 4, 2019

Via: Market Watch

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 editorial team looked at some of the best banking apps out there to help […]