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Tag: Wells Fargo


Activity, Corporate Banking

Wells Fargo Agents $1.5B Facility for Earthstone Energy

November 22, 2019

Via: ABF Journal

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 […]


Regulations

Wells Fargo ordered to pay USAA $200m for infringed payments patents

November 11, 2019

Via: Banking Technology

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 […]


Regulations

Wells Fargo Names Kennedy Head of Business Continuity & Resiliency

November 5, 2019

Via: ABF Journal

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 […]


Activity, Corporate Banking

JPMorgan Leads $200MM Revolver for CRH Medical

October 23, 2019

Via: ABF Journal

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 […]


Business Banking, Products

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

October 8, 2019

Via: CNBC

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 […]


Regulations

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

September 27, 2019

Via: CNBC

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, […]


Regulations

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 […]