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Tag: Wells Fargo


Activity, Trading

Bank Earnings: One Big Takeaway from JPMorgan, Citi, Wells Fargo

January 14, 2020

Via: TheStreet

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. […]


Activity, Corporate Banking

Wells Fargo Downsizes Alliance Data Revolver to $750MM

December 26, 2019

Via: ABF Journal

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 […]


Activity, Corporate Banking

Wells Fargo Provides $60MM Revolver to Hudson Technologies

December 23, 2019

Via: ABF Journal

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 […]


Activity, Corporate Banking

JPMorgan Upsizes BRP Group Revolver to $225MM

December 20, 2019

Via: ABF Journal

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 […]


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 […]