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After Wells Ditches Incentive Comp, Will Other Banks Follow?

American Banker

Under pressure from regulators and investors, banks that tout their sales cultures may have no choice but to follow Wells' lead and stop rewarding branch employees for hitting sales targets.

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The Future for Banks Lies in Fewer Fees

American Banker

Under pressure from regulators and consumer advocates, brick-and-mortar banks are now offering overdraft-free accounts. But online-only and community banks still have them beat as the type and number of fees associated with big-bank checking have multiplied.

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Why Big Banks Would Do Well to Spin Off Credit Cards

American Banker

It is premature to say whether criticism of cross-selling and calls to break up the big banks will lead to action, but there is one area where a spinoff could actually be in the banks' interest.

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Wells' Stumpf Called to Testify for Third Time About Fake Accounts

American Banker

Wells Fargo Chief Executive John Stumpf may get a third grilling by lawmakers over the fake account scandal that continues to embroil the San Francisco bank.

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Without Cross-Selling, Will Wells Have to Scale Back Branches?

American Banker

Some analysts are suggesting Wells Fargo should start closing branches, in order to move beyond the phony-accounts scandal, make up for an expected drop in fee income from reduced cross-selling — and position itself for a digital future.

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Does Cross-Selling Deserve to Be Demonized?

American Banker

The Wells Fargo scandal has given cross-selling a bad name, but experts say that, done right, it is a crucial revenue driver in this era of razor-thin net interest margins. Their advice: Only sell products that customers need and compensate employees for retaining customers, not simply opening accounts.

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After Brutal Hearing, What's Next for Wells Fargo?

American Banker

John Stumpf may have hoped that Tuesday's hearing on Capitol Hill would mark a key turning point in Wells Fargo's blossoming scandal, but his harsh questioning by lawmakers — and his struggle to answer many of their questions — suggests that the embattled megabank's problems are just beginning.