BankInovation

APRIL 4, 2022

Wells Fargo will leverage nCino’s digital banking platform in its consumer and small business banking division, the vendor revealed during its fourth-quarter earnings call last week. This is an expansion of the $1.95

Digital Banking 98

Digital Banking Technology 98

PYMNTS

MAY 17, 2018

Wells Fargo on Thursday (May 17) was facing accusation that its employees altered customer data, this time in a business banking unit, according to the Wall Street Journal. Wells Fargo’s business banking serves organizations with annual sales that range from $5 million to $20 million. It’s happened again.

Data 100

Data Regulation Meeting Risk Management 100

PYMNTS

JULY 17, 2017

Following a fake accounts scandal and thousands of employees committing fraud, Wells Fargo has been in hot water over the past few months, and it looks like the company is set to make some big moves. If Wells Fargo continues at this pace, some may begin to question whether or not the banking entity will have a future.

Fraud 100

Fraud Cards Company 100

PYMNTS

DECEMBER 20, 2017

Wells Fargo has announced that Mary Mack will lead its consumer lending unit. The consumer lending unit includes student lending and personal lines of credit businesses, as well as two businesses that are undergoing regulatory scrutiny: mortgage and auto lending.

Lending 108

Lending Retail Training Regional 108

PYMNTS

SEPTEMBER 28, 2016

The New York’s Metropolitan Transportation Authority (MTA) has placed any business and bond transactions and Wells Fargo Securities’ ability to approve as a senior manager for bond transactions on hold pending a review of the bank’s questionable practices, according to Fidelity.

New York 100

New York Security Analysis Cards 100

BankInovation

APRIL 23, 2024

Uplinq, a credit decisioning support platform for small business lenders, named former Wells Fargo leader Derek Ellington as its strategic adviser. “Most recently, [in] my role running small business at Wells Fargo, which is one of the largest small-business operations in the industry, I gained a lot of insight into gaps that continue to exist […] (..)

Operations 71

Operations Industry 71

American Banker

APRIL 6, 2020

Wells Fargo said it can't fully meet demand from small businesses rushing to participate in a U.S. relief program because of constraints imposed by the Federal Reserve on the bank's growth.

Meeting 57

Meeting Lending 57

BankInovation

MAY 29, 2020

Green Dot’s banking-as-a-service business made headlines this week, including expanded products for both Walmart and Remitly customers. The company, which has long made money from prepaid reloadable cards, is finding new ways to connect with consumers through its platform business.

Fraud 64

Fraud Resources Cards Company 64

American Banker

APRIL 8, 2020

The Federal Reserve is temporarily altering the growth restriction it placed on Wells Fargo in 2018 so that the bank can make additional loans to small and midsize business that need funding to weather the coronavirus pandemic.

Lending 57

Lending Compliance 57

PYMNTS

NOVEMBER 12, 2020

Wells Fargo & Co is seeking to sell its private-label credit card and point-of-sale (POS) financing unit as part of an ongoing strategic review of its businesses. Selling the private-label credit card unit would be a business reversal for the financial services group. percent in 2019 and its share of borrowings at 3.63

Cards 285

Cards Conference Groups Report 285

PYMNTS

OCTOBER 14, 2020

Wells Fargo has fired over 100 employees for allegedly improperly collecting COVID-19 relief funds, according to sources quoted by Bloomberg. The staffers reportedly defrauded the Small Business Administration (SBA) by "making false representations in applying for coronavirus relief funds for themselves," according to Bloomberg.

Resources 281

Resources Report Company Payments 281

The Paypers

JANUARY 15, 2021

Wells Fargo has reportedly began talks to sell its asset management business, which manages more than USD 607 billion on behalf of customers, to a private equity consortium, Reuters reports.

Management 36

Management Report 36

BankInovation

JANUARY 18, 2022

Wells Fargo will continue to drive its digital capabilities in 2022, building around an enhanced mobile banking suite and rapid growth in real-time payments during the previous year. trillion bank reported fourth-quarter 2021 revenue of $20.9 billion, up 13% year over year. Net income clocked in at $5.8

Mobile 98

Mobile Report Payments Retail 98

PYMNTS

JULY 26, 2020

Wells Fargo is engaging in significant cost-cutting, including layoffs, in a bid to become more lean amid the pandemic-induced financial crisis, The Wall Street Journal (WSJ) reported. Wells Fargo is also strengthening rules when it comes to commercial lending, WSJ reported. CEO Charles W.

ATM 257

ATM Conference Lending US 257

PYMNTS

OCTOBER 1, 2020

As banks look to streamline access to finance or make it easier to safely share financial information with apps, Barclays Business Banking and Wells Fargo are joining forces with FinTechs on digital initiatives. Wells Fargo & Envestnet. PYMNTS rounds up the latest partnerships and initiatives below.

Fintech 228

Fintech Data Risk Management Management 228

The Paypers

DECEMBER 5, 2022

Wells Fargo has rolled out a one-stop banking platform equipped with artificial intelligence and Machine learning to help clients personalise their accounts.

69

69

American Banker

FEBRUARY 8, 2021

A race for talent is heating up as Wells Fargo winds down the roughly $40 billion international segment of its wealth management business, with several firms competing to scoop up advisers and their lucrative client lists.

Management 31

Management 31

PYMNTS

MAY 6, 2020

Federal and state officials are investigating Wells Fargo regarding the bank’s management of Paycheck Protection Program (PPP) loans. Over 100,000 loan applications were processed as of April 27, Wells Fargo spokesperson Manuel Venegas told Reuters per a Tuesday (May 5) report. and Alexhd, LLC in California.

San Francisco 245

San Francisco California New York Security 245

PYMNTS

SEPTEMBER 1, 2020

Wells Fargo is launching a new, low-cost bank account — with access as well to a new digital payments service — in its latest move to push beyond a series of scandals. Wells Fargo on Tuesday (Sept. bank account, the bank noted in its announcement.

San Francisco 234

San Francisco Payments Online Meeting 234

American Banker

APRIL 20, 2020

Bank of America and U.S. Bancorp were also named in a lawsuit filed in Sunday in which the banks are accused of prioritizing large loans distributed through the Paycheck Protection Program in order to maximize fees.

America 92

America Lending 92

PYMNTS

NOVEMBER 13, 2020

13) civilly charged former Wells Fargo CEO John Stumpf and Carrie Tolstedt, ex-head of Wells Fargo’s Community Bank, with allegedly misleading investors in connection with the bank’s unauthorized accounts scandal. The SEC has already settled charges with Wells Fargo as a company over the scandal.

Fraud 230

Fraud California Community Bank Security 230

Bank Innovation

OCTOBER 3, 2019

However, for Bank of America, a “human-digital” approach is the cornerstone of its small business banking approach. As of this year, Bank of America said it surpassed Wells Fargo as the nation’s top small business […]. It’s a strategy that’s yielding results for the bank.

Strategy 253

Strategy America User Experience National 253

PYMNTS

DECEMBER 9, 2020

Bill.com and Wells Fargo are partnering on a new feature called Bill Manager to help small- to medium-sized businesses (SMBs) access automation for the accounts payable (AP) and accounts receivable (AR) process, according to a press release emailed to PYMNTS.

Mobile 283

Mobile Management Software Payments 283

The Paypers

JULY 10, 2020

Wells Fargo has announced donations over USD 400 million toward helping small businesses recover from the coronavirus pandemic.

28

28

PYMNTS

JUNE 2, 2020

Wells Fargo will no longer be giving loans to independent auto dealers, according to a report from CNBC. The reason, according to a quote from Wells Fargo, has to do with the coronavirus pandemic and its uprooting of normal business life. The bank typically only makes auto loans through car dealerships.

Lending 130

Lending Risk Management Maine Branding 130

PYMNTS

AUGUST 12, 2019

Wells Fargo announced it has hired Colleen Taylor to run its Wells Fargo Merchant Services, which shepherds the direction and oversight of its merchant services business as well as a joint initiative with Fiserv, according to a release by the company. Taylor has 30 years of experience in the payments field.

New York City 179

New York City Pennsylvania New York Community Bank 179

Bank Innovation

DECEMBER 28, 2018

Imran Haider, head of Wells Fargo Gateway and its APIs, says the bank is positioned to be a leader in developing the behind-the-scenes software that will provide the product customization and flexibility customers will come to expect.

Software 170

Software Online Innovation Mobile 170

PYMNTS

AUGUST 22, 2019

The Navajo Nation announced that it has settled its lawsuit against Wells Fargo & Co for $6.5 The Navajo Nation sued Wells Fargo in federal and tribal courts in 2017, claiming it targeted tribal members with “predatory sales tactics.” Back in March, Wells Fargo reached a $240 million settlement with U.S.

National 108

National Alabama Colorado Taxes 108

American Banker

SEPTEMBER 27, 2016

New York MTA has put business with Wells Fargo Securities and approval as a senior manager for bond transactions on hold pending its review of the bank’s practices, following revelations that Wells Fargo bank employees secretly created accounts without clients’ approval.

New York 28

New York Security Management Regional 28

Banking Exchange

OCTOBER 26, 2020

“We are exiting them because they are not core to serving our core customer base on the consumer and large corporate side. We are not exiting them because of the asset cap.” Management Feature Feature3 Retail Banking Customers.

Management 60

Management Retail 60

Bank Innovation

MAY 24, 2019

Wells Fargo, through its partnership with cross-border B2B payments provider TransferMate, is showing its global payments ambitions.

Strategy 170

Strategy Payments Management 170

American Banker

APRIL 13, 2020

Just days after the Fed lifted Wells Fargo's asset cap so it could make more Paycheck Protection Program loans, it warned customers its queue is long and they may want to go elsewhere before program funds are exhausted.

Compliance 71

Compliance Lending 71

PYMNTS

JULY 31, 2019

Wells Fargo has named new executives and advisors to its team. The company revealed that David Kowach has been named head of Community Banking, while Jim Hays has come onboard as president and head of Wells Fargo Advisors.

Community Bank 147

Community Bank Lending Regional Strategy 147

PYMNTS

NOVEMBER 5, 2020

Extend and Oliver have joined the ranks of Wells Fargo 's Startup Accelerator, which a press release stated will afford them education, mentorship and investment to guide early-stage growth. We look forward to working together to explore new payment capabilities that to date have only been available to the largest corporate clients.

Cards 183

Cards User Experience Customer Experience Regulation 183

PYMNTS

JUNE 1, 2020

Kevin Reen and Bill Juliano, who recently worked for J.P.Morgan Chase and Santander Bank respectively, will now serve as Wells Fargo ‘s new corporate risk leaders, in the company’s attempt to have better oversight going forward. For Wells Fargo, he will act as the CRO for Consumer Lending.

Risk Management 130

Risk Management Management Strategy Operations 130

PYMNTS

APRIL 8, 2020

Wells Fargo is getting a break thanks to the COVID-19 pandemic. Under the terms of the deal, Wells Fargo can provide additional support to small businesses. Under the terms of the deal, Wells Fargo can provide additional support to small businesses. billion in fines it had already paid.

Maine 140

Maine Lending California Compliance 140

American Banker

OCTOBER 19, 2021

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Management 101

Management Fintech 101