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California Looks Into Allegations Wells Fargo Signed Up Customers For Life Insurance

PYMNTS

California has joined in the lawsuit bandwagon, ordering an investigation into claims retail bankers at Wells Fargo signed customers up for life insurance polices without their consent. And the hits keep on coming for Wells Fargo. Since then, the company’s CEO, John Stumpf, was forced to step down.

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Lawmakers Request Information From Prudential On Latest Wells Fargo Scandal

PYMNTS

Elizabeth Warren (D-MA) sent a letter to the chief executive of Prudential Financial requesting a briefing and documents having to do with press reports that Wells Fargo branch bankers signed up customers for life insurance policies without their knowledge or permission. Cummings and Sen. Warren said in the letter. “We

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Can fintechs enhance your bank’s marketing campaign?

Independent Banker

We asked several banking leaders how they’ve employed fintech to ramp up their marketing campaigns, hone their analytic strategies and gain new patrons in the process. Customized, well-thought-out interactions—especially in the online banking space—are integral to wooing new customers and retaining existing ones. By Katie Kuehner-Hebert.

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TechScape: How Silicon Valley Bank UK was saved

TheGuardian

In this week’s newsletter: While its quick slip into financial hardship has left American bankers reeling, its UK division is surprisingly fine. Sign up for the full article here Last week, if you had heard of Silicon Valley Bank UK, you probably worked in tech. Continue reading.

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Core Unicorn Deals Rattling the Future of Financial Technology

Gonzobanker

Bank executives should take these new deals’ valuations as a sign that the free market sees the future of finance as unbundled from the traditional industry structure. These levels of revenue and EBITDA multiples have never been seen in the history of core banking platforms. Let’s take a closer look at each deal: Finxact Goes To Fiserv.

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2021 GonzoBanker Awards

Gonzobanker

THE BANKER AWARDS. Union has been a stalwart of the California marketplace since the ’50s, and this gives Andy Cecere and team a great expansion into the Golden State and also some nice wholesale banking business. Lots of tech and operations to clean up, it appears, but no solid bank is better qualified than the team from Minneapolis.

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2020 GonzoBanker Awards

Gonzobanker

Bankers started the year with good business plans, strong balance sheets, and optimism. Even George Bailey would have given you the thumbs up. “I learned a long time ago that reality was much weirder than anyone’s imagination.” ” – Hunter Thompson. Well, HST and Big Bird had it right. Everything.

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