December 01, 2023
Former CEO Tim Sloan Sues Wells Fargo for $34 Million 

Former Wells Fargo CEO Tim Sloan has filed a lawsuit against the company, seeking over $34 million in unpaid compensation.  Sloan alleged that Wells Fargo unlawfully withheld his deferred pay and...

November 28, 2023
Recruiters Tap Big Banks for AI Expertise

In the search for new AI talent, employment recruiters are reportedly targeting big banks. The last year has seen banks such as Goldman Sachs and Bank of America lose dozens of artificial intelligence (AI)...

November 26, 2023
Lloyds Considers Job Cuts as Banks Shift to Digital

Lloyds’ digital refocusing has reportedly placed more than 2,500 jobs at risk. The British banking giant is planning to review thousands of middle management roles, the Financial Times (FT) reported Sunday (Nov....

November 20, 2023
Citi Mobile Takes No. 1 in PYMNTS Provider Ranking of...

Citi Mobile made moves in this edition of PYMNTS’ Provider Ranking of Credit Card Apps. Venmo, which was previously No. 1, fell to make room for more competition between Citi...

November 19, 2023
Blackstone Top Bidder for Signature’s Commercial Property Loans

Private equity group Blackstone is reportedly the leading bidder for Signature Bank’s commercial property loans. Sources tell Bloomberg News that Blackstone is the frontrunner to gain possession of an approximately $17 billion loan portfolio from the...

November 16, 2023
Report: Regulators Issue Formal Orders to Wells Fargo to Enhance...

Wells Fargo is reportedly grappling with regulatory obligations to enhance its monitoring of financial crime. Regulators have issued formal orders to Wells Fargo, instructing the bank to bolster its ability to...

November 16, 2023
Report: FDIC Will Bill Big Banks to Replenish Insurance Fund

America’s banking giants are reportedly on the hook for replenishing the government deposit insurance fund. The Federal Deposit Insurance Corp. (FDIC) is going to approve a proposal Thursday (Nov. 16)...

November 15, 2023
Seizing Quantum Computing’s Opportunities Within Payments and Finance 

When OpenAI’s ChatGPT was released a year ago, it seemed to come from nowhere. But the emergence of generative artificial intelligence (AI) as a viable, usable commercial product was, in...

November 09, 2023
European Banks Look to Fee Income as Rate Hikes Slow

European banks are investing more in fee-generating operations while waiting for interest rates to fall. The European Central Bank is slowing the pace of interest rate hikes, leading to greater...