wells fargo

Bank of America May Ask Courts to Resolve CFPB Zelle Investigation
Bank of America May Ask Courts to Resolve CFPB Zelle Investigation
October 30, 2024  |  Banking

Bank of America may ask a court to resolve the Consumer Financial Protection Bureau’s (CFPB) investigation of the bank’s processing of payments through the Zelle...

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Obligo Raises $35 Million to Grow Its Flexible Security Deposit Solutions
Obligo Raises $35 Million to Grow Its Flexible Security Deposit Solutions
October 21, 2024  |  Real Estate

Obligo has raised $35 million in new funding to accelerate the growth of its flexible security deposit solutions for the residential rental market and to...

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Earnings Season Shows Consumer Pressures on Auto Loan Payments
Earnings Season Shows Consumer Pressures on Auto Loan Payments
October 21, 2024  |  Loans

Earnings reports this season, particularly from banks, have taken note of the resilience in consumer spending, especially on debit and credit cards, in various areas...

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Banking Giants Say Consumer Spending Remains Resilient Despite Inflation
Banking Giants Say Consumer Spending Remains Resilient Despite Inflation
October 13, 2024  |  Consumer Insights

America’s biggest banks say consumers are still spending in spite of inflation. As Reuters reported Friday (Oct. 11), earnings from two of the country’s biggest...

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Wells Fargo: Rate Cut Should Ease Pressure on Lower-Income Consumers
Wells Fargo: Rate Cut Should Ease Pressure on Lower-Income Consumers
October 11, 2024  |  Economy

Lower inflation and interest rates may give some relief to consumers who need it most, Wells Fargo CEO Charlie Scharf said Friday (Oct. 11). Speaking...

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OpenAI Liquidity Reaches $10 Billion With New Credit Facility
OpenAI Liquidity Reaches $10 Billion With New Credit Facility
October 03, 2024  |  artificial intelligence

The world’s biggest companies can’t seem to stop giving OpenAI money. One day after securing $6.6 billion in new funding from an array of tech...

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Fiserv Says Wells Fargo Merchant Acquiring Joint Venture to Expire in April
Fiserv Says Wells Fargo Merchant Acquiring Joint Venture to Expire in April
September 27, 2024  |  Partnerships

Fiserv disclosed Wednesday (Sept. 25) that it expects its merchant acquiring joint venture with Wells Fargo to expire April 1, 2025. The joint venture, Wells...

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Report: Wells Fargo Submits Third-Party Review to Federal Reserve
Report: Wells Fargo Submits Third-Party Review to Federal Reserve
September 26, 2024  |  Regulation

Wells Fargo reportedly submitted a third-party review of its risk and control overhauls to the Federal Reserve, seeking to end the Fed’s cap on its...

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Overdraft Revenue Dwindles: Tech Solutions Emerge Amid Regulatory Headwinds
Overdraft Revenue Dwindles: Tech Solutions Emerge Amid Regulatory Headwinds
September 24, 2024  |  Banking

Last year, overdraft fees charged by banks — representing a revenue stream tied to account use — slipped by 24% to $5.8 billion. The industry...

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