BankingIndustry News

Citibank customers take note: BREAKING: Citi Fined $400M Over ‘Longstanding’ Deficiencies

From Law360: Law360 (October 7, 2020, 5:22 PM EDT) -- U.S. banking regulators on Wednesday announced enforcement actions against Citigroup Inc. and its national bank subsidiary Citibank over "longstanding" risk management, data governance and internal...

Wells Fargo headlines: Wells Fargo’s diversity initiative to hire more Black leaders probed by Labor Department

From USA TODAY: Wells Fargo, which pledged to double its ranks of Black managers and executives over the next five years, has received an inquiry from the Labor Department questioning whether its diversity initiative violates...

San Francisco Business Times on Wells Fargo: Wells Fargo’s latest layoffs signal historic transformation underway

From San Francisco Business Times: Wells Fargo said Friday it has started layoffs as the bank seeks to cut costs by almost 20%. It’s the start of what could be the biggest transformation of the...

Law360 on Wells Fargo: Wells Fargo Sued For Blocking Wire From Alleged PDVSA Unit

From Law360: Law360 (October 2, 2020, 11:28 PM EDT) -- A Florida company has accused Wells Fargo of wrongly freezing a €1 million wire transfer from a client it says the bank has incorrectly held...

Hold Wells Fargo responsible: Wells Fargo Sued For Blocking Wire From Alleged PDVSA Unit

From Law360: Law360 (October 2, 2020, 11:28 PM EDT) -- A Florida company has accused Wells Fargo of wrongly freezing a €1 million wire transfer from a client it says the bank has incorrectly held...

Take action against Wells Fargo: Wells Fargo to permanently shutter almost all of its museums

From San Francisco Business Times: Wells Fargo & Co. (NYSE: WFC) is permanently closing its museums in Charlotte, Minneapolis and other cities, so its museum at the bank's San Francisco headquarters will be the only...

San Francisco Business Times on Wells Fargo: Wells Fargo CEO’s first year: 10 highlights, lowlights and what’s still on the to-do list

From San Francisco Business Times: Tapped a year ago to turn around the scandal-plagued bank, Wells Fargo CEO Charlie Scharf — who was hired Sept. 27, 2019 and took the reins on Oct. 21. —...

Fox Business on Chase Bank: JPMorgan Chase to launch first Mastercard-branded card in 5 years

From Fox Business: JPMorgan Chase will launch its new Freedom Flex card on Sept. 15, its first Mastercard-branded card in five years with new reward offers for its Freedom Unlimited Card. The no-fee credit cards will...

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Top DISH Network story from Forbes: DISH Network And Walt Disney Company Do A Rare ‘Handshake’ Carriage Agreement For Cable Networks

From Forbes: In a rarity in the cable network industry, after the Walt DisneyDIS Company pulled down its networks...

Take action against PayPal: PayPal’s ‘once beloved story’ is ‘back in vogue’ despite some noise

From MarketWatch: The stock fared better later in the month after Amazon.com Inc. AMZN, -5.04% announced that it was finally...

Earn a big cash back bonus with Chase Ink Business Cash and Unlimited cards, Warns USA TODAY

From USA TODAY: — Our editors review and recommend products to help you buy the stuff you need. If you...