FinTech companies are getting support from the Office of the Comptroller of the Currency, the main banking regulator, which wants to give FinTechs a charter. And against that desire by the regulatory body, the charters have been defined as “limited purpose” with what American Banker termed “high standards...
Wells Fargo customers got support from two Democrat lawmakers, who want consumers to be able to sue the bank in court over the fake account scandal rather than go through private arbitration. The bill, which was introduced by Senate Banking Committee Ranking Minority Member Sen....
Austria’s Raiffeisen Bank is reportedly gearing its ATMs up for the future, ordering 1,200 new machines from Diebold Nixdorf. According to a report, Raiffeisen Bank ordered ATMs that have high-tech features, including advanced bill payment and contactless abilities, such as QR codes and NFC readers. The machines...
The drumbeat against Wells Fargo got a bit louder on Capitol Hill, as Sen. Elizabeth Warren (D-MA) slammed the bank on Monday (Nov. 28), citing Wells’ attempts to have customers go through arbitration rather than pursue remedy in court. In a Facebook post that appeared that...
For the growing number of customers looking to sue over Wells Fargo’s unauthorized account scandal, the company is hoping to resolve any disputes in arbitration outside of court. The lender has requested that the federal lawsuits filed by 80 customers in Salt Lake City be...
Payment Cloud Technologies announced Tuesday (Nov. 22) the launch of a new digital banking platform dubbed bank.VISION. In a press release, the company said the new banking platform lets organizations provide banking-grade financial services to their customers. According to the company, bank.VISION provides customers with the...
The Trump effect on big banks — particularly their stock prices — has gotten an awful lot of play in the last week or two. But more quietly, America’s small banks and small bankers have been gearing up to get excited for the forthcoming changing of the...
The government had decided that, in the wake of account creation scandal that has already seen the bank at the business end of $185 million in fines, Wells Fargo could probably also use some additional oversight. Going forward, the firm’s banking unit will need to...
Is Wells Fargo effectively a beneficiary of that old adage that “bad publicity is better than no publicity at all?” A column by Seeking Alpha posited that the firm will benefit from Donald Trump’s presidency, with a tailwind enjoyed by his domestic spending agenda. The boost...
