Bank earnings have unusually high stakes this quarter, with investors’ dividends at stake and banks expected to add billions to their loan-loss reserves due to the pandemic’s economic effects, The Wall Street Journal (WSJ) reported. Get the Full Story Complete the form to unlock this...
As it tightens the requirements for some mortgage transactions, Wells Fargo is mandating that new customers seeking to refinance a jumbo mortgage take $1 million in balances to the financial institution at a minimum compared to a $250,000 threshold in the past, CNBC reported, citing unnamed sources. Get the...
Banks arranging government loans intended for businesses hurt by the pandemic could reap as much as $24 billion in associated fees, The Wall Street Journal (WSJ) reported Tuesday (July 7). Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
The digital transformation of financial services that began well before the pandemic has only accelerated in recent months. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to...
Deutsche Bank, the Frankfurt-based multinational financial services company, is in talks with regulators to rescue Wirecard Bank, the deposit-taking division of the German payment company that is facing one of the country’s biggest accounting frauds, the Financial Times reported. Get the Full Story Complete the form to...
The Bank for International Settlements (BIS) Innovation Hub is planning on adding four new locations in Europe and North America, according to a press release. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
The Federal Reserve Board indicated that financial institutions (FIs) can stay strong even as they weather turbulent economic conditions, as it unveiled the results of its stress tests for this year and further sensitivity analyses conducted in consideration of the pandemic. Get the Full Story...
As the fallout from Wirecard’s missing cash scandal unfolds, an Orange executive said the Paris-based lender and telecommunications company’s banking unit may end its partnership with the German payments firm as soon as this summer, Reuters reported. Get the Full Story Complete the form to...
A record $2 trillion has been deposited into U.S. bank accounts since the coronavirus first hit the U.S. in January, according to a report by the Federal Reserve Board. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
