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Image: Wells Fargo
"We've got to be very careful and respectful of what we disclosed in terms of conversations we have with our regulators and that's really important," Wells Fargo Chief Executive Tim Sloan told analysts.
Wells Fargo appears to have offered two different reasons for why it failed to inform investors about the investigation into 2 million phony accounts. That could play a role into whether the Securities and Exchange Commission files charges against the bank for disclosure violations.

Top Stories

Legal and technical hurdles stand in the way of remote account opening becoming commonplace. But banks are ramping up their efforts to make it happen, and some in Congress are trying to help by eliminating restrictions on digitally capturing and storing information from customers' ID cards.  more »
The new Spanish-language settings on B of A's app, USAA's new voice-guided remote-deposit capture and moves by others show how financial institutions are using technology to better serve the needs of customers.  more »
Older Americans control more than two-thirds of the deposits, so why do millennials get all the attention in digital banking? Banks are perhaps missing out on a major opportunity to build value by not focusing on this group.  read more »
Amid shrinking yields, rising delinquencies and repeated warnings from regulators about frothy market conditions, several banks said on earnings calls that they plan to scale back or hold the line on indirect auto lending.  read more »
FinTech Forward
Home BancShares in Arkansas would rather buy banks that meet its financial parameters than do one large deal to catapult over $10 billion in assets. The bank also spent most of this year idling with M&A so it could prepare for stress testing.  read more »
Corporate culture is difficult to define and document. But bankers have a responsibility to set high ethical standards in the way they pay and promote their employees, according panelists at a New York Fed conference Thursday.  read more »
In a move designed to help further calm lender fears about mortgage repurchase liability, Fannie Mae is preparing to offer immediate representation and warranty relief to lenders that use its suite of automated quality assurance technology.  read more »
The investment bank will take "a very deliberate and methodical approach" to building its online lending platform, Chief Financial Officer Harvey Schwartz told investors Tuesday, implicitly drawing a contrast to once-highflying startups like Lending Club and Propser.  read more »
The California company will report a quarterly loss after credit issues surfaced in its technology lending division. Opus had expressed an interest earlier this year to expand the business after making a key hire.  read more »
What it takes to excel goes far beyond the daily work a job entails. It's about having the courage to be who you are, stand up for what you believe in, overcome great adversity, and make the world better in a way that is uniquely yours. Here are four executives who have done just that.  read more »
Banks are just as vulnerable to the kind of nation-state cyberattack Yahoo suffered, and can avoid some of the mistakes it made, says Samuel Visner of the consulting firm ICF and an adjunct professor at Georgetown University.