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Truist unveils logo that emphasizes high-touch, high-tech focus

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The regional bank, formed from the merger of BB&T and SunTrust, will begin marketing its new brand in conjunction with next month's Super Bowl.

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Wells Fargo loses another patent lawsuit to USAA

Wells Fargo branch
A customer exits a Wells Fargo & Co. bank branch in Los Angeles, California, U.S., on Thursday, April 19, 2018. Wells Fargo & Co.'s financial ties to gunmakers and the National Rifle Association have prompted the American Federation of Teachers to remove the bank from its list of recommended mortgage lenders. Photographer: Patrick T. Fallon/Bloomberg
Wells was ordered to pay USAA $102.8 million for infringing on its mobile deposit patents. It follows a separate lawsuit loss in November also related to patents.

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'Extraordinarily inefficient': Scharf's blunt assessment of Wells Fargo

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The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal.

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PNC learns the downside of paying cash bonuses to new customers

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CEO William Demchak said the bank has witnessed "a lot of mischief" among customers who open checking accounts to collect bonuses and then never use the accounts again.

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10 fintech forecasts for the '20s

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A seasoned investor in startups offers his top predictions for the coming decade. Among them: Big tech firms will become big players in financial services.

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Inside Union Bank's development of a new core system

Pierre Habis, president of PurePoint Financial
The New York bank was burned by a core replacement project that failed in 2011. This time it's using its PurePoint unit as a test lab and co-developing the software.

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Visa's $5 billion Plaid deal takes a possible rival off the table

Al Kelly, chief executive officer of Visa.
Visa CEO Alfred Kelly says the card brand has not seen signs of a slowdown.
In the battle to control consumer data, Visa has made a major score by agreeing to acquire Plaid, a technology company that it could have seen grow into a competitor.

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Can California's mini-CFPB pick up slack left by federal agency?

CFPB Director Richard Cordray
Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), speaks during a Senate Banking Committee hearing in Washington, D.C., U.S., on Thursday, April 7, 2016. Testimony from Cordray today may shed light on the status of several regulations that could curtail revenue from payday loans, prepaid cards and other financial products. At a March 16 hearing, Cordray hinted that a rule to limit prepaid cards won't be finished until June. Photographer: Andrew Harrer/Bloomberg *** Local Caption *** Richard Cordray
Former CFPB Director Richard Cordray and consumer advocates have designed a proposed state consumer agency that would subject more financial firms and fintechs to state oversight.

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What the Visa-Plaid merger means for banks, fintechs

A Visa credit card is arranged for a photograph with other credit cards.
Visa's deal to acquire the data aggregator Plaid is likely to have ripple effects throughout the industry, including reduced tension between banks and fintechs over data sharing.

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Regulators aren't only ones at odds over CRA reform

Representative Gregory Meeks, a Democrat from New York
Representative Gregory Meeks, a Democrat from New York, questions Tim Sloan, president and chief executive officer of Wells Fargo & Co., not pictured, during a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, March 12, 2019. Wells Fargo & Co. stock is underperforming Tuesday pre-market as Sloan prepares to appear before a House committee focused on what it's calling a "pattern of consumer abuses." Photographer: Andrew Harrer/Bloomberg
As the regulatory agencies have struggled to reach a consensus, a proposal championed by Office of the Comptroller of the Currency has divided lawmakers and been assailed by community groups.

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