Amid growing deepfake threats and successful biometric bypass attempts by fraudsters, the bank added an extra layer of security to strengthen the authentication process.
Some critics see banks' innovation labs as wasteful, unapplied research, but Wells Fargo has embraced the trend by establishing six such labs, a so-called accelerator program and now an innovation group. The bank's Steve Ellis explains its rationale.
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Early Warning Services, which operates the peer-to-peer network, is among the latest to take a creative approach to educating consumers about the relentless onslaught of fraud schemes.
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In reality, central bank digital currencies would provide only some of the benefits of a real cryptocurrency and would have numerous drawbacks.
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Wells Fargo is expanding into New York City's Hudson Yards, Mastercard launches a new generative AI-powered shopping tool, Banc of California closes PacWest acquisition and more in the weekly banking news roundup.
A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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The financial services industry is still reluctant to embrace social media, even as demographics make a compelling case to do the opposite.
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Young American investors feel well prepared to handle their own budgets and are optimistic about the future — but that does not mean they trust financial advisers.
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Investment bankers, whose institutions have already been bailed out to the tune of $817 billion across the globe, now have something else to thank taxpayers for: deals.
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Ginnie Mae has restricted loanDepot's ability to securitize Veterans Affairs mortgages because of apparent churning of recent originations.
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Assets increased 6% in 2018 to nearly $52 billion as loan originations surged and the company redeployed $2 billion of cash into higher-yielding securities.
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Fixing the housing finance system is "the last piece of unaddressed business from the financial crisis," according to a summary of to-do items released by the Banking Committee's chairman.
At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
While Republicans and Democrats found some agreement that consumers of all stripes should be included in the banking system, they differed wildly on who is to blame for banks dropping customers.
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Not all reforms are created equal. Only those truly taking a consumer-first approach — such as curtailing fees and allowing for grace periods — will see lasting benefits in customer loyalty, writes the acting comptroller of the currency.
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Most executives are keenly aware of the hardships customers face, but do they realize that many of their workers are also living paycheck to paycheck?
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A handful of snafus, some a decade old, shouldn’t tar an entire line of payment products that are a lifeline for many consumers and have helped millions of Americans access and manage their finances during the COVID-19 pandemic.
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A new report links a surge in consumer complaints to two financial influencers selling dubious advice and products to millions of followers online.
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Don McCree, who has led commercial banking at Citizens since 2015, plans to retire next year. His successor, Ted Swimmer, who was in charge of capital markets, took over on Tuesday.
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The Fairmont, West Virginia, bank is taking a $7.6 million hit to rid itself of $73 million in long-duration, low-yielding securities, though the sale of its payments subsidiary the week before cushions the blow.
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House Financial Services Committee ranking member Maxine Waters, D-Calif., asked bank regulators to give banks the supervisory clearance to extend lines of credit and modify loan terms for federal employees furloughed after the government shut down last week.
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Federal Reserve Gov. Stephen Miran sidestepped whether policy setting pressure from the administration is a welcomed development, but reiterated that he wants to avoid succumbing to "groupthink."
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The Federal Deposit Insurance Corp. approved proposals Tuesday that would define "unsafe or unsound practices" and ban the use of "reputation risk" in supervisory exams.
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Department officials pushed back on criticism that a banner on its homepage violated a statute meant to curb partisanship in government operations.
In a break from a 20-year history marked by losses and scandal, California International Bank in Westminster is on pace for its biggest-ever profit, its CEO says.
The 23rd annual ranking of women leaders in the banking industry.




































































