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Few fireworks at Wells Fargo's first annual meeting under Scharf

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Unlike recent affairs that were marred by protests, this year's meeting — held online because of the coronavirus outbreak — went smoothly as investors overwhelmingly approved the bank's slate of directors and executive compensation plan.

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Wells Fargo hires new operations head from BNY Mellon

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Lester Owens, who is scheduled to join the bank in July, will report to Chief Operating Officer Scott Powell. He will be charged with implementing a more unified structure across the 260,000-person company.

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Fed lifts six-per-month transaction limits on savings accounts

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The central bank said customers will be able to make more transfers and withdrawals "at a time when financial events associated with the coronavirus pandemic have made such access more urgent."

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Mark Cuban's alternative to PPP: Fed-backed overdraft protection

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The billionaire investor and entrepreneur sees problems with small businesses having to apply for loans to get coronavirus relief. He says a more efficient approach would be to let them run negative balances on their bank accounts.

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Congress was wrong to leave PPP disbursement up to banks

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Elected officials are better off deciding who's most deserving of federally backed coronavirus relief funds for small businesses.

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As hotels sit empty, loan delinquencies pile up

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More details have emerged about the damage the coronavirus pandemic is inflicting on the hospitality industry. One servicer alone has received 2,000 workout requests in the past month.

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Fitch flags seven consumer lenders, including Amex, Capital One

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The ratings firm also took negative action with respect to Ally, Synchrony, Discover, Sallie Mae and Navient, citing the impact that the coronavirus crisis is having on their revenues and profits.

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Did banks play favorites in PPP or were they just being prudent?

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As banks accept new applications for the paycheck program, they are dogged by complaints that they prioritized wealthy borrowers. But lenders likely fast-tracked clients they knew best under difficult circumstances, observers say.

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Digital banking is surging during the pandemic. Will it last?

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Use of banks' mobile apps and websites has risen about a third since the coronavirus crisis began, according to J.D. Power.

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Banks are waiving overdraft fees. Should they be doing more?

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Some bankers, economists, policy experts and even Mark Cuban say that creative uses of overdraft programs could be lifelines for consumers and businesses whose finances have been upended by the coronavirus crisis.

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Savings accounts Paycheck Protection Program Federal Reserve Wells Fargo Commercial lending Digital banking
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