The election of Mark Chancy continues a trend under CEO Charlie Scharf of adding directors with deep experience in the banking industry.

Wells Fargo has started its long-awaited job cuts, breaking with some of its top U.S. competitors that have resisted workforce reductions amid the coronavirus pandemic.

An internally built system called Advanced Listening analyzes phone calls, emails, text messages and more, identifying possible compliance violations, systemic issues and opportunities to improve processes, products and customer service.

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

Eight of the top 15 firms increased headcount this year through June, while only four reduced it.

Visa Inc., the world’s largest payments network, is breaking ground by tapping the bond market to fund environmentally friendly projects.

Under a rule issued in March, banks will build an additional capital cushion that is determined by their performance in the annual tests.

Deferrals on residential mortgages and home-equity loans have been a common theme at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup since the start of the coronavirus pandemic.

“We do not yet know when we’ll return to a more traditional operating model,” a company spokesperson said.