Retail & Commercial

In a new twist on an old scam, cybercriminals have tried to get thousands of people to surrender their Wells bank account information by sending authentic-looking emails containing malicious links that lead to a fake website bearing the company's name.

Former Comptroller of the Currency Gene Ludwig says making online lenders, credit unions and other nonbanks comply with the Community Reinvestment Act would be a powerful tool in addressing racial and economic injustices.

Funds from a certificate of deposit at Berkshire Bank will help fuel lending to minority-owned small businesses. Mellody Hobson explains why merely "working on diversity" is not good enough. And Wells Fargo ties compensation to progress on diversity targets.

The Office of the Comptroller of the Currency will use year-end 2019 asset totals in its calculating its next assessment, saying national banks "should not be penalized" for adding emergency loans to their books during the pandemic.

Consumer spending has improved as state lockdown orders are lifted but many continue to hold off on taking trips and entertainment activities.

⁠John Corbett says building scale, lowering costs and strengthening technology offerings have become more critical for banks to stay competitive.

On Mar. 31, 2020. Dollars in thousands.

In a new twist on an old scam, cybercriminals have tried to get thousands of people to surrender their Wells bank account information by sending authentic-looking emails containing malicious links that lead to a fake website bearing the company's name.

Decentralizing staff makes strong internal controls even more important, Josh Cyphers and Derek Halpern of Nvoicepay write.

Consumers are parking their funds at financial institutions as lending slows and interest rates remain near zero, making it difficult for credit unions to deploy these deposits.