Wells Fargo and Amazon announced this morning plans to offer Amazon Prime Student customers a discounted interest rate on their loans through the lender.
According to Wells Fargo Securities, year-to-date issuance of unsecured REIT debt through the first six months of 2019 stands at $581 billion, down 6% year over year.
And for the past 18 months, Wells Fargo(WFC) has been dogged by a scandal related to millions of fake customer accounts that were used to juice the bank's books.
Chime, the biggest new name to pop up, has opened 2 million fee-free online checking accounts andis adding more customers each month than Wells Fargo or Citibank.
The big laggard was Wells Fargo, which still has not completely found its footing following a fake accounts scandal that surfaced in 2016, prompting numerous fines, government probes and lawsuits.
The implementation of tight cost controls has fueled a surge in profitability that put Bank of America's return on assetsmuch closer to that of other industry leaders like Wells Fargo and JP Morgan.
The banking group also took part in completing a blockchain prototype,in 2016, along with Wells Fargo and Swift, that allows banks to reconcile payments sent via Swift using a distributed ledger.
The first cross-border transaction between banks using multiple blockchain applicationstook place between the Commonwealth Bank of Australia and Wells Fargo, resulting in a shipment of cotton to China from the United States.
As a part of this, Wells Fargo Bank has been training its staff for an“emergency scenario,” where they would close branches and only allow three people to enter at a time under the watch of armed guards, the sources say.
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