financial services

Health & Safety

Wells Fargo CEO: 'We Have Not Done What's Necessary To Address Our Shortcomings'

6:44pm March 10, 2020

by Brakkton Booker

Charles Scharf told lawmakers that the company's structure and culture "were problematic." But he projected confidence that it could win back the public's trust after years of scandals.

Wells Fargo, which has endured a cascade of scandals in recent years, announced Monday that two board members have resigned.

Politics & Government

Wells Fargo Officials Resign Days Before They Were Set To Testify Before Congress

1:25pm March 09, 2020

by Brakkton Booker

Elizabeth Duke and James Quigley were scheduled to testify. Democrats last week said Wells Fargo was slow to "correct serious deficiencies in its infrastructure for managing risks to consumers."

Tom DiGiovanni's job as chief financial officer for Canndescent involves managing bags of cash by the millions which must be counted, then hauled in armored vehicles.

Bags Of Cash, Armed Guards And Wary Banks: The Edgy Life Of A Cannabis Company CFO

11:33pm April 10, 2019

by Yuki Noguchi

Being chief financial officer in a pot business requires lots of workarounds, including hiring heavily armed guards. Few financial firms are willing to service a market that remains federally illegal.

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Indiana Governor Mike Pence at a 2015 press conference.

Politics & Government

How Picking Mike Pence As VP Might Cost The Trump Campaign Donations

5:00am July 16, 2016

by Peter Overby

By picking Mike Pence as his vice presidential candidate, Donald Trump may cost his campaign contributions from the financial services industry.

In the wake of the Brexit vote, concerns are building about London's status as a center of international banking.

How Will Brexit Affect London's Status As A Global Financial Center?

6:06pm June 27, 2016

by Jim Zarroli

When the U.K. voted to leave the EU, a lot of questions were left unanswered. London banks do an enormous amount of international business, but with the doors to Europe shutting that could change.

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GE Capital Wants Off The List Of Too-Big-To-Fail Institutions

1:16pm March 31, 2016

by Jim Zarroli

The company says it's getting out of the financial services industry and should no longer be subjected to so much federal government oversight.

In the age of digital alternatives, checks are fading.

Economy

Is It Time To Write Off Checks?

11:14am March 03, 2016

by Zhai Yun Tan

In the age of Venmo and mobile deposits, checks are fading. That's having a wide impact, from the Postal Service to check-printing companies. But many still find room for checks in their lives.