© 2025 Arizent. All rights reserved.

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

scharf-050120-topten.jpeg
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.

(Full story here.)

Wells Fargo hires new operations head from BNY Mellon

wells-050120-topten.jpeg
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.

(Full story here.)

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

fed-050120-topten.jpeg
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."

(Full story here.)

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

cuban-050120-topten.jpeg
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.

(Full story here.)

Congress was wrong to leave PPP disbursement up to banks

gavel-050120-topten.jpeg
Elected officials are better off deciding who's most deserving of federally backed coronavirus relief funds for small businesses.

(Full story here.)

As hotels sit empty, loan delinquencies pile up

hotels-050120-topten.png
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.

(Full story here.)

Fitch flags seven consumer lenders, including Amex, Capital One

amex-050120-topten.jpeg
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.

(Full story here.)

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

ruths-050120-topten.jpeg
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.

(Full story here.)

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

digital-050120-topten.jpeg
Use of banks' mobile apps and websites has risen about a third since the coronavirus crisis began, according to J.D. Power.

(Full story here.)

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

more-050120-topten.jpeg
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.

(Full story here.)
Savings accounts Paycheck Protection Program Federal Reserve Wells Fargo Commercial lending Digital banking
MORE FROM AMERICAN BANKER