Financial District, San Francisco

Joust Launches A Fresh New Banking App for Freelancers & Self Employed Workers

Tuesday, January 28, 2020 - 1:00pm

Based on customer feedback, these new features include an analytical dashboard, Joust Visa debit card management, invoice creation/payments, and more.

Key Points: 
  • Based on customer feedback, these new features include an analytical dashboard, Joust Visa debit card management, invoice creation/payments, and more.
  • The Joust app was created to solve these workers' often overlooked financial and banking needs.
  • The company's business banking app combines an FDIC-insured bank account with a merchant account to accept all kinds of payments.
  • The Joust app is available for download on both Google Play and the Apple App Store.

Microlenders Use of White Label Prepaid Cards on Upswing, Says Axiom Prepaid Holdings

Tuesday, January 28, 2020 - 11:00am

According to experts at Axiom Prepaid Holdings , white label prepaid cards are now frequently being used as a means of lending funds.

Key Points: 
  • According to experts at Axiom Prepaid Holdings , white label prepaid cards are now frequently being used as a means of lending funds.
  • Axiom is a global provider of end-to-end payment solutions that include Mastercard and Visa prepaid cards.
  • Axiom is also able to get its clients' white label prepaid card programs up and running in as little as three months.
  • Axiom Prepaid Holdings was born of the desire of two entrepreneurial-minded banking industry veterans to turn the prepaid card model upside down.

THE DATA INITIATIVE Welcomes Former Wells Fargo & Co. Executive Jim Richards, JD, CAMS

Monday, January 27, 2020 - 1:17pm

PHOENIX, Jan. 27, 2020 /PRNewswire/ --THE DATA INITIATIVE is excited to announce the addition of Mr. Jim Richards, JD, CAMS as a new member of its advisory board.

Key Points: 
  • PHOENIX, Jan. 27, 2020 /PRNewswire/ --THE DATA INITIATIVE is excited to announce the addition of Mr. Jim Richards, JD, CAMS as a new member of its advisory board.
  • Prior to his role with Wells Fargo, Mr. Richards was the AML operations executive at Bank of America.
  • THE DATA INITIATIVE imagines, builds, and delivers modern data products and applications purposed to fight financial crimes smarter.
  • The data and technology company has quickly grown a portfolio of early adopters across financial services, academia, consulting, and legal.

Wells Fargo Responds to OCC Actions Regarding Former Employees

Thursday, January 23, 2020 - 6:55pm

Wells Fargo will not make any remaining compensation payments that may be owed to these individuals while we review the filings.

Key Points: 
  • Wells Fargo will not make any remaining compensation payments that may be owed to these individuals while we review the filings.
  • We must all dedicate ourselves to ensuring that such failings never again occur at Wells Fargo.
  • Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .

MUFG Union Bank Launches Real-Time Payments for Clients on the RTP® Network

Thursday, January 23, 2020 - 3:00pm

Real-time payments enable MUFG Union Bank clients to improve cash flow, manage working capital, and streamline processes.

Key Points: 
  • Real-time payments enable MUFG Union Bank clients to improve cash flow, manage working capital, and streamline processes.
  • "MUFG Union Bank is committed to supporting our clients' movement toward real-time payments in the United States to enhance their experience."
  • "We are very excited that MUFG Union Bank has joined the real-time payments revolution."
  • The corporate headquarters (principal executive office) for MUFG Americas Holdings Corporation, which is the financial holding company, and MUFG Union Bank, is in New York City.

Wells Fargo Foundation and NFWF Announce Release of the Resilient Communities Program 2020 Request for Proposals

Thursday, January 23, 2020 - 4:00pm

WASHINGTON D.C., Jan. 23, 2020 (GLOBE NEWSWIRE) -- The National Fish and Wildlife Foundation (NFWF) and Wells Fargo today announced the release of the 2020 Request for Proposals for the Resilient Communities program, which provides grant funding to enhance community capacity to plan and implement resiliency projects, and improve the protections afforded by natural ecosystems, by investing in conservation and nature-based infrastructure.

Key Points: 
  • WASHINGTON D.C., Jan. 23, 2020 (GLOBE NEWSWIRE) -- The National Fish and Wildlife Foundation (NFWF) and Wells Fargo today announced the release of the 2020 Request for Proposals for the Resilient Communities program, which provides grant funding to enhance community capacity to plan and implement resiliency projects, and improve the protections afforded by natural ecosystems, by investing in conservation and nature-based infrastructure.
  • Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets.
  • With approximately 260,000 team members, Wells Fargo serves one in three households in the United States.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .

Wells Fargo, Scholarship America Call for Veterans Seeking Scholarships, Grants

Thursday, January 23, 2020 - 12:50pm

Wells Fargo & Co. (NYSE: WFC) and Scholarship America seek applicants for the 202021 Veteran Scholarship and Emergency Grant Programs.

Key Points: 
  • Wells Fargo & Co. (NYSE: WFC) and Scholarship America seek applicants for the 202021 Veteran Scholarship and Emergency Grant Programs.
  • Wells Fargo is committed to assisting veterans and spouses of veterans with disabilities succeed in getting the education they need for the careers of their choice.
  • Scholarship America is proud to collaborate with Wells Fargo on its Veterans Scholarship and Veterans Emergency Grant Programs for the fifth consecutive year, said Robert C. Ballard, president and CEO of Scholarship America.
  • Since 2016, Wells Fargo and Scholarship America have awarded 99 scholarships and 177 emergency grants.

Market Logic and Visa Win 2019 BIG Innovation Award

Thursday, January 23, 2020 - 1:15am

BERLIN, Jan. 22, 2020 /PRNewswire/ -- Market Logic today announced that Visa & Market Logic have been named a winner in the 2019 BIG Innovation Awards presented by the Business Intelligence Group.

Key Points: 
  • BERLIN, Jan. 22, 2020 /PRNewswire/ -- Market Logic today announced that Visa & Market Logic have been named a winner in the 2019 BIG Innovation Awards presented by the Business Intelligence Group.
  • The award acknowledges Visa's Market Logic powered insights platform, The Global Insights Exchange, which helps thousands of marketers to search, share and use insights across countries and business lines to drive successful business decisions.
  • Market Logic CEO Kay Iversen said Visa's Global Insights Exchange "leverages Market Logic's knowledge graph and AI capabilities to deliver insights on demand, upcycle existing research to prevent duplication, and efficiently generate new insights via collaboration with research agencies."
  • Kay Iversen said Market Logic is "not only proud to provide Visa with game-changing technology, but we're also delighted to partner with them in an innovation that embraces behavioral change and governance."

PG&E Reaches Agreement With Ad Hoc Noteholder Committee

Thursday, January 23, 2020 - 12:28am

PG&E Corporation and Pacific Gas and Electric Company (the Utility; together, PG&E) have reached an agreement with all claim holders (the Consenting Noteholders) who executed commitment letters in support of the alternative Chapter 11 Plan of Reorganization filed by the Ad Hoc Committee of Senior Unsecured Noteholders (the Ad Hoc Noteholder Committee) in PG&Es Chapter 11 cases.

Key Points: 
  • PG&E Corporation and Pacific Gas and Electric Company (the Utility; together, PG&E) have reached an agreement with all claim holders (the Consenting Noteholders) who executed commitment letters in support of the alternative Chapter 11 Plan of Reorganization filed by the Ad Hoc Committee of Senior Unsecured Noteholders (the Ad Hoc Noteholder Committee) in PG&Es Chapter 11 cases.
  • The Ad Hoc Noteholder Committee will withdraw its Alternative Plan of Reorganization and support the PG&E Plan upon entry of an order approving the Restructuring Support Agreement (RSA) by the Bankruptcy Court.
  • We have settled with all pre-petition wildfire victims groupsindividuals, insurance companies and public entitiesand weve now reached an agreement with the bondholder group.
  • The agreement follows previous settlements with the Official Committee of Tort Claimants and major groups of wildfire victims.

City Holding Company Announces Pre-Tax Gain of $17.8 Million on Sale of Visa Inc. Class B Shares

Wednesday, January 22, 2020 - 7:30pm

City Holding Company (Company or City) (NASDAQ:CHCO), a $5.0 billion bank holding company headquartered in Charleston, West Virginia, and parent company of City National Bank of West Virginia (Bank), today announced that the Bank had entered into an agreement to sell 86,605 shares of Visa Inc. Class B common stock at a pre-tax gain of approximately $17.8 million on January 17, 2020.

Key Points: 
  • City Holding Company (Company or City) (NASDAQ:CHCO), a $5.0 billion bank holding company headquartered in Charleston, West Virginia, and parent company of City National Bank of West Virginia (Bank), today announced that the Bank had entered into an agreement to sell 86,605 shares of Visa Inc. Class B common stock at a pre-tax gain of approximately $17.8 million on January 17, 2020.
  • In March 2008, City National Bank received approximately 150,000 shares of Visa U.S.A., Inc. as part of its membership interest.
  • Approximately 63,000 shares were redeemed as part of Visas initial public offering in 2008 and 86,605 shares were held as Visa Class B shares.
  • The carrying value of the Visa Class B shares on the Companys balance sheet was $0, as the Bank had no historical cost basis in the shares.