Financial District, San Francisco

CFE Fund and Wells Fargo Expand Bank On Fellowship to Connect Unbanked Households to Safe Banking Accounts

Retrieved on: 
Tuesday, June 29, 2021
Financial District, San Francisco, Finance, Economy, Money, Wells Fargo, Overdraft, Bank

Wells Fargo's investment will support six full-time Bank On Fellows for two years to help connect the more than 36 million people living outside of the U.S. financial system with safe, low-cost banking accounts.

Key Points: 
  • Wells Fargo's investment will support six full-time Bank On Fellows for two years to help connect the more than 36 million people living outside of the U.S. financial system with safe, low-cost banking accounts.
  • For example, Wells Fargo's Bank On-certified Clear Access Banking is a low-cost, no overdraft fee account and gives access to Wells Fargo's mobile app, and nationwide branch and ATM network.
  • This third cohort of Bank On Fellows includes: State of Florida (Bank On Florida); Henry County, VA (Bank On Martinsville-Henry); Pierce County, WA (Bank On Pierce County); Pueblo, CO (Bank On Pueblo County); Rochester, NY (Bank On Rochester); and Tulsa, OK (Bank On Tulsa).
  • The CFE Fund supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government.

Wells Fargo Provided More Than 280,000 Paycheck Protection Program Loans to Help the Smallest of Small Businesses in Need

Retrieved on: 
Tuesday, June 29, 2021
Small business, Banking, Professional services, Finance, Financial District, San Francisco, Paycheck Protection Program, United States responses to the COVID-19 pandemic, Wells Fargo, Companies, Finance, Economy of the United States

Wells Fargo today announced it provided approximately 282,000 Paycheck Protection Program (PPP) loans through its 2020 and 2021 lending to support small businesses trying to survive the COVID-19 pandemic.

Key Points: 
  • Wells Fargo today announced it provided approximately 282,000 Paycheck Protection Program (PPP) loans through its 2020 and 2021 lending to support small businesses trying to survive the COVID-19 pandemic.
  • View the full release here: https://www.businesswire.com/news/home/20210629005655/en/
    Male small business owner holding a sign that says Come in were open.
  • In addition to the teams who work with small businesses every day, we tapped thousands of Wells Fargo employees from across the company who quickly pitched in so they could help customers get PPP loans.
  • In 2020, Wells Fargo provided accommodations to nearly 50,000 small business customers, totaling $143 million in deferred payments.

Theta Lake Joins the Wells Fargo Startup Accelerator

Retrieved on: 
Tuesday, June 29, 2021
Technology, Finance, Security, Banking, Professional services, Software, Networks, Internet, Data management, Financial District, San Francisco, Economy of California, Wells Fargo, Banks, Companies, Fargo, Accelerator, Theta Lake, Wells Fargo, THETA LAKE, WELLS FARGO

Theta Lake , a leader in modern collaboration security and compliance solutions, today announced with Wells Fargo & Company (NYSE:WFC) that Theta Lake has joined the Wells Fargo Startup Accelerator , a portfolio of startup companies that develop solutions across a broad set of domains including customer experience, payments, marketing, risk and regulation, climate change, and security.

Key Points: 
  • Theta Lake , a leader in modern collaboration security and compliance solutions, today announced with Wells Fargo & Company (NYSE:WFC) that Theta Lake has joined the Wells Fargo Startup Accelerator , a portfolio of startup companies that develop solutions across a broad set of domains including customer experience, payments, marketing, risk and regulation, climate change, and security.
  • Having a game changing compliance disruptor like Theta Lake join the Wells Fargo Startup Accelerator gives them access to the expertise and scale of Wells Fargo to drive effective innovation to businesses, said John Bradford, Global Head of Enterprise Collaboration, Wells Fargo.
  • We look forward to collaborating with Theta Lake and we welcome them to the Wells Fargo Startup Accelerator.
  • Were excited to work with the Wells Fargo Startup Accelerator team to more broadly bring our innovative security and compliance solution to the market, said Devin Redmond, CEO and co-Founder of Theta Lake.

DTE Energy Company Announces the Pricing Terms of its Cash Tender Offers for Certain Outstanding Debt Securities

Retrieved on: 
Monday, June 28, 2021
Financial District, San Francisco, Companies, Banks, DTE Energy, Wells Fargo, Economy of the United States, Barclays, DTE

The Tender Offers and the Consent Solicitations are subject to the satisfaction or waiver of certain conditions, including the Financing Condition and the Spin-Off Condition.

Key Points: 
  • The Tender Offers and the Consent Solicitations are subject to the satisfaction or waiver of certain conditions, including the Financing Condition and the Spin-Off Condition.
  • Barclays Capital Inc. and Wells Fargo Securities, LLC are the dealer managers for the Tender Offers and solicitation agents for the Consent Solicitations (the Dealer Managers and Solicitation Agents).
  • DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide.
  • DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress.

Wells Fargo Issues Statement Regarding the Federal Reserve’s Stress Test Results

Retrieved on: 
Monday, June 28, 2021
Finance, Banking, Professional services, White House, Federal Government, Public policy, Government, Financial District, San Francisco, Comprehensive Capital Analysis and Review, Consumer Financial Protection Bureau, Insurance in the United States, United States federal banking legislation, CCAR, Financial services in the United States, Wells Fargo, Finance, Financial services, Fargo, WFC

Wells Fargo & Company (NYSE: WFC) today announced that it has completed the 2021 Comprehensive Capital Analysis and Review (CCAR) stress test process.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC) today announced that it has completed the 2021 Comprehensive Capital Analysis and Review (CCAR) stress test process.
  • The Federal Reserve Board (FRB) has indicated that it will publish the Companys final SCB by August 31, 2021.
  • We are pleased that this years CCAR stress test confirmed the significant strength of our capital position.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Wells Fargo Closed-End Funds Declare Monthly Distributions

Retrieved on: 
Friday, June 25, 2021
Banking, Professional services, Finance, Finance, Money, Financial District, San Francisco, Economy, Wells Fargo, Financial adviser, Net asset value, Broker-dealer

These funds make distributions in accordance with a managed distribution plan that provides for the declaration of monthly distributions to common shareholders of the fund at an annual minimum fixed rate of 8% for the Wells Fargo Income Opportunities Fund, 9% for the Wells Fargo Multi-Sector Income Fund, and 7% for the Wells Fargo Utilities and High Income Fund based on the funds average monthly net asset value (NAV) per share over the prior 12 months.

Key Points: 
  • These funds make distributions in accordance with a managed distribution plan that provides for the declaration of monthly distributions to common shareholders of the fund at an annual minimum fixed rate of 8% for the Wells Fargo Income Opportunities Fund, 9% for the Wells Fargo Multi-Sector Income Fund, and 7% for the Wells Fargo Utilities and High Income Fund based on the funds average monthly net asset value (NAV) per share over the prior 12 months.
  • Wells Fargo Asset Management (WFAM) is the trade name for certain investment advisory/management firms owned by Wells Fargo & Company.
  • These firms include but are not limited to Wells Capital Management Incorporated and Wells Fargo Funds Management, LLC.
  • Certain products managed by WFAM entities are distributed by Wells Fargo Funds Distributor, LLC (a broker-dealer and Member FINRA).

Council for Economic Education Appoints Lisa Banker, Rebecca Patterson and Kim Sharan to Its Board of Directors

Retrieved on: 
Thursday, June 24, 2021
Preschool, Other Consumer, Other Philanthropy, Teens, Other Professional Services, State, Local, Children, Finance, Banking, Consumer, Accounting, Professional services, Philanthropy, Public policy, Government, Other Education, Primary, Secondary, Training, Education, Financial District, San Francisco, Wells Fargo, Bridgewater, Cee, Companies, Finance, Economy of the United States

To help expand access to financial education in K-12 schools around the country, the Council for Economic Education (CEE) has appointed three new corporate and organizational leaders to its board of directors .

Key Points: 
  • To help expand access to financial education in K-12 schools around the country, the Council for Economic Education (CEE) has appointed three new corporate and organizational leaders to its board of directors .
  • New board members include Lisa Banker of Wells Fargo, Rebecca Patterson of Bridgewater Associates and Kim Sharan, who serves on TIAAs board of trustees.
  • Too often in America we send children into the world lacking the basic life-skills of personal finance and economics.
  • Our new board members expertise will be invaluable in helping CEE achieve our mission of broadening access to all students.

Visa To Acquire European Open Banking Platform Tink

Retrieved on: 
Thursday, June 24, 2021
Banking, Professional services, Finance, Money, Finance, Economy, Financial markets, Financial services, Credit cards, Financial District, San Francisco, Visa Inc., Open banking, Financial technology, Bank, Visa Inc., Tink, VISA INC., TINK

Visa (NYSE: V) today announced it has signed a definitive agreement to acquire Tink, a European open banking platform that enables financial institutions, fintechs and merchants to build tailored financial management tools, products and services for European consumers and businesses based on their financial data.

Key Points: 
  • Visa (NYSE: V) today announced it has signed a definitive agreement to acquire Tink, a European open banking platform that enables financial institutions, fintechs and merchants to build tailored financial management tools, products and services for European consumers and businesses based on their financial data.
  • Visa will pay total financial consideration of 1.8 billion Euros, inclusive of cash and retention incentives, to acquire Tink.
  • Visa is committed to doing all we can to foster innovation and empower consumers in support of Europes open banking goals, said Al Kelly, CEO and Chairman of Visa.
  • Tink is a leading open banking platform in Europe that enables banks, fintechs and startups to develop data-driven financial services.

DTE Energy Company Announces Extension of Certain Dates of Its Cash Tender Offers and Consent Solicitations for Certain Outstanding Debt Securities

Retrieved on: 
Wednesday, June 23, 2021
Financial District, San Francisco, Companies, Banks, Wells Fargo, Barclays, DTE Energy, Finance, DTE

Barclays Capital Inc. and Wells Fargo Securities, LLC are the dealer managers for the Tender Offers and solicitation agents for the Consent Solicitations (the Dealer Managers and Solicitation Agents).

Key Points: 
  • Barclays Capital Inc. and Wells Fargo Securities, LLC are the dealer managers for the Tender Offers and solicitation agents for the Consent Solicitations (the Dealer Managers and Solicitation Agents).
  • Investors with questions regarding the Tender Offers and the Consent Solicitations may contact Barclays Capital Inc. at (800) 438-3242 (toll-free) or (212) 528-7581 (collect) or Wells Fargo Securities, LLC at (866) 309-6316 (toll-free) or (704)410- 4756 (collect).
  • DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide.
  • DTE is committed to serving with its energy through volunteerism, education and employment initiatives, philanthropy and economic progress.

Bakkt Launches Bakkt® Visa® Debit Card to Maximize Users' Ability to Spend Digital Assets

Retrieved on: 
Tuesday, June 22, 2021
Banking, Data management, Professional services, Technology, Software, Payment cards, Debit cards, Money, Finance, Credit cards, Financial District, San Francisco, Visa Inc., Visa Debit

Bakkt Holdings, LLC (Bakkt), the digital asset marketplace behind the Bakkt App, has expanded its offerings with a new fully virtual Bakkt Visa Debit Card (Bakkt Card).

Key Points: 
  • Bakkt Holdings, LLC (Bakkt), the digital asset marketplace behind the Bakkt App, has expanded its offerings with a new fully virtual Bakkt Visa Debit Card (Bakkt Card).
  • Bakkt customers can now apply for a Bakkt Card via the Bakkt App.
  • *
    The Bakkt Visa Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.
    To download the Bakkt App, visit the App Store and Google Play Store .
  • Bakkt is a trusted digital asset marketplace that enables institutions and consumers to buy, sell, store and spend digital assets.