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When Customers Say Their Money Was Stolen on Zelle, Banks Often Refuse to Pay

Argelys Oriach was on his way home from a shopping trip one evening in March when he was robbed at gunpoint. The thief demanded his iPhone and passcode. Mr. Oriach […]




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Brian Moynihan Turned Bank of America Around. Can He Do More?

Mr. Moynihan’s long tenure is not uncommon on Wall Street, partly because bank boards have valued stability atop their large, complex operations after the financial crisis. Mr. Moynihan started the […]




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Fraud Is Flourishing on Zelle. The Banks Say It’s Not Their Problem.

Another Wells Fargo customer, Julia Gibson, lost $2,500 to a similar scam in October. After she reported the fraud to the bank, it gave her a provisional credit for the […]




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Why Banks Are Slow to Embrace Cloud Computing

Wells Fargo plans to move to data centers owned by Microsoft and Google over several years; Morgan Stanley is also working with Microsoft. Bank of America has saved $2 billion […]




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Goldman Sachs Follows Wall Street Rivals in Asking Staff to Work From Home

Goldman Sachs told its U.S. employees on Sunday to work from home for the first two weeks of the year, joining Wall Street competitors that had already given similar instructions […]




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Wall Street Warms Up, Grudgingly, to Remote Work, Unthinkable Before Covid

In private, many senior bank executives tasked with raising attendance among their direct reports expressed irritation. They said it was unfair for highly paid employees to keep working from home […]




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Banks Tried to Kill Crypto and Failed. Now They’re Embracing It (Slowly).

Just as it does for stock and bond prices, Goldman recently began posting digital asset prices on its Marquee platform for big clients like hedge funds, preparing for a time […]







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Banks Are Bingeing on Bonds, but Not Because They Want To

The economy is growing. Businesses are hiring. Stocks are soaring. And banks are sitting on big piles of cash.If only they had a better place to put it.Lingering supply chain […]




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Banks Slowly Offer Alternatives to Overdraft Fees, a Bane of Struggling Spenders

“The most egregious practices are largely the same as they have been for nearly 20 years,” said Rebecca Borné, a senior policy counsel at the Center for Responsible Lending, an […]