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The Latest Breaking News from Wells Fargo

What to know about the Silicon Valley Bank collapse, takeover and fallout

President Biden urged calm as markets roiled over the collapse of Silicon Valley Bank. After the FDIC takeover, customers of the bank have full access to their deposits.

WEKU

XPO Logistics CFO Carl Anderson on the shipping giant’s road ahead

XPO is newly lean, after many years of an acquisition streak.

Fortune

Regulators shut down SBV after bank run

How can a bank run happen in 2023? Why didn’t anyone step in to save SVB? And who is at risk now?

Fortune

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A Silicon Valley lender collapsed after a run on the bank. Here's what to know

Silicon Valley Bank was taken over by federal regulators on Friday, capping a spectacular collapse after the lender suffered a run on deposits.

WEKU

Bank branches are still hiring tellers and bankers, but the jobs look different now

Kim M. Sample started her banking career as a teller more than 34 years ago — before direct deposit and online banking, when Philadelphians were learning to "tap MAC" (a.k.a. to go the ATM).

The Philadelphia Inquirer

Top crypto bank collapses as Silvergate announces plans to wind down operations

The volatile sector's banking options are dwindling.

Fortune

Crypto’s favorite bank is on the brink. What happens if Silvergate fails?

Silvergate's collapse is a cautionary tale to the industry—and to regulators.

Fortune

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Real estate slump hits home as Wells Fargo axes hundreds of mortgage bankers days after taking some on a California retreat

Several Wells Fargo mortgage bankers were at a retreat at Palm Desert just a few weeks ago. Now, many of them have lost their jobs.

Fortune

Serial Bay Area bank robber charged with robbing banks days after he was sentenced in bank robbery case

SAN FRANCISCO — Last November, New Jersey native Christian Plummer was released from jail after being sentenced to two years in federal prison for robbing six banks around the Bay Area.

Tribune News Service

Zillow says the home price correction is winding down—here’s what 28 other forecast models have to say

Fortune once again tracked down the latest home price forecasts from 29 of the nation's leading real estate researchers.

Fortune

Payday Friday is becoming payday Wednesday, thanks to banks and credit unions

Payday Friday is increasingly coming one or two days early — on Wednesday or sometimes Thursday.

Tribune News Service

Wells Fargo didn't act after an LA executive was raped by her boss, lawsuit alleges

Content warning: This story includes descriptions of sexual assault.

Los Angeles Times

Philly employers are desperately seeking tech workers even as Silicon Valley giants are laying off thousands

Major layoffs at big technology companies have dominated national headlines in recent months, seemingly portending doom and gloom for tech workers. But the reality for most companies, including Philadelphia employers, is a continuing shortage of skilled technologists and a desire to hire more.

The Philadelphia Inquirer

Labor force participation among Black workers has returned to pre-pandemic levels

Unemployment among Black Americans fell to 3.4% in January, while labor force participation hit pre-pandemic levels

Fortune

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Fortune

Why may Amazon be interested in NFTs?

The online retail giant’s tendrils extend from web hosting to health care. Does an investment in NFTs make sense?

Fortune

National home prices have further to fall, say 24 leading housing market researchers—while 5 firms think prices have bottomed

Fortune tracked down the latest home price forecasts from 29 of the nation's leading housing researchers.

The Independent UK

Proposed Brazil-Argentina common currency is met with doubts

Market analysts are reacting with deep skepticism to a proposal floated by the leaders of Brazil and Argentina to launch a common currency

Zenger

Upcoming & Established Content Including Flagship Shows Making Investments Valuable For Netflix

Streaming giant Netflix Inc went public in 2002 and now today is growing with a stream of content with high viewership.

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Fortune

Jumbo loans explained

Jumbo loans are used for purchases that exceed conforming loan limits, but they can be harder to qualify for.

Fortune

Jamie Dimon is waffling on his economic ‘hurricane’ take yet again. His bank is now calling a ‘mild recession’ later this year

Wall Street banks are building cash reserves to cope with a “mild recession.” It’s a more optimistic outlook than some CEOs have previously offered.

The Independent UK

Millennial Money: 5 tactics to pay buy now, pay later debt

After the holiday season, those “buy now, pay later” bills will come due

Fortune

Air India owner expresses ‘anguish’ over urination scandal involving Wells Fargo executive

N Chandrasekaran, chairman of Air India parent company Tata Group, has expressed his "personal anguish" over the scandal.

The Independent UK

Air India boss describes ‘personal anguish’ at handling of urinating passenger incident

Statement comes after regulator pulls up airline for ‘systemic failure’ in dealing with incident

Dynamite News

"A matter of personal anguish," says Tata Sons on urination incident onboard Air India flight

Earlier, after facing backlash, Air India had issued show cause notices to four of its cabin crew and one pilot and de-rostered them pending investigations. Read on for details;

Fortune

The Air India passenger who urinated on a woman mid-flight has been fired by Wells Fargo, where he was a vice president

Wells Fargo said it was cooperating with police in India and found the incident “deeply disturbing.”

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