article thumbnail

Wells Fargo Expands Class-Action Settlement To Customers From May 2002

PYMNTS

Wells Fargo & Company announced Friday (April 21) it is expanding its class-action settlement over its fake account scandal to include any customers who were impacted by sales practice issues as early as May 2002. The bank said it expects the revised settlement will resolve claims in 11 other pending class-action lawsuits.

article thumbnail

Moving to One Minute TRACE Reporting: A Review of FINRA Proposed Changes to Rule 6730

Perficient

FINRA has been collecting and disseminating fixed income transaction information through TRACE since 2002. Fixed income markets have continued to change dramatically since 2002, becoming more global while an increasing percentage of trades are made on or by electronic trading platforms. Background.

Report 275
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What is TRACE Reporting? (Part 1 of 6)

Perficient

debt market, the Financial Industry Regulatory Authority (FINRA) developed the Trade Reporting and Compliance Engine (TRACE) in 2002 to facilitate the mandatory reporting of OTC bond transactions in eligible fixed-income securities. To promote transparency in the large U.S.

Report 294
article thumbnail

Wirecard’s Former CEO Markus Braun Arrested

PYMNTS

billion) were missing from two bank accounts in the Philippines, Braun had been at the top of the FinTech company since 2002, the Times reported. Until his resignation Friday (June 19), when an audit revealed 1.9 billion euros ($2.1 Since the drama unfolded, Wirecard share values have plummeted. On June 17, the stock closed at $104.50.

Fraud 318
article thumbnail

Zycus Expands Procure-To-Pay Automation With AI

PYMNTS

Zycus has been working in AI technology for over 20 years, and its first patent was filed in 2002 using the tech. The BOTs will also allow for identifying contract clauses in an automated way. Review scores will be highlighted at a contract level.

Training 243
article thumbnail

Marketplace Lending Depends on Savers Moving on From Bank Deposits

Bank Innovation

This feels like the Internet is dead consensus in 2002. Authoritative sources such as this Deloitte report (with sensationalist headline from Business Insider) add credibility to this meme. At the time I vividly recall the relief with which media companies Read More.

Lending 150
article thumbnail

Impact of Covid-19 Felt in the Shared National Credit Reviews Released by Bank Regulators

Perficient

Total Criticized. (SM SM + SS + D + L). Total Committed. Total Outstanding.

National 309