Wells Fargo

Banking

Wells Fargo Sells Most of Its Commercial Real Estate Servicing Business

Photo by NoeHill via CC BY-SA 3.0

Wells Fargo said Tuesday that it will sell most of its commercial mortgage servicing business to Trimont, a global loan services provider.

1 min read
FA Upside

Why This Little-Known Wall Street Revenue Stream Is Drying Up

Photo by Toonari Post via CC BY-SA 2.0

The jig may be up for cash sweeps, which have long been one of Wall Street’s most lucrative — and hush-hush — revenue streams.

2 min read
FA Upside

BlackRock Hits Record AUM as Wall Street Banks Report Solid Earnings

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CEO Larry Fink attributed the healthy performance to growth in private markets, retail active fixed income, and the company’s ETF business.

1 min read
FA Upside

Wells Fargo Fires Employees for Pretending to Work

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Wells Fargo said the allegations involved “simulation of keyboard activity” that created the “impression of active work.”

2 min read
FA Upside

Financial Advisors Are On the Fence About Bitcoin ETFs

Photo illustration by Connor Lin / The Daily Upside, Photo by Layerace via Freepik

As cryptocurrency flirts with record highs, the new ETF products may help advisors gain exposure to a highly volatile asset class.

3 min read
Regulation

Regulation is Here at Last for Buy Now, Pay Later

Photo by Nikhilesh De/CoinDesk via CC BY 2.0

But the new don’t require platforms to report how they interact with credit bureaus, keeping many transactions in a black box.

2 min read
Banking

Blackrock, Vanguard and State Street Face Probe Over Bank Stakes

Photo by Nikhilesh De / CoinDesk via CC BY 2.0

The FDIC is investigating Blackrock, Vanguard, and State Street over their large investment stakes in major US banks.

1 min read
Banking

US Lenders Have $1 Trillion Tied Up in Shadow Banks

Photo by Ernie Journeys via Unsplash

The total reflects big banks’ increasing use of alternative financial institutions that are using the funds for riskier bets.

2 min read