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Research Outline
Prepared for Emily P. | Delivered January 29, 2020
Bank Topics Q4
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Goals
The goal is to find the top 2-3 topics being written about for each of the requested banks during Q4 of 2019.
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Early Findings
TD Bank
In October, TD Bank
launched a new online platform
where people can order foreign currency. It can be used by anyone, not just TD Bank customers. This launch was also covered by sites like
P
R
N
e
w
s
w
i
r
e
,
Think
A
d
v
i
s
o
r
, and
News BTC
.
In November, TD Bank added AI software called
MyTD
into their mobile banking apps. The software will
anticipate customer needs
and send them notifications to make different financial decisions. This was also covered by
N
e
w
s
w
i
r
e
,
Yahoo! Finance
, and
Bank Innovation
.
A class action lawsuit against TD bank was settled in October for
$70 million
. The suit claimed the bank had "
deceptive overdraft fee policies
". This was also covered by
Cohen and
M
a
l
a
d
and
Reuters
.
Wells Fargo
In November, Wells Fargo announced a new
Vice Chairman
of Public Affairs, William Daley. This was covered by sites like
Reuters
,
B
l
o
o
m
b
e
r
g
, and
American Banker
.
In November and December, two separate fraud cases occurred involving employees of Wells Fargo. In November,
R
a
m
i
n
d
e
r
R
e
k
h
i
plead guilty to embezzling and fraud in an illegal loan scheme.
I
n
December,
Arlando Henderson
was charged with stealing over $88,000 from the bank.
Wells Fargo donated
$250,000
to wildfire relief funds in Australia. This was covered by many press sites including
AFP
,
N
a
s
d
a
q
, and
News Break
.
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