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IT40 Places& Things in the Media for 02/07/2019

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#1 Wells Fargo – HomeThumbs Up Sign

Wells Fargo

Wells Fargo updated their cover photo.

 

Widespread online banking, mobile app outage hits Wells Fargo customers

Wells Fargo’s fake account scandal started last year. Angeli Kakade (@angelikakade) has the story.Buzz60

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Wells Fargo is working to fix a widespread outage preventing some customers from using the mobile app and accessing their online banking accounts.

When attempting to log in online, some customers are met with a screen that says: "We're experiencing some technical difficulties. We apologize for the inconvenience as some of our web pages are temporarily unavailable."

Wells Fargo addressed the outage on social media.

"We apologize to our customers who may be experiencing an issue with our online banking and mobile app. Thanks for your patience while we research this issue. If you are impacted, please check back here for updates," Wells Fargo wrote on Twitter. 

Wells Fargo

@WellsFargo

We’re experiencing a systems issue that is causing intermittent outages, and we’re working to restore services as soon as possible. We apologize for the inconvenience.

1,476 people are talking about this

The bank sent out a follow-up tweet about an hour later with another apology: "We're experiencing a systems issue that is causing intermittent outages, and we're working to restore services as soon as possible."

Smoke at one of Wells Fargo's data centers the caused the outage, the bank Tweeted later on Thursday.

CNBC reported that the incident happened at a data center in Shoreview, Minn., at around 5 a.m. CST and was under control starting at 9 a.m.

Twitter users complained about not being able to access the bank's website and app.

"It’s too early in the morning for Wells Fargo to be ruining people’s lives. Mobile app ... down. Website account access... down. Account access by phone... down. Folks cards are getting declined. ATMs are screwed up. I’m almost shamed to admit that I still bank with them," Twitter user @SeventyElle wrote.

Lynne Jones@SeventyElle

It’s too early in the morning for Wells Fargo to be ruining people’s lives. Mobile app ... down. Website account access... down. Account access by phone... down. Folks cards are getting declined. ATMs are screwed up. I’m almost shamed to admit that I still bank with them.

431 people are talking about this

"#wellsfargo you guys can have the worst service in tough times. No online banking available right now!! Anyone else with the same issue?" Twitter user @rohitcs wrote

Rohit Selvaraj@rohitcs

you guys can have the worst service in tough times. No online banking available right now!! Anyone else with the same issue?

47 people are talking about this

"I’ll accept your apology but please be aware that I charge a banking fee for this type of inconvenience. So Wells Fargo now owes me $150," Twitter user @Gratefulfred wrote.

Wells Fargo

@WellsFargo

We’re experiencing a systems issue that is causing intermittent outages, and we’re working to restore services as soon as possible. We apologize for the inconvenience.

Fred@gratefulfrred

I’ll accept your apology but please be aware that I charge a banking fee for this type of inconvenience. So Wells Fargo now owes me $150

400 people are talking about this

More stories:

#2 BB&T and SunTrust Bank Combine in a Merger of Equals

BB&T

BB&T updated their cover photo.

Key Democratic Rep. Maxine Waters says BB&T-SunTrust deal 'deserves serious scrutiny'

  • Rep. Maxine Waters says BB&T's purchase of SunTrust "deserves serious scrutiny."
  • She attributes the merger in part to a law passed last year to ease regulations on all but the largest banks.
  • The BB&T and SunTrust merger creates the sixth largest bank in the U.S.

Published 3 Hours Ago  Updated 2 Hours Ago

Congresswoman Maxine Waters (D-CA).

Getty Images
Congresswoman Maxine Waters (D-CA).

The top House Democrat overseeing the financial industry raised concerns Thursday about BB&T's purchase of SunTrust.

In a written statement to CNBC, House Financial Services Committee Chair Rep. Maxine Waters questioned whether the union of regional banks announced Thursday would benefit customers. The sale that the companies billed as a merger of equalscreates the sixth largest lender in the United States.

"The proposed merger raises many questions and deserves serious scrutiny from banking regulators, Congress and the public to determine its impact and whether it would create a public benefit for consumers," the California Democrat said.

Should big banks be afraid of Maxine Waters' agenda?

Should big banks be afraid of Maxine Waters' agenda?  2:02 PM ET Fri, 1 Feb 2019 | 05:40

Waters attributed the deal in part to a law passed last year that eased some bank rules implemented in the wake of the 2008 financial crisis. She argued that "this proposed merger between SunTrust and BB&T is a direct consequence of the deregulatory agenda that [President Donald] Trump and Congressional Republicans have advanced."

The measure passed last year eased regulations on all but the largest U.S. banks. Proponents of the legislation — including 17 Senate Democrats — argued in part that it would save community banks from an unnecessary burden.

In a note earlier Thursday, Cowen Washington Research Group analyst Jaret Seiberg said the deal would likely get approved, but noted that congressional scrutiny could disrupt it. Waters "asking so many questions that it slows the evaluation of the deal" poses a risk to it going through quickly, he wrote.

Waters, a vocal critic of big banks, took control of the panel when Democrats regained a House majority in January. Speaking to CNBCrecently, she stressed that she can work with the financial industry.

"Even if you know you disagree with a particular industry, you let 'em in and you let 'em talk to you. It's always a learning experience," she said.

WATCH: Rep. Waters meets with Bank CEOs

Rep. Maxine Waters, D-Calif.

Rep. Maxine Waters meets with Bank CEOs Dimon, Solomon  3:42 PM ET Thu, 24 Jan 2019 | 02:39

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IT40 #1 Videos Worldwide for 02/07/2019

IT40 News for 02/08/2019

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