The executive firings would add to Wells Fargo's existing struggle with scandal in
its consumer banking business.
Attention Bank of America, JPMorgan Chase and Citigroup: Amazon is reportedly mulling a move into
the consumer banking business.
In 2009 the bank also expanded
its consumer banking business with the acquisition of GE Money Bank (GEMB), which added additional customers, branches and ATMs nationwide.
«Even though there are a lot of opportunities, particularly in the retail sector where there is a lot of money to be made by developing banks»
consumer banking businesses, the general perception is that Russia is still a very risky place to invest,» said Stubbs.
Citigroup Inc reported a higher - than - expected quarterly profit on Friday, driven by strength in
its consumer banking business and a surge in equities trading.
Its wholly owned subsidiary, Univest National Bank and Trust Co. engages in commercial and
consumer banking business and provides banking and trust services to its customers.