Current:Home > ScamsThe Daily Money: Will Wells Fargo's 'rent card' pay off? -InvestPioneer
The Daily Money: Will Wells Fargo's 'rent card' pay off?
View
Date:2025-04-27 21:44:02
Good morning! It's Daniel de Visé with your Daily Money, Wells Fargo edition.
Yes: The big bank is in the news.
A new Wells Fargo credit card program with a novel feature – you can use it to pay your rent – may not be working out quite as the bank had hoped.
Wells Fargo is losing as much as $10 million a month on the new card, the Wall Street Journal reports. Wells Fargo and its business partner, Bilt Technologies, dispute the findings and say they have high hopes for the initiative.
Launched in 2022, the card offers an unusual feature: Cardholders can use the plastic to pay rent without triggering fees from landlords, all while earning reward points.
Read all about it here.
Wells Fargo workers fired for 'fake working'?
Meanwhile, more than a dozen Wells Fargo employees were fired last month following an investigation into “fake working,” Bloomberg reports.
The company found that employees were creating the impression of active work by simulating keyboard activity, according to Bloomberg. They were reportedly “discharged” on May 8.
Here's more on the "fake work" caper.
📰 More stories you shouldn't miss 📰
- Employers want to keep retirees in their 401(k)s
- How to land a part-time job
- When is that Chipotle stock split. . .
- . . . And should I buy Chipotle stock?
- Did you claim Social Security too early?
🍔 Today's Menu 🍔
Did you know McDonald's was using AI to take drive-thru orders?
Well, apparently so. And now we learn that the chain will halt the trial by the end of July, evidently to mull future AI options.
Reports cite a memo from a McDonald’s exec, obtained by CNBC. It says, "After a thoughtful review, McDonald's has decided to end our current partnership with IBM on AOT (automated order taking) and the technology will be shut off in all restaurants currently testing it no later than July 26, 2024."
The chain reportedly partnered with IBM in 2021 to test-run the AI ordering technology at over 100 McDonald's locations.
Our report, for the record, was written entirely by human hands.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.
veryGood! (5)
Related
- North Carolina justices rule for restaurants in COVID
- Pediatric anesthesiologist accused of possessing, distributing child sexual abuse material
- This Minnesota mother wants to save autistic children from drowning, one city at a time
- Man pleads guilty to federal charges in attack on Louisville mayoral candidate
- The 401(k) millionaires club keeps growing. We'll tell you how to join.
- The Barely Recognizable J.D. Vance as Trump’s Vice Presidential Running Mate
- Ten Commandments posters won't go in Louisiana classrooms until November
- Travis and Jason Kelce team up with General Mills to create Kelce Mix Cereal: Here's what it is
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Heat-related Texas deaths climb after Beryl left millions without power for days or longer
Ranking
- New data highlights 'achievement gap' for students in the US
- Delta Air Lines says cancellations continue as it tries to restore operations after tech outage
- Man sentenced in prison break and fatal brawl among soccer fans outside cheesesteak shop
- Apple just released a preview of iOS 18. Here's what's new.
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- Evan Mobley and Cleveland Cavaliers agree to max rookie extension
- Elon Musk says X, SpaceX headquarters will relocate to Texas from California
- Journalist ordered to pay over $5,000 to Italian Premier Giorgia Meloni for making fun of her height
Recommendation
Trump's 'stop
Plane crash near Ohio airport kills 3; federal authorities investigating
Global Microsoft CrowdStrike outage creates issues from Starbucks to schools to hospitals
Kamala Harris Breaks Silence on Joe Biden's Presidential Endorsement
Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
Plane crash in Ohio leaves 3 people dead; NTSB, FAA investigating
Bangladesh protesters furious over job allocation system clash with police, with at least 25 deaths reported
In Idaho, Water Shortages Pit Farmers Against One Another