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The Friday Express: JPMorgan, Wells Fargo customers suffer glitches


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The Friday Express: JPMorgan, Wells Fargo customers suffer glitches

* A glitch at JPMorgan gave customers online access to other clients' accounts, Bloomberg News reports.

* Wells Fargo had another glitch for the second time in two weeks, with customers being unable to access their accounts digitally, American Banker reports.

* Bank of America has five ongoing separate lawsuits with Ambac Assurance. These concern bond insurance policies that the financial guarantor provided on several securitized pools with loans that BofA allegedly misrepresented.

* In Missouri, OakStar Bank is merging with First National Bank, the Buffalo (Mo.) Reflex reports.

* U.S. Bancorp has partnered with startup AutoGravity to provide fast, digital automobile loan application to customers.

* Citing customer feedback, First National Bank of Omaha will not renew its credit card partnership with the National Rifle Association, American Banker reports.

* GreenPoint Mortgage Funding has settled for $540 million a long-running lawsuit, which alleged breaches in two contracts on 30,000 mortgages, over its closed GreenPoint Mortgage Funding unit.

* In the wake of the school shooting in Parkland, Fla., BlackRock is working with customers who want to exclude from their portfolios weapons manufacturers and other companies that do not align with their beliefs.

* An Enstar Group unit will assume gross reinsurance reserves of about $275 million of the New South Wales motor vehicle compulsory third-party insurance business of Zurich Insurance's Australian unit.

* Deals in 2018 will consist mainly of smaller transactions valued at less than $2 billion, according to Deloitte's insurance M&A outlook report.

* In a hearing, U.S. and foreign insurance industry representatives said removing statutorily mandated collateral requirements for certified reinsurers from other countries — such as Switzerland, Bermuda, Japan and maybe a post-Brexit U.K. — would benefit the U.S. insurance system.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription.