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RETAIL BANKING | Staff Reporter, Singapore
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Weekly Global News Wrap Up: Facebook in talks with banks to join Messenger; Wells Fargo accidentally foreclosed on 400 customers

And HSBC profit hit $10.7b in H1.

From CNBC: Facebook is asking more banks to join Messenger and bring their users' financial information along with them.

The Wall Street Journal reported that Facebook was asking banks for users' financial information, like credit card transactions and checking account balances which would be used for Messenger features including account balance updates and fraud alerts, but not for Facebook's other platforms. 

From CNBC: Nearly 400 Wells Fargo customers lost their homes when they were accidentally foreclosed after a software glitch denied them the ability to modify their mortgages as they sought federal aid, the bank disclosed in a regulatory filing late Friday.

The bank apologized and has set aside $8 million to compensate those affected by the glitch, which occurred from 2010 to 2015.

From Reuters: HSBC reported on Monday a pretax profit of $10.7 billion in the six months through June, up 4.6 percent from the year-ago period.

As the bank spent on hiring more frontline staff and expanding digital capabilities, its costs climbed 6 percent to $17.5 billion.

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