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Carrie Tolstedt, the former Wells Fargo executive facing criminal charges for the phony accounts scandal, entered a "not guilty" plea at an arraignment hearing Friday afternoon.
Slate Money talks retail bank products, neobanks, and the Wells Fargo scandal.
Archway, which will help community and regional banks integrate third-party providers with their existing systems, has raised $15 million of venture funding in connection with the spinoff.
In 2016, news broke that Wells Fargo bank employees opened up bogus accounts in customers' names to meet unattainable sales goals.
A reporter tried for more than two years to speak with Michael Bacon, the megabank's former chief security officer. Bacon eventually sat for around 30 interviews, painting a detailed picture of the Wells executive suite as the fake-accounts scandal unfolded.