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  • UPDATE 3-Wells Fargo profit rises on higher loan growth Wednesday, 14 Jan 2015 | 10:40 AM ET

    Jan 14- Wells Fargo& Co, the fourth largest U.S. bank by assets, reported a slight increase in quarterly profit on Wednesday as it earned more from credit cards and corporate loans. Credit cards, one of Wells Fargo's major areas of expansion, were a bright spot as fees rose 12 percent to $925 million. Commercial and industrial loans jumped 15 percent to $271.8 billion,...

  • Singapore property faces test as rates rise Thursday, 8 Jan 2015 | 9:07 PM ET

    Singapore's efforts to rein in household debt and its sky-high home prices appear set for their first test as local rates begin to rise.

  • Jan 8- New York's financial regulator sent a subpoena to the Medley Opportunity Fund II last week as he investigates the hedge fund's ties to payday lending, Bloomberg reported, citing a person familiar with the matter. Benjamin Lawsky, superintendent of Department of Financial Services, is seeking records from the fund on its investments in payday lenders,...

  • Jan 8- New York's financial regulator sent a subpoena to the Medley Opportunity Fund II last week as he investigates the hedge fund's ties to payday lending, Bloomberg reported, citing a person familiar with the matter. Benjamin Lawsky, superintendent of Department of Financial Services, is seeking records from the fund on its investments in payday lenders,...

  • NEW YORK, Jan 4- A U.S. regulator focused on consumer protection is planning the first federal regulations ever for lenders that make small loans to borrowers seeking cash before their next pay day, The Wall Street Journal reported on Sunday. The Consumer Financial Protection Bureau will convene a panel of small lenders early this year to discuss possible rules...

  • Taste for imports drives up Japan's grocery bill Sunday, 28 Dec 2014 | 5:43 PM ET

    Yen weakness is driving up the cost of Japan's food imports, but analysts say pinched pocketbooks won't slow consumers' taste for meals from overseas.

  • MOSCOW, Dec 22- Russia's Sberbank, the country's largest lender, denied a report on Monday from RIA news agency that it had suspended taking new requests for auto loans and mortgages, its Chief Financial Officer Alexander Morozov told Reuters. "Information on the suspension of is not true," Morozov said, adding that the bank continues to see mortgages as a priority...

  • RUSSIA'S SBERBANK DENIES RIA NEWS AGENCY REPORT IT HAD SUSPENDED TAKING NEW REQUESTS ON AUTO LOANS, MORTGAGES- DEPUTY CEO TO REUTERS.

  • MOSCOW, Dec 22- Russia's Sberbank, the country's largest lender, has suspended until the end of February taking new requests from retail clients on loans for automobiles and mortgages, RIA news agency reported.

  • RUSSIAN SBERBANK SUSPENDS TAKING NEW REQUESTS FROM RETAIL CLIENTS ON CAR LOANS, MORTGAGES- RIA NOVOSTI.

  • Dec 18- Ocwen Financial Corp is facing scrutiny from New York state and the federal government over whether the mortgage servicer improperly stalled short sales of property to collect more fees, Bloomberg reported, citing sources. The New York Department of Financial Services and the U.S. Consumer Financial Protection Bureau are looking into whether Ocwen...

  • HONG KONG/ SINGAPORE, Dec 16- Standard Chartered is selling its Hong Kong and Shenzhen consumer finance businesses to a consortium that includes a Chinese state firm, helping the emerging markets-focused lender to clinch its biggest asset disposal as part of a restructuring. In what is expected to be the first of many divestitures, Standard Chartered has...

  • In what is Sony's most detailed description on the types of data stolen, the company listed information such as social security numbers, credit card details, bank account information, healthcare information and compensation and other employment-related information. Hackers attacked Sony's computer network last month and released sensitive data over...

  • Dec 5- Three companies have emerged to make a joint bid for Citigroup Inc's credit card business in Japan, the Nikkei reported, as the U.S. lender goes ahead with plans to exit consumer banking in the country. Shinsei Bank Ltd, department store operator Isetan Mitsukoshi Holdings Ltd and credit card service provider JCB Co Ltd want to buy the unit, which offers...

  • TORONTO, Dec 4- Canadian Imperial Bank of Commerce reported a weaker fourth-quarter profit on Thursday, hurt by the loss of some credit card revenue and softer results at its wholesale banking division. Canada's fifth-largest lender said its net income fell to C $811 million, or C $1.98 per share, in the quarter ended Oct. 31, from C $825 million, or C $2.02, a year...

  • WASHINGTON, Dec 3- The Federal Reserve is only in the early stages of developing a set of macroprudential tools to ensure financial stability and faces limits because of the divided nature of U.S. financial sector oversight, Fed governor Lael Brainard said on Wednesday. "While the Federal Reserve has an inherent responsibility for financial stability, it has an...

  • WASHINGTON, Dec 3- The U.S. Federal Reserve is only in the early stages of developing a set of macroprudential tools to ensure financial stability, and faces limits because of the divided nature of U.S. financial sector oversight, Fed governor Lael Brainard said on Wednesday. Her remarks at the Brookings Institution are the most detailed to date by a Fed...

  • NEW YORK, Nov 20- The top federal prosecutor in Manhattan said on Thursday his office was taking a close look at payday lending as part of a broad crackdown on wrongdoing involving the handling of consumer debts. On Wednesday, a Manhattan federal judge sentenced the owner of New York debt settlement company Mission Settlement Agency, Michael Levitis, to nine...

  • NEW YORK, Nov 19- The owner of a New York debt settlement company was sentenced on Wednesday to nine years in prison for his guilty plea in a fraud scheme that authorities say victimized 1,200 people through false promises of relief from credit card companies and banks. Michael Levitis and his company, Mission Settlement Agency, committed crimes that resulted in...

  • TORONTO, Nov 17- JPMorgan Chase& Co said on Monday it notified Sears Canada Inc that it plans to terminate their credit card agreement, in another setback for the retailer. In the event of a sale, JPMorgan would pay Sears Canada up to C $174 million under certain circumstances. Sears Canada and JPMorgan said the bank will service the credit card business until at...