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Wells Fargo & Co

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  • Banks fined $43M over Toys R Us IPO conflicts Thursday, 11 Dec 2014 | 10:50 AM ET
    Richard Ketchum, chairman and chief executive officer of the Financial Industry Regulatory Authority (FINRA).

    The Financial Industry Regulatory Authority said Thursday that it fined 10 banks over conflicts from the 2010 planned IPO of Toys"R"Us.

  • Can LendingClub transform banking as we know it? Wednesday, 10 Dec 2014 | 7:00 AM ET

    LendingClub is setting out to transform the banking world. To get there, it's following a playbook popularized by the biggest tech companies.

  • Fed passes capital surcharges for major banks Tuesday, 9 Dec 2014 | 4:26 PM ET
    Federal Reserve Chair Janet Yellen

    These surcharges would be for the eight top-tier banks with $50 billion or more in consolidated assets.

  • NEW YORK, Dec 9- A mortgage lender and a mortgage servicer that were owned by banks that became part of Wells Fargo& Co did not cheat homeowners by charging excessive fees, a defense lawyer told a Manhattan federal jury on Tuesday. Daniel Pollack, a lawyer for the two units, argued that The Money Store, the lender, and HomEq Servicing, the servicer, did not breach any...

  • Early Movers: UTX, LULU, AEO, VZ, AMZN & more Tuesday, 9 Dec 2014 | 7:48 AM ET

    Some of the names on the move ahead of the open.

  • BlackRock Inc, the world's largest asset manager, and Manning& Napier are among the managers that use strategies such as shorting stocks and trading derivatives in their target-date funds. J.P. Morgan Asset Management and Voya Investment Management are considering adding similar strategies, executives told Reuters. About 41 percent of 401 plan...

  • Homeowners, Wells Fargo go to trial over fees Monday, 8 Dec 2014 | 7:08 AM ET
    A Wells Fargo bank branch in New York City.

    Wells Fargo is set to go to trial on Monday as homeowners seek to recoup about $629 million for alleged fees by a company once owned by Wachovia.

  • BlackRock Inc, the world's largest asset manager, and Manning& Napier are among the managers that use strategies such as shorting stocks and trading derivatives in some 401 retirement plans, including target date funds. J.P. Morgan Asset Management and Voya Investment Management are considering adding similar strategies, executives told Reuters.

  • NEW YORK, Dec 4- When Bill Gross bolted Pimco in late September after months of mediocre performance in his Total Return Fund, clients including Wells Fargo& Co. and Charles Schwab Corp pulled over $61 billion from the Newport Beach, California- based money manager. For example, the two-year-old, $576 million JPMorgan Global Bond Opportunities Fund, received $346...

  • NEW YORK, Dec 4- When Bill Gross bolted Pimco in late September after months of mediocre performance in his Total Return Fund, clients including Wells Fargo& Co. and Charles Schwab Corp pulled over $61 billion from the Newport Beach, California- based money manager. For example, the two-year-old, $576 million JPMorgan Global Bond Opportunities Fund, received $346...

  • NEW YORK, Dec 2- Citigroup Inc is shutting down its alternative stock trading venue LavaFlow, the bank said on Tuesday, at a time when regulatory scrutiny has increased around broker-run trading platforms, forcing banks to rethink the costs. "Following a recent review of the LavaFlow ECN, we have decided that our capital, resources and efforts would be better...

  • NEW YORK, Dec 1- U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. The Organization of Petroleum Exporting Countries last week agreed to maintain its production quota of 30 million-barrels-per-day, despite a 30 percent drop in oil prices since June, triggering an additional 10...

  • NEW YORK, Dec 1- Ally Financial Inc became the largest U.S. retail auto lender in the third quarter, displacing Wells Fargo& Co for the first time since the start of 2013, according to a report from Experian Automotive on Monday. Much of Ally's growth came from financing used car sales, an area where the former in-house finance arm of General Motors Co has been...

  • NEW YORK, Dec 1- U.S. oil producers have been racing full-speed ahead to drill new shale wells in recent years, even in the face of lower oil prices. The Organization of Petroleum Exporting Countries last week agreed to maintain its production quota of 30 million-barrels-per-day, despite a 30 percent drop in oil prices since June, triggering an additional 10...

  • Nov 28- Wells Fargo& Co was sued on Friday by Cook County, Illinois, which accused the largest U.S. mortgage lender of targeting black, Hispanic and female borrowers with predatory and discriminatory lending in the Chicago area. According to a complaint filed in the U.S. District Court in Chicago, which is part of Cook County and the third-most populous U.S. city,...

  • Nov 28- Wells Fargo& Co was sued on Friday by Cook County, Illinois, which accused the largest U.S. mortgage lender of targeting black, Hispanic and female borrowers with predatory and discriminatory lending in the Chicago area. According to a complaint filed in the U.S. District Court in Chicago, which is part of Cook County and the third-most populous U.S. city,...

  • Fed: WFC plan a 'basis for resolution'  Tuesday, 25 Nov 2014 | 4:10 PM ET

    The Federal Reserve says Wells Fargo must address living will shortcomings in its 2015 living will plans, reports CNBC's Steve Liesman.

  • Why Saudi Arabia won't agree to an output cut  Monday, 24 Nov 2014 | 6:15 PM ET

    Oil prices at $80 per barrel are more than profitable for Saudi Arabia and allow them to squeeze their competitors, says David Joy, Chief Market Strategist at Ameriprise Financial.

  • Nov 24- BioMarin Pharmaceuticals Inc said it would buy Dutch drug developer Prosensa Holding NV for about $840 million, betting on a drug that has potential to become the first approved treatment for a rare muscle disorder. "Though the asset has risk given the clinical history, we believe the payoff for BioMarin could be substantial given the unmet need...

  • Nov 20- Shares of Habit Restaurants Inc, known for its charburgers, doubled in their first day of trading, making it the most successful debut by a fast casual restaurant chain in the United States this year. The stock opened at $30 and shot up to $36, double its IPO price of $18, within five minutes of trading on the Nasdaq. Habit Restaurants' revenue rose 43 percent to...