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Top News & Analysis North Dakota

  • MERCURIA- Completed a pilot oil trade earlier this year, working with bank ING and Societe Generale, in which a "smart contract" letter of credit was set up on a blockchain while the traditional paper process ran in parallel. HSBC- Worked with Bank of America Merrill Lynch and the Infocomm Development Authority of Singapore last year on a proof of concept regarding...

  • MERCURIA- Completed a pilot oil trade earlier this year, working with bank ING and Societe Generale, in which a "smart contract" letter of credit was set up on a blockchain while the traditional paper process ran in parallel. HSBC- Worked with Bank of America Merrill Lynch and the Infocomm Development Authority of Singapore last year on a proof of concept regarding...

  • MERCURIA- Completed a pilot oil trade earlier this year, working with bank ING and Societe Generale, in which a "smart contract" letter of credit was set up on a blockchain while the traditional paper process ran in parallel. HSBC- Worked with Bank of America Merrill Lynch and the Infocomm Development Authority of Singapore last year on a proof of concept regarding...

  • MERCURIA- Completed a pilot oil trade earlier this year, working with bank ING and Societe Generale, in which a "smart contract" letter of credit was set up on a blockchain while the traditional paper process ran in parallel. HSBC- Worked with Bank of America Merrill Lynch and the Infocomm Development Authority of Singapore last year on a proof of concept regarding...

  • MERCURIA- Completed a pilot oil trade earlier this year, working with bank ING and Societe Generale, in which a "smart contract" letter of credit was set up on a blockchain while the traditional paper process ran in parallel. HSBC- Worked with Bank of America Merrill Lynch and the Infocomm Development Authority of Singapore last year on a proof of concept regarding...

  • CHICAGO/ SAN FRANCISCO, May 19- Wells Fargo& Co is paying a price in the U.S. municipal bond market for the bogus customer accounts scandal that hit the bank last year and led to bans by some cities and states, an analysis of Thomson Reuters data shows. California, along with Massachusetts, Chicago, and Ohio, suspended Wells Fargo last fall from pricing their negotiated...

  • CHICAGO/ SAN FRANCISCO, May 19- Wells Fargo& Co is paying a price in the U.S. municipal bond market for the bogus customer accounts scandal that hit the bank last year and led to bans by some cities and states, an analysis of Thomson Reuters data shows. California, along with Massachusetts, Chicago, and Ohio, suspended Wells Fargo last fall from pricing their negotiated...

  • A man pauses in an alley on May 18, 2017 in Morgantown, West Virginia.

    Call them the unrecovered—a handful of states where job markets, nine years later, are still struggling back to where they were before the recession.

  • May 17- A federal judge signaled that he may reject parts of Wells Fargo& Co's proposed $142 million settlement with customers for whom it opened millions of unauthorized accounts. District Judge Vince Chhabria in San Francisco ordered lawyers for customers and the bank to address his concerns, including whether the entire settlement should be rejected,...

  • May 17- A federal judge signaled that he may reject parts of Wells Fargo& Co's proposed $142 million settlement with customers for whom it opened millions of unauthorized accounts. District Judge Vince Chhabria in San Francisco said he was "strongly inclined" to reject the settlement's provision for an injunction barring customers from pursuing other claims...

  • "Wells Fargo has been a part of the Philadelphia community for more than 140 years and we will vigorously defend our record as a fair and responsible lender." Philadelphia accused Wells Fargo of having since 2004 steered minority borrowers into higher-cost, riskier loans than white borrowers, even if they qualified for loans with easier terms, and refused to let...

  • Philadelphia accused Wells Fargo of intentionally steering minority borrowers into higher-cost loans than white borrowers, even if they qualified for less risky, lower-cost loans. Philadelphia faulted what it said was Wells Fargo's "long history" of "red-lining" in the city and said the bank's practices reflected a "total breakdown of appropriate internal...

  • May 15- The City of Philadelphia on Monday sued Wells Fargo& Co, accusing the largest U.S. mortgage lender of intentionally steering minority borrowers into higher-cost home loans than it offered white borrowers. In a complaint filed in Philadelphia federal court, Philadelphia faulted Wells Fargo's "long history" of "redlining" in Philadelphia, and said the...

  • The new estimate was provided in a filing late Thursday night in the federal court in San Francisco, and is 1.4 million accounts higher than previously reported by federal regulators, in what became a national scandal. Wells Fargo spokesman Ancel Martinez in an email said the new estimate was "based on a hypothetical scenario" and unverified, and did not reflect "...

  • Wells Fargo spokesman Ancel Martinez in an email said the new estimate was "based on a hypothetical scenario" and unverified, and did not reflect "actual unauthorized accounts. District Judge Vince Chhabria in San Francisco is scheduled to consider preliminary approval at a May 18 hearing. John Stumpf and Carrie Tolstedt, who were respectively the San...

  • WELLS FARGO WEALTH BUSINESS HEAD DAVID CARROLL TELLS INVESTORS 30 PERCENT PRE-TAX PROFIT MARGINS "ACHIEVABLE".

  • The company spilled more than 2 million gallons of drilling fluid- mostly water and clay- in Ohio wetlands in April during construction of Rover, prompting regulators to halt drilling in certain areas. It is one of a network of pipelines being built to boost production in the Marcellus and Utica shale regions located largely in Pennsylvania and Ohio, the biggest...

  • But the move, detailed at Wells Fargo's investor day, failed to impress Wall Street, because management also indicated that revenue growth is suffering from the scandal, which involved employees creating as many as 2.1 million unauthorized accounts in customers' names to hit sales targets. The San Francisco- based bank's stock was down 1.7 percent at $53.81 in...

  • Wells Fargo published a presentation on Thursday related to an investor event that showed another $2 billion in expense reductions on top of $2 billion management had earlier outlined. Chief Executive Tim Sloan used the word "unacceptable" at least twice, in reference to prior sales practices and expense levels. As Chief Financial Officer John Shrewsberry...

  • WELLS FARGO CFO SAYS EXPECTED SHIFT BY REGULATORS WOULD ENABLE HIGHER PAYOUT RATIOS OVER TIME.