Hints and tips:
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...Wells Fargo’s bank analyst Mike Mayo has a well-deserved (if not entirely unblemished) reputation for being an unusually acerbic member of the “great quarter guys!” industry....
...The US president announced last month he intends to appoint Saule Omarova as comptroller of the currency, which supervises national banks including Bank of America and Wells Fargo....
...Capital One, Citigroup, Wells Fargo, Synchrony Financial and Santander You’ve built out a system to manage fraud risk, do you want to do credit risk as well?...
...Provisions were higher in the US than in Europe, with more than $57bn across JPMorgan, Wells Fargo, Citigroup and Bank of America alone....
...Or look at the action of banks. This week JPMorgan Chase, Wells Fargo and Citi set aside a record $28bn for bad loans, more than expected....
...He said he expected dividend payments to largely be flat overall this year, and a dividend cut is already factored into Wells Fargo’s share price....
...But a lengthy cycle of loan losses and business failures remains a legitimate risk scenario (just look at the initial reaction to the results from Wells Fargo)....
...Wells Fargo pays more, and JPMorgan and Bank of America not much less. That may not be a great reassurance when the duration of the shutdown is uncertain. But there is another reason for hope....
...Across their overall books senior executives at Bank of America, Wells Fargo and US Bank have publicly said that between 25 per cent and 40 per cent of those who were granted forbearance continued making...
...In the US, $9.5bn of credit charges — including loan loss provisions — pushed Wells Fargo to a $2.4bn loss, while profit fell more than 50 per cent at Citi, Bank of America and JPMorgan....
...“We’re here to help,” said Brian Moynihan of Bank of America. “We are here to help,” said Michael Corbat of Citigroup. “We are all here to help,” said Charlie Scharf of Wells Fargo....
...Since 2016, when US regulators revealed that Wells Fargo had opened millions of unauthorised accounts, nine of 14 members of the bank’s board of directors have stepped down, and the chief executive has changed...
...Saudi Aramco has hired Wells Fargo banker Robert Fernandez to manage its relationship with banks after the oil company completed the world’s biggest share sale....
...(Reuters, FT) JPMorgan and Wells Fargo earnings Earnings season kicks off on Tuesday with two of the biggest US banks giving investors the best impression yet of how the pandemic is weighing on the financial...
...Wells Fargo, where profits fell 90 per cent, did the same. Johnson & Johnson, the drug and consumer products group, managed to raise its dividend but cut its guidance for the year....
...We maintain Market-Perform on NAS (TP NOK 23.8). The airline's fate hangs by a thread and both surviving the crisis, as well as liquidating are plausible outcomes....
...“We continue to be disappointed with Wells Fargo Bank NA’s performance under our consent orders and its inability to execute effective corporate governance and a successful risk management programme,” said...
...(BBG) News round-up Wells Fargo/Eastdil: private property (FT) Renault investors rush to sign up for carmaker’s annual showdown (FT) Wells Fargo CEO search drags on as two top candidates take a pass...
...Once again, Wells Fargo is in trouble....
...JPMorgan Chase and Wells Fargo report today....
...Lynch, Morgan Stanley and Wells Fargo Securities on financials; Wachtell, Lipton, Rosen & Katz and Latham & Watkins on the legal; Joele Frank on PR)....
...Picaud will be replaced at Essilor by Hilary Halper, who joined the company only a year ago as head of M&A after previous stints at GlaxoSmithKline, Wells Fargo and Deutsche Bank....
...(FT) Shareholders rebel at Wells Fargo Directors at Wells Fargo were in the line of fire for their alleged lack of action over illegal practices at the bank during a turbulent board meeting on Tuesday night...
...(WaPo) Clinton blasts Wells Fargo’s “outrageous behaviour” In a letter published on her website, the Democrat slammed the bank for its illegal account opening scandal....
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