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...Wells Fargo paid nearly $594mn more in fees to depositors in the first quarter of this year than it did in the previous three months....
...Other top banks Citigroup, JPMorgan Chase and Wells Fargo also recorded drops in lending in the first three months of the year as they revealed results late last week....
...Wells Fargo shares closed 1.4 per cent lower in New York on Tuesday, as the S&P 500 dropped 0.1 per cent....
...attempt to recategorise ether as a security....
...Wells Fargo has named Doug Braunstein as a vice-chair. He has previously been a senior investment banker and executive at JPMorgan....
...Wells still operates under a Federal Reserve order that caps its assets because of lingering regulatory concerns. Sloan joined the investment firm Fortress as a senior adviser in 2020....
...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...
...Bank of America, Barclays, Citigroup, Jump Trading, JPMorgan Chase, Morgan Stanley, Tower Research Capital and Wells Fargo are also investing in FMX....
...Please tell us if think the Wells Fargo asset cap will be lifted in the comments section below....
...Wells Fargo has partnered with asset manager Centerbridge to launch a $5bn private credit fund that will lend to mid-sized US companies, as banks race to find a toehold in the rapidly growing private credit...
...Additional costs depended on the size and nature of the fund, as well as flows, Whelan said....
...Here’s what else I’m keeping tabs on today: Earnings: The major US banks begin reporting earnings today, with JPMorgan, Citi and Wells Fargo all updating investors....
...Despite this, in recent days executives from the country’s four largest banks — JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — said during earnings calls that consumers were resilient....
...funds that were launched years ago for select clients of firms such as Wells Fargo and JPMorgan....
...Job moves Wells Fargo has hired Fernando Rivas to run its corporate and investment bank alongside Jon Weiss, The Wall Street Journal reports. He previously worked for JPMorgan....
...Wells Fargo has partnered with asset manager Centerbridge to launch a $5bn private credit fund that will lend to midsized US companies, as banks race to find a toehold in the rapidly growing private credit...
...Robinhood said the regulator was assessing whether certain assets on its platform were securities....
...Wells Fargo says its net interest spread is 3.1 per cent, but it would be 2.39 per cent without the non-interest liabilities, of which $383bn are deposits....
...The deal struck by the bloc’s 27 ambassadors on Wednesday only targets profits made by Belgium’s central securities depository Euroclear, where about €190bn of Russian central bank assets are held....
...The history of fintechs that make consumer loans, a group that includes SoFi and Prosper as well as Upstart and Lending Club, has been rocky....
...“You’re going to need some pretty well-entrenched and well-versed entities to make that next step.” Additional reporting by Kate Duguid in New York...
...Wells Fargo and Wilmington Savings Fund Society are named in the suit having allegedly provided administration services to FCI. They have been contacted for comment. How big a deal might all this be?...
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...Buried towards the back of its latest annual securities report, DIC declares Y67bn ($440mn) of corporate assets “that do not belong to any reportable segment”....
...Last May, the SEC ordered a small North Dakota-based adviser to pay out $1 million for investing client assets in leveraged ETFs....
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