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Stock Market & Financial Investment News

News Breaks
March 12, 2014
06:46 EDTWFC, BAC, USB, JPM, CSenators reach deal to eliminate Fannie Mae, Freddie Mac
Yesterday Senate Banking Committee Chairman Tim Johnson, a Democrat, and Ranking Member Mike Crapo, a Republicans, announced that they had reached an agreement on a housing finance reform proposal. according to a press release issued by Crapo. Under the deal Fannie Mae and Freddie Mac would be wound down and eliminated, the press release stated. It would mandate 10% private capital, up front, and create a mortgage insurance fund for the system to protect taxpayers against future bailouts, the statement added. The proposal would also require strong underwriting standards and facilitate the broad availability of credit for eligible single-family and multifamily borrowers, the press release reported. Publicly traded companies involved in mortgages include Bank of America (BAC), Citigroup (C), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). [Reference Link]:[http://www.crapo.senate.gov/media/newsreleases/release_full.cfm?id=350500
News For C;USB;WFC;JPM;BAC From The Last 14 Days
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November 13, 2014
08:33 EDTWFCWells Fargo sells federal student loans to Navient
Wells Fargo & Co. (WFC) Education Financial Services announced that Navient (NAVI) will purchase a principal balance of $8.5B of Federal Family Education Loan Program loans, which are included in Wells Fargo’s held-for-sale loan portfolio. Due to a change in federal law, Wells Fargo has not issued federal student loans since June 30, 2010. This sale supports Wells Fargo’s ongoing strategic focus on its private student lending business. “By selling these FFELP loans to Navient, Wells Fargo will be in a position to focus more on meeting the needs of our private student loan customers,” said John Rasmussen, head of Wells Fargo’s Education Financial Services. “We are deeply committed to the private student loan business because next to purchasing a home or saving for retirement, paying for an education is one of the most important financial events for our customers.” ). The sale is expected to close in a series of transactions, substantially all of which are expected to be completed in fourth quarter 2014, subject to customary closing conditions. Terms of the transaction were not disclosed and the sale is not material to Wells Fargo.
07:38 EDTJPMBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
November 12, 2014
16:23 EDTBAC, C, JPMOn The Fly: Closing Wrap
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12:38 EDTBAC, JPM, COn The Fly: Midday Wrap
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11:45 EDTUSBU.S. Bancorp CEO says relieved bank is not bigger than it is
Sees better industry wide loan growth in 2015 vs. 2014. Says consumers cautious getting deeper in auto, credit cards. Comments made at the Bank of America Merrill Lynch Banking and Financial Services Conference.
10:19 EDTJPMJPMorgan pays $1.01B to settle FX charges, says litigations ongoing
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10:14 EDTJPM, C, BACOCC fines Bank of America, Citigroup, JPMorgan $950M over FX trading
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10:07 EDTCCitigroup to pay $1.02B to settle foreign exchange investigations
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10:06 EDTCCitigroup announces foreign exchance settlements
10:00 EDTJPMOn The Fly: Analyst Downgrade Summary
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09:37 EDTCActive equity options trading
Active equity options trading according to Track Data: AAPL CLSN TWTR BABA NFLX TSLA AMZN CSIQ C
09:36 EDTWFC, JPMInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
08:57 EDTC, JPMBarclays excluded from forex settlement due to issues with NYDFS, Reuters says
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08:13 EDTJPM, CBoston Biotech to hold a conference
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08:07 EDTCMacy's, Citi Retail Services renew card agreement
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07:28 EDTC, JPM, USB, BAC, WFCBofA/Merrill to hold a conference
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07:02 EDTJPMJPMorgan makes changes in response to foreign exchange probe, Reuters says
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06:12 EDTC, JPMCFTC fines five banks $1.4B for manipulation of FX benchmark rates
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06:05 EDTC, JPMFCA fines five banks $1.7B over FX trading operations
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06:04 EDTJPMJPMorgan downgraded to Market Perform from Outperform at Bernstein
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