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Stock Market & Financial Investment News

News For WFC;BAC;C;GS;MS;USB;JPM From The Last 14 Days
Check below for free stories on WFC;BAC;C;GS;MS;USB;JPM the last two weeks.
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August 6, 2014
07:55 EDTJPMJP Morgan August volatility increases as shares pull back
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07:53 EDTCCitigroup volatility at two-year average
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07:43 EDTWFCWells Fargo relaxes 'jumbo' mortgage guidelines, Reuters says
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06:58 EDTUSBU.S. Bancorp August volatility elevated
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06:40 EDTWFCWells Fargo volatility at two-year average
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06:30 EDTGSDeutsche Bank, Goldman near agreement for NBG unit, Bloomberg says
The private-equity arms of Deutsche Bank (DB) and Goldman Sachs (GS) are close to finalizing a deal to purchase the buyout division of National Bank of Greece (NBG) for close to $506M, according to Bloomberg, citing two people with knowledge of the matter. Reference Link
06:27 EDTMSMorgan Stanley says continuing to respond to subpoenas, requests for information
Morgan Stanley said in a filing that it is continuing to respond to subpoenas and requests for information from certain federal and state regulatory and governmental entities, including among others various members of the RMBS Working Group of the Financial Fraud Enforcement Task Force, concerning the origination, financing, purchase, securitization and servicing of subprime and non-subprime residential mortgages and related matters such as residential mortgages backed securities, collateralized debt obligations, structured investment vehicles and credit default swaps backed by or referencing mortgage pass through certificates. These matters include, but are not limited to, investigations related to the companyís due diligence on loans that it purchased for securitization, the companyís communications with ratings agencies, the companyís disclosures to investors, and the Companyís handling of servicing and foreclosure related issues. On May 8, the California Attorney Generalís Office, which is one of the members of the RMBS Working Group, indicated that it has made certain preliminary conclusions that the Company made knowing and material misrepresentations regarding RMBS and that it knowingly caused material misrepresentations to be made regarding the Cheyne SIV, which issued securities marketed to the California Public Employees Retirement System. The CAAG has further indicated that it believes the companyís conduct violated California law and that it may seek treble damages, penalties and injunctive relief. The company does not agree with these conclusions and has presented defenses to them to the CAAG. On July 23, the U.S. SEC approved the companyís Offer of Settlement to resolve the SECís investigation of certain subprime RMBS transactions sponsored and underwritten by the company in 2007. Pursuant to the settlement, the company was charged with violating Sections 17(a)(2) and 17(a)(3) of the Securities Act, agreed to pay disgorgement and penalties in an amount of $275M and neither admitted nor denied the SECís findings.
06:25 EDTMSMorgan Stanley says added $53M to legal costs in Q2, cutting EPS by 2c
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06:23 EDTBAC, WFC, MSSecurities Industry & Financial Markets Association to hold a seminar
Compliance & Legal Society Regional Seminar to be held in San Francisco on August 6.
06:19 EDTMS, WFCCFA Society of Minnesota to hold a conference
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