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Stock Market & Financial Investment News

News Breaks
August 7, 2014
08:23 EDTC, BAC, WFC, JPML.A. suit against JPMorgan over mortgage lending dismissed, Reuters reports
Though similar cases against other banks brought by the City of Los Angeles alleging unfair practices in mortgage lending have been allowed to go forward, a suit against JPMorgan (JPM) was dismissed, reported Reuters. The judge said that JPMorgan's argument that a 1989 law blocked plaintiffs such as Los Angeles from pursuing many claims over failed banks made the city's lawsuit different from its similar suits against Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC), which have survived motions to dismiss, the report noted. Reference Link
News For JPM;BAC;C;WFC From The Last 14 Days
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August 19, 2015
17:37 EDTBACFINRA investigates Merrill Lynch over money laundering employee, Reuters says
The Financial Industry Regulatory Authority has been investigating Bank of America Merrill Lynch over a former employee who earlier pleaded guilty to an insider-trading and money laundering scheme, reports Reuters, citing a source familiar with the matter. FINRA could resort to enforcement action against the company, likely citing a breach of money laundering laws, according to the sources. Reference Link
16:00 EDTBACOptions Update; August 19, 2015
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14:42 EDTJPMBanks cooperate on data company to lower costs, WSJ says
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10:58 EDTCCiti to pay $15M to settle SEC charges of compliance, surveillance failures
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10:06 EDTCCiti reports July credit loss 2.33% vs. 2.49% last month
Reports July delinquencies 1.46% vs. 1.42% last month.
09:33 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL BAC FB BA TWTR NFLX WMT BABA
06:24 EDTCCiti to give back additional $4.5M in fee overcharges, Reuters reports
Citigroup subsidiary Citigroup Global Markets has reached an agreement with the New York attorney general to return $4.5M in account management fees charged on roughly 15,000 frozen accounts, Reuters reports. As a result of the deal, more than $20M will be refunded to Citi customers for overcharges in a probe started by New York attorney general Eric Schneiderman, the report says. Reference Link
August 18, 2015
17:35 EDTWFCWells Fargo to build additional car loan branches, Reuters says
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16:58 EDTJPMJPMorgan in talks to settle investment bias charges for $150M, WSJ says
JPMorgan is in advanced discussions with the SEC to settle allegations that it inappropriately guided clients to its own investment products, reports the Wall Street Journal, citing people familiar with the matter. Reference Link
16:00 EDTBACOptions Update; August 18, 2015
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08:06 EDTCCiti sells alternative investor services unit to SS&C
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08:02 EDTCSS&C acquires Citi's alternative investor services business
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07:56 EDTCCiti reports July credit loss 2.33% vs. 2.49% last month
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August 17, 2015
14:24 EDTCCiti reports July credit loss 2.33% vs. 2.49% last month
Reports July delinquencies 1.46% vs. 1.42% last month.
10:39 EDTCCitigroup affiliates to pay $180M in SEC settlement
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10:26 EDTBACBank of America reports July default rate 2.67% vs. 2.62% last month
Reports July delinquency rate 1.62% vs. 1.65% last month.
09:38 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT
06:56 EDTCDOJ probes Citi dealings with Carlos Hank Rhon companies, Bloomberg says
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06:12 EDTJPMJPMorgan reports July net credit losses 2.31% vs. 2.34% last month
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05:55 EDTJPMJPMorgan upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Christopher Mutascio upgraded JPMorgan to Outperform with a $77 price target, suggesting total return potential of 16%. Mutascio views the stock's valuation as attractive and highlights the "high dividend yield in a low-interest-rate environment."
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