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Stock Market & Financial Investment News

News Breaks
April 14, 2014
08:32 EDTALLY, USBU.S. Bancorp to acquire document custodian business from Ally Bank
U.S. Bancorp (USB) announced that its lead bank, U.S. Bank National Association, has entered into a definitive agreement to purchase the document custodian business of Ally Bank (ALLY). The acquisition of Ally’s document custodian business, which is expected to close early in the second quarter of 2014, will add up to 40 employees to U.S. Bank, one new service location in Waterloo, Iowa and increase documents under custody by 15%.
News For USB;ALLY From The Last 14 Days
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October 7, 2015
08:12 EDTALLYJefferies likes valuations for auto finance companies into Q3 results
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October 5, 2015
09:19 EDTALLYMorgan Stanley recommends buying Ally Financial into earnings results
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06:53 EDTUSBAverage ATM fees reach $4.52, WSJ says
The average ATM fee rose to $4.52 this year as regulators have pressured banks to reduce other fees and consumers aren't using ATMs as frequently as in the past, reports the Wall Street Journal, citing a Bankrate Inc. survey. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), Wells Fargo (WFC), and Cardtronics (CATM). Reference Link
October 2, 2015
13:26 EDTUSBBanks, brokers slide as weak jobs report pushes out rate hike
Shares of banks and brokers are sliding after a weak jobs report pushed out the probability of near-term rate hike. WHAT'S NEW: Friday morning, the Labor Department reported that the U.S. economy added only 142,000 jobs in September compared to economists expectations of 203,000. The Labor Department's September jobs report strengthened the argument that the Fed will not raise rates in October, and even lessened the probability of a December rate hike. An increase in interest rates would let banks and brokers benefit from higher spreads on deposits. PRICE ACTION: Shares of Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), and Wells Fargo (WFC) are all declining despite a rebound in the broad market. OTHERS TO WATCH: Shares of online brokers, including TD Ameritrade (AMTD), Charles Schwab (SCHW), E*TRADE (ETFC), and Interactive Brokers (IBKR) are also lower in afternoon trading.
07:56 EDTALLYGM taking another step back from Ally, WSJ reports
Ally Financial (ALLY) relied on subvented General Motors' (GM) loans for $700M in Q2, so GM's plan, announced yesterday, to move the marketing support for subvented U.S. auto loans to its GM Financial lending unit and away from Ally Financial represents a relatively modest portion of the $10.8B in originations Ally did in its Q2, but it also represents another GM step back from the former GMAC lender, The Wall Street Journal reported. Reference Link
September 30, 2015
07:46 EDTUSBFed liftoff may be more turbulent for banks than expected, WSJ says
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