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Stock Market & Financial Investment News

News Breaks
June 30, 2014
12:15 EDTUSB, VU.S. Bancorp reaches settlement with U.S. Department of Justice
U.S. Bancorp (USB) announced that it has reached a settlement with the U.S. Department of Justice in order to resolve an investigation relating to the endorsement of mortgage loans under the Federal Housing Administrationís insurance program. The company cooperated fully with the DOJ investigation and chose to settle this matter for $200M without an admission of liability to avoid the path of costly and protracted litigation as well as distractions to the business. U.S. Bancorp has a legacy of being a respected mortgage lender, including a decades-long, strong working relationship with HUD and its FHA loan programs. In addition, during Q2 and prior to the settlement agreement with the DOJ, the company sold 3M shares of the Class B common stock of Visa (V) resulting in a net pretax gain of $214M. After the sale, the company continues to own approximately 9.6M Visa Class B shares. The combination of the settlement and the sale of Visa Class B shares is expected to be neutral to earnings-per-share in Q2.
News For USB;V From The Last 14 Days
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March 29, 2015
18:02 EDTUSBECB stimulus may boost trading opportunities for investment banks, Reuters says
The European economic stimulus plan may boost trading opportunities for major investment banks whose profits have been curtailed by an increase in financial regulations since the financial crisis, says Reuters. 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) and Wells Fargo (WFC). Reference Link
March 27, 2015
11:02 EDTVVisa to miss Russian payment system deadline, CNBC reports
Visa (V) will need one to two months to move its credit card transaction processing in Russia to a local payment system, but MasterCard (MA) will make the April 1 deadline, according to CNBC. Russia ordered foreign card companies to move their transaction processing in Russia to a new local payment system after Russia was sanctioned due to its role in the Ukraine crisis. Reference Link
March 26, 2015
13:03 EDTVSmartMetric wins $3M fee dispute with Visa, MasterCard
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08:17 EDTUSBSEC Chairwoman proposes new 'dark pool' regulation, NY Post says
Securities and Exchange Commission Chairwoman Mary Jo White proposed new regulation Wednesday that would require high-frequency traders to register with the Financial Industry Regulatory Authority and provide the agency with a daily paper trail, reports the New York Post. The Post notes that there is a 60-day comment period before any SEC rule is finalized. 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) and Wells Fargo (WFC). Reference Link
March 25, 2015
09:35 EDTVActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TWTR TSLA KRFT FB BIDU GPRO V GILD NFLX
07:28 EDTVVisa MasterCard should be bought on any weakness caused by currency, says Stifel
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March 24, 2015
07:45 EDTUSBMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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March 23, 2015
07:20 EDTVBarclays to hold a forum
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March 19, 2015
11:53 EDTUSBU.S. banks face headwinds in unloading oil loans, WSJ says
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