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Stock Market & Financial Investment News

News Breaks
June 30, 2014
12:15 EDTV, USBU.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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June 30, 2015
19:32 EDTVMasterCard stops processing Backspace.com ad purchases, WSJ says
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June 25, 2015
07:13 EDTUSBFed director says full transparency in stress testing can be 'enormous weakness'
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June 24, 2015
08:56 EDTUSBU.S. Bancorp profited from buying bonds for below market prices, WSJ says
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June 19, 2015
06:42 EDTVAmEx to stop restricting merchants from favoring rivals, WSJ reports
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June 18, 2015
10:01 EDTUSBOn The Fly: Analyst Initiation Summary
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07:08 EDTUSBU.S. Bancorp initiated with an Equal Weight at Stephens
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June 17, 2015
11:25 EDTUSBU.S. Bancorp receives $55M in tax credit allocation
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06:48 EDTUSBMore big banks waiving overdraft fees, WSJ reports
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June 16, 2015
14:01 EDTUSBU.S. Bancorp raises quarterly dividend 4.1% to 25.5c per share
The dividend is payable July 15 to shareholders of record at the close of business on June 30.
07:11 EDTUSBSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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