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Stock Market & Financial Investment News

News Breaks
April 1, 2014
08:32 EDTWFC, DDSWells Fargo, Dillard's announce new credit card agreement
Wells Fargo (WFC) and Dillardís (DDS) announced that the two companies have entered into an agreement for Wells Fargo to fund, issue and service Dillardís-branded private label and co-brand credit cards. Wells Fargo will also manage the cardholder loyalty program for Dillardís. The program agreement has a 10-year term and is anticipated to become operational in 4Q14, following the scheduled expiration of Dillardís current program agreement. Financial terms of the agreement were not disclosed. Dillardís management believes its earnings from the new program exclusive of startup costs will be comparable to its historical earnings from the Dillardís branded credit card products and believes that earnings will increase with future program growth.
News For WFC;DDS From The Last 14 Days
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June 25, 2015
07:13 EDTWFCFed director says full transparency in stress testing can be 'enormous weakness'
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June 23, 2015
13:02 EDTWFCSumitomo, others show interest in GE railway-leasing business, WSJ says
Japan's Sumitomo Mitsui Financial Group is interested in buying General Electric's (GE) railway-leasing business, says the Wall Street Journal, citing sources. Wells Fargo (WFC) and other U.S. financial institutions have also shown interest in GE Capital Rail Services, which may be worth around $4B, added the Wall Street Journal, citing people familiar with the matter. Reference Link
June 18, 2015
15:46 EDTWFCWells Fargo names Hope Hardison as Chief Administrative Officer
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June 17, 2015
15:04 EDTWFCGE Capital Real Estate closes nearly $10B in deals towards exit
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11:16 EDTWFCOCC restricts some banks from certain mortgage related business activity
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11:07 EDTWFCWells Fargo issues statement on amended OCC Consent Order
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06:48 EDTWFCMore big banks waiving overdraft fees, WSJ reports
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June 16, 2015
07:11 EDTWFCSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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June 15, 2015
07:33 EDTWFCBig banks may target fee-generating firms for acquisitions, WSJ says
Large U.S. banks may begin targeting fee-generating businesses as possible takeover targets, the Wall Street Journal reports. Big banks may start looking at businesses that donít require too much capital for acquisitions, such as advisory businesses, payment processing, treasury services, and financial tech, the report says. Even though heightened capital and liquidity requirements make many types of acquisitions ďunappealingĒ to big banks, the idea of banks even as big as JP Morgan (JPM) pursuing a multi-billion dollar deal is ďno longer out of the realm of possibility,Ē the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link

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