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February 10, 2012
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| 14:36 EDT |  | WFC |
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| 07:26 EDT |  | WFC |
| theflyonthewall.com: | Banks' foreclosure settlement just the beginning of its troubles, Bloomberg says |
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| 06:18 EDT | | WFC |
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February 9, 2012
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| 16:42 EDT | | WFC |
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| 13:15 EDT |  | WFC |
| theflyonthewall.com: | Wells Fargo CFO says bank can do investment banking in a risk appropriate way | | :theflyonthewall.com |
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| 13:13 EDT | | WFC |
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| 13:07 EDT | | WFC |
| theflyonthewall.com: | Wells Fargo mortgage business benefiting from refinancing activity | | :theflyonthewall.com |
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| 13:04 EDT | | WFC |
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| 13:04 EDT | | WFC |
| theflyonthewall.com: | Wells Fargo expects response on capital plan from Fed in March | | :theflyonthewall.com |
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| 12:59 EDT | | WFC |
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| 12:31 EDT | | WFC |
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| 12:09 EDT | | WFC |
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| 11:51 EDT | | WFC |
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| 11:18 EDT | | WFC |
| theflyonthewall.com: | Wells Fargo says $5.3B settlement does not result in current period charges | | The company said that, as of December 31, 2011, the company had fully accrued for the Foreclosure Assistance Payment. Similarly, as of December 31, 2011, the expected impact of the Consumer Relief Program was covered in our allowance for credit losses and in the non-accretable difference relating to our purchased credit-impaired residential mortgage portfolio. The Refinance Program will not result in any current-period charge as the impact of this program will be recognized over a period of years in the form of lower interest income as qualified borrowers benefit from reduced interest rates on loans refinanced under the program. :theflyonthewall.com |
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| 11:17 EDT | | WFC |
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| 10:35 EDT | | WFC |
| theflyonthewall.com: | DOJ announces $25B settlement with five largest mortgage servicers | | U.S. Attorney General Eric Holder, Department of Housing and Urban Development Secretary Shaun Donovan, Iowa Attorney General Tom Miller and Colorado Attorney General John W. Suthers announced that the federal government and 49 state attorneys general have reached a landmark $25B agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses. The joint federal-state group entered into the agreement with the nation’s five largest mortgage servicers: Bank of America Corporation (BAC), JPMorgan Chase (JPM), Wells Fargo & Company (WFC), Citigroup (C) and Ally Financial, formerly GMAC. The joint federal-state agreement requires servicers to implement comprehensive new mortgage loan servicing standards and to commit $25 billion to resolve violations of state and federal law. Under the terms of the agreement, the servicers are required to collectively dedicate $20B toward various forms of financial relief to borrowers. Mortgage servicers are required to fulfill these obligations within three years. In addition to the $20 billion in financial relief for borrowers, the agreement requires the servicers to pay $5B in cash to the federal and state governments. :theflyonthewall.com |
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| 10:26 EDT | | WFC |
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| 10:07 EDT | | WFC |
| theflyonthewall.com: | Government settlement with banks over foreclosures could go to $40B, CNBC says |
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| 09:53 EDT | | WFC |
| theflyonthewall.com: | California AG announces $18B settlement with banks over foreclosure practices |
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| 09:15 EDT | | WFC |
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| 07:09 EDT | | WFC |
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| 06:29 EDT | | WFC |
| theflyonthewall.com: | Government nears $26B deal with banks over alleged foreclosure abuses, WSJ says |
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February 8, 2012
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| 08:21 EDT | | WFC |
| theflyonthewall.com: | Mortgage lenders mostly reserved for settlement deal, Reuters reports | | Five of the country's biggest mortgage lenders--Bank of America (BAC), JPMorgan Chase (JPM), Wells Fargo (WFC), Citigroup (C) and Ally Financial--are moving closer to a $25B settlement over foreclosure abuses, and it's now being understood that any deal will have little or no impact on their future bottom lines, reports Reuters. Reference Link :theflyonthewall.com |
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| 07:38 EDT | | WFC |
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| 07:12 EDT | | WFC |
| theflyonthewall.com: | NY attorney general fails to support mortgage settlement, Washington Post says |
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| 06:22 EDT | | WFC |
| theflyonthewall.com: | On the Fly: Periodicals Wrap-Up | | WALL STREET JOURNAL: GM (GM) is preparing to disclose "horrendous" Q4 losses in its European Opel/Vauxhall unit and is demanding steep cuts from labor unions there, a GM official said, adding that the auto maker's patience with the money-losing operation is running out, the Wall Street Journal reports...Apple (AAPL) asked the European Telecommunications Standards Institute to set basic principles governing how member companies license their patents, the Wall Street Journal reports...BLOOMBERG: JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC) were sued by New York Attorney General Schneiderman over the use of a mortgage database that the state said led to improper foreclosures, Bloomberg Businessweek reports...Wall Street groups, the International Swaps and Derivatives Assn. and the Securities Industry and Financial Market Assn., sought to have U.S. District Judge Robert Wilkins in Washington delay a U.S. Commodity Futures Trading Commission rule that limits speculation, saying the regulation is already imposing “significant, irreversible costs,” Bloomberg reports...REUTERS: British Airways (BAIRY) and Japan Airlines (JALSY) agreed on a revenue sharing deal for flights between Europe and Japan, Reuters reports. :theflyonthewall.com |
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February 7, 2012
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| 14:20 EDT | | WFC |
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| 06:22 EDT | | WFC |
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| 05:49 EDT | | WFC |
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| 04:56 EDT | | WFC |
| theflyonthewall.com: | Wells Fargo has 728,024 active trial, copmpleted modifications thru Dec. 2011 | | Wells Fargo reported that as of Dec. 31, 2011 the company had 728,024 active trial or completed mortgage modifications started since January 2009. Approximately 84% of those, or 614,117 modifications, were done through the company’s own programs and 113,907 were done through the federal government’s Home Affordable Modification Program, or HAMP. :theflyonthewall.com |
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February 6, 2012
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| 08:00 EDT | | WFC |
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| 07:00 EDT | | WFC |
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February 3, 2012
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| 11:58 EDT | | WFC |
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| 11:47 EDT | | WFC |
| theflyonthewall.com: | BofA, JP Morgan, Wells Fargo sued by NY Attorney General, Reuters reports | | Bank of America (BAC), JP Morgan (JPM) and Wells Fargo (WFC) are being sued by NY's Attorney General over the use of MERS mortgage system, Reuters reports. :theflyonthewall.com |
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| 06:08 EDT | | WFC |
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February 2, 2012
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| 12:30 EDT | | WFC |
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February 1, 2012
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| 11:46 EDT | | WFC |
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| 08:04 EDT | | WFC |
| theflyonthewall.com: | U.S. considers sovereign debt exemption from Dodd-Frank ban, Bloomberg reports |
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January 31, 2012
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| 07:07 EDT | | WFC |
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| 06:34 EDT | | WFC |
| theflyonthewall.com: | New 401(k) rules to require fee disclosure, WSJ reports | | Backed by the Labor Department, rules governing 401(k) retirement plans are about to change, and potentially result in savings for millions of American, reports the Wall Street Journal. Plan administrators and investment companies are to disclose the costs, as companies look to lower fees and offer new investment choices.Reference Link :theflyonthewall.com |
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| 06:26 EDT | | WFC |
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| 06:20 EDT | | WFC |
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January 30, 2012
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| 14:42 EDT | | WFC |
| theflyonthewall.com: | Fed says banks experienced stronger loan demand | | Domestic banks reported that their lending standards had changed little and that they had experienced somewhat stronger loan demand, on net, over the past three months, the Fed said in its January 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices. Regarding business loans, domestic banks reported, on balance, little change in standards on commercial and industrial, or C&I, loans but a continued easing of pricing terms on such loans during the fourth quarter, the central bank said. Domestic banks reportedly experienced stronger demand for C&I loans from firms of all sizes on net, the central bank said. The net fraction of banks reporting increased demand from small firms rose to its highest level since 2005. the Fed found. :theflyonthewall.com |
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| 07:18 EDT | | WFC |
| theflyonthewall.com: | Some doubt whether CDS would provide protection from E.U. shock, NY Times says |
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| 05:51 EDT | | WFC |
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January 29, 2012
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| 22:15 EDT | | WFC |
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January 27, 2012
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| 15:07 EDT | | WFC |
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| 07:00 EDT | | WFC |
| theflyonthewall.com: | EC thinks Volcker rule could worsen its crisis, WSJ reports | | The European Commission will tell Treasury Secretary Timothy Geithner that the so-called "Volcker rule," which would restrict U.S. banks from making bets with their own capital, could increase funding costs for the region's governments and worsen its crisis, according to an interview with Michel Barnier, the European commissioner for the internal market, reported The Wall Street Journal. Reference Link :theflyonthewall.com |
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