Topic: Wells Fargo & Company
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Saving Money Major banks settle with homeowners. Are you entitled?
If your home loan is serviced by one of the five major lenders – including Bank of America and Wells Fargo – you may be entitled to a share of one of the largest civil settlements in history.
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Clues about who's behind recent cyber attacks on US banks
A Middle Eastern hacktivist group appeared to claim responsibility for massive denial-of-service cyber attacks on websites of six US banks. Some experts now say that claim is a 'false flag' to divert attention from the real attackers.
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Mortgage rates fall to record low 3.49 percent
Mortgage rates for 15-year agreements fell to a new record low this week, and the average 30-year rate touched its record low. Mortgage rates matched their lowest level since long-term mortgages began in the 1950s.
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Housing prices: Agents make houses sell for a lot less. On purpose.
Housing prices are manipulated by shady real estate agents who practice 'flopping.' Instead of making homes look good to raise housing prices, tey make them look bad so banks will sell them for a loss.
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Bad news from China sends stocks sliding
After last week's stock market rally, the Dow fell 52 points to close at 13,254 on Monday. Investors hope potential new stimulus funding will send stock prices bouncing back.
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Stocks soar to highest level in four years
US, European stocks surge in response to European Central Bank's plan to buy bonds to support struggling Spain and Italy. S&P 500 rises 28 points; the Dow jumps 244 points to close at 13292.
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Richard Eggers arrested for fake dime in 1963. Fired in 2012.
Richard Eggers's fake dime crime 49 years ago has caused Wells Fargo to fire him in the wake of tightened federal rules on hiring. Richard Eggers says his use of a fake dime in a laundromat was a 'stupid stunt.'
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Federal Deposit Insurance Corporation: Bank profits up from 2011
Federal Deposit Insurance Corporation (FDIC) said Tuesday that the banking industry earned $34.5 billion in the second quarter, up from $28.5 billion in the second quarter of 2011. Banks were also less cautious about lending, though earnings growth remained 'sluggish' according to the Federal Deposit Insurance Corporation.
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As Standard Chartered plunges, taint for London banks spreads
Standard Chartered loses a fifth of its value in early trading a day after allegations of money laundering for Iran. It's the latest of a long string of scandals for London banks.
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Haunted by Europe, US market can't get ahead
While The Street was able to ignore Europe's struggles for the past few days, the struggles of Spain on Friday proved too much for the market to bear. As Spain's stock market plunged 6 percent, the Dow Jones dropped 120 points to close at 12,822.
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Morgan Stanley earnings fall sharply
Morgan Stanley misses Wall Street expectations as revenue for its investment banking unit falls 37 percent. Morgan Stanley stock drops.
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Jump in housing starts, earnings send stocks up
New signs of recovery in the housing market and strong corporate earnings sent stocks higher for a second straight day. The Dow Jones rose 103 points, to close at 12,908. The positive showing comes on the heels of an otherwise dismal start to July trading.
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The Daily Reckoning Did the Feds rig the system?
Bill Bonner and the analysts over at The Daily Reckoning are feeling fairly vindicated this week. They have been investigating how the federal government may have rigged the system over the past 30 years, directing funds to help the rich get richer.
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Happy Friday! JPMorgan launches stock market rally
Showing a vote of confidence in JPMorgan Chase Friday, relieved investors drove up bank stocks, ended a six-day losing streak for the market and sent the Dow Jones industrial average up 204 points, the best day this month, to close at 12,777.
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US stocks plunge after weak June jobs report
Despite preparing for a poor showing, the Dow Jones average plunged 124 points to close at 12,772. The US government reported that only 80,000 jobs were created in June, the third straight month of sluggish growth and weak hiring.
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Stocks rise as oil prices, factory orders also climb
In an abbreviated holiday trading session energy stocks rose due to increased tension over Iran. The major stock indexes moved higher after the government reported that factory orders rose in May. The Dow Jones rose 72 points to close at 12,943.
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Slowing manufacturing numbers lead to mixed day on The Street
Stocks struggled during a quiet start to holiday-week trading following news that American manufacturing numbers seem to have slowed in June. The Dow average fell after the manufacturing report, finishing down 8 points at 12,871.
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Moody's ratings cut for giant banks: a new weight on US economy
Moody's downgrade of the US banking system, following turmoil in Europe's banking sector, is a blow to reputation of banks but is not expected to tip the economy into recession.
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Poor unemployment report points to troubled US economy
The US added 69,000 jobs in May, the Labor Department reported Friday – the third straight month of disappointing jobs numbers. The unemployment rate edged higher, to 8.2 percent.
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Financial aid on a debit card? Students hit with extra fees.
Financial aid can be cheaper to administer when colleges hand it off to debit card companies. But a new study finds students are getting hit with hefty fees.
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The Monitor's View: What next for JPMorgan Chase and Jamie Dimon after $2 billion loss
The JPMorgan Chase $2 billion loss again shows why big banks pose a big risk – as seen in the admission of mismanagement by Jamie Dimon. The selfless purpose of a financial system in the economy must override the selfish risks of giantness in banks.
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Chapter & Verse Target will stop selling Amazon Kindle devices
Is Target now seeing Amazon as an enemy rather than a partner?
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Stock market mixed: Retail sales up, Barbie sales down
Stock market sees Dow rise, but S&P and Nasdaq indexes fall. Mattel shares fall on lower Barbie sales, but a better-than-expected retail sales report buoys stock market.
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U.S. stocks fall; Dow slips below 13000
U.S. stocks closed sharply lower Monday following disappointing job growth in March. The Dow fell 130 points to 12929, its first close below 13000 in a month.
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US stocks plunge; Dow down 124
US stocks suffered their worst losses in a month amid renewed worry over European debt. US stocks on the Dow lost 124 points to close at 13074.
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