Topic: Wells Fargo & Company

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Top 4 tips to keep your broker honest

Maybe individual investors can’t fix the broad regulatory breakdown that has allowed financial frauds to occur, like dodgy mortgage-backed securities and Bernie Madoff’s pyramid scheme. But they can take steps to protect themselves against unscrupulous financial advisers. Knowledge is the best weapon. The more investors know, the less likely they are to be taken advantage of by a dishonest broker. Here are four ways you can ensure your broker is following the rules:
Eight ways $100 oil may affect you

Here are eight ways that higher energy prices are starting to affect America.
Where unemployment is falling: a tale of six 'most improved' states

In July, the unemployment rate declined in more states than it rose. The changes were not dramatic, but this news from the US Labor Department on Friday highlighted the uneven pace of economic recovery in the 50 states.
Here's a look at six states that have made the most headway against unemployment this year. The beginning of the year arrived when the total number of US jobs had reached a recession-related low point.
This tale of six states reveals trends that are taking root elsewhere in the economy.
In Pictures: Developments in robotics

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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.
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.
Chapter & Verse
Target will stop selling Amazon Kindle devices

Is Target now seeing Amazon as an enemy rather than a partner?
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.
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.
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.
Secret Service probes major credit card breach

Credit card breach at an Atlanta card-processor affects Visa, MasterCard, American Express, and Discover. The number of accounts affected by the security breach is not yet known.
U.S. stocks mixed on a quiet day

U.S. stocks were mostly unchanged Wednesday, a calm day in the middle of a bumpy week. U.S stock on the Dow fell 45 points to close at 13124.
Mortgage deal: Banks impeded probe, HUD says

Mortgage deal has forced banks to pay $25 billion, mostly to current and former homeowners. But in the run-up to the mortgage deal, banks delayed handing over foreclosure documents and prevented federal investigators from interviewing employees, the Department of Housing and Urban Development says.
Wells Fargo fees pop up in six more states

Wells Fargo fees of $7 per month already being applied to checking accounts in 23 states. To avoid Wells Fargo fees, customers must have minimum balance or direct deposit of their paychecks.
Gas prices: How much will they hurt the economy? (+video)

Gas prices are slated to hit new highs within months. How might that affect the modest economic recovery? Here's a clue: Every 10-cent rise per gallon in gas prices costs the US economy $11 billion.
Checking fees too high? Customers eye credit unions.

Checking fees, other charges caused credit unions to gain double the normal number of customers. Mulling more hikes in checking fees, big banks could lose more customers, advocates say.
The Reformed Broker
Manufacturer needs and worker skills don't match up

Manufacturing  jobs are growing slowly because laborers don't have the skills that factories need. 
US stocks shrug off higher gas prices to push Dow above 13,000

Better economic news from Europe helped lift US stocks past the symbolic plateau. The Dow last closed above 13,000 in May 2008, before the collapse of the housing market.
Dow breaks 13000 but can't stay there

The Dow rose 15 points to close at 12965, just shy of the 13000 mark that it crossed earlier Tuesday. It was the first time the index had reached that mark since 2008.
Stock market: After almost 4 years, Dow cracks 13000

The stock market hit a big milestone Tuesday, as the Dow Jones industrial average hit 13000 for the first time since 2008. The stock market got the final push from strong corporate earnings reports and a Greek bailout deal.
The Reformed Broker
Big brokerage firms aren't paying attention to their clients

As financial firms become bigger and bigger, they are focused on corporate profitability over the satisfaction of their brokers and clients.
Mortgage relief plan: Can it spark housing rebound?

Mortgage relief aimed at trying to boost lagging housing sector. Most of the $25 billion mortgage relief will go to homeowners struggling to pay their mortgages.
Will $26 billion settlement from big banks repair US housing market? (+video)

In the short term, the deal between 49 states and five big banks may actually boost foreclosures, some say. In the longer term, it should clear the inventory of homes that depresses prices and help the middle class.
Mortgage deal could help 2 million Americans

Proposed $25 billion settlement with major mortgage lenders would be biggest in 14 years. Much of the money would go to struggling homeowners and former homeowners hit by improper foreclosures.
Foreclosure deal close in several key states

Foreclosure deal adopted in more than 40 US states would force mortgage lenders to reduce loans for about 1 million households. Two key states, New York and California, are close to adopting the foreclosure deal.
New window on Fed thinking: Interest rates to stay low until 2014

Delivering on a recent promise to convey its policy intentions more transparently to investors and the public, the Fed said it expected to keep short-term interest rates low into 2014.
Electric vehicles entrepreneur from China stumbles in US

Electric vehicles partsmaker has string of California projects delayed or canceled for lack of cash. But research center for electric vehicles and other green power is funded and operating.
Good news in Europe, China lifts stocks

Slight improvements in Europe's troubled debt markets and China's economy lifted stocks Tuesday. The Dow rose 60 points to close at 12482
2012 economic outlook: What's in store for next year?

With the housing market and auto sales showing some signs of life, pundits predict a better economy for 2012. But the ripple from a European downturn could erode the economic pace in the US.