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Texas gains 8 rigs as US rig count rises to 1,013

Among major oil- and gas-producing states, Texas added eight rigs while Louisiana and New Mexico each added one. Colorado and North Dakota each declined by two rigs while Ohio, Oklahoma and Pennsylvania dropped one apiece. Alaska, Arkansas, California, Kansas, Utah, West Virginia and Wyoming were unchanged.

Published on 20 April 2018 | 9:16 pm


U.S. banks push mortgage apps as home lending slows

NEW YORK, April 20- Big U.S. banks are racing to launch websites and mobile apps to make getting a mortgage faster and easier, investments that may have modest near-term payoffs as home lending activity slows. Quicken is the second-largest U.S. mortgage lender according to data from Inside Mortgage Finance Publications. The app is now key to its mortgage sales...

Published on 20 April 2018 | 7:30 pm


UPDATE 2-Wells Fargo agrees to pay $1 bln to settle customer abuses

April 20- Wells Fargo& Co will pay $1 billion to settle with U.S. regulators who say the bank wrongly layered insurance on hundreds of thousands of drivers and routinely hit homebuyers with excessive fees, officials said on Friday. The penalty was a record from the U.S. Consumer Financial Protection Bureau and comes more than eighteen months after Wells Fargo...

Published on 20 April 2018 | 5:53 pm


Wells Fargo agrees to pay $1 bln to settle customer abuses

April 20- Wells Fargo& Co has agreed to pay $1 billion in penalties to federal regulators to settle a probe into abuses at its auto and mortgage businesses, the bank and regulators said on Friday, confirming an earlier Reuters report. Wells Fargo said the settlement reduces its reported first-quarter 2018 net income by 16 cents per share to 96 cents per share.

Published on 20 April 2018 | 1:59 pm


WELLS FARGO ENTERS CONSENT ORDERS WITH OCC AND CFPB; GÇìTO PAY $1 BLN IN CIVIL MONEY PENALTIESGÇï

WELLS FARGO ENTERS CONSENT ORDERS WITH OCC AND CFPB; TO PAY $1 BLN IN CIVIL MONEY PENALTIES.

Published on 20 April 2018 | 1:18 pm


Wells Fargo nears $1 bln settlement for loan abuses - source

April 19- Wells Fargo& Co is close to settling a record fine of $1 billion imposed by two U.S. regulators for its risk management business, a source familiar with the matter told Reuters on Thursday. Last week, the U.S. Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency proposed Wells Fargo to pay the penalty to resolve probes into...

Published on 19 April 2018 | 10:23 pm


Reports: Wells Fargo to be fined $1B as early as Friday

NEW YORK— Federal regulators plan to fine Wells Fargo as much as $1 billion as early as Friday for abuses tied to its auto-lending and mortgage businesses, The New York Times and other news outlets reported, citing unnamed sources. The potential $1 billion fine would be largest ever imposed by the Office of the Comptroller of the Currency, the bank's main national...

Published on 19 April 2018 | 9:53 pm


Trump's looming trade war gives Democrats an opening in farm country

But Trump's escalating trade dispute with China would hit farmers hard, giving Heitkamp and other Democrats a rare political opportunity in a region where they have struggled for decades. The crop is farm country's most valuable export to China, worth $12 billion last year. The trans-Pacific quarrel strikes at the heart of Trump's rural support in farm states,...

Published on 19 April 2018 | 9:22 pm


Dakotas sunflower seed competitors settle federal lawsuits

FARGO, N.D.— Federal lawsuits between two sunflower seed competitors in the Dakotas who accused each other of false advertising have been settled out of court. Wahpeton, North Dakota- based Giant Snacks Inc. filed the original lawsuit against Mound City, South Dakota- based Wild Dutchman Products Inc. and one of its partners. Giant Snacks attorneys Donna...

Published on 19 April 2018 | 8:18 pm


Tribes' request for more say in Dakota Access study denied

BISMARCK, N.D.— A judge has rejected the request by two American Indian tribes to be more involved in a court-ordered environmental review of the Dakota Access oil pipeline. District Judge James Boasberg last June ordered the Army Corps of Engineers to further review the pipeline's impact on tribal interests, though he allowed oil to begin flowing.

Published on 18 April 2018 | 4:48 pm


UPDATE 4-U.S. Supreme Court struggles with e-commerce sales tax case

*Online retailers battle South Dakota over sales taxes. *South Dakota is backed by the Trump administration. South Dakota asked the justices to overturn a 1992 Supreme Court precedent that states cannot require retailers to collect state sales taxes unless the businesses have a "physical presence" in the state.

Published on 17 April 2018 | 7:07 pm


UPDATE 3-U.S. Supreme Court struggles with e-commerce sales tax case

*Online retailers battle South Dakota over sales taxes. *South Dakota is backed by the Trump administration. South Dakota asked the justices to overturn a 1992 Supreme Court precedent that states cannot require retailers to collect state sales taxes unless the businesses have a "physical presence" in the state.

Published on 17 April 2018 | 6:09 pm


Bangladesh eyes settlement in U.S. cyber heist suit ahead of its own case

NEW YORK/ DHAKA, April 16- An Ecuadorian bank and Wells Fargo have reached an out-of-court settlement over a 2015 cyber heist, providing a possible precedent for the Bangladesh central bank's planned suit to recover $66 million still lost in one of the world's biggest such cases. Hackers breached Bangladesh Bank's systems in early 2016 and tricked the Federal...

Published on 16 April 2018 | 12:00 pm


US STOCKS-Wall St falls as bank stocks, Syria conflict weigh

*Boeing drops on Russia plan, issues with plane engines. NEW YORK, April 13- Financial stocks led a drop on Wall Street on Friday as results from big banks failed to enthuse and fear of broader conflict in Syria further unnerved investors. Wells Fargo sank 3.4 percent after the bank said it may have to pay a penalty of $1 billion to resolve investigations, while...

Published on 13 April 2018 | 8:33 pm


UPDATE 4-Wells Fargo faces $1 billion fine from loan abuses

April 13- Two U.S. regulators have proposed Wells Fargo& Co pay $1 billion in penalties to resolve probes into auto insurance and mortgage lending abuses at the third largest U.S. bank, overshadowing its first quarter results. Analysts said that while the $1 billion penalty would not make a significant dent to its balance sheet, it may take the bank some time to...

Published on 13 April 2018 | 8:33 pm


US STOCKS-Bank stocks lead Wall St lower amid Syria tensions, Russia trade threat

*Russia lawmakers draft list of US imports it could ban. *Boeing drops on Russia plan, issues with plane engines. NEW YORK, April 13- Financial stocks led a drop on Wall Street on Friday, as results from big banks failed to enthuse and geopolitical tensions in Syria and Russia further unnerved investors.

Published on 13 April 2018 | 7:45 pm


WRAPUP 2-U.S. bank executives see delayed boost from tax overhaul

NEW YORK, April 13- Banks have not reaped the full benefit of U.S. tax cuts, Wall Street executives said on Friday after a string of quarterly results, with expected business growth and higher consumer spending yet to materialize. Asked what impact Wells Fargo& Co is seeing from the new tax law, the banks finance chief, John Shrewsberry, said not much yet.

Published on 13 April 2018 | 6:23 pm


UPDATE 2-Wells Fargo CFO says government, not banks, should set gun policy

NEW YORK, April 13- Wells Fargo& Co believes the U.S. government, rather than banks, should set rules to promote gun safety, its finance chief said on Friday. The No. 3 U.S. lender has been talking to customers who legally manufacture firearms, but is "not currently setting policy in our extension of credit," Chief Financial Officer John Shrewsberry said during a call with...

Published on 13 April 2018 | 5:56 pm


Texas gains 3 rigs as US rig count rises to 1,008

Among major oil- and gas-producing states, Texas added three rigs, Oklahoma gained two while Colorado, Louisiana and Ohio each added one. Kansas, New Mexico and West Virginia each lost one rig. Alaska, Arkansas, California, North Dakota, Pennsylvania, Utah and Wyoming were unchanged.

Published on 13 April 2018 | 5:43 pm


US STOCKS-Wall St dips as JPMorgan leads bank stocks lower

*Russia lawmakers draft list of US imports it could ban. *Boeing drops on Russia plan, issues with plane engines. April 13- Banks led a drop in U.S. stocks on Friday, as results from big lenders including JPMorgan failed to enthuse investors keeping a wary eye on Russia's plan to consider banning some U.S. imports.

Published on 13 April 2018 | 5:22 pm


WELLS FARGO "NOT CURRENTLY SETTING POLICY IN OUR EXTENSION OF CREDIT" WITH REGARD TO GUNMAKERS -CFO

WELLS FARGO "NOT CURRENTLY SETTING POLICY IN OUR EXTENSION OF CREDIT" WITH REGARD TO GUNMAKERS- CFO.

Published on 13 April 2018 | 4:33 pm


WELLS FARGO WANTS CONGRESS TO CREATE LEGISLATIVE SOLUTION FOR DEALING WITH GUNMAKERS -CFO JOHN SHREWSBERRY

WELLS FARGO WANTS CONGRESS TO CREATE LEGISLATIVE SOLUTION FOR DEALING WITH GUNMAKERS- CFO JOHN SHREWSBERRY.

Published on 13 April 2018 | 4:33 pm


US STOCKS-Wall St drops as JPMorgan leads bank stocks lower

*Russia lawmakers draft list of US imports it could ban. *Boeing drops on Russia plan, issues with plane engines. April 13- Banks led a slide in U.S. stocks on Friday, as results from big lenders including JPMorgan failed to enthuse investors keeping a wary eye on Russia's plan to consider banning some U.S. imports.

Published on 13 April 2018 | 4:14 pm


UPDATE 3-Wells Fargo faces $1 billion fine from loan abuses

April 13- Two U.S. regulators have proposed Wells Fargo& Co pay $1 billion in penalties to resolve probes into auto insurance and mortgage lending abuses at the third largest U.S. bank, overshadowing its first quarter results. Analysts said that while the $1 billion penalty would not make a significant dent to its balance sheet, it may take the bank some time to...

Published on 13 April 2018 | 3:24 pm


WELLS FARGO CEO HE CANNOT 'DECLARE VICTORY' YET AND SAY THEY HAVE UNCOVERED ALL SALES SCANDAL ISSUES AT BANK

WELLS FARGO CEO HE CANNOT' DECLARE VICTORY' YET AND SAY THEY HAVE UNCOVERED ALL SALES SCANDAL ISSUES AT BANK.

Published on 13 April 2018 | 3:17 pm


WELLS FARGO CEO SAYS FEDERAL RESERVE'S ASSET CAP IS NOT HURTING BANK'S ABILITY TO GROW LOANS

WELLS FARGO CEO SAYS FEDERAL RESERVE'S ASSET CAP IS NOT HURTING BANK'S ABILITY TO GROW LOANS.

Published on 13 April 2018 | 2:35 pm


WELLS FARGO CFO SAYS FEDERAL RESERVE'S CONSENT ORDER CAP WILL PUSH BANK'S EFFICIENCY RATIO ABOVE 59 PERCENT FOR 2018

WELLS FARGO CFO SAYS FEDERAL RESERVE'S CONSENT ORDER CAP WILL PUSH BANK'S EFFICIENCY RATIO ABOVE 59 PERCENT FOR 2018.

Published on 13 April 2018 | 2:30 pm


WELLS FARGO SAW $386 MILLION RISE IN OPERATING LOSSES STEMMING FROM GREATER LITIGATION ACCRUALS -CFO

WELLS FARGO SAW $386 MILLION RISE IN OPERATING LOSSES STEMMING FROM GREATER LITIGATION ACCRUALS- CFO.

Published on 13 April 2018 | 2:29 pm


Correction: SmallBiz-Small Talk-Internet Sales Tax story

NEW YORK— In a story April 11 about internet sales tax, The Associated Press reported erroneously that the online retailer Rocker Rags gets a small percentage of its sales from out of state. Retailers hope for certainty as Supreme Court hears tax case. NEW YORK— Retailers are hoping for a resolution this year from the Supreme Court, which hears arguments Tuesday in...

Published on 13 April 2018 | 2:25 pm


WELLS FARGO CHIEF FINANCIAL OFFICER JOHN SHREWSBERRY SAYS CARD FEES FELL BY $43 MILLION DUE TO NEW ACCOUNTING METHODS

WELLS FARGO CHIEF FINANCIAL OFFICER JOHN SHREWSBERRY SAYS CARD FEES FELL BY $43 MILLION DUE TO NEW ACCOUNTING METHODS.

Published on 13 April 2018 | 2:17 pm








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