Citigroup Inc (C.N) displayed some of the financial bruises required for its current restructuring as it reported a 26% drop in fourth-quarter profit on Friday.
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Wells Fargo & Co on Friday beat analysts’ estimates for fourth-quarter profit as a rebound in U.S. economic growth encouraged more customers to take loans and the bank kept a tight lid on costs.
While big United States bank bosses were optimistic on the economic outlook on Friday, pointing to an uptick in some lending businesses and a jump in consumer spending, investors were skeptical on the growth outlook for the sector.
Wells Fargo & Co and Bank of America (BAC.N) will no longer charge customers for bouncing checks and are adopting new policies to limit overdraft-related fees, the latest lenders to overhaul such charges amid growing regulatory scrutiny.
Analysts expect big United States banks to show an uptick in fourth quarter core revenues thanks to new lending and firming Treasury yields even while headline earnings will be mixed on differences in how each institution accounted for pandemic loan losses.
An explosive planted outside a bank building went off before someone wearing a disguise tried to get into the ATM, South Carolina video shows.
WASHINGTON – Michael Drummond, 35, of Hyattsville, Maryland, pleaded guilty today to a federal charge of conspiracy to commit bank fraud for his role in a scheme in which Wells Fargo Bank customers lost $124,000 from their accounts. According to the government’s evidence, the participants in the scheme attempted to steal another $80,000 from the bank’s customers, but the bank detected that fraud and stopped the loss.
Bank of America, N.A. announced today that it will redeem all $500,000,000 principal amount outstanding of its 3.335% Fixed/Floating Rate Senior Bank Notes, due January 2023 (CUSIP No. 06050TMJ8) (the “Notes”), on January 25, 2022, at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to but excluding the redemption date of January 25, 2022.
France’s Credit Agricole (CAGR.PA) has offered to buy troubled lender Banca Carige (CRGI.MI) for a euro, Italian daily Il Messaggero said on Thursday, sending shares in the Italian lender up more than 3%.
Citigroup analysts on Wednesday raised their S&P 500 (.SPX) price target for the end of 2022, estimating it to breach the 5,000 level for the first time, as the brokerage expects strong corporate earnings to continue this year.