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The Latest Breaking News from Wells Fargo

Office real estate values are moving down so fast that banking giants like Wells Fargo are already bracing for losses

Wells Fargo CEO Charlie Scharf: "we are reserving for the weakness that we expect to play out in that market over time."

Fortune

Stock Market Today: Dow Outperforms After Blowout UnitedHealth Earnings

The major market indexes failed to make big moves despite a solid start to second-quarter earnings season.

Kiplinger

Jamie Dimon leads big banks’ earnings triumph: The economy remains ‘resilient,' but a ‘soft landing’ isn’t guaranteed

Despite stubborn inflation and rising interest rates that pose "salient risks," Jamie Dimon says he's hoping for the best.

Fortune

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Stocks Mixed After Positive Q2 Bank Earnings

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.02%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.42%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.11%. Stocks today are mixed this afternoon. Earlier this morning...

Barchart

Earnings Season: The Thrill of Victory, the Agony of Defeat!

Earnings season officially kicks off today! Bank stocks are on deck to report Q2 numbers and markets are nervous. With all the financial turmoil over the past few months, a lot of questions are about to be answered pertaining to the health and stability of our banking system.

Barchart

Two Undervalued Warren Buffett Stocks to Buy in July 2023

Warren Buffett is among the best value investors of all time and looks at a “margin of safety” when buying companies. Here are the two Buffett stocks that look relatively undervalued in July 2023.

Barchart

Bank of America hit with $250M in fines, customer refunds for ‘double-dipping’ fees, fake accounts

It is one of the highest financial penalties in years against Bank of America, which has largely spent the last 15 years trying to clean up its reputation.

Chicago Sun-Times

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Stock Market Today: Markets Rise Ahead of CPI; Activision, Amazon Stocks Outperform

A federal judge said Microsoft can proceed with its purchase of Activision Blizzard, while Amazon.com was added to Wells Fargo's "signature picks" list.

Kiplinger

I work at a Wells Fargo call center. Here’s why people like me can save America’s banking system

"By respecting our voice on the job, Wells Fargo can work with us to become the best bank for workers, customers, and yes, shareholders."

Fortune

Here are the 5 things to know about the state of the economy this Independence Day

As the U.S. celebrates its birthday with hot dogs and fireworks, the economy continues to grow, the job market is strong, but inflation and rising interest rates are keeping recession fears alive.

WEKU

A $1.8 trillion student debt burden set to again threaten US consumers

The U.S. Supreme Court’s ruling throwing out President Joe Biden’s student loan relief plan will likely further dent consumer spending at a time when the main engine of the economy is already stalling.

Tribune News Service

Medical credit cards may lead patients to overpay for their health care, Democrats warn

A group of Democratic senators is asking the Consumer Financial Protection Bureau to take action against medical credit cards such as CareCredit, saying the cards’ deferred interest features are confusing and often lead to consumers paying high interest rates after a promotional period has ended

The Independent UK

Has Pinterest Become a FOMO Stock to Buy for the Second Half?

Midday in Wednesday trading, Pinterest stock is up more than 5%. Up nearly 14% in the past month, there’s an argument to be made that PINS has become a FOMO stock.

Barchart

Wells Fargo Named Preferred Credit Card for Shopping on NBCU Shows Including ‘Project Runway’

Bank will also sponsor NBCU content

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Axios

Wells Fargo, rights group launch Latino homeownership plan

Latinos' ownership rate is about 25 percentage points lower than non-Hispanic white Americans.

The Guardian - US

Amazon and Google fund anti-abortion lawmakers through complex shell game

Blue-chip companies gave to Republican group funneling money to lawmakers who overturned abortion-ban veto in North Carolina

Fortune

How the work-from-home trend could trigger the next banking blowup

Thousands of square feet of empty office space are creating a crisis in commercial real estate—and a potential meltdown for small and mid-sized banks.

Kiplinger

Kiplinger Readers' Choice Awards: Full-Service Brokers

These are the winners of the Kiplinger Readers’ Choice Awards' best full-service brokers category. Our awards celebrate the very best products and services in personal finance.

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Kiplinger

Kiplinger Readers' Choice Awards: Wealth Managers

These are the winners of the Kiplinger Readers’ Choice Awards' best Wealth Managers category. Our awards celebrate the very best products and services in personal finance.

Los Angeles Times

Anita Chabria: A Black guard shot a Black man for shoplifting. Blame San Francisco's legacy of racism

Last month, a Black man raised in chaos and scarcity shot and killed a Black man living in chaos and scarcity on the sidewalk in front of a downtown Walgreens.

The Independent UK

Wells Fargo agrees to pay $1 billion to settle shareholders' class-action lawsuit

Wells Fargo has agreed to a pay $1 billion to settle a lawsuit filed by its shareholders

Fortune

Wells Fargo agrees to pay $1 billion to settle class action suit

Complaint revolved around the bank’s cleanup of its 2016 fake accounts scandal.

USA Today Sports Media Group

5 sleeper picks for the 2023 PGA Championship at Oak Hill, including Tommy Fleetwood and Rickie Fowler at 60/1

Tommy Fleetwood tied for fifth at Southern Hills in 2022.

Bangkok Post

Wells Fargo to pay $1bn to settle shareholder suit

NEW YORK: The US bank Wells Fargo has agreed to pay $1 billion to settle a class action lawsuit by shareholders who accused it of not having changed its management and practices quickly enough after a series of scandals.

WEKU

As some families learn the hard way, dementia can take a toll on financial health

Reckless behavior with money can be a warning sign of cognitive decline — and the condition can put people at risk of financial ruin. There are few institutional safeguards in place.

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