Ben Eisen
Wall Street Journal
New York, NY, United States
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Recent articles by Ben:
In Coronavirus Recession, the Out-of-Work Turn to GoFundMe
The recession is forcing people to rely on the kindness of friends, neighbors and strangers to get by. → Read More
Bank Stocks Fall as Stimulus Hopes Fade
Shares of some regional banks fell as much as 11% even though the broader market rose. → Read More
Dearth of Credit Starves Detroit’s Housing Market
Lenders shun the city’s low-priced properties, making it hard for Black residents to access homeownership. The city of nearly 700,000 saw barely 1,700 mortgages made last year. → Read More
Wells Fargo Fires Employees Who Applied for SBA Pandemic Loans
Wells Fargo & Co. fired more than 100 employees for allegedly defrauding a federal pandemic-relief program. → Read More
Wells Fargo Earnings Drop 56% Despite Pandemic Hit Subsiding
The lender said third-quarter profit dropped from a year earlier to $2.04 billion. Still, the results were an improvement from the second quarter, when the bank set aside billions for bad loans and reported a loss. → Read More
Bank of America Profit Falls 16%
The lender’s profit dropped in the third quarter, though the bank indicated that it is well prepared to weather the coronavirus recession. → Read More
What to Expect From Bank Earnings: A Bad Quarter, but Not as Bad as Before
Seven months into the coronavirus pandemic, banks are getting used to a sour economy. → Read More
Wells Fargo CEO Finds Himself on Defense After a Tough First Year
A long list of challenges confronted Wells Fargo Chief Executive Charles Scharf when he was brought in to restore the bank’s tarnished reputation. In the year since, his problems have only multiplied. → Read More
How’s the Coronavirus Economy? Great or Awful, Depending on Whom You Ask
Some people are doing great, some are staying afloat for now, and others are going hungry or worried about eviction. → Read More
Wells Fargo Will Close Most of Its Corporate-History Museums
The bank will shut down 11 of its 12 museums about its corporate history, keeping the museum in its headquarters city of San Francisco. → Read More
Looking to Refinance? Those Rock-Bottom Mortgage Rates Aren’t for You
Homeowners across the country are rushing to refinance at record-low interest rates. Many are finding that lenders have reserved their best rates for buyers. → Read More
Warren Buffett’s Berkshire Hathaway Unloads Bank Stocks
Warren Buffett’s investment and insurance giant unloaded billions of dollars of bank stocks as the U.S. economy reeled during the coronavirus lockdown, a regulatory filing showed. → Read More
Wells Fargo Tightens Purse Strings to Ride Out Coronavirus Pandemic
The fourth-largest U.S. bank is slashing costs, cutting staff and tightening up on lending to ride out the coronavirus recession. Its rivals might not be too far behind. → Read More
Wells Fargo Swings to First Loss in More Than a Decade
The San Francisco-based bank lost $2.38 billion in the second quarter → Read More
The Mortgage Market Never Got Fixed After 2008. Now It’s Breaking Again.
The coronavirus pandemic has delivered a gut punch to the economy, and the mortgage market is particularly exposed. → Read More
A Dickensian Quarter for American Companies
For most of American business, the first quarter was the worst of times. But if not for the pandemic, perhaps it could have been the best of times. That is one way executives are explaining away a downright Dickensian stretch. → Read More
Bank of America Profit Falls 45% as It Prepares for Loan Defaults
The bank, the second largest in the U.S., said profit fell 45% in the first quarter and it set aside billions of dollars to cover potentially bad loans during the coronavirus crisis. → Read More
Wells Fargo Curtails Jumbo Loans Amid Market Turmoil
Wells Fargo & Co. substantially curtailed its program for making large loans this week, one of the most pronounced signs yet of how the recent market turmoil is cutting off access to some types of mortgages. → Read More
U.S. Bank Stocks Hammered as Coronavirus Spreads
Shares of global banks fell into correction territory this week, reflecting fears that financial institutions could take a hit if coronavirus continues to spread. → Read More
Wells Fargo Reaches Settlement With Government Over Fake-Account Scandal
Wells Fargo will pay $3 billion to settle investigations by the Justice Department and the Securities and Exchange Commission over its long-running fake-account problems. → Read More