Ben Eisen
Wall Street Journal
New York, NY, United States
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Past articles by Ben:
Mortgage Rates Hit Fresh Three-Year High
Home buyers and owners are facing a rapid increase that threatens to cool down the red-hot housing market. → Read More
S&P 500 Extends Rally, Up Nearly 5% for the Week
U.S. stock indexes rallied for a third straight day, putting the S&P 500 on pace for its biggest weekly gain since late 2020. Oil soared as the market’s focus returned to the Ukraine war. → Read More
Wells Fargo CEO Charles Scharf Gets 20% Pay Raise
His compensation for 2021 totaled $24.5 million. The bank’s stock price soared 59% last year. → Read More
Wall Street Executive Wally Stern Was a Player in Foreign Affairs—And Always Traveled Coach
An early proponent of investing in international companies, Walter Stern spent seven decades as a Wall Street executive and had a long affiliation with the foreign policy think tank the Hudson Institute. → Read More
Wells Fargo Executive Tasked With Rehabbing Bank’s Image to Depart
Barri Rafferty spent less than two years as the lender’s head of communications and brand management. → Read More
Car Dealerships Don’t Want Your Cash—They Want to Give You a Loan
Buyers say dealerships are pushing them to borrow because they make more money that way. The hot car market is giving them the opportunity. → Read More
Warren, Porter Criticize Wall Street Arbitration After Judge Says Process Was Manipulated
The two lawmakers wrote to the Financial Industry Regulatory Authority’s top executive after a Georgia judge ruled in a recent case that a lawyer for Wells Fargo gamed the system for choosing arbitrators. → Read More
BofA Lifts CEO Brian Moynihan’s Pay 31% for 2021 to $32 Million
The compensation increase for Brian Moynihan follows a year of record profits and a jump in the stock price. → Read More
Wells Fargo Gamed System in Investor Arbitration, Judge Says
A Georgia judge said the bank and its lawyer secretly manipulated a list of potential arbitrators. → Read More
How the Fed’s Policy Shift Is Rippling Through the Housing Market
The central bank had been the biggest buyer of mortgage bonds, but now it is stepping back and borrowing costs are rising. → Read More
Where Are Banks Finding Borrowers? On the Car Lot
Surging demand for auto loans is boosting banks during an otherwise lackluster time for their lending businesses. → Read More
Omicron Sends Bank Stocks Seesawing
Fears about the economic impact of the new Covid-19 variant have hit bank stocks hard, but they are still on track for their best year in more than two decades. → Read More
PayPal Shares Fall on Tepid Growth Outlook
The payment company expects revenue for the final three months of the year to be lower than initially expected, executives said. → Read More
Banks’ Debt Sales Are Driving the Corporate Bond Market
The six largest U.S. lenders have issued some $314 billion of bonds so far this year, already the most for any year since 2008. → Read More
Rising Mortgage Rates Shift Lenders’ Focus to Home Buyers
Mortgage lenders are refocusing on home buyers to drum up business during a slowdown in refinancing. → Read More
Bank of America Quarterly Profit Rises 58%
The second-largest U.S. bank earned $7.69 billion in the third quarter, as it benefited from a rebound in net interest income. The quarterly result topped analysts’ expectations. → Read More
The College Dropout Who Took Merrill Lynch Global
David Komansky, who as CEO of Merrill Lynch turned it into a global business just before its downfall, died Monday. → Read More
Rust Belt City’s Pitch for a Hot Housing Market: Free Homes
The mayor of Monessen, Pa., is trying to reverse the city’s long decline by giving away vacant homes to people who are willing to fix them up. → Read More
Bank of America Overhauls Top Management Ranks
The bank named a new chief financial officer and added three women to its senior ranks in its biggest leadership reshuffling in more than a decade. → Read More
Wells Fargo Fined $250 Million for Problems in Its Mortgage Business
The Office of the Comptroller of the Currency, one of the bank’s top regulators, said the lender had failed to fix problems first identified in 2018. → Read More