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Home buyers and owners are facing a rapid increase that threatens to cool down the red-hot housing market. → Read More
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
His compensation for 2021 totaled $24.5 million. The bank’s stock price soared 59% last year. → Read More
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
Barri Rafferty spent less than two years as the lender’s head of communications and brand management. → Read More
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
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
The compensation increase for Brian Moynihan follows a year of record profits and a jump in the stock price. → Read More
A Georgia judge said the bank and its lawyer secretly manipulated a list of potential arbitrators. → Read More
The central bank had been the biggest buyer of mortgage bonds, but now it is stepping back and borrowing costs are rising. → Read More
Surging demand for auto loans is boosting banks during an otherwise lackluster time for their lending businesses. → Read More
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
The payment company expects revenue for the final three months of the year to be lower than initially expected, executives said. → Read More
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
Mortgage lenders are refocusing on home buyers to drum up business during a slowdown in refinancing. → Read More
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
David Komansky, who as CEO of Merrill Lynch turned it into a global business just before its downfall, died Monday. → Read More
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
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
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