An administrative law judge has recommended that a trio of onetime Wells executives be ordered to pay a combined $18.5 million in connection with the bank's fake-accounts scandal.

The products are currently limited to a single distribution channel, but the company hasn't ruled out offering them through third-party originators in the future.

The deal will close for $10 million in cash, plus the right to purchase nearly 33.9 million shares of common stock.

More recent OMFIT securitizations have experienced increasing 30+ delinquencies as well as annualized net loss rates.

The notes also face a credit challenge because there is no mandatory repurchase of modified loans.

Deterioration in credit quality should put strain on collateral originated in late 2021 and early 2022, affecting performance, Barclays Credit Research said.

Proceeds from the sale of the bonds will be used to replenish and fund Entergy New Orleans' storm recovery reserves that had been depleted after Hurricane's Zeta and Ida.

The deal also differs from other bank-sponsored, CLN transactions in that the rating agency will not limit the ratings to SBNA's long-term counterparty risk rating.

Roughly 40,000 residents of Moore County have been left without power since Saturday, when gunfire damaged two substations. Financial institutions are urging residents to use online banking and call centers if they do not have access to a branch.

Home prices dropped again on a monthly basis in October, exacerbating the loss in home equity among recent buyers, but the size of the falloff was the smallest since June.

In an appeals court filing, the Consumer Financial Protection Bureau wrote that a federal judge "ignored regulatory text, history and context" when she ruled against a PNC customer. The consumer argues that the bank shouldn't have pulled funds from his checking account after he was tardy in making payments on his home equity line of credit.

All of the loans must be fixed rate, and at least 90% of the loan balances must be to borrowers with a cosigner.