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JPMorgan Chase, Wells Fargo and TD Auto Finance all see opportunities in providing financing to dealers for inventory, the purchase of competitors and the addition of infrastructure for electric vehicle sales. Two other banks recently said they're exiting the business, which could provide a further opening.
August 15 -
Rohit Chopra, director of the Consumer Financial Protection Bureau, said the bank is "not making rapid progress" and hinted at the possibility of additional restrictions. But analysts saw positives for Wells in the $3.7 billion consent order.
December 20 -
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.
December 8 -
Servicing gains failed to offset steep origination declines at the bank, which continues to battle allegations of racial discrimination.
April 14
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After passing the Federal Reserve's stress tests with high marks, large banks announced dividend increases. In some cases, they also said the Fed had conceded that certain prior calculations needed to be revised.
July 2 -
Although the collateral is described as non-prime, Moody's points to several strong credit characteristics, including an average non-zero FICO score of 697 and an eScore of 768.
June 26 -
They are not municipal bonds, but they follow municipal bond repayment practices.
June 24 -
The B, C and D tranches maintain minimum subordination percentages, 12.5%, 8.1% and 4.3%, respectively, allowing them to provide credit support for the class A notes.
June 20 -
In 2021, banks pledged to wind down their support for oil and gas. Last year they made a $162 billion U-turn, according to a new report from a coalition of advocacy groups.
June 17