Bank Watch roundup: Wall Street securities machine starting back up

04/07/2014 7:00 AM

04/17/2014 7:39 AM

WALL STREET SECURITIES MACHINE STARTING BACK UP: Financial engineers are starting to come up with more exotic breeds of collateralized debt obligations, primarily tied to real estate, Bloomberg reports.

BOFA SETTLES FORCED-INSURANCE LAWSUIT: The Charlotte bank settled a lawsuit claiming it overcharged homeowners for insurance when their policies lapsed in a $228 million accord, Bloomberg reports.

WHY INCREASING FORECLOSURES AT WELLS FARGO ARE A GOOD THING: It's a signal that the bank is growing while peers like Bank of America and Citigroup are shrinking, the Motley Fool says.

DIVIDEND STOCKS ARE BACK IN STYLE: Last year, growth stocks were posting huge gains while the bread-and-butter dividend payers lagged behind. This year, the opposite appears to be the case, even as markets continue to flirt with record highs, the Wall Street Journal reports.

RETAIL BROKERAGES HIT BY INVESTORS: The likes of Charles Schwab and E*Trade took a hit in their stock price as worries percolated that regulators could put a halt to their business with high-frequency traders, the subject of Michael Lewis's new book, the Wall Street Journal reports.

From the Observer

WILL CLODFELTER BE THE NEW MAYOR?: With the city council just hours away from deciding on a new mayor, state Sen. Dan Clodfelter appears to have enough votes to be named Charlotte's new leader.

CHANTICLEER SUIT IN JUDGE'S HANDS: An $850,000 shareholder suit claiming Chanticleer Holdings misled them on the financials of the company's South African Hooters' operations now has a settlement in a judge's hands.

CHARLOTTE PERMIT STREAMLINING PLAN ON TRACK DESPITE CANNON ARREST: The plan was a key part of Patrick Cannon's agenda, and then of course were all the allegations that Cannon wanted to smooth out the permitting process for his connections. City Manager Ron Carlee pledged this past week that the streamlining will go on as scheduled.

THOMAS DIXON GETS A NEW GIG: The former Harris Teeter CEO will now help to turn around the struggling convenience store chain The Pantry as its board chairman.

Editor's Choice Videos

Join the Discussion

Charlotte Observer is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service