Bank Watch roundup: BofA settles lawsuit with Allstate
04/09/2014 7:00 AM
04/17/2014 7:39 AM
BANK OF AMERICA SETTLES LAWSUIT WITH ALLSTATE: Terms of the deal aren't known, but BofA put an end to a lawsuit the insurer Allstate Corp. brought against Countrywide in 2010 over $700 million in mortgage securities, Bloomberg reports.
TOP DEMOCRATS BACKED CERTUSBANK CHARTER: Though CertusBank is now in the middle of a controversy over shareholder allegations of lavish spending, a few years ago the banks founders had the written support of Democratic figures like Rep. Barney Frank and Rep. Maxine Waters, American Banker reports.
INSIDE WELLS FARGO'S SOCIAL MEDIA COMMAND CENTER: Teams in Charlotte and San Francisco make up a command center that monitors up to 4,000 mentions on social media per day, and post as much as 16,000 times each quarter, Ad Age says.
PERCENTAGE-WISE, BANK OF AMERICA'S DIVIDEND INCREASE IS GREAT: The Charlotte bank finally boosted its dividend from once cent per share to five. Many investors were still underwhelmed. But at least on a percentage basis, Bank of America's dividend increase is one of the biggest of the year, a new report says.
ESURANCE POACHES WELLS FARGO MARKETING EXEC: The Allstate subsidiary brought on Alan Gellman from Wells Fargo to be Esurance's chief marketing officer, Bloomberg reports.
REGULATORS APPROVE NEW BANK CAPITAL RULES: The nation's eight largest banks will now be required to maintain a 5 percent leverage ratio, up from 3 percent, a move that will require several of them to build up more capital. Bank of America and Wells Fargo are subject to the new rules.
GOLDMAN MIGHT SHUT DOWN ITS DARK POOL: Amid increased criticism for the private trading venues, Goldman Sachs might shut down its large dark pool, the Wall Street Journal reports.
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