Bank Watch roundup: Wells won’t go down without a fight
05/14/2014 7:00 AM
05/14/2014 9:56 AM
WELLS FARGO WON'T GO DOWN WITHOUT A FIGHT: Even though nearly all of its peers have paid up on fraud accusations by the Federal Housing Administration, Wells Fargo is ready to fight back in court by calling the claims a “brazen attempt” to impose “massive fraud liability," Bloomberg reports. Even though the total amount of money at stake isn't that much to the country's most profitable bank, “You go back to their DNA. They fight things. They always go down swinging,” analyst Paul Miller tells the news agency.
FALFURRIAS BUYS ONLINE TRAINING COMPANY: The Charlotte private equity firm co-founded by Hugh McColl and Marc Oken has taken a controlling stake in a company that provides online courses like driving remedial programs or OSHA training.
BANK OF THE OZARKS OPENING CORNELIUS BRANCH: Monday will mark the opening of the bank's second full-service branch in the Charlotte area.
MEL WATT STAKES OUT NEW COURSE FOR FEDERAL HOUSING FINANCE AGENCY: In his first major policy speech as the agency's director, the former Charlotte congressman said he would direct Fannie Mae and Freddie Mac to focus on expanding access to credit instead of winding down.
ASHEVILLE SAVINGS BANK EXPANDS INTO CHARLOTTE: The bank has hired a commercial banker to lead its entry into the Charlotte market. Scott Gadd comes from Bank of the Ozarks, per his LinkedIn page.
DELOITTE ADVISES ON DEAL: The investment bankers formerly known as McColl Partners (now Deloitte Corporate Finance) advised automotive owner's manual company Tweddle Group Inc. as it got an equity investment from The Gores Group LLC.
BNC BUILDS OUT MANAGEMENT: Bank of North Carolina is also in New Orleans at the Gulf South Bank Conference, and executives there are telling the story of how the bank has tripled in size since 2007. They also enumerate how the regional bank has built out its management team, adding positions like a chief information and operations officer, director of internal audit and internal performance manager. They also call themselves the "acquirer of choice" in the state.
MILLENIALS HOLDING BACK HOUSING MARKET: There aren't nearly as many first-time homebuyers these days because young adults don't want to buy houses, MarketWatch says. It's not just all the student loan debt.
U.S. WANTS $3.5 BILLION FROM BNP PARIBAS: Prosecutors also want a guilty plea over allegations the bank dealt with countries like Sudan and Iran, Bloomberg reports.
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