Banking

June 9, 2014

Bank Watch roundup: Big BofA settlement could help stock

Usually when a company is expected to settle a multi-billion case with the federal government, investors go running. But since reports that Bank of America is closing in on a $12 billion (more or less) deal over mortgages, the Charlotte bank's stock price is actually up a little.

BIG BOFA SETTLEMENT COULD HELP THE STOCK: Usually when a company is expected to settle a multi-billion case with the federal government, investors go running. But since reports that Bank of America is closing in on a $12 billion (more or less) deal over mortgages, the Charlotte bank's stock price is actually up a little. That's because investors are hoping that getting what could be the last big legal liability behind the bank could clear the way for better earnings, Barron's says.

LENDINGTREE EXPANDS INTO STUDENT LOANS: The Charlotte company is best known for helping people pick out mortgages, but now it'll let students compare education loans.

WELLS FARGO DONATES LAND TO ALASKAN NATIVE GROUP: The bank once considered developing the parcel on long-time Native land, but instead gave the 143-acre piece of land to the Native corporation Eklutna Inc., the Anchorage Daily News reports.

CREDIT SUISSE COULD SPLIT FIXED INCOME BUSINESS: The Swiss bank could spin it off into a separate company, the Wall Street Journal reports. It's a response to new regulations and scrutiny in trading businesses.

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