Bank Watch roundup: Wells Fargo shares hit all-time high
06/10/2014 7:00 AM
06/09/2014 10:36 PM
WELLS FARGO SHARES AGAIN HIT ALL-TIME HIGH: The bank's shares cracked the mark in early trading, MarketWatch reports, and then closed at $52.51. Wells Fargo stock is up more than 15 percent so far this year as the bank's streak of consecutive record earnings has continued unabated.
WELLS FINDS 40 PERCENT OF MILLENIALS ARE OVERWHELMED WITH DEBT: And half of those are spending more than half of their income to pay down loans, CNBC reports. Credit cards are actually the biggest problem, with mortgages and student loans coming after that.
NEWBRIDGE PLANS EXPANSION ACROSS STATE LINES: The Greensboro bank has recently gotten into the Triangle and Wilmington, and now says it's planning expansions into metro areas in South Carolina and Virginia, the Winston-Salem Journal reports.
WELLS IS TOPS IN NORTH CAROLINA SBA LENDING: The bank has upped its Small Business Administration loans by 21 percent in the state over the last nine months. Wells has three SBA originators in Charlotte.
LAWYERS DRIVING MORTGAGE SCAMS: In a new wave of mortgage scheme befitting the times, unscrupulous law groups are convincing homeowners in danger of losing their homes to "hire" them to file lawsuits against banks en masse, the Huffington Post reports. But the suits end up being low-quality, formulaic jobs that get quickly tossed out of court.
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