North Carolina offered millions of dollars in incentives to retain Charlotte, N.C., mortgage company RoundPoint Mortgage Servicing Corp., which ultimately picked Fort Mill, S.C., as its new headquarters site.
Bank of America said its profit rose 32 percent in the third quarter of 2018 from net income in the same period a year ago. That’s a record. CEO Brian Moynihan attributed the results to a strong U.S. economy.
Wells Fargo leader Mary Mack says much has been fixed in her community banking segment following a 2016 sales scandal over unauthorized accounts but says she’s not done making changes to turn the bank around.
Movement Mortgage is laying off about 180 employees nationwide, including 75 at its Indian Land, S.C., headquarters, according to a press release from the firm founded by former Carolina Panther Casey Crawford.
Wells Fargo CEO Tim Sloan and Chairwoman Betsy Duke should be made to testify before Congress, Sen. Sherrod Brown and other Democrats on the Senate Committee on Banking, Housing, and Urban Affairs said.
Bank of America and Wells Fargo are under fire for ties to private prisons as President Donald Trump’s administration cracks down on ICE and illegal immigration, a move expected to benefit prison operators CoreCivic and GEO Group.
Wells Fargo will reduce its employees by 5 to 10 percent over the next three years, with some people losing their jobs in layoffs. CEO Tim Sloan said it’s part of the company’s goal to be more customer focused.
Wells Fargo Chairwoman is denying a report the bank’s board considered replacing CEO Tim Sloan with former Goldman Sachs President and Trump economic adviser Gary Cohn following a story in the New York Post.
Bank of America was fined $30 million by the Commodity Futures Trading Commission to settle charges it attempted to manipulate the U.S. Dollar International Swaps and Derivatives Association Fix, the CFTC said.
Wells Fargo Chief Financial Officer John Shrewsberry criticized the media on Friday, insinuating that journalists and news outlets are running negative headlines on the company’s scandals because they are an “ad seller.”
Wells Fargo will close Charlotte branches early Friday for Hurricane Florence while those in western North Carolina will close at 4 p.m. and those in eastern North Carolina and the Triangle won’t open Friday.
Bank of America and Wells Fargo have closed branches in eastern North Carolina ahead of Hurricane Florence. Wells Fargo said branches remain open in Charlotte and the Triangle, Triad and western North Carolina.
Wells Fargo says it was complying with federal law when it terminated the official campaign account of a candidate for Florida agriculture commissioner, Nicole “Nikki” Fried, who lobbies for medical marijuana.
The Securities and Exchange Commission said Merrill Lynch will pay $8.9 million to settle claims it failed to disclose a conflict of interest to clients of the Charlotte-based Bank of America subsidiary.
Louisiana’s bond commission, led by Treasurer John Schroder, said it has voted to prohibit Bank of America and Citigroup from participating in an upcoming bond sale because of their ‘restrictive’ gun policies.
Hundreds of Wells Fargo customers are wondering whether they are among about 625 homeowners affected by a software error the bank said contributed to their being denied or not offered mortgage modifications.
After a September 2016 sales scandal, federal authorities are reviewing San Francisco based Wells Fargo after it admitted to an error that caused hundreds in foreclosure to be incorrectly denied loan modifications.