Jon Corzine’s plotting his Wall Street comeback, and he’s planning on using the unpredictable nature of the new administration to help him (and his new hedge fund) get there....more
5/19/2017
/ Bank Accounts ,
Class Action ,
Cross-Selling ,
Financial Institutions ,
Financial Markets ,
Free Trade Agreements ,
Hedge Funds ,
Insider Trading ,
Japan ,
Mercedes-Benz ,
NAFTA ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
SoftBank ,
Telecommunications ,
Tesla ,
Wells Fargo
With oil markets again in free fall, Saudi Arabia and Russia have agreed to cut production, and industry experts expect that the rest of OPEC may soon follow suit....more
5/16/2017
/ Amazon Marketplace ,
Automotive Industry ,
Brazil ,
CMBS ,
Cybersecurity ,
Discriminatory Lending Practices ,
Exploration and Production Assets ,
Financial Institutions ,
FinTech ,
Ford Motor ,
Global Workforce ,
Goldman Sachs ,
Hackers ,
Hiring & Firing ,
Oil & Gas ,
Publishers ,
Ransomware ,
Russia ,
Saudi Arabia ,
Securities and Exchange Commission (SEC) ,
Wells Fargo
Local-TV powerhouse Sinclair Broadcast Group isn’t all that well known outside of the Baltimore area, but it’s making a big play for the national stage as it nears a deal to buy Tribune Media—the former “Tribune empire’s...more
5/8/2017
/ Banking Sector ,
Charter Communications ,
Comcast ,
Cross-Selling ,
Derivative Suit ,
Dodd-Frank ,
EU ,
Euro ,
Financial Fraud ,
Financial Institutions ,
France ,
Individual Accountability ,
Misrepresentation ,
NRSRO ,
Omnicare ,
Presidential Elections ,
Proposed Legislation ,
Rating Agencies ,
Securities Fraud ,
Shareholder Litigation ,
Television Broadcast Stations ,
Volkswagen ,
Wells Fargo ,
Wireless Industry
Investors’ decreasing appetite for actively managed mutual funds appears to have helped drive the major shake-up at AllianceBernstein Holding, which said so long to CEO Peter Kraus and removed nine board members in favor of 6...more
5/2/2017
/ Administrative Appointments ,
Bank of America ,
Bank of America v Miami ,
Banking Sector ,
Barclays ,
Discriminatory Lending Practices ,
Fair Housing Act (FHA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Goldman Sachs ,
Hedge Funds ,
Investment ,
Mortgage Lenders ,
Mutual Funds ,
NCUA ,
OCC ,
Predatory Lending ,
RMBS ,
SCOTUS ,
Trump Administration ,
UBS ,
Wells Fargo
Wells Fargo’s Board Chair, Stephen Sanger, did survive his reelection vote the other day. Barely. But Breakingviews thinks he should think awfully hard about his future as a Director at the bank....more
4/27/2017
/ Banking Sector ,
Canada ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Earnings Reports ,
Family Offices ,
FCC ,
Federal Reserve ,
Fintech Charter ,
Free Trade Agreements ,
Internet ,
Internet Service Providers (ISPs) ,
JPMorgan Chase ,
Mexico ,
NAFTA ,
Net Neutrality ,
OCC ,
Procter & Gamble ,
Regulatory Oversight ,
Subprime Loans ,
Trump Administration ,
US Trade Policies ,
Wells Fargo
Mega luxury brand news yesterday, as LVMH announced a series of moves that, combined with $13.1 billion, helped it take over the 70-year-old French fashion house Christian Dior....more
4/26/2017
/ Bitcoin ,
Blockchain ,
Corporate Taxes ,
Dodd-Frank ,
Dubai ,
Financial Institutions ,
Financial Regulatory Reform ,
Google ,
Proposed Legislation ,
Regulatory Oversight ,
Student Loans ,
Tax Reform ,
Technology ,
Trump Administration ,
Virtual Currency ,
Wells Fargo
The new administration is working on a tax plan that would slash corporate tax rates to 15 percent and doing so with a hastiness that could jeopardize House Republicans’ ability to make the cuts permanent....more
4/25/2017
/ Alibaba ,
Banking Sector ,
Business Valuations ,
Consumer Lenders ,
Corporate Taxes ,
Cross-Selling ,
Data Collection ,
Financial Fraud ,
FSOC ,
Internet Retailers ,
Living Will ,
MetLife ,
SIFIs ,
Student Loans ,
Tax Reform ,
Trump Administration ,
Uber ,
Wells Fargo
The Times gives us an intriguing long read on Uber’s Travis Kalanick, the controversial CEO whose vision has helped propel the ride-hailing company even as his no-limits approach has led the company into months of crisis....more
4/24/2017
/ Bank Accounts ,
Class Action ,
Consumer Financial Protection Bureau (CFPB) ,
Cross-Selling ,
EU ,
Euro ,
Foreclosure ,
Foreign Currency ,
Fraud ,
Glass-Steagall Act ,
Goldman Sachs ,
Housing Market ,
Mortgage Servicers ,
Mortgages ,
Sharing Economy ,
Tobacco ,
Uber ,
Volkswagen ,
Wells Fargo
New FCC Chair Ajit Pai is wasting little time in reversing Obama-era regulatory efforts meant to restrict media firms and telecomm companies, and he’s got his sights set on net neutrality next....more
4/20/2017
/ Banking Sector ,
Business Valuations ,
Climate Change ,
Cross-Selling ,
Cybersecurity ,
Deregulation ,
Dodd-Frank ,
FCC ,
Goldman Sachs ,
Internet Service Providers (ISPs) ,
Morgan Stanley ,
Net Neutrality ,
OCC ,
Pharmaceutical Industry ,
Securities Fraud ,
Shadow Banking ,
Telecommunications ,
Theranos ,
Verizon ,
Wells Fargo
Wells Fargo’s board not only issued a massive report on its fake account scandal yesterday. It also announced that the bank would claw back an additional $75 million from former CEO John Stumpf and former head of community...more
4/11/2017
/ Activist Hedge Funds ,
Automotive Industry ,
Bank Accounts ,
Banking Sector ,
Barclays ,
Citibank ,
Code of Conduct ,
Consumer Financial Products ,
Corporate Culture ,
Cross-Selling ,
Department of Justice (DOJ) ,
Federal Reserve ,
Insider Trading ,
Janet Yellen ,
Regulatory Oversight ,
RMBS ,
Tesla ,
Toshiba ,
UK ,
Wells Fargo ,
Whistleblowers ,
Whole Foods
Navient Corp., facing CFPB allegations that it didn’t live up to its promises of helping its 12 million customers manage their loans, now has a two-faced problem after a recently filed motion to dismiss in which it argued...more
4/4/2017
/ AOL ,
Automotive Industry ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Suisse ,
Criminal Conspiracy ,
Electric Vehicles ,
Financial Institutions ,
Forfeiture ,
Initial Public Offering (IPO) ,
Navient ,
Tax Evasion ,
Technology Sector ,
Tesla ,
Voting Rights ,
Wells Fargo ,
Whistleblowers ,
White Collar Crimes ,
Yahoo!
Foreclosure stats are a far cry from their heights in the aftermath of the 2008 economic crisis. But the big news in the industry is the rise of party players that were barely a blip on the scene (if around at all) 10 years...more
3/31/2017
/ Automotive Loans ,
Bonds ,
Consumer Lenders ,
Cyber Crimes ,
Encryption ,
Financial Crisis ,
Financial Institutions ,
Foreclosure ,
Insider Trading ,
Interest Rates ,
Kmart ,
Lloyds of London ,
McDonalds ,
Ransomware ,
Retirement Plan ,
RMBS ,
Sears ,
Social Networks ,
Texting ,
Wall Street ,
Wells Fargo ,
Wendy's ,
WhatsApp
Greenlight Capital’s David Einhorn is pushing GM to split its common stock into two classes—one for dividends and the other for all additional earnings—in an effort to boost the carmaker’s market cap. GM’s not on board....more
3/29/2017
/ Automotive Industry ,
Automotive Loans ,
Bank Accounts ,
Banking Sector ,
Bonds ,
China ,
Class Action ,
Commercial Bankruptcy ,
Common Stock ,
Consumer Lenders ,
Discriminatory Lending Practices ,
General Motors ,
OCC ,
Preferred Shares ,
Robots ,
Technology Sector ,
Tesla ,
Toshiba ,
Wells Fargo
White Collar Watch dates itself considerably with its Perry Mason allusion, but its bigger point is an interesting one–good luck finding a true “gotcha” moment when dealing with what are “quintessentially offenses of the...more
3/21/2017
/ Banking Sector ,
Fraud ,
Initial Public Offering (IPO) ,
Offerings ,
Pharmaceutical Industry ,
Repurchases ,
SoftBank ,
Tax Evasion ,
Telecommunications ,
UBS ,
Valeant ,
Wells Fargo ,
White Collar Crimes ,
Wireless Technology
The struggle to attract and retain businesses and the jobs they provide has increasingly led to states and cities squaring off against others, with competing tax incentive packages the very real currency of the battle....more
3/17/2017
/ Anti-Competitive ,
Automotive Industry ,
Banking Sector ,
Cross-Selling ,
Initial Public Offering (IPO) ,
Job Creation ,
National Emissions Standards ,
Offerings ,
Regulatory Oversight ,
Snapchat ,
Tax Incentives ,
Volkswagen ,
Wells Fargo ,
White Collar Crimes
As anticipated (and hinted-at forcefully by its officials), the Fed raised the benchmark interest rate yesterday to a range nearing 1 percent, a move that signals the slow end to the body’s nine-year stimulus effort....more
3/16/2017
/ Administrative Appointments ,
Banking Sector ,
Caterpillar ,
CFTC ,
Class Action ,
Deutsche Bank ,
FinTech ,
Innovative Technology ,
Insider Trading ,
Interest Rate Adjustments ,
OCC ,
RBS ,
Stock Markets ,
Stocks ,
Underwriting ,
Wells Fargo
After months of anticipation, yesterday was finally official Snap IPO day. And despite losses of more than $500 million last year, the company saw willing investors flock to buy the $17 shares, pushing Snap’s valuation to...more
3/2/2017
/ Capital Raising ,
Data Breach ,
Department of Labor (DOL) ,
Dow Jones ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Institutions ,
Financial Markets ,
Hedge Funds ,
Initial Public Offering (IPO) ,
Insider Trading ,
Investment Adviser ,
Securities and Exchange Commission (SEC) ,
Snapchat ,
Social Media ,
SoftBank ,
Wells Fargo ,
Yahoo!
A review of the Fed minutes released yesterday shows the willingness of some Fed Governors to start rate raising again sooner rather than later....more
2/23/2017
/ Academy Awards ,
Banking Sector ,
Banks ,
Energy Sector ,
Federal Reserve ,
Financial Crisis ,
Financial Institutions ,
FinTech ,
Foreclosure ,
Innovation ,
Innovative Technology ,
Interest Rate Adjustments ,
Interest Rates ,
NASA ,
Outer Space ,
Renewable Energy ,
Secretary of the Treasury ,
Shareholders ,
Silicon Valley ,
Solar Energy ,
SolarCity ,
Tax Reform ,
TCPA ,
Technology ,
U.S. Treasury ,
Wells Fargo
Activist investor Carl Icahn has taken a sizeable stake in Bristol-Myers Squibb, a move that reportedly caught execs at the drugmaker unawares and sets the stage for a potential sale....more
2/22/2017
/ Activist Investors ,
Anti-Money Laundering ,
Automotive Industry ,
Automotive Loans ,
Bank Accounts ,
Banks ,
Bristol-Myers Squibb ,
Consumer Financial Products ,
Consumer Lenders ,
Cross-Selling ,
False Claims Act (FCA) ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Fraud ,
HSBC ,
Interest Rate Adjustments ,
Money Laundering ,
Multinationals ,
Pharmaceutical Industry ,
UK ,
Universal Health Services Inc v United States ex rel Escobar ,
Wells Fargo
The Journal reported yesterday that more than 6,000 Wells Fargo branches were routinely tipped off to inspections by internal risk monitors, a practice that allowed the bank’s sham-account scandal to go undetected for years....more
1/25/2017
/ Activist Investors ,
Alibaba ,
Banks ,
Capital Raising ,
Conflicts of Interest ,
Deutsche Bank ,
Fannie Mae ,
Financial Institutions ,
Financial Markets ,
Housing Market ,
Initial Public Offering (IPO) ,
Investment Firms ,
Mortgages ,
Real Estate Market ,
Rental Property ,
RMBS ,
Snapchat ,
Social Media ,
Trust Indenture Act ,
Wells Fargo
Some early signs of the focus of SoftBank’s “hugely ambitious” $100 billion investment fund are beginning to emerge, and at first blush, it appears a majority of the cash will land in private and public markets rather than...more
1/11/2017
/ Automotive Industry ,
Banks ,
Carbon Emissions ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Financial Institutions ,
Foreign Currency ,
Forex ,
Investment Funds ,
Market Manipulation ,
National Emissions Standards ,
Solar Energy ,
Solar Panels ,
Startups ,
Valeant ,
Volkswagen ,
Wells Fargo ,
White Collar Crimes
Former NJ Senator and Governor Jon Corzine has reached a $5 million settlement with regulators over the collapse of his MF Global firm, which filed bankruptcy in 2011 and lost more than $1 billion in customer investments....more
1/6/2017
/ Airlines ,
Bitcoin ,
Black & Decker ,
CFTC ,
China ,
Commercial Bankruptcy ,
Criminal Prosecution ,
Customer Funds Protection ,
Department of Labor (DOL) ,
Digital Currency ,
Employees ,
Financial Institutions ,
Foreign Currency ,
Futures ,
Initial Public Offering (IPO) ,
Job Creation ,
MF Global ,
Sears ,
Securities Fraud ,
Securities Traders ,
Segregated Funds ,
Virtual Currency ,
Wells Fargo
In the ongoing battle over almost $38 billion in securities at issue in post-crisis-era lawsuits, the big banks are pushing hard for appellate courts to blow up the Firrea extender provision and find that the DOJ waited too...more
12/14/2016
/ Banks ,
Credit Suisse ,
Extender Statutes ,
Financial Institutions ,
FIRREA ,
Interest Rate Adjustments ,
Martin Act ,
Nintendo ,
Regulatory Oversight ,
RMBS ,
Wells Fargo
Streetwise traces Italy’s Banca Monte dei Paschi’s big-time current troubles to a meeting nearly a decade ago and the ill-fated deal reached there that’s led to the downfall of 3 (and probably 4) of the world’s biggest and...more
12/13/2016
/ Bank Accounts ,
Banks ,
Cross-Selling ,
Cyber Attacks ,
Cybersecurity ,
Department of Justice (DOJ) ,
Financial Institutions ,
Financial Markets ,
Fraud ,
Healthcare Fraud ,
Investment ,
Italy ,
Pharmaceutical Industry ,
Prudential Insurance ,
RICO ,
Startups ,
Wells Fargo ,
White Collar Crimes
The Times went all in on Twinkies this weekend, with a look at how they came to be and how their comeback recently helped private equity execs laugh their way to the bank....more
12/12/2016
/ Banks ,
Blockchain ,
Cross-Selling ,
Cryptocurrency ,
Digital Currency ,
Financial Institutions ,
Financial Markets ,
Food Manufacturers ,
France ,
Goldman Sachs ,
IMF ,
Insurance Industry ,
Negligence ,
Oil & Gas ,
OPEC ,
PepsiCo ,
Private Equity ,
Prudential Insurance ,
Twitter ,
Virtual Currency ,
Wells Fargo