Wednesday, August 29, 2012

Will Wells Fargo soon face more public scrutiny?

Welcome to the morning roundup. Here's a look at what's news in banking and finance this morning.

More scrutiny for Wells? As Wells Fargo gains share in retail banking and continues its mortgage dominance, the bank could face a step-up in media scrutiny, Fierce Finance says, something neighbor Bank of America is all too familiar with.

Chinese banks lend in America. China's largest banks are increasingly making loans to U.S. companies, the Financial Times reports, as their American counterparts continue to tread carefully. The Chinese share of the syndicated loan market reached 6.1 percent his year, up one percentage point from last year. Clients include UPS, General Electric, Disney and Caterpillar.

Paulson soothes BofA. In case you were wondering how that John Paulson-Bank of America wealth management phone call went yesterday, it apparently went well. The Wall Street Journal says that the hedge fund manager acknowledged recent struggles but said the fund hasn't seen a dramatic outflow of customers and that they are committed to earning back money lost.

OWS isn't over. Nope, Occupy Wall Street isn't over. The group is planning to celebrate it's one-year anniversary in New York City by blocking cars in the financial district on Sept. 17 and ringing the New York Stock Exchange, Bloomberg reports.


Anonymous said...

Do you proofread your blogs before posting or does anyone do it for you? If you are going to start drama about Wells at least type a grammatically correct sentence.

Who knew Charlotte had a financial gossip column!