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Stock market today: Wall Street rises to close its latest record-setting week as banks jump
Read full article: Stock market today: Wall Street rises to close its latest record-setting week as banks jumpU.S. stocks rose to records as JPMorgan Chase, Wells Fargo and other big financial companies rallied on better-than-expected profit reports.
One phone call drains $17K from Pearland woman’s bank account
Read full article: One phone call drains $17K from Pearland woman’s bank accountWe've all (or know someone) who has been impacted by financial scams and Pearland Police say it's hard to catch these scammers and banks have just as difficult a time recovering the stolen money.
At least 4 killed after severe storm sweeps through Houston area
Read full article: At least 4 killed after severe storm sweeps through Houston areaThe severe storms that slammed into Houston Thursday afternoon and evening killed four people, blew windows out of downtown high rises, caused widespread damage and shut power off to nearly 900,000 customers.
Taylor Pendrith gets 1st PGA Tour win at Byron Nelson after final-hole collapse from Ben Kohles
Read full article: Taylor Pendrith gets 1st PGA Tour win at Byron Nelson after final-hole collapse from Ben KohlesTaylor Pendrith took advantage of Ben Kohles’ final-hole meltdown to win the CJ Cup Byron Nelson on Sunday for his first PGA Tour title.
Big banks warn of uncertain year ahead after mixed financial performances in the first quarter
Read full article: Big banks warn of uncertain year ahead after mixed financial performances in the first quarterBig banks warned of an uncertain year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere.
US eases restrictions on Wells Fargo after years of strict oversight following scandal
Read full article: US eases restrictions on Wells Fargo after years of strict oversight following scandalThe Biden administration is easing its restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals.
Wells Fargo workers at New Mexico branch vote to unionize, a first in modern era for a major bank
Read full article: Wells Fargo workers at New Mexico branch vote to unionize, a first in modern era for a major bankEmployees at a Wells Fargo bank in New Mexico have voted to unionize, the first time that workers at a major U.S. bank have attempted to organize in the modern era.
Stock market today: Wall Street struggles as war worries collide with hope for stronger profits
Read full article: Stock market today: Wall Street struggles as war worries collide with hope for stronger profitsU.S. stocks mostly fell after getting pulled in opposite directions by competing waves of optimism and fear.
Event at Houston Community College campus teaches prospective first time homeowners about buying process
Read full article: Event at Houston Community College campus teaches prospective first time homeowners about buying processThe homebuying process can be a scary one, but with knowledge and education, many will soon achieve their goal of becoming a first time homeowner.
Wells Fargo 4Q profit falls by half but tops expectations
Read full article: Wells Fargo 4Q profit falls by half but tops expectationsWells Fargo’s profit for the fourth quarter came in ahead of Wall Street’s targets but were about half of what it earned last year as the bank had to pay another $3.3 billion in fines and penalties to settle numerous scandals from recent years.
Wells Fargo to pay $3.7B over consumer law violations
Read full article: Wells Fargo to pay $3.7B over consumer law violationsConsumer banking giant Wells Fargo agreed to pay $3.7 billion to settle charges that it harmed consumers by charging illegal fees and interest on auto loans and mortgages, as well as incorrectly applied overdraft fees against savings and checking accounts.
KPRC 2 Investigates: Zelle fraud victims rarely get their money back
Read full article: KPRC 2 Investigates: Zelle fraud victims rarely get their money backChase, Bank of America, Wells Fargo... no matter which bank you use, you probably trust your bank to protect your money. But consumer advocates are calling out the nation's largest banks for giving thieves easy access to your cash through an app and platform they created. They say new numbers from some of those banks show just how much criminals are making from Zelle.
Suspicious package found at downtown Houston building was no threat to public, police say
Read full article: Suspicious package found at downtown Houston building was no threat to public, police saySeveral streets in downtown Houston were temporarily shut down Wednesday as police investigated a suspicious package found at a building.
Houston area minority developer working to bring affordable housing to Houston through new Wells Fargo program
Read full article: Houston area minority developer working to bring affordable housing to Houston through new Wells Fargo programAt a glance, the new up-and-coming housing development on Caroline st in Midtown looks like many other construction projects throughout the city, but there’s a unique story behind it.
Mayor Turner, Wells Fargo announce launch of $20M grant for small, diverse businesses, non-profit organizations in Houston area
Read full article: Mayor Turner, Wells Fargo announce launch of $20M grant for small, diverse businesses, non-profit organizations in Houston areaHouston Fund for Social Justice and Economic Equity Honorary Board Chair Mayor Sylvester Turner, along with Wells Fargo and Black Houston business and civic leaders, announced the launch of the Open for Business Grant portal to distribute $20 million to Houston-area diverse, small businesses and non-profit organizations.
Big bank profits decline as deal-making, mortgages slow
Read full article: Big bank profits decline as deal-making, mortgages slowFour big banks reported noticeable declines in their first quarter profits on Thursday, as the volatile markets and war in Ukraine caused dealmaking to dry up and a slowdown in the housing market caused the mortgage market to slow.
Wells Fargo's $5.8 billion profit easily tops expectations
Read full article: Wells Fargo's $5.8 billion profit easily tops expectationsWells Fargo easily beat Wall Street expectations for the fourth quarter with interest rates beginning to take off, likely another boost for the nation’s largest mortgage lender going forward.
KPRC 2 Investigates: Phone number swap scam warning
Read full article: KPRC 2 Investigates: Phone number swap scam warningA new scam is targeting something just about all of us have in our pocket or purse - our cell phone. It’s called SIM swap fraud and our KPRC 2 Investigates team explains how criminals can steal your phone, your personal information and your money, without ever touching your device. We have the warning plus, what you need to do to protect the information on your phone.
Wells Fargo, Mayor Turner announce $5 million grant to boost low-and moderate-income homeownership in Houston
Read full article: Wells Fargo, Mayor Turner announce $5 million grant to boost low-and moderate-income homeownership in HoustonHouston Mayor Sylvester Turner and representatives of Wells Fargo announced an effort to boost low-and moderate-income homeownership in the city limits of Houston.
Pipeline foes gear up for large northern Minnesota protests
Read full article: Pipeline foes gear up for large northern Minnesota protestsEnvironmental and tribal groups opposed to Enbridge Energy’s ongoing effort to replace its aging Line 3 crude oil pipeline are planning large protests in northern Minnesota as the Canadian-based company gears up for a final construction push.
Wells Fargo posts $2 billion profit in 3Q, reversing 2Q loss
Read full article: Wells Fargo posts $2 billion profit in 3Q, reversing 2Q lossWells reported revenue of $18.86 billion in the quarter, also down from last year's third quarter when it took in $22 billion. Wells set aside $769 million in the third quarter for loan loss provisions, which is the money set aside to cover potentially bad loans. Wells Fargo lost $2.4 billion in the second quarter, the first quarterly loss for the bank since the real estate crash of 2008. Wells Fargo said its net interest income was $9.4 billion, down $2.3 billion from last year's period. On top of the difficulties presented by the virus pandemic, Wells has been in seemingly constant trouble with regulators for years.
Asian stocks follow Wall St lower as stimulus hopes fade
Read full article: Asian stocks follow Wall St lower as stimulus hopes fadeStocks are pulling slightly higher in the early going on Wall Street, Wednesday, Oct. 14, as investors pore over another batch of earnings reports from big U.S. companies. (AP Photo/John Minchillo, File)Asian stocks followed Wall Street lower on Thursday as hopes U.S. leaders will agree on a new economic stimulus before the Nov. 3 presidential election faded. The Shanghai Composite Index lost 0.1% to 3,337.51 and the Nikkei 225 in Tokyo fell 0.5% to 23,517.63. On Wall Street, companies that rely on consumer spending, banks and technology and communication stocks bore the brunt of the selling. Wells Fargo dropped 6% after its earnings were lower than Wall Street expected.
Wells Fargo CEO apologizes for comments about diversity
Read full article: Wells Fargo CEO apologizes for comments about diversityFILE - In this March 10, 2020 file photo, Wells Fargo CEO and President Charles Scharf is seated before he testifies during a hearing of the House Financial Services Committee, on Capitol Hill, in Washington. (AP Photo/Alex Brandon, File)NEW YORK – Wells Fargo CEO Charles Scharf apologized Wednesday for comments he made suggesting it is difficult to find qualified Black executives in the financial industry. Scharf said in a memo to employees “there is a very limited pool of Black talent to recruit from” in corporate America. “Perhaps it is the CEO of Wells Fargo who lacks the talent to recruit Black workers,” said Rep. Alexandra Ocasio-Cortez of New York, on Twitter. The last prominent African American to serve as CEO at a large financial services company was Kenneth Chenault, the former CEO of American Express.
Houston-area families can get free food at these distribution events every Saturday through mid-Sept.
Read full article: Houston-area families can get free food at these distribution events every Saturday through mid-Sept.LA PORTE, Texas – Wells Fargo is partnering with the Houston Food Bank to distribute meals to those who need them. The distribution will start Saturday at the Wells Fargo La Porte Branch on 1001 Highway 146 South. People can drive up to the branch between 1:30 p.m. and 3 p.m. to get food. “Wells Fargo has a long-standing commitment to help our local communities—especially during challenging times. We are glad to bring nourishment for many families and hope this modest gesture lifts spirits and reminds people that they are not alone.”