Mortgage Blog

Wells Fargo named Amanda “Mandy” Norton, most recently chief risk officer of consumer and community banking at JPMorgan Chase, as its chief risk officer today.

The decision to go outside the bank to fill this key role will go over well with those eager to see Wells move beyond a series of scandals plaguing the bank since 2016.

Norton, who will move to San Francisco when she starts this summer, has almost three decades of banking experience, having worked for Chase (NYSE: JPM), Ally Financial…

Wells Fargo & Co.’s legal tab keeps blowing up. On Friday, the embattled bank agreed to pay $480 million to resolve a class action lawsuit brought by investors accusing the company of securities fraud related to its fake-account scandal.

San Francisco-based Wells Fargo (NYSE: WFC), which has its Wells Fargo Advisors subsidiary in St. Louis, disclosed the settlement in its first quarter Form 10-Q filed on Friday. It is still subject to final approval by a federal judge.

The lawsuit, which was…

Due to its status as the world’s biggest mutual fund company and second-largest asset manager, Vanguard Group often winds up being one of the largest investors in many stocks. In a recent commentary posted to its website, the Malvern, Pa.-based company said that it has been using its power to push companies on hot topics such as gun violence, the opioid crisis, and climate change.

The commentary, called “Vanguard’s voice on societal risks,” came a few days after David Hogg, one of the most…

Bank of America Corp. is being sued in federal court by a 27-year-old Brazilian man who says the bank wrongly discriminated against him when it refused to consider him for hire because of his non-citizen status.

Daniel Marques, who resides in New Jersey, was granted authorization to work in the U.S. under Deferred Action for Childhood Arrivals, a permitted status that can be renewed every two years. DACA also allows individuals brought to the U.S. illegally as children to qualify for a period of…

Charlotte-based Bank of America Corp. (NYSE:BAC) is being sued in federal court by a 27-year-old Brazilian man who says the bank wrongly discriminated against him when it refused to consider him for hire because of his non-citizen status.

Daniel Marques, who resides in New Jersey, was granted authorization to work in the U.S. under Deferred Action for Childhood Arrivals, a permitted status that can be renewed every two years. DACA also allows individuals brought to the U.S. illegally as children…

Legendary value investor Warren Buffett is bullish about Apple, telling CNBC his firm bought another 75 million Apple shares in the most recent quarter, officially becoming the company’s third-largest shareholder.

Berkshire Hathaway now owns an estimated 240.3 million Apple Inc. shares, currently worth about $42.5 billion. Apple stock jumped 3.9 percent on the news, rallying the Dow Jones Industrial Average.

In an interview that aired Friday, Buffett, 87, said he was long on Apple, and not concerned…

From federal defense contracts to crowdfunding to venture capital, there are many avenues for Central Texas companies to rake in cash. Find out how these nine companies have done it.

Euronet Worldwide Inc. expanded its presence in Ireland with the purchase of 400 ATMs in that country, the company announced on Monday.

Leawood-based Euronet said it purchased 400 Easycash-branded ATMs from Ulster Bank. Terms of the purchase were not disclosed.

Euronet said the newly purchased ATMs will join its existing network, giving it 15 percent of ATMs in Ireland.

Euronet’s global network includes 38,359 ATMs.

In late April, Euronet announced its purchase of Spain’s Innova Taxfree Group.…

Wells Fargo & Co.’s legal tab keeps blowing up. On Friday, the embattled bank agreed to pay $480 million to resolve a class action lawsuit brought by investors accusing the company of securities fraud related to its fake-account scandal.

San Francisco-based Wells Fargo (NYSE:WFC), Charlotte's second-largest bank by deposits and the region's top financial-services employer, disclosed the settlement in its first-quarter Form 10-Q filed on Friday. It is still subject to final approval by a federal…

The bankruptcy filing follows an investor dispute and Securities and Exchange Commission investigation.