trending Market Intelligence /marketintelligence/en/news-insights/trending/9u_tslghpqxd8krthex5qg2 content esgSubNav
In This List

The Thursday Express: Wells Fargo to pay $97M; CNA Financial faces lawsuit

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends

Blog

Insight Weekly: US inflation soars; real estate faces slowdown; megadeals drive tech M&A

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends

Blog

Commercial Banking: June 22nd Edition


The Thursday Express: Wells Fargo to pay $97M; CNA Financial faces lawsuit

* Two House Republicans are putting final touches on legislation that would raise the reporting threshold under the Bank Secrecy Act.

* Bank of America is facing a class-action lawsuit alleging that its former appraisal subsidiary, LandSafe, cherry-picked appraisers to help boost mortgage volumes before the financial crisis, the Financial Times reports.

* A federal judge in Los Angeles ordered Wells Fargo to pay $97 million to home mortgage consultants and private mortgage in California over breaks that they did not get but were entitled to, Bloomberg News reports.

* The Royal Bank of Scotland agreed to pay $4.9 billion to settle an investigation into the sale of residential mortgage-backed securities in the U.S., Reuters reports.

* Insurance company CNA Financial is being sued for allegedly raising premiums of certain long-term care insurance policyholders.

* AXA Equitable's IPO has been priced at $20 per share, lower than the expected share price of between $24 and $27.

* Public and private insurers are expected to pay at least $1.5 billion in claims from severe thunderstorms that hit the U.S. in April, according to a report from Aon Benfield's Impact Forecasting.

* Athene Holding continues to expand its holdings in asset-backed securities amid expectations of "significant growth" ahead for said securities.

* Pricing for policies that cover for executives' actions and decisions is slowly rising amid a spike in merger-related lawsuits and a wave of sexual misconduct scandals that hit the business.

The Daily Dose has an editorial deadline of 6:30 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.