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The Friday Express: North American financials


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The Friday Express: North American financials

* In a lawsuit filed against Wells Fargo, three former branch managers claim that Lefky Mansi, a Los Angeles area president, and Shabnam Ebrahimi, a district manager, explicitly told employees to "make up a business need" to gain access to accounts, Bloomberg News reports, citing court documents.

* Meanwhile, Wells Fargo has established a four-member committee to conduct an internal probe into the fake-accounts scandal, a source told Reuters.

* Time Inc. has reportedly hired Morgan Stanley and Bank of America to solicit takeover or partnership offers from interested parties, say sources for The Wall Street Journal.

* Renasant Bank inked an agreement with the FDIC to terminate loss-share agreements related to the bank's acquisition of assets and assumption of liabilities of two failed banks via FDIC-assisted transactions in 2010 and 2011.

* Athene Holding announced the pricing of the IPO of 27 million of its class A common shares at $40 per share.

* Unum Group's former CEO, Thomas Watjen, is not standing for re-election as nonexecutive chairman at the May 2017 annual shareholders meeting.

* SEC Enforcement Director Andrew Ceresney will resign by the end of the year.

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