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Tuesday Express: Wells may enter student loan refinancing market


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Tuesday Express: Wells may enter student loan refinancing market

* Wells Fargo is weighing a foray into the federal loan refinancing market, a move that would boost its shrinking student loan portfolio, Bloomberg News reports, citing John Rasmussen, the bank's head of personal lending.

* JPMorgan Chase plans to stop servicing Chase retail investment accounts of non-U.S. customers and focus instead on its domestic business, company spokeswoman Elizabeth Seymour told Bloomberg.

* In Texas, Dominion Bancshares is acquiring Grapeland State Bank in a deal expected to close in the fourth quarter.

* In Virginia, Atlantic Bay Mortgage Group and Virginia Community Bank terminated their planned merger after failing to receive necessary regulatory approvals.

* SEC Commissioner Hester Peirce said the Supreme Court's Kokesh ruling that subjects the SEC collections to the five-year statute of limitations could drive the agency to get the"really important" cases done faster.

* However, SEC Commissioner Robert Jackson Jr. said the ruling is an "enormous problem" for the agency's efforts to return hundreds of millions of dollars to defrauded investors.

* Private equity firm Silver Lake Partners and Goldman Sachs are serving as financial advisers on the proposed privatization of electric carmaker Tesla.

* Activist investor Carl Icahn informed the SEC that he is no longer interested in soliciting proxies to vote against Cigna's pending acquisition of Express Scripts Holding.

* And in the asset management space, AssetMark agreed to buy Global Financial Private Capital.

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