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The Tuesday Express: North American financials


According to Market Intelligence, December 2022


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The Tuesday Express: North American financials

* Comerica, Synovus Financial, Fulton Financial, Hancock Holding and Pinnacle Financial Partners are scheduled to release their third-quarter financial results today.

* President Donald Trump will formally interview Janet Yellen this week or the next as he considers renominating her for her current post as Federal Reserve chair, Politico sources say.

* In Illinois, Midland States Bancorp is buying Alpine Bancorp. for approximately $181.0 million.

* Six Democratic senators wrote to Department of Treasury Inspector General Eric Thorson asking him to investigate the special government employee status of Acting Comptroller of the Currency Keith Noreika.

* California State Treasurer John Chiang extended sanctions against Wells Fargo for a second year.

* Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network will pay more than $3.4 million in restitution to clients who were unsuitably recommended with volatility-linked exchange-traded products.

* The U.S. Supreme Court will review a case filed by the Department of Justice against American Express alleging the company of violating antitrust laws, The Wall Street Journal reports.

* Mitek Systems has acquired consumer identity verification solutions company ICAR for about $15.0 million.

* XL Group is buying a 20% stake in India-based Mahindra Insurance Brokers through its subsidiaries.

* Argo Group International expects pretax catastrophe losses of $85 million to $110 million, net of ceded reinsurance recoverables, reinstatement premiums and expected profit commissions, for the third quarter.

* Aspen Insurance projects about $310 million in pretax losses, net of reinsurance and reinstatement premiums, for the third quarter due to hurricanes Harvey, Irma and Maria.

* Brown & Brown reported third-quarter organic revenue growth of 3.4%, up from the previous quarter's rate of 1.6%.

* Analysts expect that some of the largest health insurers that pulled out of Affordable Care Act exchanges will likely see a year-over-year rise in earnings in the third quarter.

* And the Senate Committee on Banking, Housing and Urban Affairs will conduct a hearing entitled, "Consumer Data Security and the Credit Bureaus" at 10:00 a.m. ET today.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription.