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Banking/Savings and Loans

Wells Fargo faces lawsuits, angry lawmakers over car lending

NEW YORK (AP) — At least three lawsuits have now been filed against Wells Fargo from customers who say they were hurt by the bank’s latest scandal, involving how it operated its auto lending business. In Washington, D.C., some politicians ...

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US appeals court tosses convictions of British ex-bankers

NEW YORK (AP) — A U.S. appeals court cited the Fifth Amendment right to be free from self-incrimination as it reversed the convictions Wednesday of two British ex-bankers charged with conspiring to manipulate the primary benchmark for global short-term interest ...

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RBS to pay $5.5 billion in FHFA mortgage-bond settlement

Royal Bank of Scotland Group agreed to pay $5.5 billion to settle the second of three major U.S. mortgage-backed securities probes the government-owned lender must overcome before it can fully return to the private sector. The accord between the British ...

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Federal regulator moves to mostly ban arbitration clauses

NEW YORK (AP) — Consumers could band together to sue their banks or credit card companies under a federal rule issued Monday that’s likely to face resistance from Congressional Republicans and the White House. The Consumer Financial Protection Bureau decided ...

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Ex-BofA vice president, husband charged in embezzlement scam

A former Bank of America senior vice president and her husband were charged with embezzling more than $2.7 million by making charitable donations on behalf of the lender and then using intimidation and threats to get the money back for ...

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Warren Buffett slams Wells Fargo’s handling of massive sales scandal

Warren Buffett, chairman of Berkshire Hathaway, speaks with members of the media on the exhibit floor ahead of the Berkshire Hathaway annual meeting in Omaha on Saturday. CREDIT: Daniel Acker, Bloomberg News

Billionaire investor Warren E. Buffett rebuked Wells Fargo’s handling of widespread illegal sales practices that spanned at least 15 years and included targeting undocumented immigrants to open new bank accounts. Buffett said the San Francisco banking giant’s executives failed to ...

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Bank of New York Mellon profit soars in 4Q

NEW YORK  — Bank Of New York Mellon more than tripled its fourth-quarter profit on rising in net interest revenue and lower expenses, easily beating most expectations. Global economic turmoil still weighed on performance. Assets under management, because of weakness ...

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ESL accepting applications for scholarships

High school seniors in the Greater Rochester area have another chance at winning $2,000 to put toward their college expenses. ESL Federal Credit Union is now accepting applications for its annual scholarship program, with five scholarship awards totaling $10,000. Scholarship ...

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KeyCorp strikes $4.1B deal for rival bank First Niagara

CLEVELAND — KeyCorp will expand deeper into the Northeast with a $4.1 billion deal to buy First Niagara Financial Group and create the 13th largest commercial bank in the United States. Cleveland-based KeyCorp said Friday that it will pay a ...

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Treasury bureau lauds Rochester firm

Rochester-based Continental Service Group Inc., a provider of accounts receivable management services, was recognized as the top performer by The U.S. Department of the Treasury – Bureau of the Fiscal Service for the quarter ending in September. In 2011, the ...

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