WELLS FARGO & CO (WFC:US)

WELLS FARGO & CO News

• Goldman Sachs Research Disputes ‘Too Big to Fail’ Subsidy

  Bond investors don’t perceive the six biggest U.S. banks as “too big to fail,” according to a report from one of those lenders, Goldman Sachs Group Inc.

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  Senate Leaders Millionaires in Financial-Disclosure Data

  Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell reported their net worth in the millions of dollars as the U.S. Senate released personal financial disclosure reports for its members.

• Flagstar Said to Weigh Sale of Mortgage-Servicing Rights

  Flagstar Bancorp Inc., the Michigan lender rescued by MatlinPatterson Global Advisers LLC in 2009, is considering a sale of the collection rights on more than $70 billion in mortgages, people with knowledge of the matter said.

• Junk Yields Outweigh Default Risk, Wells Capital’s Patel Says

  Investors may still find value in speculative-grade corporate bonds paying record-low yields as a falling default rate curbs the risk of losses, according to Margie Patel, a money manager at Wells Capital Management Inc.

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  Fannie Mae Said to Sell Boom-Era CMBS to Reduce Holdings

  Fannie Mae plans to sell $2 billion of commercial-mortgage bonds issued before the credit market seizure as it seeks to reduce holdings of illiquid assets, according to three people familiar with the offering.

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  CFTC Said Preparing ISDAfix Probe Talks in Weeks: Credit Markets

  Commodity Futures Trading Commission investigators are poring over 1 million e-mails and instant messages as part of their price-manipulation probe of a swaps benchmark that helps determine interest rates on everything from annuities to bonds linked to skyscrapers.

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  Demoting Jamie Dimon Won’t Fix JPMorgan’s Poor Governance

  Should the board of JPMorgan Chase & Co. force Jamie Dimon, the bank’s chairman and chief executive officer, to give up one of his jobs? Governance watchdogs, shareholder advisory services and public pension funds say yes. Other large shareholders, some prominent academics and the bank say no. The company will reveal May 21 how many shareholders support a proposal to separate the jobs (though the vote is nonbinding).

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  Wells Fargo Rises to Record Close as Home Market Rebounds

  Wells Fargo & Co., the largest U.S. home lender and the nation’s most valuable bank, closed at a record high yesterday as strength in the economy and housing markets spurred buyers.

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  Wells Fargo Leads Bank Foreclosure Halt After OCC Guidance

  Wells Fargo & Co., the biggest U.S. home lender, halted some foreclosure sales until it can understand new federal guidelines on seizures sent to the nation’s large and mid-sized banks.

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  Wells Fargo Cites New Facts in Bid to Disband Plaintiffs

  Wells Fargo & Co., citing “new facts,” asked a judge to revoke the class-action status he bestowed on a suit by institutional investors who claimed the bank marketed a risky securities-lending program as safe.

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