4 Financial Stock Stories Making Midweek Moves
Wells Fargo & Co. (NYSE:WFC): Current price $41.18
On Wednesday, New York Attorney General Eric Schneiderman said he is bringing a lawsuit against Wells Fargo for its alleged failure to comply with the terms of the $25 billion national mortgage settlement from last year. At the same time, he also said he was dropping the suit against Bank of America (NYSE:BAC) regarding similar complaints, since that bank has agreed to improve its practices. Schneiderman announced in May that he intended to sue the two banks for not adhering to servicing standards set by the mortgage settlement in early 2012 to help borrowers in trouble.