
Articles
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1 week ago |
news.bloombergtax.com | Yizhu Wang
Wells Fargo & Co. resolved another regulatory punishment after a top US regulator terminated a 2015 order against the bank, leaving it with one major hurdle to clear before it can put a series of scandals behind it. The Office of the Comptroller of the Currency ended the agreements which related to Wells Fargo’s previously held financial subsidiaries, the bank said in a statement Thursday. It was the 13th consent order closed by banking regulators since 2019, Wells Fargo said.
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1 week ago |
bloomberg.com | Carmen Arroyo |Yizhu Wang
Wall Street banks have emerged as the staunchest financial supporters of the $1.7 trillion private credit industry, with the volume of their loans to private debt funds soaring 145% over the past five years.
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1 week ago |
news.bloombergtax.com | Yizhu Wang
XYour Choices Regarding Cookies and IdentifiersWe and our 150 third party partners use cookies and similar technologies ("Cookies") and hashed identifiers (e.g., a hashed version of your name, email address or phone number) to help us identify you on our site and third-party sites and to process certain information, such as your IP address and digital identifiers, to analyze site usage and provide you with relevant advertisements and content.
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1 week ago |
news.bloomberglaw.com | Yizhu Wang
Wells Fargo & Co. agreed to sell the assets of its rail equipment leasing business to a venture between Brookfield Infrastructure Partners and GATX Corp. as the bank continues to refocus on its core lending and advisory businesses. The sale includes Wells Fargo’s portfolio of rail operating lease assets, which have a book value of about $4.4 billion, as well as its rail finance lease portfolio, the bank said Thursday in a statement.
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1 week ago |
bloomberg.com | Yizhu Wang
Gravel in railcars at a Union Pacific rail terminal in City of Industry, California, US, on Thursday, Dec. 1, 2022. The House passed legislation aimed at averting a crippling nationwide US freight rail strike, sending it to the Senate, which could take action as soon as this week. Photographer: Bing Guan/Bloomberg(Bloomberg) -- Wells Fargo & Co. agreed to sell the assets of its rail equipment leasing business to a venture between Brookfield Infrastructure Partners and GATX Corp.
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