City Fargo, county Wells Financial News

PE investor Nordic Capital has signed an agreement to acquire a majority share in Zafin, a provider of SaaS core modernisation and transformation solutions for financial institutions. The investment is made in close partnership with Zafin’s founders and management, who will reinvest in the company alongside Nordic Capital, the company said in a statement.

The Biden administration is easing its restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals

Stocks returned to record heights following some mixed reports on the economy

After a string of good news in the past few weeks, LPL has notched another small win as it welcomes a new advisor team to its ranks.

By Niket Nishant and Nupur Anand

Inflation has pulled back significantly from its pandemic-era peak. In fact, some categories have fallen into outright deflation, meaning consumers are seeing their prices decline instead of rise.

History suggests there will be at least a 5% slide in the S&P 500, according to Wells Fargo in a note Wednesday.

(Reuters) — Citigroup may need to prioritize fixing regulatory issues amid its global reorganization efforts, analysts at J.P.Morgan wrote in a note.

Stifel Financial Corp’s independent contractor broker-dealer subsidiary – Stifel Independent Advisors – has welcomed a $335 million advisor practice, it’s second so far this year.

In a continuing effort to strengthen its presence across the wealth management and private banking spaces, Citizens Financial has bolstered its leadership with two critical hires.

The three biggest American retail banks collected 25% less overdraft revenue last year as the companies, under pressure from regulators to cap the fees, created new ways for customers to avoid the penalties.

Airbnb Inc. is planning to increase the guest service fee for cross-currency bookings as the vacation-rental company pushes into more international markets to boost growth. Starting April 1, an additional fee of as much as 2% will be charged to guests if they pay in a different currency from the listing, Airbnb said on its website. That would bring the guest service fee to as much as 16.5% of the subtotal, which excludes taxes. Hosts can also choose to tack on a cleaning fee, which has prompted complaints from some guests as being excessive. “From time to time, we adjust our fees to better align with the value we provide,” the San Francisco-based company said in an email to users Wednesday. The move could drive approximately $200 million to $500 million in incremental profit in 2025, according to TD Cowen analyst Kevin Kopelman. While the tailwind may be offset if users shift to paying in local currency at checkout, there may still be a high-single-digit impact to 2025 Ebitda, Ken Gawrelski, an analyst at Wells Fargo, wrote in a note. “Sometimes we make changes to give us flexibility to offer and evaluate new products, features and policies, including fees,” Sam Randall, an Airbnb spokesman, said in a separate statement to Bloomberg.

Wells Fargo & Co. lifted Chief Executive Charlie Scharf’s pay to $29 million for 2023, a year in which profit grew and the bank’s shares outperformed those of rivals. 

'Barron's Roundtable' host Jack Otter discusses Biden's economy as the Treasury Secretary Janet Yellen is expected to take aim at Trump's economy and Big Tech stocks' impact on markets.

The first question an investor needs to ask before buying one of the new bitcoin ETFs is if they actually want to own bitcoin

(Reuters) — Morgan Stanley Direct Lending Fund said on Tuesday it had raised $103.35 million in its initial public offering.

Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for Futu, Apple, and IBM; downgrades for Boeing.

By Nupur Anand

Macro Trends Advisors founding partner Mitch Roschelle joins 'Varney & Co.' to discuss the housing market under the Biden administration as monthly mortgage payments continue to soar. 

Wells Fargo (WFC) was downgraded to Hold from Buy at Odeon in a note on Thursday with a $48.80 price target.

(Reuters) — M&T Bank (NYSE:MTB)'s fourth-quarter profit plummeted 37% on Thursday, due to higher deposit costs and a special assessment fee the lender has to pay to refill a government deposit insurance fund