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$KEY said its 4Q15 noninterest expense was $736MM. This included $20MM of charges consisting of $10MM of efficiency charges mainly related to branch closures and severance, $6MM of meger-related costs, and $4MM of pension settlement expense. Compared to 4Q14, noninterest expense was up 5%. The company also said that expenses were up 2% from 3Q15.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.