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$FHN, which competes with $BAC, $STI and $RF, said that in Asset Quality, net charge-offs were $9MM in 1Q16 vs. $2MM in 4Q15. Linked quarter, the company saw an uptick in 30-day delinquencies which were up 12 BP. The consolidated allowance loan ratio was 116 BP at 1Q16-end.
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.