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$CFG said that its 1Q16 allowance to loan ratios came in at 1.21%, while the allowance to NPL ratio was 113%, both of which are relatively flat to 4Q15. During 1Q16, the company identified a $373MM portfolio of consumer real estate TDR loan that it plans to sell late in 2Q16 or early 3Q16. $CFG transfers these to loans to held-for-sale.
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.