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With regards to merchant and credit card issuing in 4Q16, $USB expects the continued level of growth seen in 3Q16, same-store sales of 2% plus and total revenue of 3-5%. Corporate payments tend to go down in 4Q, because 3Q is the strongest given the government activity.
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.