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$WFC 2Q15 Call: On the efficiency ratio, I think it’s going to stay in the upper part of the range until revenue moves higher which will happen as a result of rates moving higher over short period of time. We are spending the money to run a great business today. That gets us to 58% plus or minus, which is a good number for a bank of our size.
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.