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Excluding PCI loans, $BBT's provision for credit losses was $182MM in 1Q16, compared to $105MM in 1Q16. 1Q16 provision includes approx. $58MM related to the energy lending portfolio. Net charge-offs for 1Q16, excluding PCI loans, were $154MM, up $54MM compared to 4Q15 mainly due to $30MM in charge-offs related to the energy lending portfolio.
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.