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$SYF said that its net interest income for 1Q16 grew 11.6% YoverY to $3.2Bil, primarily driven by strong loan receivables growth. Loan receivables rose 13% YoverY to $66Bil. Provision for loan losses increased 31.4% to $903MM for the quarter. In addition, purchase volume for the quarter grew 17% YoverY, and deposit grew 29%.
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.