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$RF 2Q15 Call: Adjusted efficiency ratio was 64.5%, up 40 bps from 1Q15. Net charge-offs fell $8MM, represented 23 bps of average loans. Provision for loan losses was $63MM. TDRs declined 7% and NPLs decreased 6%. Basel III Common Equity Tier 1 ratio estimated at 11.2%. Liquidity remained solid with a low loan deposit ratio of 83%.
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.