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$USB said it expects that the Federal Deposit Insurance Corporation surcharge assessment for larger banks will begin in 3Q16, which will increase expenses by about $20MM. Expenses related to the company's tax credit business are seasonally higher moving into 3Q16. These two items account for more than half of the expected quarterly expense growth.
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.