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$USB 2Q15 Call – Kathy Rogers, CFO: Net interest income increased by $26MM or 0.9% YoverY. Net interest margin of 3.03% was 24 bp lower than of 2Q14 and 5 bp lower than of 1Q15, expects to be relatively stable in 3Q15. Excluding ForEx impact, merchant processing fees grew approx. 7.6% YoverY. Retail credit and debit card fees grew 2.7% YoverY.
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.