Wells Fargo to pay fines, customers
Wells Fargo will pay 185 million dollars for pushing customers into accounts they never requested.
The accounts generated fees that boosted the bank’s bottom line.
More than two million of these deposit and credit card accounts were open that weren’t authorized according to the Consumer Financial Protection Bureau.
More than 5-thousand workers have been fired, according to CNN.
Some of the 185 million will go to customers, some to pay fines and penalties.
Walgreens says it will sell a thousand stores to get approval for the Rite Aid buyout.
The Wall Street Journal says it’s unclear which stores will be sold but even with the thousand, the combined company will still be larger than CVS Health.
Stocks dipped on Thursday, pulled lower by Apple after its latest iPhone failed to impress Wall Street, but gains in energy shares limited the decline as oil prices rallied.
The Dow lost 46 points.
Union workers at Just Born have walked out of the job.
Just Born is best known for making Peeps, those colorful candies that are everywhere at Easter time.
The workers have disagreements with the company over wages, health benefits and pensions.
Ford’s dilemma with doors that wont’ stay shut continues.
It’s added one and a half million more vehicles to the recall.
Now the total number of vehicles in the recall is 2 point 4 million.
This recall affects the 2013-2015 Ford C-Max and Escape, 2012-2015 Ford Focus, 2014-2016 Ford Transit Connect and 2015 Ford Mustang and Lincoln MKC.
For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.