Tag Archives: Big Banks

Last night, former Secretary of State Hillary Clinton and Bernie Sanders went toe-to-toe in a Democratic debate and ultimately revealed that the two have vastly different viewpoints on how to rein in large financial firms.

It is now more than seven years since the housing crisis hit, and settlements over claims of residential mortgage-backed securities are still alive and well.

For San Francisco-based Wells Fargo in Q1, revenues increased by 3 percent year-over-year up to $21.3 billion. Although net income slightly declined from the same quarter a year ago from $5.9 billion to $5.8 billion, noninterest income for the bank jumped by $29 million up to $10.3 billion. The bank received higher income in Q1 from trading activities, debt security gains, mortgage origination gains, and insurance, but the higher income was offset by lower income in mortgage servicing, which was at $108 million for Q1 compared to $235 million for Q4 2014. Wells Fargo posted mortgage banking noninterest income of $1.5 billion for Q1.