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Wells Fargo plans to eliminate sales goals sooner than planned

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Embattled Wells Fargo & Co plans to eliminate sales goals for its retail banking business sooner than planned, according to prepared remarks its chief executive officer will deliver at a congressional hearing on Thursday. | Video

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California suspends business relationships with Wells Fargo 4:27pm EDT

SAN FRANCISCO California State Treasurer John Chiang on Wednesday announced a sweeping suspension of business relationships with Wells Fargo & Co as punishment for the company's defrauding of customers.

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Germany denies preparing to rescue Deutsche Bank 1:10pm EDT

FRANKFURT The German government denied that it was working on a rescue of Deutsche Bank after a newspaper report about such plans fueled fears over the future of the biggest lender in Europe's largest economy. | Video

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Credit Suisse CEO says bank relatively well positioned for Brexit 11:44am EDT

LONDON Credit Suisse Chief Executive Tidjane Thiam said on Wednesday that his bank was relatively well placed to deal with the impact of Britain's vote to leave the European Union.

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Wells Fargo plans to eliminate sales goals sooner than planned 10:40am EDT

Embattled Wells Fargo & Co plans to eliminate sales goals for its retail banking business sooner than planned, according to prepared remarks its chief executive officer will deliver at a congressional hearing on Thursday.

Deutsche Bank CoCo bonds trading surges as crisis deepens 9:37am EDT

LONDON Trading in Deutsche Bank's so-called 'CoCo' bonds in September has soared to levels more than seven times those of the previous month as Germany's biggest lender struggles to allay investors' concerns over its funding needs.

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German government prepare Deutsche Bank rescue plan: Die Zeit 7:45am EDT

FRANKFURT The German government and financial authorities are preparing a rescue plan for Deutsche Bank in case the lender would be unable to raise capital itself to pay for costly litigation, German weekly Die Zeit reported.

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Worries over German banks sink bond issue, rattle shares 7:03am EDT

FRANKFURT Deutsche Bank shares hit a record low on Tuesday and state-backed lender NordLB scrapped plans for a 500 million euro ($560 million) bond sale, underlining investor concern about the health of the financial industry in Europe's largest economy. | Video

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StanChart tells authorities about corruption allegations at Indonesian firm 6:10am EDT

LONDON/WASHINGTON Standard Chartered has told "appropriate authorities" about alleged corruption at an Indonesian power plant company majority-owned by its private equity arm, the bank said.

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RBS to pay $1.1 billion to resolve some of its U.S. mortgage claims 6:03am EDT

NEW YORK Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration (NCUA) said.