Wells Fargo Seeks to Settle ‘Banking While Black’ Mortgage Case – BNN Bloomberg

Saturday, 3 June 2023, 19:53:03
Wells Fargo & Co. is pursuing private mediation to settle claims of widespread discrimination against Black homeowners by denying them lower interest rates through refinancing and forcing them to pay more for loans.
— BNN Bloomberg

Amazon and Google fund anti-abortion lawmakers through complex shell game

Saturday, 3 June 2023, 13:00:30
Blue-chip companies gave to Republican group funneling money to lawmakers who overturned abortion-ban veto in North Carolina As North Carolina’s 12-week abortion ban is due to come into effect on 1 July, an analysis from the non-profit Center for Political Accountability (CPA) shows several major corporations donated large sums to a Republican political organization which in turn funded groups working to elect anti-abortion state legislators. The Republican State Leadership Committee (RSLC) received donations of tens of thousands of dollars each from corporations including Comcast, Intuit, Wells Fargo, Amazon, Bank of America and Google last year, the CPA’s analysis of IRS filings shows. The contributions were made in the months after Politico published a leaked supreme court decision indicating that the court would end the right to nationwide abortion access. Continue reading…
— The Guardian

Greystone Arranges $287 Million Financing Package for Douglaston Development”s 456-Unit Mixed-Income Rental Development in Brooklyn, NY

Friday, 2 June 2023, 15:00:00
NEW YORK, June 02, 2023 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, announced it has arranged $287 million in combined construction financing and preferred equity for Douglaston Development”s 1057 Atlantic Avenue , a 474,000-square-foot, 17-story, 456-unit mixed-income multifamily rental development in Brooklyn”s Bedford-Stuyvesant neighborhood. Notably, the project will also be one of the last large-scale new rental housing developments eligible to receive a 35-year real estate tax exemption under the recently expired Affordable New York Housing Program (formerly known as 421-a). Greystone Capital Advisors” Drew Fletcher, Paul Fried, and Bryan Grover served as exclusive advisors in arranging the financing on behalf of Douglaston Development. Wells Fargo Bank led the $185 million construction financing as Administrative Agent, partnering with M&T Bank as Joint Lead Arranger and Bank United also participating in the facility. Funds managed by an affiliate of Ares Real Estate Income Trust, Inc. provided a $102 million preferred equity investment in the project.
— Benzinga

This Pro Loves Bank Stocks. He Thinks Others Should, Too.

Thursday, 1 June 2023, 08:30:00
Chris Davis, chairman of Davis Advisors, makes the case for Capital One, Wells Fargo, BNY Mellon, and more.
— Barron”s

Wells Fargo”s CEO says there will be losses in office loan portfolio

Thursday, 1 June 2023, 05:34:00
“We will see losses, no question about it. But in the context of the overall portfolio and the overall size of our loan portfolio with the company, we are not overly concentrated in office (loan space),” Scharf said while speaking to investors at a conference.
— Economic Times India Real Estate