| This is Bill Roller of BR Capital with the KUIK Closing Market Report for Thursday, July 12. | |||||||
| Markets ended down today. | |||||||
| Direction | Change | Units | Last | Time | |||
| Dow | Down | (31) | points | 12,573 | 2:22 PM | ||
| S&P500 | Down | -0.50% | percent | 1,335 | |||
| Nasdaq Composite | Down | -0.75% | percent | 2,866 | |||
| 30 Year Treasury | Down | (2.50) | basis points | 2.56 | |||
| Wells Fargo announced it will pay $175 million to settle Justice Department charges that the company violated fair-lending laws by steering black and Hispanic borrowers into subprime mortgages. The settlement provides $125 million in compensation for borrowers who were steered into subprime mortgages or who paid higher fees because of their race or national origin. Wells Fargo will also provide $50 million in direct down payment assistance to borrowers in communities with large numbers of victims. The bank announced that it will discontinue funding mortgages through its wholesale mortgage unit on July 13. | |||||||
| Always serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/wells-fargo-to-pay-175-mln-on-fair-lending-charge-2012-07-12?dist=afterbell | |||||||
| For today’s Closing Market Report click to listen-> | https://beaconrwa.com/audio/Closing-Market-Report.mp3 | ||||||
| Short Link> | |||||||