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Business
6:06 pm
Mon December 17, 2012

Duke CEO: Don't Fear The Fiscal Cliff

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Credit Julie Rose
Wells Fargo senior executive vice president David Carroll, Premier Inc CEO Susan DeVore and Duke Energy CEO Jim Rogers at the Charlotte Chamber Economic Outlook luncheon on December 17, 2012.
Credit Julie Rose
Federal Reserve Bank of Richmond President Jeffrey Lacker, Bank of America co-COO David Darnell and Nucor CEO Dan DiMicco at the Charlotte Chamber's Annual Economic Outlook luncheon.
Credit Julie Rose
Duke Energy CEO Jim Rogers says going over the "fiscal cliff" could be good for the U.S. because it will prompt leaders to make hard decisions.
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The Charlotte business community gathered Monday for a diagnostic take on the U.S. economy from the city's top industries. Executives of Bank of America, Wells Fargo, Duke Energy, Nucor and Premier health care alliance offered a grim picture of slow growth and high unemployment. 

If the U.S. economy had a life coach, every pep-talk these days would be along the lines of "Look pal, you gotta 'Fake it 'til you make it.' Confidence breeds success.  All this worry is bringing you down."

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Local News
4:49 pm
Thu December 6, 2012

Wells Fargo Banker Charged With Insider Trading

Credit David Paul Ohmer/flickr
The SEC has charged a Wells Fargo investment banker with insider trading.
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The Securities and Exchange Commission has charged an investment banker at Wells Fargo with leading an $11 million insider trading ring while he worked in Charlotte.

John Femenia had access to a lot of confidential information through his job at Wells Fargo. He’s an investment banker (or at least was), and he got the scoop on several mergers because his bank helped with the financing.

That information is as good as money. Mergers often drive a company’s stock price up, so if you buy it before that happens – you're setting up for a nice profit.

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Business
12:51 am
Tue October 2, 2012

Big Banks Now Required To Improve Service On Home Loans

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Bank of America
Credit Office of Mortgage Settlement Oversight
Joseph A. Smith, Jr. was appointed monitor of the mortgage settlement.
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Getting a mortgage modified should be significantly easier as of today - assuming five of the nation's largest lenders deliver on promises they made in a $25 billion settlement signed six months ago.

Today is the deadline for Bank of America, Wells Fargo, JP Morgan Chase, Citigroup and Ally Financial to implement hundreds of improvements to customer service for home loans.

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Business
4:53 pm
Wed September 26, 2012

Bank Websites Under Cyber Attack

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The websites of several major U.S. banks, including Wells Fargo and PNC, are under cyber attack today. Reports of trouble accessing online banking are pouring into the tracking website Sitedown.co, says founder Jeff Herdell.

"They're referred to as DDoS attacks," explains Herdell. "Hackers will take over many computers and direct floods of traffic at these bank sites in hopes that the service will be disrupted and go down temporarily. So it's more of a nuisance than anything, but it's very significant right now."

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