U.S. wholesale prices rise
by most in more than a year
Wholesale prices in the U.S. rose in April by the most in more than a year,
reflecting broad-based gains that signal that the threat of deflation is ebbing
as the economy improves. The 0.6 percent increase in the producer price
index was the biggest since September 2012 and exceeded all estimates in a
Bloomberg survey of 69 economists, figures from the Labor Department showed
Wells Fargo shuns peers'
settlement in mortgage wrongdoing
Just six months after it paid $5 billion to settle fraud allegations by the
Federal Housing Administration, Wells Fargo & Co. is expected to be in
court today contesting another Justice Department lawsuit over alleged mortgage
wrongdoing that included botched foreclosures.
Sallie Mae to pay fine
over loans to troops
New York Times: Sallie Mae, the giant student lender, and Navient,
previously a loan servicing unit of Sallie Mae, have agreed to pay $97 million
to settle allegations by federal regulators that military service members were
charged excessive interest and fees on student loans. The Justice Department
said Tuesday that beginning in 2005, the companies failed to cap interest on
loans to military personnel at 6 percent - a ceiling they are entitled to as
part of the Servicemembers Civil Relief Act.