U.S. wholesale prices rise by most in more than a year

Bloomberg: 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 today.


Wells Fargo shuns peers' settlement in mortgage wrongdoing

Bloomberg: 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

The 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.