Financial District, San Francisco

NOTICE TO WELLS FARGO CUSTOMERS WITH MARGIN ACCOUNTS: KlaymanToskes Commences Investigation into Damages Sustained by Investors Who were Forced to Sell Securities Due to Margin Calls

Friday, April 10, 2020 - 2:37am

KlaymanToskes (KT), www.klaymantoskes.com , announced today that it is investigating damages sustained by investors with Wells Fargo & Company (NYSE:WFC) (Wells Fargo) accounts who were forced to sell securities due to margin calls.

Key Points: 
  • KlaymanToskes (KT), www.klaymantoskes.com , announced today that it is investigating damages sustained by investors with Wells Fargo & Company (NYSE:WFC) (Wells Fargo) accounts who were forced to sell securities due to margin calls.
  • Recently, investors quickly saw the major stock indices lose significant value after closing on Friday, February 21, 2020, at near 52-week highs.
  • Many investment portfolios, like the stock indices, have also seen tremendous declines, leaving leveraged accounts especially at risk of margin calls.
  • Therefore, Wells Fargo and its financial advisors are required to disclose to investors the risks of the use of margin.

Numerous Voices Express Continued Support for PG&E’s Settlement with Wildfire Victims and its Plan of Reorganization

Thursday, April 9, 2020 - 1:39pm

PG&E Corporation and Pacific Gas and Electric Company (together, PG&E) today shared the following statements of continued support for its settlement agreement with wildfire victims and the companys Plan of Reorganization (the Plan).

Key Points: 
  • PG&E Corporation and Pacific Gas and Electric Company (together, PG&E) today shared the following statements of continued support for its settlement agreement with wildfire victims and the companys Plan of Reorganization (the Plan).
  • The demonstrations of support for the settlement with wildfire victims and PG&Es Plan of Reorganization include:
    Since PG&E settled with victims, the company has won broad support for its plan of reorganization, including from the Governor.
  • Now all thats standing between victims and the payment theyve waited so long for is approval of the plan.
  • Withholding support for the plan of reorganization would only delay payments even further, and I urge victims to support the settlement and the plan, said Joseph Earley, fire victim and attorney representing 11,000 other victims.

Wells Fargo to Expand Participation in the Paycheck Protection Program (PPP)

Wednesday, April 8, 2020 - 5:44pm

While the asset cap does not specifically restrict Wells Fargos participation in this program, this action by the Federal Reserve will enable Wells Fargo to provide additional relief for our customers and communities, said Wells Fargo CEO Charlie Scharf.

Key Points: 
  • While the asset cap does not specifically restrict Wells Fargos participation in this program, this action by the Federal Reserve will enable Wells Fargo to provide additional relief for our customers and communities, said Wells Fargo CEO Charlie Scharf.
  • To start the process for PPP with Wells Fargo, customers must meet the overall Small Business Administration program requirements, have a Wells Fargo Business checking account as of Feb. 15, 2020, and be enrolled in business online banking.
  • Given the public discussion, Wells Fargo thinks it is important that we reiterate our position on the asset cap.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .

Wells Fargo Announces First Quarter 2020 Earnings Information

Tuesday, April 7, 2020 - 8:34pm

Wells Fargo & Company (NYSE: WFC), as previously announced, will report its first quarter 2020 earnings results on Tuesday, April 14, 2020, at approximately 5 a.m. PT (8 a.m.

Key Points: 
  • Wells Fargo & Company (NYSE: WFC), as previously announced, will report its first quarter 2020 earnings results on Tuesday, April 14, 2020, at approximately 5 a.m. PT (8 a.m.
  • The Company will host a live conference call on Tuesday, April 14, at 7 a.m. PT (10 a.m.
  • Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets.
  • With approximately 260,000 team members, Wells Fargo serves one in three households in the United States.

PAX Technology and Sound Payments Recognized for Providing an Optimal Tap to Pay Point of Sale Experience

Monday, April 6, 2020 - 3:00pm

Qualified Tap to Pay Point of Sale Program recognizes point of sale providers ready and equipped to provide a consistent and improved tap to pay checkout experience.

Key Points: 
  • Qualified Tap to Pay Point of Sale Program recognizes point of sale providers ready and equipped to provide a consistent and improved tap to pay checkout experience.
  • PAX and Sound Payments' Tap to Pay Point of Sale solution showcases the PAX IM20 and Aries8 retrofitted in a gas pump and demonstrates the software providing the tap experience followed by a transaction for gas and convenience items like food and beverage.
  • "We're honored to have our combined solution with Sound Payments recognized by Visa as an optimal Tap to Pay Point of Sale Experience."
  • By following the Visa's guidelines for an optimal Tap to Pay Point of Sale experience, PAX and Sound Payments maintain the consistency required to ensure the point of sale delivers a fast, easy, and secure payment experience for customers.

Visa Foundation Commits $210 Million to Support Small and Micro Businesses and Immediate COVID-19 Emergency Relief

Monday, April 6, 2020 - 12:00pm

The second program is a five-year, strategic $200 million commitment to support small and micro businesses around the world, with a focus on fostering womens economic advancement.

Key Points: 
  • The second program is a five-year, strategic $200 million commitment to support small and micro businesses around the world, with a focus on fostering womens economic advancement.
  • This action expands the Visa Foundations long-standing support for small and micro businesses globally.
  • The funds from the Visa Foundation will provide capital to non-government organizations (NGOs) and investment partners supporting small and micro businesses.
  • The Visa Foundation will also allocate $140 million with investment partners that generate positive social and financial returns for small and micro businesses.

Wells Fargo Receives Strong Interest in the Paycheck Protection Program (PPP)

Monday, April 6, 2020 - 2:12am

Since the beginning of this health crisis, Wells Fargo has provided substantial credit and liquidity to our customers to help them weather these uncertain times.

Key Points: 
  • Since the beginning of this health crisis, Wells Fargo has provided substantial credit and liquidity to our customers to help them weather these uncertain times.
  • Therefore, we are focusing our efforts under the Paycheck Protection Program on these groups, said Wells Fargo CEO Charlie Scharf.
  • Wells Fargo will review all expressions of interest submitted by customers via our online form through April 5 and provide them with updates in the coming days.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .

United Fire Group, Inc. Enters into Credit Agreement with Wells Fargo

Thursday, April 2, 2020 - 9:01pm

CEDAR RAPIDS, Iowa, April 02, 2020 (GLOBE NEWSWIRE) -- On March 31, 2020, United Fire & Casualty Company, a wholly owned subsidiary of United Fire Group, Inc. ("UFG," the "Company"), entered into a credit agreement (the "Credit Agreement") with Wells Fargo Bank, National Association ("Wells Fargo") providing for a $50 million unsecured revolving credit facility with the opportunity to expand the line by an additional $100 million.

Key Points: 
  • CEDAR RAPIDS, Iowa, April 02, 2020 (GLOBE NEWSWIRE) -- On March 31, 2020, United Fire & Casualty Company, a wholly owned subsidiary of United Fire Group, Inc. ("UFG," the "Company"), entered into a credit agreement (the "Credit Agreement") with Wells Fargo Bank, National Association ("Wells Fargo") providing for a $50 million unsecured revolving credit facility with the opportunity to expand the line by an additional $100 million.
  • The new credit agreement also includes a $20 million letter of credit sub-facility and a $5 million swingline loan facility.
  • The Credit Agreement replaces the Company's former four year unsecured revolving credit facility that expired in February 2020.
  • For more information on the new Credit Agreement, refer to the filed Form 8-K dated April 2, 2020 on the Company's website at www.ufginsurance.com.

Insmed Appoints Carol A. Schafer to its Board of Directors

Thursday, April 2, 2020 - 1:00pm

BRIDGEWATER, N.J., April 2, 2020 /PRNewswire/ -- Insmed Incorporated (Nasdaq:INSM), a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases, today announced the appointment of Carol A. Schafer to its Board of Directors.

Key Points: 
  • BRIDGEWATER, N.J., April 2, 2020 /PRNewswire/ -- Insmed Incorporated (Nasdaq:INSM), a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases, today announced the appointment of Carol A. Schafer to its Board of Directors.
  • "We are thrilled to welcome Carol to our Board of Directors," said Will Lewis, Chairman and CEO of Insmed.
  • "I look forward to working with fellow Board members and the Insmed management team to champion the rare disease community and bring much-needed therapies to patients."
  • Prior to Hyphen Advisors, Ms. Schafer worked at Wells Fargo Securities, most recently serving as Vice Chair, Equity Capital Markets.

Wells Fargo Utilities and High Income Fund Announces Sources of Distribution

Wednesday, April 1, 2020 - 10:03pm

The quoted distribution rate is a figure that uses the funds previous distribution to calculate an annualized figure.

Key Points: 
  • The quoted distribution rate is a figure that uses the funds previous distribution to calculate an annualized figure.
  • The distribution rate is calculated by annualizing the last distribution and then dividing by the period-ending NAV or market price.
  • The Wells Fargo Utilities and High Income Fund is a closed-end equity and high-yield bond fund.
  • Wells Fargo Asset Management (WFAM) is the trade name for certain investment advisory/management firms owned by Wells Fargo & Company.