Finance & Mortgage

CCB : China's Largest Mortgage Lender Posts Higher Q4 Profit, Loan Quality Worsens

China Construction Bank <0939.HK><601939.SS>, the world's No.2 lender valued at $193 billion, joined smaller rival AgBank <1288.HK> in reporting earnings lower than the market had expected as China's slowing growth squeezes its top lenders.

Wells Fargo Scoffs At Subpoenas In $60B Fraud Probe: SEC

In conducting an investigation of possible fraud in relation to Wells Fargo & Co.'s sale of almost $60 billion in residential mortgage-backed securities, the U.S. Securities and Exchange Commission on Friday requested that a federal court order the country's largest mortgage lender to comply with its subpoenas.

SEC Takes Wells Fargo to Court to Enforce Subpoenas

U.S. securities regulators accused Wells Fargo & Co on Friday of repeatedly ignoring its subpoenas for documents in connection with a probe into the bank's $60 billion sale of mortgage-backed securities.