In a Wednesday securities filing, Wells Fargo & Co. (NYSE:WFC) said that United States regulators have dismissed their investigation into the firm’s mortgage securities offerings. The Securities and Exchange Commission advised the bank on November 20th that it closed its inquiry and does not intend to recommend an enforcement action. The Commission has been generating such cases which involve mortgage securities linked with the financial crisis, including entering into $417 million in resolutions thus far in November with Credit Suisse Group (NYSE:CS) and JPMorgan Chase & Co.
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Mitsubishi UFJ Financial Group (NYSE:MTU) is reportedly in discussions to purchase a 49 percent interest in Bank of America Merrill Lynch (NYSE:BAC) out of a private banking joint venture, according to knowledgeable sources Thursday, who added that an official notice on such a deal, which could add up to approximately ¥40 billion, or $488 million, might be released in December. Such an acquisition could be highly beneficial to the buyer, the largest bank in Japan by assets, and also might boost coordination with its partner Morgan Stanley (NYSE:MS) in future asset management and private banking projects.
Don’t Miss: Here’s How Wells Fargo Avoided JPMorgan’s Fate.