Bank of America and JPMorgan Fail on Mortgage Compliance and 3 More Hot Stocks
Bank of America Corporation (NYSE:BAC): Bank of America, along with JPMorgan Chase (NYSE:JPM) and a handful of others, have dropped the ball with their compliance with the $25 billion national mortgage settlement according to Joseph Smith, who is the independent monitor appointed to oversee the process. His statements coincide with the New York Attorney General’s intentions to sue the banks over their violations.
Sarepta Therapeutics, Inc. (NASDAQ:SRPT): Shares are up for Serepta, after the company said that its eteplirsen treatment for Duchenne muscular dystrophy continues to show promise in improving the walking ability of DMD patients after 84 weeks.
MasterCard Incorporated (NYSE:MA): MasterCard and Western Union (NYSE:WU) will be joining forces to initiate a new international payment service, geared toward small and medium-sized businesses. In addition to new features, the service will offer a dedicated online foreign payments portal to help ease cross-border trade and currency exchanges. “Over 95 percent of American importers in 2011 were small and medium-sized enterprises, which demonstrates how significant they are to the American economy,” said Raj Agrawal, president, Western Union Business Solutions.