Prudential Financial Inc., facing regulatory scrutiny and lawsuits over a sales relationship with Wells Fargo & Co., said it may press its partner to cover costs after halting the offering — another sign the bank has yet to contain the full fallout of its bogus-account scandal. Prudential “has provided notice to Wells Fargo that it may seek indemnification,” the Newark, New Jersey-based insurer said in a Feb. 17 regulatory filing, referring to their agreement to sell MyTerm life coverage to Wells Fargo customers.
Category: Prudential Financial
Big Batteries Coming of Age Prompt Bankers to Place Their Bets
The idea that giant batteries may someday revolutionize electrical grids has long enthralled clean-power advocates and environmentalists. Now it’s attracting bankers with the money to make it happen.
Trump’s Tax Talk Drives Wall St to Record High
U.S. stocks hit record highs for the second day on Friday as investors remained upbeat about a tax reform plan that President Donald Trump vowed to unveil in the coming weeks. Trump’s promise of a “phenomenal” tax plan helped reignite a post-election rally, which had stalled in recent weeks on concerns over his protectionist stand and the lack of clarity on policy reforms.