Daily Archives: May 23, 2013

Link

Wells Fargo Employee Accused Of Stealing $10K From 90-Year-Old Customer

Wells Fargo Employee Accused Of Stealing $10K From 90-Year-Old Customer

A personal banker at a Wells Fargo branch in Atlanta has been arrested and charged with felony theft for allegedly tricking an elderly customer into giving him more than $10,000. And she may not be the only victim.

 

The Atlanta Journal-Constitution reports that the Wells employee befriended the 90-year-old customer. He later called her and asked her to come into the branch to sign a transfer document that would move $10,600 from her checking account into savings.

Problem is, the form she signed wasn’t a transfer document, but a withdrawal slip.

Police say the former Wells worker then used the slip to take the cash out of the woman’s account and deposit it into his own.

Link

Fidelity National Financial, Thomas H. Lee, in Talks to Acquire Lender Processing Services

Fidelity National Financial, Thomas H. Lee, in Talks to Acquire Lender Processing Services

Title insurer Fidelity National Financial Inc. FNF -4.43% and buyout shop Thomas H. Lee Partners are in advanced talks to acquire Lender Processing Services Inc. LPS -3.16% for about $2.9 billion, according to people familiar with the matter.

The deal would bring Lender Processing Services, which provides services to mortgage lenders, back under the umbrella of Fidelity National Financial, its one-time parent.

Under the terms being discussed, the buyers would pay with a mix of cash and Fidelity National Financial stock, these people said. The deal would value Lender Processing Services shares around $33, some of the people said.

Lender Processing Services shares closed down 3.2%, or about 95 cents, to $29.11 on Wednesday. The stock is up about 21% on the year, with most of the climb coming in the last month. Fidelity National Financial has a market capitalization of about $5.6 billion, while Lender Processing Services is worth about $2.5 billion.

A deal could be announced as soon as early next week, they said.