Financials End the Day Nearly Flat -- Financials Roundup
Shares of banks, lenders and other financial institutions were nearly flat on the day. The Federal Deposit Insurance Corp. said it reached a $335 million settlement with PricewaterhouseCoopers related to its audits of Colonial Bank, a financial institution that failed in 2009. In 2012, the FDIC sued PwC and Crowe Horwath LLP for more than $1 billion for failing to catch fraud that led to the failure of Colonial Bank, one of the largest bank collapses during the financial crisis. UBS Group said that its core sustainable assets rose 72% to $313 billion in 2018 from $182 billion in 2017, despite a decline in the Swiss bank's total invested assets.
-Amy Pessetto, email@example.com