Bloomberg California prosecutors are investigating whether Wells Fargo & Co. bankers committed criminal identity theft by creating millions of fraudulent accounts. Attorney General Kamala Harris served a search warrant on the bank seeking the names of employees who opened unauthorized accounts from May 2011 to July 2015. The warrant, provided by Harris, also demands detailed communications, the bank’s fee ...

  Bloomberg The Nordic region’s biggest foreign-currency trading bank told investors it has finished building capital buffers for now as shareholders look for clues as to how Sweden’s banks might treat excess cash. Annika Falkengren, the chief executive officer of SEB AB, said the 170 basis-point buffer the bank holds on top of the requirement set by Sweden’s regulator is ...

  Bloomberg A rewards war that’s helped U.S. credit-card customers amass points for perks or cash proved costly in the latest quarter for some of the nation’s biggest banks. That may signal fresh pain at American Express Co. Issuers have sweetened rewards, cut fees and sought to improve services to lure customers, making it tougher to grow profits. In the ...