Cuts: Deutsche Bank is preparing more U.S. cuts but will maintain its Wall Street presence. HSBC will close its private bank in Monaco. The Wall Street Journal is offering a buyout package to all news employees worldwide and hopes to reduce staffing levels by about one sixth by next month.
Wells Fargo has lost its Better Business Bureau accreditation, the result of the bank’s $5 million ghost-account fraud against consumers and a surge in complaints in recent years. Meanwhile, the California attorney general is looking into allegations that the bank forged customer signatures.