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  • Wells Fargo reaches $110 million class action settlement over fake accounts

    The fallout from Wells Fargo's fake account fiasco is far from over, as the bank announced late Tuesday that it reached a $110 million settlement in a class action lawsuit brought on behalf of the bank’s customers who had a fake account opened in their name. Click the headline to read more about the settlement.

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Budget deficit drops: Treasury

The U.S. government posted a budget deficit of $203.5 billion in February, a 12% drop from the deficit reported a year earlier, according to the Treasury

The further narrowing of the gap between spending and revenue last month indicates the deficit is on track to improve this year, the Treasury suggested. 

The improvement in February resulted from a 19% increase in revenue from last year.

For the five-month period stretching from November to February, the U.S. ran a deficit of $494 billion, down $87 billion from a year earlier.

 

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