The hits just keep on coming for Wells Fargo, who now is facing questions about its failure to prime the market for news of its $185 million SEC settlement earlier this month. The main concern with that tack is that Wells may have been required to disclose the investigation and settlement to investors much earlier – NYTimes
CEO John Stumpf is likely to face questions about his disclosure obligations when he appears before the Senate Banking Committee today, in which he’s expected to say he’s “deeply sorry” and that he takes “full responsibility” for the scandal – NYTimes and WSJ and Bloomberg and Law360
Some of that heat is sure to focus on ex-head of retail operations, Carrie Toldstedt, as well (though she won’t be in the room) – WSJ
Elon Musk’s controversial plan to consolidate his Tesla and SolarCity ventures—a $2.3 billion merger—is likely to face delays thanks to a handful of lawsuits filed in past weeks alleging a failure of board members to carry out their financial duties and unjust enrichment for insiders – WSJ
The results are in and the challenger’s unseated the incumbent in Finra’s board race. Read on to learn all about Bob Muh here – WSJ
Abbott Labs is ditching its eye surgery unit (for $4.3 billion to J&J), a move seen as helping ease its “looming” acquisitions of Alere and St. Jude Medical – NYTimes
Streetwise laments the FEAR (of regulations, of taking risks, of global volatility) that’s keeping banks from snapping up easy money – WSJ
There’s some pretty spectacular stuff about FDR in this review of a book about his last months—VP intrigue, mind-boggling health concerns, and oh, that charm – NYReview