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Financial Sector Update for 12/28/2018: JPM, HOPE, BAC, WFC, C, USB

Top Financial Stocks:

JPM: +0.78%

BAC: +0.82%

WFC: +0.18%

C: +0.15%

USB: -0.04%

Financial stocks were trading higher pre-bell Friday.

In sector news:

(+) JP Morgan Chase ( JPM ) was up nearly 1%. On Friday regulators announced its Hong Kong division was ordered to pay HKD12.5 million ($1.6 million) by the Hong Kong Monetary Authority for breaching anti-money laundering and counter-terrorist financing rules.

(=) Hope Bancorp ( HOPE ) was flat after it said it has devised a branch rationalization plan to enhance its operational efficiencies, adding that it will temporarily discontinue its practice of regularly selling the guaranteed portion of its SBA 7(a) loans to the secondary market.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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