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FINANCE
SEC subpoenas Wall Street firms
The SEC, NYSE and NASD have subpoenaed documents from many of Wall Street's top names as the investment banking probe shifts from analysts to their bosses, sources said. Individuals from 12 banks are under investigation, including Morgan Stanley CEO Philip Purcell, Merrill Lynch research head Andrew Melnick and ex-Credit Suisse First Boston CEO Allen Wheat.
** As regulators said at the time, probes haven't ended with April's $1.4 bil research settlement.
Visa's card volume reaches $1 tril
The 12-month total through March is greater than all its rivals together, including MasterCard, American Express and Discover. Over $38 out of every $100 spent is a credit or debit charge. And $12 of those happen on a Visa card. Most are regular credit card transactions, a third are debit and prepaid cards are a fast-growing sliver.
Banks adopting "green' principles