CHARLOTTE, N.C. – (AP) Wachovia Corp., the nation's fourth-largest bank, said Monday its securities unit and affiliates have received inquiries and subpoenas from federal and state regulators over auction-rate securities.
The Charlotte-based bank also trimmed a write-down related to an insurance portfolio by $1 million, reducing its total loss in the first-quarter to $707 million. Full version (available to lexis.com subscribers)