By Jonathan Stempel 47 minutes ago NEW YORK (Reuters) - Wachovia Corp (WB.N), the fourth-largest U.S. bank, said on Monday it expected to eliminate 11,350 jobs, more than it previously disclosed, as conditions deteriorate in the housing market.Separately, Wachovia said the U.S. Securities and Exchange Commission may recommend civil charges against its main banking unit in connection with municipal derivatives transactions. It also said various state attorneys general have issued subpoenas over that matter.
The bank said it was cooperating with the probes.
Read More