If there is one bank CEO who can still complain without having to endless apologize after the banking crisis, it is Jamie Dimon of J.P. Morgan Chase & Co. Today he took…
Jon C. Ogg The federal government and the governments of 49 of the 50 states (Oklahoma is the exception) have agreed to a $26 billion settlement package with 5 big banks over the banks’ mortgage…
As one set of government suits against America’s largest banks is settled, another is about to begin. Media reports say that federal regulators and state attorneys general have set a $25 billion…
According to The Wall Street Journal, one of the longest running disputes between the government and financial industry connected to the housing boom collapse may be settled. The scandal of botched foreclosures…
The total cost to the five largest US banks of faulty mortgages and foreclosures now totals some $72 billion according to Bloomberg News. Bank of America Corp. (NYSE: BAC) gets over half…
While not breaking news at this point, there is something that is front and center in banking when it comes to overdraft fees. To many consumers, overdraft fees are simply nothing more…
Of 319 banks and thrifts reporting fourth-quarter earnings as of February 1st, just 45% posted a sequential earnings increase. For the full-year, however, 71% of the reporting institutions posted a rise in…
US banks have finally figured out that it costs them less to simply take a loss on an underwater home mortgage rather than try to foreclose. Banks are even paying for the…
Government officials at both the federal and state levels expect to see an agreement soon on the penalty payments being negotiated with five big mortgage lenders over foreclosure practices. The governments are…
Any time you have a shareholder talking up a company, you have to understand that they are talking up their book. Billionaires do this, and they tend to be listened to more…
Updated throughout the day on 24/7 Wall St. Wire. A $25 billion settlement between the federal government and state attorneys general on one side and five banks on the other over mortgage…
Time has finally run out for Greece. The European Union, European Central Bank and International Monetary Fund have said they are tired of waiting to see if Greece can cut is budget again.…
General Motors (NYSE: GM) will target a 10% profit margin over the next several years. (Reuters) Glencore offers an 8% deal to close a buyout of Xstrata. (Reuters) HTC has trouble demonstrating that…
The state of New York has filed a lawsuit in the state’s Supreme Court charging Bank of America Corp. (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC), and JPMorgan Chase & Co.…
Over the last ten years, the US Securities and Exchange Commission (SEC) has offered nearly 350 waivers to the country’s biggest banks in cases when the banks might be punished for fraud,…
