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.…
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.…
Credit card giant MasterCard Inc. (NYSE: MA) reported fourth quarter adjusted EPS of $4.03 on revenue of $1.72 billion. Consensus estimates called for EPS of $3.92 on $1.73 billion in revenue. The…
2012 is getting off to a great start for the equity markets. We recently looked at the performance of Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK.B), which is underperforming this year so…
For the first time in a long time, short sellers have increased their bets that the stock prices of most large companies and in most large sectors will fall. The NYSE and…
Just because you’re retired doesn’t mean you don’t have to work. As of the end of last year, 7.3% of Americans 75 and older were employed — the highest level since 1966,…
State and federal government officials are near a deal to settle improper foreclosure charges against a number of banks. The amount of the agreement will cause financial firms to pay about $25…
