| Mar 31, 2014
| 12:33 PM
The Olympiad of officials and institutions reaching out to the public via social media and not hearing what they expected has a new champion: Sen. Ted Cruz (R-Texas).
Back on March 24, Cruz posted an informal survey on his verified senatorial Facebook...
| Mar 26, 2014
| 6:14 PM
Putting to rest one of its biggest remaining headaches, Bank of America Corp. has agreed to pay $9.5 billion to settle claims by Fannie Mae and Freddie Mac.
The government-sponsored mortgage finance giants had demanded compensation from the Charlotte,...
| Mar 26, 2014
| 1:39 PM
WASHINGTON -- The Federal Reserve said Wednesday it rejected plans by Citigroup Inc. and four other large U.S. banks for dividend payments and stock buybacks after annual stress tests.
Those tests raised questions about weaknesses in the risk-planning...
| Mar 24, 2014
| 8:35 AM
Mortgage-related firings totaled nearly 22,000 in the fourth quarter of 2013, the highest level in six years, according to a tally by Mortgage Daily.
The trade publication reported Monday that it counted about 3,000 new jobs added to the home lending...
| Mar 20, 2014
| 1:30 PM
WASHINGTON -- Only one of the nation's 30 largest banks would not be able to withstand a severe recession and the firms collectively are in better financial position to handle economic shocks than five years ago, according to Federal Reserve stress test...
| Mar 18, 2014
| 2:08 PM
Five huge lenders that signed a landmark 2012 settlement over foreclosure abuses have completed their obligation to provide billions of dollars in relief to troubled borrowers, according to the former bank regulator assigned to monitor their compliance....
| Mar 18, 2014
| 9:09 AM
Hertz Corp. said it will spin off its equipment-leasing unit into a separate publicly traded company, a move that will allow it to concentrate on renting cars.
The two new companies will be Hertz, which operates the Hertz, Dollar and Thrifty car...
| Mar 10, 2014
| 10:54 AM
New York's banking regulator, Benjamin Lawsky, has ticked off the financial sector and even his fellow regulators by being, well, zealous in his job. Now he's taking aim at one of the most cherished practices in the regulatory biz: disciplining...
| Feb 27, 2014
| 4:18 PM
Wells Fargo & Co. is slicing an additional 700 jobs from its mortgage operations, bringing staff reductions to about 7,000 -- nearly 12% of its home-lending workforce -- since last year, when rising interest rates ended a refinance boom.
| Feb 25, 2014
| 8:33 AM
JPMorgan Chase & Co. announced plans Tuesday to cut 8,000 positions, more than previously forecast, as fewer Americans refinance their mortgages because of rising interest rates.
The cuts will hit its mortgage and retail banking businesses, according to...
| Jan 24, 2014
| 9:10 PM
WASHINGTON — Atty. Gen. Eric H. Holder Jr., warning that no bank is "too big to indict," said the Justice Department will be bringing more cases involving "significant financial institutions" as it continues to investigate Wall Street misconduct....