Ex-Workers: BofA Lied, Rewarded Foreclosures with Gift Cards by Reuters Jun 16th 2013 6:00PM Six former Bank of America employees have alleged that the bank deliberately denied eligible home owners loan modifications and lied about mortgage payments and documents.
Cybercriminals Hacked 15 Financial Firms for $15 Million by Eamon Murphy Jun 14th 2013 12:55PM A group of hackers and identity thieves illegally obtained log-in credentials for customers of 15 financial firms and payment services, stealing millions, authorities say.
The Flashy Vault Where Deutsche Bank Will Store $9 Billion of Gold by Quartz Jun 10th 2013 1:12PM Deutsche Bank, one of the world's largest dealers of gold, has begun storing bullion in the Singapore FreePort, a flashy facility that's part bunker, part gallery.
Jobs Report Sparks Big Rally; Walmart Holds Its Own Rally by DailyFinance Staff Jun 7th 2013 4:30PM Walmart gave itself a vote of confidence, and the monthly jobs report kicked off a Friday rally on Wall Street. The Dow gained 207 points, its second-biggest advance of 2013.
Regulators: Source of Next Financial Crisis May Not be Banks by Rich Smith Jun 5th 2013 5:00AM Earlier this week the Financial Stability Oversight Council proposed tighter regulations for "nonbank financial institutions." What does that mean for consumers?
Why Regulators May Be Eyeing Your Insurer Like a Bank by The Associated Press Jun 4th 2013 6:42AM Federal regulators have proposed that a group of firms that aren't banks be deemed potential threats to the financial system that need stricter government oversight.
Bank of America Heads to Court Over $8.5 Billion Settlement by Reuters Jun 3rd 2013 6:50AM A long-running fight comes to a head when court proceedings begin over an $8.5 billion settlement between Bank of America and investors in soured mortgage securities.
Checking Account Check-Up: How Does Your Bank Rank? by CNNMoney May 31st 2013 1:00PM When it comes to checking accounts, all banks are not created equal -- but which one has the best policies for you? The Pew Charitable Trusts has some answers.
Why Are These CEOs So Overpaid? by Eamon Murphy May 30th 2013 4:45PM The staggering growth of CEO pay might have something to do with executives' control over their own compensation. These are the chairmen/CEOs enjoying the biggest paydays.
Sales of Bank-Owned Homes Plunge to 5-Year Low in 1Q by The Associated Press May 30th 2013 6:09AM Sales of bank-owned homes have plunged to a 5-year low, the latest evidence that the nation's foreclosure woes are easing as the U.S. housing market recovery gains momentum.
New Rule on Goldman Sachs Bonuses: Don't Embarrass the Firm by Eamon Murphy May 28th 2013 3:49PM Goldman Sachs employees earn stellar bonuses, even by Wall Street's standards. But now, bonuses will be tied to more than earnings; they'll also be tied to avoiding bad PR.
Will the Bank's Word Be Law? Citi Drafts Reform Rollback Bills by Eamon Murphy May 24th 2013 6:30PM Big banks seeking to roll back financial reform have returned to lawmakers' good graces -- not just Republicans who always opposed the regulations, but many Democrats, too.
The Highest-Paid CEOs in Banking by CNNMoney May 23rd 2013 4:14PM J.P. Morgan Chase's Jamie Dimon made $18.7 million last year, putting him fourth on the list of highest-paid chiefs in banking. Which CEOs made even more?
JPMorgan Chase CEO Jamie Dimon Retains Chairmanship by Eamon Murphy May 21st 2013 12:46PM Jamie Dimon has maintained his dual role at JPMorgan Chase, after shareholders at the firm's annual meeting voted down a proposal to split the positions of CEO and chairman.
What if JPMorgan Investors Win? by Reuters May 21st 2013 6:12AM As final ballots come in on a proposal to strip JPMorgan Chairman and CEO Jamie Dimon of his chairman title, some worry about what will happen if shareholders win.
Why Your Facebook Account Is More Secure Than Your Bank Account by Matt Brownell May 20th 2013 5:00AM Facebook and Google use an extra line of defense to keep intruders out of your account. Why don't banks do the same?
London Therapist for Disheartened Bankers Tells Their Tales of Woe by Eamon Murphy May 17th 2013 6:20PM A life coach to the bankers of London describes the embarrassment and misery many of her clients feel in their jobs post-financial crisis. But don't bash them, she warns.
Jamie Dimon to JPMorgan: You Need Me More Than I Need You by DailyFinance Staff May 13th 2013 9:25AM The Wall Street Journal reports JPMorgan CEO and Chairman Jamie Dimon has threatened to leave the company if shareholders vote the split up his two positions.
Dimon May Leave JPMorgan If Stripped of Chairmanship by Reuters May 13th 2013 7:53AM JPMorgan Chase Chairman and CEO Jamie Dimon said he may consider leaving the bank where he has held the top post since 2005, if shareholders vote to split his duties.
JPMorgan Sued by California Over Credit Card Robosigning by DailyFinance Staff May 10th 2013 9:16AM JPMorgan Chase has been sued by the state of California for allegedly using robo-signing and other illegal practices to collect debts from 100,000 credit card holders.
Court: U.S. Can Pursue Case Against BofA Over Mortgages by Reuters May 8th 2013 3:35PM A federal judge rules that the U.S. can pursue parts of a civil lawsuit against Bank of America for its sale of toxic mortgages to Fannie Mae and Freddie Mac.
BofA, MBIA Reach Settlement in Mortgage Dispute by Reuters May 6th 2013 3:00PM Bank of America agrees to pay MBIA $1.6 billion to settle a dispute over soured mortgage securities issued during the U.S. housing boom.
JPMorgan Faces Federal Probe Over Energy Trading 'Schemes' by Eamon Murphy May 3rd 2013 11:35AM The latest federal inquiry to focus on JPMorgan Chase bears uncomfortable similarities to one of the most notorious chapters in U.S. business history: the Enron scandal.
JPMorgan Facing Multiple Federal Investigations by DailyFinance Staff May 3rd 2013 9:15AM At least eight federal agencies are reportedly investigating JPMorgan Chase for a broad variety of misdeeds, from improper debt collection to staying quiet on Bernie Madoff.
Pope Hints at Changes to Scandal-Ridden Vatican Bank by Reuters Apr 25th 2013 11:03AM Pope Francis has indicated for the first time that he may make changes to the Vatican's scandal-ridden bank as part of a broad review of the Holy See's administration.
Morgan Stanley Profit Falls, But Beats Wall Street Expectations by The Associated Press Apr 18th 2013 7:55AM Morgan Stanley says profit and revenue dropped in the first quarter, though the results beat Wall Street expectations.
Bank of America to Pay $500M to Settle Investor Lawsuit by The Associated Press Apr 18th 2013 6:36AM Bank of America says it will pay $500 million to settle a class-action lawsuit involving investors who say they were misled in their purchase of mortgage-backed investments.
American Express Profit Boosted by Higher Cardmember Spending by Reuters Apr 18th 2013 6:11AM Credit card company American Express Co.'s quarterly revenue came in below analyst expectations as cardmember spending growth remained muted.
Bank of America's Quarterly Profit Soars as Revenues Sink by Reuters Apr 17th 2013 7:55AM Bank of America's profit soared in the first quarter, helped by mortgages and wealth management, but revenue fell and profits missed expectations.
Goldman Sachs Earnings Beat Analyst Estimates by The Associated Press Apr 16th 2013 12:30PM Goldman Sachs reported first-quarter results that beat analyst forecasts thanks to a pickup in stock and bond underwriting.
U.S. Regulator to Fault JPMorgan Over Madoff Accounts by Reuters Apr 16th 2013 9:15AM Regulators plan to fault JPMorgan Chase, which served as Bernie Madoff's main bank for two decades, for failing to report suspicious activity, a source says.
