On Oct. 20, New York courts ordered attorneys for foreclosing banks to swear they'd personally confirmed that their documents are true and accurate. But a Brooklyn judge has taken things a step further. Since the banks aren't complying, he has started throwing out foreclosure cases.
The Citigroup bailout is officially over: The U.S. Treasury has sold the last of its shares of the bank. Overall, the U.S. government netted $12 billion in profit from the $45 billion bailout.
On Thursday night, venture capitalist and DailyFinance columnist Peter Cohan went on CNBC's The Kudlow Report to debate whether the banking industry is at the start of a period of recovery, as Goldman Sachs claimed this week. Here's why he argued that Goldman was dead wrong.
Bank of America, Citigroup and Wells Fargo are among U.S. banks that said in Friday regulatory filings they may incur costs defending lawsuits from investors in their mortgage-backed securities.
The state's House Democratic delegation has asked the Justice Department, the Fed and Controller of the Currency to investigate the widespread -- and growing -- problem of faulty bank documents in foreclosure cases. One agency is taking action.
Four of the top six credit card issuers reported an increase in the number of debts they they wrote off as uncollectable in August. But there were a few positive signs as well.
