By Elaine Donnelly
Extending sexual misconduct to combat units
The U.S. banking industry suffered two big hits Monday stemming from the collapse of the housing bubble, with 10 banks and mortgage lenders agreeing to pay $8.5 billion in a settlement with federal regulators, while Charlotte, N.C.-based Bank of America agreed to a separate settlement with Fannie Mae over bad housing loans that its controversial lending subsidiary sold to the federal housing finance giant.
How much drama can take place in boardrooms and on intra-agency phone conferences? Sheila Bair aims to find out in her financial-crisis memoir, "Bull by the Horns: Fighting to Save Main Street From Wall Street and Wall Street From Itself."
The Obama administration's consumer watchdog agency flexed its enforcement muscles for the first time Wednesday and ordered Capital One Bank to repay millions of credit card customers allegedly tricked into buying costly add-on services.
About 4 million homeowners who may have been improperly foreclosed upon in 2009 and 2010 are getting an opportunity to have their cases reviewed. Whether they will be reimbursed is up to the same lenders who are accused of moving too swiftly to seize their homes.
For all of the recent publicity about the Dodd-Frank legislation, one of its regulatory initiatives is seriously underreported; namely, the Commodity Futures Trading Commission's (CFTC) hugely expensive plan to regulate not merely the kind of derivatives that brought down AIG but also the common, garden variety hedges used by energy users, farmers, home builders and others that pose no "systemic risk" to anyone.
Federal regulators will be able to take back two years of pay from executives held responsible for a large bank's failure.
China, the biggest buyer of U.S. Treasury debt, boosted its holdings in April, the first increase after five straight declines.
The federal government on Wednesday ordered 16 of the nation's largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon.
The federal government on Wednesday ordered 16 of the nation's largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon.
Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents.
Federal regulators have taken a first step toward eliminating the use of credit ratings in rules for banks, under a mandate of the new financial- overhaul law.
A top banking regulator says he will leave office when his term expires next month.
Federal regulators on Monday adopted a plan to ensure that banks' pay policies don't encourage employees to take reckless gambles like those that contributed to the recent financial crisis.
Federal regulators on Monday adopted a plan to ensure that salaries for bank executives don't encourage employees to take reckless gambles like those that contributed to the recent financial crisis.
