State of Prosperity: These Locations Tied to ‘Economic Mobility’
The state in which you reside may increase or diminish your chances of achieving the American Dream, according to a new study that measures where you are more likely to move up or down the earnings ladder.
The Economic ...
JPMorgan’s $2B Loss is Win for ‘Volcker Rule’ Reformers
Reform proponents who want to restrict proprietary trading by big banks were handed “Exhibit A” on a silver platter yesterday with the jolting announcement by JPMorgan Chase CEO Jaime Dimon of a $2 billion loss ...
Feds: Deutsche Bank to Pay $202M for ‘Reckless’ Lending
Deutsche Bank and its lending subsidiary will pay $202 million as part of a settlement with federal authorities over reckless lending and false claims tied to federally insured loans.
Deutsche and its Mortgageit ...
Beyond HARP: Obama Calls for Refinancing Plan for Millions
President Obama is pushing for Congress to help expand mortgage refinancing to millions of borrowers with loans not backed or owned by Fannie Mae and Freddie Mac – and those who cannot currently take advantage ...
FDIC Plan Would Preserve Solvent Units of Failing Firms
The acting chairman of the Federal Deposit Insurance Corp., the agency that protects consumers’ accounts if a bank fails, has outlined the steps the FDIC would take to unwind one or more institutions deemed ...
JPMorgan Chase Admits $2B Loss in ‘Riskier’ Trading
JPMorgan Chase, the nation’s largest bank, said today in a surprise after-market announcement that one of its trading units has lost $2 billion in recent weeks from a hedge strategy “proven to be riskier, more ...
Bernanke: Mortgage Standards ‘Limiting’ Creditworthy Borrowers
Residential mortgage lending remains tight, with some standards limiting or preventing access to loans for low-risk borrowers with good credit, Federal Reserve Chairman Ben Bernanke said today.
Residential mortgages ...
Democrats Seek Overdraft Protections Beyond Debit Cards
House Democrats have introduced a bill to crack down on overdraft fee abuse by banks beyond the current “opt-in” protection for debit card transactions.
The Overdraft Protection Act requires consumer consent ...
No 1Q Bailout: Fannie Mae Nets Post-Crisis Profit
Fannie Mae, the mortgage financing giant, won’t ask the U.S. Treasury for bailout funds to cover a quarterly shortfall for the first time since the company, and smaller “sibling” Freddie Mac, became wards ...
Wells Fargo: Feds Seek Penalties Over ‘Fair Lending’ Violations
Wells Fargo, the nation’s top mortgage lender, said Justice Department prosecutors are seeking “monetary damages and civil penalties” over possible violations of fair lending, or anti-discrimination, laws.
The ...
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