Citigroup

Citigroup to Pay $158.3M for ‘Reckless’ Mortgage Practices

Citigroup has agreed to pay $158.3 million to settle civil fraud charges that its CitiMortgage unit falsely endorsed nearly 30,000 mortgages for Federal Housing Administration insurance. These mortgages contained ...
Foreclosures

Limiting Immunity for Banks Key in Foreclosure ‘Robo’ Deal

This coming week may finally see a settlement – as high as $25 billion – between states and the nation’s top lenders over improperly processed foreclosures by hired “robo-signers.” In the final stretch, ...
Foreclosure sales

Foreclosure Sales Rate 4 Times Faster in Non-Judicial States

The foreclosure crisis is very much a tale of two states – judicial versus non-judicial. In the 23 states were a judge has the final say, the foreclosure pipeline has stalled, compared to the 27 states with a ...
Housing and Urban Development Secretary Shaun Donovan

U.S., Big Banks Close to Settling ‘Robo-Signing’ Foreclosure Mess

A long-anticipated settlement between major banks and the federal government over “robo-signing” – or fraudulent foreclosure documentation – is very close, according to Housing Secretary Shaun Donovan. In ...
Citigroup

Credit Customers Boost Citigroup, But Profit Drops 11%

Citigroup’s loan business improved in the fourth quarter as consumers did a better job of paying down their credit card balances, but the nation’s third largest bank by assets was hurt by investments and missed ...
Chase, Citi credit cards

Chase, Citi and Capital One Vie for Sign-Ups to $100 ‘Cash Back Bonus’

You’ve probably already seen the promotion in your e-mail inbox, your actual mailbox or on countless website ads: A $100 “cash back bonus” if you sign up for a credit card. Three of the biggest card issuers ...
Credit Card Rates Decline After Two-Week Uptrend

Balance Transfer Day: Be Careful With This Credit Card Strategy

The latest anti-big bank crusade is called Balance Transfer Day and urges consumers to ditch high-interest credit cards and move into promotional zero-percent cards from smaller institutions. The Facebook page for ...
U.S. District Judge Jed S. Rakoff

‘Truth’ Seeking Judge Chides SEC in Rejecting Citigroup Deal

It is as though a fed-up federal judge took the Securities Exchange Commission to the woodshed, with Citigroup in tow, and unleashed some punishment in the form of impassioned language. In a sharply worded order ...
Bank of America

Good Customers Boost Bank of America, Citibank – So Why New Fees?

The formerly bailed-out big banks already had an image problem, along with the ire of the Occupy Wall Street movement, before October came along and the wrath of consumers escalated further. In rapid succession ...

HUD Chief Makes Case Against Foreclosure Moratorium

Shaun Donovan, U.S. Secretary of Housing and Urban Development, is taking center stage in the Obama Administration’s case against a nationwide foreclosure moratorium in the wake of the multiple investigations ...
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