Fed’s Stress Tests: Citi, Ally, SunTrust, MetLife Didn’t Pass
The Federal Reserve said 15 of the 19 biggest U.S. financial institutions would be able to maintain capital levels higher than is deemed necessary in an economic scenario worse than the financial crisis of 2008.
The ...
Foreclosure Fiasco: Managers Allowed Careless ‘Robo-Signing’
For the first time since the “robo-signing” of foreclosure affidavits surfaced in 2010, audits from federal officials detail an uncontrolled environment where supervisors often joined hired hands to sign stacks ...
Lenders Face Strict Foreclosure-Relief Rules in $25B Settlement
Administration officials and state attorneys general today filed in federal court the proposed agreements with the nation’s top lenders in the $25 billion mortgage servicing settlement announced a month ago.
The ...
Delayed $25B Mortgage Settlement Nears Court Filing
More than a month after federal and state officials announced a $25 billion mortgage settlement to help wronged foreclosure victims, the deal with the nation’s top five lenders could be presented to a federal ...
Wells Fargo Expands $7 Checking Account Fee to Six States
Wells Fargo is expanding its $7 a month fee for checking accounts to six more states as it moves forward with eliminating free checking to more customers.
Wells Fargo, which has branches in 39 states, has now added ...
Wells Fargo: Investor Optimism Back Up to Year-Ago Level
U.S. investor optimism has completed a big comeback, returning to “+40” – the February 2011 level – and a significant jump from “-45” recorded in the September poll, according to the February Wells ...
Consumer Agency Accepts Complaints on Checking, Savings Fees
The U.S. Consumers Financial Protection Bureau is now accepting complaints about checking and savings accounts, including issues with excessive or unfair banking fees.
Since the agency launched last July, it has ...
Banks See 10th Straight Quarter of Profit Increases: FDIC
In the fourth quarter 2011, federally insured banks saw their 10th consecutive quarter with a year-over-year increase in profits, according to the Federal Deposit Insurance Corporation.
The banking industry is now ...
Buffett’s Stunner: Lenders were Foreclosure ‘Victims’
Billionaire Warren Buffett, who controls a big stake in Wells Fargo and has invested $5 billion in Bank of America, said that lenders were victims too in the foreclosure crisis.
That brief sentiment in a letter ...
JD Power: Big Bank Defections Up on Fees, Poor Service
The consumer backlash against big bank fees, along with poor service, has fueled increases in defection rates among customers of large, regional and midsize banks, according to the J.D. Power and Associates.
The ...




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