Federal Reserve

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’

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 ...
NationalMortgageSettlement.com

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 ...
Housing and Urban Development (HUD) Secretary Shaun Donovan (left) and Attorney General Eric Holder.

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

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 ...
Retirement investing

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 ...
President Obama and CFPB Director Richard Cordray

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 ...
Federal Deposit Insurance Corp.

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 ...
Warren Buffett

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 ...
bankloans

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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