European Central Bank (ECB) chief Mario Draghi appears to be implementing his own three-pronged plan to rescue the euro zone economy.» Read More
U.K. authorities have announced plans to hit misbehaving bankers in the pocket, and could potentially demand the repayment of seven-year-old bonuses.
The ties between Britain’s banks and its economy have always been close, but they seem to have become even tighter in the post-banking bailout era.
The FHFA filed 18 lawsuits against Goldman and other banks in 2011 over about $200 billion in mortgage-backed securities that later went sour.
NEW YORK, July 26- A deal to resolve a U.S. regulator's claims against Goldman Sachs Group Inc over mortgage-backed securities sold to Fannie Mae and Freddie Mac leading up to the financial crisis could cost the bank between $800 million and $1.25 billion, according to a person familiar with the matter.
European shares ended the day lower, as concerns about the impact of further sanctions against Russia weighed amid ongoing unrest in Ukraine.
Royal Bank of Scotland said it made a pretax profit of 1 billion pounds ($1.7 billion) in the second quarter, far better than analysts had expected.
In a somewhat tense exchange at a congressional hearing, SEC Corporation Finance Director Keith Higgins and Massachusetts Democrat Stephen Lynch went back and forth over the issue, with Higgins saying the SEC does not use waiver denials to punish wrongdoers. "The SEC needs to ensure that the American people are protected from egregious conduct...
July 23- Britain's markets regulator and a group of global banks are in talks to reach a first settlement in a currency-rigging probe, with a deal possible this year, Bloomberg reported.
China will lower its intervention in the currency market, reaching an understanding on an issue that has hurt ties between the U.S. and China for years.
Three of Malaysia's largest financial institutions are in talks to combine, which would create one of southeast Asia's biggest lenders by assets.
NEW YORK, July 7- A federal judge has limited the ability of the trustee seeking money for victims of Bernard Madoff's Ponzi scheme to recoup sums allegedly transferred fraudulently outside the United States.
WASHINGTON, July 2- An official at the U.S. Securities and Exchange Commission broke ranks with other commissioners and voted against granting BNP Paribas a waiver to continue operating several investment advisory units in the United States.
NEW YORK, July 1- HSBC Holdings Plc agreed to pay $10 million to settle U.S. government charges that it defrauded taxpayers by submitting inflated bills to process residential foreclosures.
Overregulation in the US has spooked global banks. They are now looking beyond Wall St. as a major financial hub. What's next?
European markets closed lower on Wednesday, amid concern over the violence in Iraq.
*Sterling weaker after Bank of England comments. NEW YORK, June 24- The U.S. dollar edged higher on Tuesday after stronger-than-expected U.S. housing and consumer confidence data increased expectations of a more hawkish tone from the Federal Reserve.
Scotland could become a financial hub to rival Frankfurt and also double its wealth over the next 25 years, a new report claimed.
Europe's banks are under siege from digital disruption, according to a report out on Monday.
June 19- Royal Bank of Scotland Group Plc agreed on Thursday to pay $99.5 million to resolve a U.S. regulator's claims against the bank over Freddie Mac's purchase between 2005 and 2007 of mortgage-backed securities that later went sour.
June 19- Royal Bank of Scotland Group Plc agreed on Thursday to pay $99.5 million to resolve a U.S. regulator's claims against the bank in litigation contending that Freddie Mac bought mortgage-backed securities that later went sour.