Rising rates, in addition to tighter underwriting and fast-rising home prices, have pushed borrowers away from larger lenders.» Read More
NEW YORK, Dec 6- General Electric Co has agreed to pay as much as $18.25 million to settle a class action lawsuit accusing it of rigging bids for municipal securities, court papers filed on Friday show.
Dec 5- The city of Los Angeles has filed a lawsuit against Citigroup and Wells Fargo, seeking damages for a loss in tax revenue due to discriminatory mortgage lending to the city's minority communities, a court filing showed.
NEW YORK, Dec 4- The 2014 compensation plan that Merrill Lynch introduced on Wednesday rewards brokers who work in teams and pays them a premium for attracting money from wealthy clients that is put into trusts.
WASHINGTON, Dec 4- A U.S. lawmaker critical of Wall Street is pushing the nation's six largest banks to voluntarily disclose their donations to think tanks, saying that not doing so threatens the credibility and research of these policy groups.
NEW YORK, Dec 4- A recovering economy and cheaper prices at the pump have boosted U.S. gasoline demand in recent months, following five years of decline, a change that some experts say could continue into 2014.. Pump prices on Thursday's Thanksgiving holiday were the lowest in three years, the Energy Information Administration said last week.
ATLANTA-- Aaron's plans to buy back $125 million of its common stock under an accelerated repurchase program. It is scheduled to pay $125 million to Wells Fargo on Wednesday for about 3.5 million shares. Aaron's Inc. said it had about 76.3 million outstanding shares as of Oct. 25.
WASHINGTON-- All 50 states and the District of Columbia have more lax financial disclosure rules for their high court justices than the disclosure requirements for federal judges, according to an analysis from a watchdog group.
NEW YORK, Dec 4- Just a few years ago, Morgan Stanley lacked the expertise, infrastructure or desire to do a lot of lending, but today it is making a big push into loans to bridge a profit gap with rivals.
NEW YORK, Dec 3- Wal-Mart Stores Inc is sticking with Bank of America's Merrill Lynch unit to run its 401 program with $18 billion in assets, Wal-Mart confirmed on Tuesday. The average Wal-Mart employee has about $18,000 in their retirement account, according to BrightScope, which tracks and rates retirement plans.
TORONTO, Dec 3- U.S. retailers looking north in their quest for growth should consider the frosty reception Canada has so far given trendy discounter Target Corp a cautionary tale: what looks like a simple border crossing can easily go wrong.
BOSTON/ WASHINGTON Dec 3- Are proxy advisory firms giving mutual funds too much help with their homework? That question is due for airing at a event in Washington on Thursday focused on the role of proxy advisers like Institutional Shareholder Services and Glass, Lewis& Co. that help funds decide how to vote at corporate annual meetings.
NEW YORK, Dec 2- Wells Fargo& Co said Monday that a U.S. government request to add one of its executives as a defendant in a fraud case may be in retaliation for the bank's decision to cut off settlement talks.
To compete with each other and powerhouse Amazon.com Inc, many U.S. retailers began offering some of the season's best online deals, which were traditionally reserved for the Monday after Thanksgiving, several days ago.
NEW YORK-- Old National Bancorp said Friday it will buy the insurance accounts serviced by the Evansville, Ind., branch of Wells Fargo Insurance. The Wells Fargo branch primarily serves commercial property and casualty accounts, and it will become part of the Old National Insurance unit. Shares of Old National Bancorp closed at $15.55 Friday.
A report has raised the once-unthinkable possibility that banks could start charging customers for deposits. USA Today reports.
The fallout from the subprime mortgage crisis continues to plague U.S. banks, according to Standard and Poor's.
The use of eminent domain to halt foreclosures is still only a threat, and rather than helping the housing market, it may cause damage.
U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble.
Nov 26- U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country's biggest banks. More than $221 billion of these loans at the largest banks will hit this mark over the next four years, about 40 percent of the home equity lines of credit now outstanding.
Chen, brought in as interim CEO earlier this month after the company dropped a plan to sell itself, said BlackBerry is setting its marketing sights on corporations, governments and the big clients that were at the root of its early success. BlackBerry named James Yersh to replace Brian Bidulka as CFO.