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Diversified Financials Consumer Finance

  • WASHINGTON, May 2- Democrats in the U.S. House of Representatives opposed to Republican legislation that would repeal major sections of the Dodd-Frank financial reform law on Tuesday made multiple efforts to delay the bill. The House Financial Services Committee was due to consider Representative Jeb Hensarling's sweeping bill to rework the 2010 law.

  • WASHINGTON, May 2- Democrats in the U.S. House of Representatives opposed to Republican legislation that would repeal major sections of the Dodd-Frank financial reform law on Tuesday made multiple efforts to delay the bill. The House Financial Services Committee was due to consider Representative Jeb Hensarling's sweeping bill to rework the 2010 law.

  • TORONTO, May 1- Canadian subprime mortgage lenders raced to shore up confidence in their model on Monday as depositors pulled more money out of Home Capital Group Inc's high-interest savings accounts while another lender lined up C $2 billion in emergency funding. Canada's No. 2 listed alternative lender Equitable Group said it has taken steps to reinforce...

  • TORONTO, May 1- Canadian subprime mortgage lenders raced to shore up confidence in their model on Monday as depositors pulled more money out of Home Capital Group Inc's high-interest savings accounts while another lender lined up C $2 billion in emergency funding. Canada's No. 2 listed alternative lender Equitable Group said it has taken steps to reinforce...

  • TORONTO, May 1- Canadian non-bank mortgage lenders raced to shore up confidence in their model on Monday as depositors pulled more money out of Home Capital Group Inc's high-interest savings accounts while a second lender lined up C $2 billion in emergency funding. Meanwhile, Home Capital, Canada's biggest alternative lender, said it expected to draw down half...

  • BOSTON, April 28- The Massachusetts attorney general sued a unit of Ocwen Financial Corp on Friday, accusing the mortgage servicing company of engaging in abusive practices that harmed thousands of homeowners in the state. The lawsuit, filed in Suffolk County Superior Court, came a week after the U.S. Consumer Financial Protection Bureau, the Florida attorney...

  • *Profit rise driven by credit cards, UK bank. *To create 1,000 new jobs in UK in operations and technology. The British bank is seeking to press ahead with restructuring plans which have seen it shift towards a transatlantic U.S.- UK focus and an emphasis on investment banking under its American Chief Executive Jes Staley.

  • *Profit rise driven by credit cards, investment banking, UK bank. *To create 1,000 new jobs in UK in operations and technology. The British bank is seeking to press ahead with restructuring plans which have seen it shift towards a transatlantic U.S.- UK focus and an emphasis on investment banking under Chief Executive Jes Staley.

  • *Profit rise driven by credit cards, investment banking, UK bank. *To create 1,000 new jobs in UK in operations and technology. LONDON, April 28- Barclays reported its first quarter profit more than doubled on Friday, but its investment bank missed out on a bond trading boom that saw earnings surge at its Wall Street rivals.

  • TORONTO, April 27- Canadian alternative lender Home Capital Group Inc said on Thursday the Healthcare of Ontario Pension Plan agreed to provide a $2 billion credit line to its unit Home Trust. But depositors have withdrawn more than half of Home Capital's high-saving interest accounts, while the total balance of its larger pool of less-liquid guaranteed...

  • But depositors have withdrawn more than half of Home Capital's high-saving interest accounts, while the total balance of its larger pool of less-liquid guaranteed investment certificates fell to C $12.98 billion as of April 25 from C $13.06 billion on March 28. Home Capital said that it had liquid assets of C $1.3 billion as of April 25, compared with C $1.5...

  • But depositors have withdrawn more than half of Home Capital's high-saving interest accounts, while the total balance of its larger pool of less-liquid guaranteed investment certificates fell to C $12.98 billion as of April 25 from C $13.06 billion on March 28. Home Capital said that it had liquid assets of C $1.3 billion as of April 25, compared with C $1.5...

  • WASHINGTON, April 26- A U.S. Representative Jeb Hensarling, who chairs the House Financial Services Committee, is considering amendments that would repeal large parts of the 2010 Dodd-Frank financial reform law. Given that at least eight Democrats would be needed to back Hensarlings bill for it to pass the U.S. Senate, Wednesdays hearing was an indication that...

  • WASHINGTON, April 25- Two U.S. Senate Democrats are asking a U.S. audit watchdog to review whether KPMG failed to disclose or prevent fraud when it audited Wells Fargo's books during the time period that the bank's sales force was opening two million unauthorized accounts. In an April 25 letter to Public Company Accounting Oversight Board Chairman James Doty,...

  • WASHINGTON, April 25- Two U.S. Senate Democrats are asking a U.S. audit watchdog to review whether KPMG failed to disclose or prevent fraud when it audited Wells Fargo's books during the time period that the bank's sales force was opening two million unauthorized accounts. In an April 25 letter to Public Company Accounting Oversight Board Chairman James Doty,...

  • WASHINGTON, April 20- For the second time since 2013, the U.S. Consumer Financial Protection Bureau on Thursday sued Ocwen Financial Corp over accusations of widespread misconduct in how it serviced borrowers' loans, from foreclosure abuses to a basic failure to send accurate monthly statements. News of the CFPB accusations plus related legal actions...

  • WASHINGTON, April 20- For the second time since 2013, the U.S. Consumer Financial Protection Bureau on Thursday sued Ocwen Financial Corp over accusations of widespread misconduct in how it serviced borrowers' loans, from foreclosure abuses to a basic failure to send accurate monthly statements. North Carolina was among at least 20 states that also took...

  • WASHINGTON, April 20- The U.S. Consumer Financial Protection Bureau on Thursday sued Ocwen Financial Corp and its subsidiaries, alleging the mortgage loan servicer's "years of widespread errors, shortcuts, and runarounds cost some borrowers money and others their homes." Regulators from Wisconsin and more than 20 other state regulators have also issued...

  • WASHINGTON, April 19- The head of the U.S. House of Representatives' banking panel has unveiled the Republicans' most ambitious plan so far to loosen financial regulations, a 600- page bill to replace the Dodd-Frank financial reform law. Representative Jeb Hensarling, who chairs the House Financial Services Committee, also set an April 26 hearing to discuss...

  • WASHINGTON, April 18- The U.S. Supreme Court on Tuesday appeared skeptical of widening the scope of who can be subject to a federal law targeting debt collectors' abusive practices by including those who buy debt, sometimes for pennies on the dollar. A lower court had dismissed the case brought by four Maryland residents who had defaulted on car loans.