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Bank News

Another Big Bank Slashes Its Bonus Pool

AP | Posted 02.10.2012 | Business

LONDON -- Barclays PLC revealed Friday that it is slashing its bonus pool after earnings at its investment banking division fell sharply and dented ov...

Big Bank To Pay Millions To Settle Charges Of Excessive Overdraft Fees

Reuters | Posted 04.07.2012 | Business

* Largest U.S. bank reaches preliminary settlement * More than 30 lenders sued over overdraft fees * Bank of America $41...

BofA Moves On Stalled Mortgage Loan After Couple Makes Music Video

AOL Daily Finance | Eamon Murphy | Posted 12.29.2011 | Business

It might not be the right method for everyone seeking a home loan -- it requires both a good credit score (798) and some singing and guitar-playing sk...

Citi Selling Off Another Part Of Its Non-Core Business

AP | Posted 02.27.2012 | Business

NEW YORK — Citigroup Inc. is selling its Belgian consumer business to French bank Credit Mutuel Nord Europe as the New York bank continues to se...

Whistleblower Documents Shed Light On Case Against Big Bank

Posted 12.28.2011 | Business

NEW YORK (Reuters) - Confidential whistleblower documents that helped spark a massive state and federal investigation into how Bank of New York Me...

BofA Lagging Competitors In Complying With New Capital Rules

Posted 12.23.2011 | Business

Bank of America Corp is lagging behind its major U.S. competitors in complying with new capital rules, leading the bank to consider even more ass...

Fed Proposes Tougher New Rules For Biggest Banks

AP | PALLAVI GOGOI | Posted 02.19.2012 | Business

NEW YORK — The Federal Reserve on Tuesday said the largest U.S. banks and financial companies should hold extra cash on their balance sheets to ...

BofA Shares Dip Below $5 For The First Time Since March 2009

Posted 12.19.2011 | Business

Shares of Bank of America Corp traded below $5 on Monday for the first time since the depths of the current bear market in March 2009. The sto...

Fed Rules For Bank Oversight Expected This Week

Posted 12.19.2011 | Business

WASHINGTON (Reuters) - The Federal Reserve is expected to release this week a highly anticipated proposal for how it will oversee the largest bank...

Wells Fargo To Pay Big To Settle Bid Rigging Case

AP | PALLAVI GOGOI | Posted 02.07.2012 | Business

Wells Fargo will pay $148.2 million to settle federal and state charges that it rigged dozens of bidding competitions to win business from cities and ...

Jamie Dimon Blasts 'Rich Is Bad' Rhetoric

AP | Posted 02.06.2012 | Business

NEW YORK — Jamie Dimon, the CEO of JPMorgan Chase & Co., is railing against bashing the rich. Dimon was responding Wednesday to a question at a...

Troubled European Bank Gets New Lifeline

Posted 12.05.2011 | Business

Crisis-hit Franco-Belgian bank Dexia (DEXI.BR) has secured temporary financing guarantees from Belgium, France and Luxembourg to keep it running w...

Wall St. Getting More Diverse, White Men Still Netting Most Of The Pay

Posted 12.04.2011 | Business

Though the Wall Street workforce is getting more diverse, white men are still taking home most of the bacon. White men made up more than 60 percen...

S&P Downgrades Big Banks

AP | EILEEN AJ CONNELLY | Posted 01.29.2012 | Business

NEW YORK — Standard & Poor's Ratings Services has lowered its credit ratings for many of the world's largest financial institutions, including t...

Federal Judge Blocks Citigroup's Mortgage Settlement

Posted 11.28.2011 | Business

A federal judge blocked what would have been a $285 million mortgage settlement between Citigroup and the Securities and Exchange Commission, accordin...

Wall St. Pay May Plunge To 2008 Levels

Posted 11.28.2011 | Business

The average Wall Street bonus will decline by 20 percent to 30 percent this year, according to a closely watched compensation report, as banks cut...

Justice Department Reviewing Debit Card Fees

Posted 11.23.2011 | Business

Big banks shouldn't rest easy, the debit fee debacle isn't over. The Justice Department is reviewing claims by a lawmaker that banking industry of...

Big Banks Slated To Lose Billions In Customer Cash Over Next Year: Report

Posted 11.21.2011 | Business

Big bank interest in netting a profit on the backs of customers may end up backfiring. The top 10 retail banks are projected to lose $185 billion ...

Ex-UBS Banker Gets Five Years In Prison For Aiding U.S. Tax Evasion

Posted 11.18.2011 | Business

A former senior UBS banker who helped the U.S. government expand its crackdown on offshore tax evasion was sentenced to five years probation Frida...

Man Suing BofA For Giving His Account To Another Man With The Same Name

Posted 11.17.2011 | Business

One man is suing Bank of America after the company allegedly handed over his account to another customer with the same name. Konstantinos Alexopou...

Fitch Concerned By Exposure Of U.S. Banks To European Debt Crisis

Posted 11.17.2011 | Business

Fitch Ratings warned that it may reduce its "stable" rating outlook for U.S. banks with large capital markets businesses because of contagion from...

Chase Ending Test Of Checking Account With $10 Fee

AP | CANDICE CHOI | Posted 01.14.2012 | Business

NEW YORK — Chase is scrapping the test run of a checking account that charged customers a fixed $10 monthly fee. The trial in Oklahoma was a de...

Bankers Face Double Whammy Of Job Cuts And Sluggish Hiring

Posted 01.11.2012 | Business

Bankers, enduring rounds of deep job cuts, face the grim prospect of having nowhere to turn to for immediate employment in the industry, as nearly...

Tens Of Thousands Joined Credit Unions On Bank Transfer Day

The Huffington Post | Jillian Berman | Posted 01.09.2012 | Business

Tens of thousands of Americans joined credit unions on Saturday, as the Bank Transfer Day movement encouraged consumers to move their money out of big...

Walmart Benefiting From Americans' Frustration With Big Banks

Posted 01.08.2012 | Business

It's not just local non-profit credit unions that are benefiting from anger directed at big banks -- the world's largest retailer is also getting a bo...