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Big Banks

Goldman, Morgan Stanley Say Clawbacks Will Affect Executive Pay Too

The Huffington Post | Alexander Eichler | Posted 02.08.2012 | Business

Two major Wall Street firms say their executives will face the same repercussions for misconduct as everybody else at the company -- but it's not clea...

Heart of Darkness

Mike Lux | Posted 04.07.2012 | Business
Mike Lux

Not in everything, but definitely in this, the founders were right. The financial industry got too powerful, and they assumed and operated as if they were above the law. And the rest of us paid a huge price, and are paying it still.

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...

Bruised Wall Street Firms Continue To Jettison Office Space

The Huffington Post | Alexander Eichler | Posted 02.06.2012 | Business

Here's one thing big banks have in common with protesters: Neither group is occupying Wall Street as much as they used to. In an ongoing sign of th...

The Great Task Force and Settlement Debate

Mike Lux | Posted 04.03.2012 | Business
Mike Lux

The long rumored robo-signing settlement, which has been a few days away from being inked for about a year now, seems like it is moving toward completion.

Former Treasury Counselor Could Move To Goldman Sachs

The Huffington Post | Alexander Eichler | Posted 02.01.2012 | Business

The revolving door between Wall Street and Washington is about to turn once more. Richard Siewart, onetime counselor to Treasury Secretary Timothy...

Wall Street Lobbyists Could Severely Weaken Derivative Regulation

The Huffington Post | Alexander Eichler | Posted 01.30.2012 | Business

Wall Street lobbyists are trying hard to weaken the extent to which the government can police a practice that played a central role in the 2008 financ...

Dan Froomkin

Auction 2012: How The Bank Lobby Owns Washington

HuffingtonPost.com | Dan Froomkin | Posted 01.30.2012 | Politics

Auction 2012 is a weeklong series in collaboration with "The Dylan Ratigan Show" and United Republic. When Washington puts policy on the auction bl...

Big Banks Betting Wave Of Mortgage Defaults Will Slow

Reuters | Posted 03.29.2012 | Business

* Declining delinquencies spark hope that worst is passing * JPMorgan, Bank of America, Wells Fargo forecast savings * C...

Catherine New

Citibank Gets The Message: 'Start Serving Clients'

HuffingtonPost.com | Catherine New | Posted 01.27.2012 | Business

Big banks are realizing they may actually have to pay attention to customers to keep them. An unprecedented number of people dumped billion-dollar ...

Settlement Release Looks Tight

Mike Lux | Posted 03.28.2012 | Business
Mike Lux

Big breaking news about the long-fought over bank settlement: an outline of the terms of the legal release are emerging.

Big Bank CEO: Anti-Banking Sentiment 'A Form Of Discrimination'

The Huffington Post | Alexander Eichler | Posted 01.25.2012 | Business

Jamie Dimon, the head of JPMorgan Chase, would like to make it clear that he is not that kind of banker. "I've disagreed right from the beginning o...

Word of the Day: Accountabilty

Mike Lux | Posted 03.26.2012 | Business
Mike Lux

If Obama wants to run against Wall Street in the 2012 campaign, he needs credibility to do it, and he took a big step toward getting it last night. But victory can't be declared until the banks actually move several hundred billion in mortgage writedowns, and some indictments are issued.

Consumer Advocates: BofA Poses 'Grave Threat,' Should Be Broken Up

Reuters | Posted 03.26.2012 | Business

* Public Citizen, academics say BofA poses "grave threat" * Ask regulators to proactively reform Bank of America * Petit...

How Mitt Romney Got A Seven-Digit Windfall Courtesy Of Goldman Sachs

The Huffington Post | Alexander Eichler | Posted 01.24.2012 | Business

Mitt Romney, man of considerable wealth, has Goldman Sachs to thank for at least some of his fortune. In his 2010 and preliminary 2011 tax returns...

BofA Investment Bankers Told To Brace For Huge Pay Cut

Posted 01.24.2012 | Business

First it was the layoff announcements. Now it's time for pay cuts. A new type of structural adjustment continues to plague one of America's most i...

Alexander Eichler

Why Does Wall Street Make So Much Money?

HuffingtonPost.com | Alexander Eichler | Posted 01.21.2012 | Business

Payouts declined on Wall Street this year, as the major financial firms tried to steer through several quarters of lawsuits, layoffs, jittery markets,...

Catherine New

Growing Numbers Moving Their Money Away From BofA

HuffingtonPost.com | Catherine New | Posted 01.20.2012 | Business

Do banks need your money? Bank of America revealed yesterday that the number of customers closing their accounts spiked last quarter, but official...

Catherine New

Banks Tap Reliable Money Maker: Credit Cards

HuffingtonPost.com | Catherine New | Posted 01.20.2012 | Business

After being rebuffed in its efforts to charge $5 per month for debit card use, Bank of America is gambling on the optimism of American consumers and g...

Catherine New

Overdraft Fees Reach A New High

HuffingtonPost.com | Catherine New | Posted 01.18.2012 | Business

The cost of not having enough money just got steeper. The median overdraft fee banks charge customers surged to $30 from $27.50 last year, accordi...

Sheila Bair: Shareholders Should Demand That Big Banks Break Up

Fortune | Sheila Bair | Posted 01.18.2012 | Business

America is downsizing. Whether it's the food we eat, the cars we drive, or the houses we live in, Americans are concluding that smaller is better. Eve...

Jason Cherkis

Occupy Atlanta Wins Deal With BB&T, Saves Historic Church

HuffingtonPost.com | Jason Cherkis | Posted 01.18.2012 | Business

WASHINGTON -- Occupy Atlanta can declare another victory in its fight against big banks. Six days ago, Pastor Dexter Johnson called on the organizers ...

Pay For Goldman Sachs Employees Has Little To Do With Performance

The Huffington Post | Alexander Eichler | Posted 01.23.2012 | Business

Goldman Sachs isn't likely to garner much public favor when it announces its earnings this week, as forecasts predict that the bank will boost the sha...

Regulator Approves Rule Requiring Big Banks To Submit 'Living Will'

AP | By MARCY GORDON | Posted 01.17.2012 | Business

WASHINGTON -- The largest banks must show how they would break up their assets if they were in danger of failing, under a rule approved Tuesday. The ...

Union Eyes Dual Chairman-CEO Roles At Goldman, JPMorgan Chase

Reuters | Posted 03.18.2012 | Business

* Union seeks to cut CEO power at JPMorgan, Goldman, others * Independent chair hottest governance issue in 2012 - analysts ...