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Bank Of America Sued Over Countrywide Mortgage Pool

Posted 10.30.2011 | Business

(Jonathan Stempel and Joe Rauch) - Bank of America Corp was sued by the trustee of a $1.75 billion mortgage pool, which seeks to force the bank to...

Federal Agency Objects To Bank Of America's $8.5 Billion Settlement

The Huffington Post | Alexander Eichler | Posted 10.29.2011 | Business

In June, a director at Bank of America described the company's 2008 acquisition of Countrywide Financial -- the mortgage lender whose holdings include...

Flight to Safety: Should You Invest in Long-Term CDs?

Richard Barrington | Posted 10.11.2011 | Business
Richard Barrington

With the stock market taking a nosedive on the U.S. credit rating downgrade, you might be looking for a place to move your money and wait out the volatility. Should you move your money into long-term CDs?

The Case for Moving Your Money

Don McNay | Posted 10.04.2011 | Business
Don McNay

I want to send Wall Street a wake-up call, as they don't seem to be getting it. The best way is with my dollars. My resources don't add up to what a chairman of a Wall Street bank gets in an annual bonus, but keeping those dollars away is a start.

Ask the Expert: Does the Debt Ceiling Debate Threaten Deposit Insurance?

Richard Barrington | Posted 09.27.2011 | Business
Richard Barrington

Even though FDIC deposit insurance is a federal program, it is not likely to be an immediate victim of a possible federal government default. In the long run though, anything is possible if things reach such a dire outcome.

FDIC Chair: Mortgage Industry 'Didn't Think Borrowers Were Worth Helping'

ProPublica | Posted 09.12.2011 | Business

By Lois Beckett, ProPublica Outgoing Federal Deposit Insurance Corporation Chairwoman Sheila C. Bair's revealing exit interview by the New York Times...

Colorado Banks Shut Down By Regulators

AP | Posted 09.08.2011 | Denver

WASHINGTON (AP) -- Regulators shut down a bank in Illinois and two in Colorado on Friday, boosting to 51 the number of U.S. bank failures this year. ...

FDIC Sues Former IndyMac Bank CEO

Posted 09.06.2011 | Business

(Mihir Dalal) - The Federal Deposit Insurance Corp sued former IndyMac Bank Chief Executive Michael Perry to recover over $600 million in damages ...

Newly-Approved Rule Claws Back Pay Of Those Responsible For Financial Collapse

Posted 09.05.2011 | Business

WASHINGTON (Dave Clarke) - U.S. regulators will be able to snatch back up to two years of Wall Street executives' pay if they are found responsibl...

Banking Groups Complain Of 'Unfair' Pay Clawbacks

Posted 09.05.2011 | Business

HuffPost Update: The FDIC approved a rule Wednesday that allows regulators to claw back up to two years of Wall Street executives' pay if they are fou...

Welcome News for Money Market Accounts: Inflation Chills Out

Richard Barrington | Posted 09.04.2011 | Business
Richard Barrington

It may be heating up outside, but a cool breeze of relief has come from an unexpected source. The latest Consumer Price Index (CPI) report shows inflation easing back a little bit.

Departing Regulator: Government, Banks Suffer From 'Short-Termism'

The Huffington Post | Bonnie Kavoussi | Posted 08.25.2011 | Business

Sheila Bair, outgoing chair of the Federal Deposit Insurance Corp., said on Friday that the American government and financial system are in danger of ...

'Brooklyn's Bernie Madoff" Sentenced For Ponzi Scheme

Posted 08.17.2011 | Business

NEW YORK (Jessica Dye) - With dozens of his victims watching, an investment manager once dubbed by the media as "Brooklyn's Bernie Madoff," was se...

FDIC Chair 'Very Concerned' EU Banking System Could Destabilize Global Economy

Posted 08.16.2011 | Business

A top bank regulator said she is "very concerned" the European banking system has the potential to become a future source of financial instability...

British Government Will Separate Banks Into High-Risk, Low-Risk Sections

AP | ROBERT BARR | Posted 08.15.2011 | Business

LONDON — The British government intends to force banks to separate their retail operations from their more volatile investment banking, and it i...

William Alden

No More Bailouts For Wall Street, Regulator Says | William Alden | Posted 08.14.2011 | Business

The era of Wall Street bailouts is over, a top government regulator told Congress on Tuesday. The financial reform legislation passed last summer b...

Obama Announces Pick For FDIC Chairman

AP | By DARLENE SUPERVILLE | Posted 08.10.2011 | Business

WASHINGTON -- President Barack Obama said Friday that he will nominate Martin J. Gruenberg to become chairman of the Federal Deposit Insurance Corp. ...

Conversation With Jeff Madrick, Author of Age of Greed (Part One)

Lynn Parramore | Posted 07.31.2011 | Business
Lynn Parramore

"Greed always exists. It rises and falls with the times. But when it's unchecked by government, self-interest rises to a level of greed that overwhelms the economic invisible hand."

Crunching the Bank Numbers for 1st Quarter of 2011

Dennis Santiago | Posted 07.26.2011 | Business
Dennis Santiago

I've been staring at the summary statistics for the industry today and file the following observations for those of you entertained by how this is all playing out.

William Alden

Bank Profits Soar And Corporate Bonuses Swell As Broader Economy Stagnates | William Alden | Posted 07.25.2011 | Business

The divide between corporate fortunes and those of ordinary Americans continues to widen, as banks post strong profits and the nation's largest compan...

"Big Fail" Pondering the Unthinkable

Dennis Santiago | Posted 07.24.2011 | Business
Dennis Santiago

The U.S. economy's deposits, assets and risk instruments remain concentrated in a very small number of large institutions. What if one of them, just one of them, collapsed?

Cost Of 2010 Bank Failures Exceeds Estimates By Billions

Posted 07.13.2011 | Business

CHARLOTTE, North Carolina - U.S. bank failures in 2010 cost the Federal Deposit Insurance Corp $2 billion, or 9 percent, more than initially forec...

Financial Reforms Could Be Stalled Big Leadership Vacuum | BINYAMIN APPELBAUM | Posted 07.13.2011 | Business

The Obama administration has not announced nominees for several positions that Congress created last summer, nor has it nominated new heads for three ...

Zach Carter

Payday Loan Kingpin Praises Elizabeth Warren | Zach Carter | Posted 07.10.2011 | Business

This article has been updated WASHINGTON -- The Chairman of the nation's largest payday lending outifit is making the rounds in the nation's capita...

FDIC Announces Chair Sheila Bair Will Step Down In July

Posted 07.09.2011 | Business

Federal Deposit Insurance Corp Chairman Sheila Bair will leave the agency effective July 8, the FDIC announced on Monday. Bair began her five-y...