Sen. Elizabeth Warren (D-Mass.) sent a letter to Attorney General Eric Holder Wednesday questioning whether a major government settlement with the nation's largest mortgage companies is merely a way to absolve banks of malpractice under a "timid enforcement strategy."
U.S. Attorney General Eric Holder is preparing to announce new cases related to the economic meltdown in the coming months as the Justice Department nears decisions on a number of probes involving large financial firms, the Wall Street Journal reported.
If you're wondering where mortgage rates are headed you're not alone. It used to be that mortgage rates reflected supply and demand but that's no longer the case.
Fannie Mae and Freddie Mac are masking billions of dollars losses because of the level of delinquent home loans they carry, a federal watchdog said in an internal report, and it said the companies should be required immediately to recognize the costs of some bad mortgages.
No wonder JPMorgan Chase is too big to fail: It's squeezing at least two very different banks inside one. One bank is an (alleged!) serial troublemaker constantly being hassled by the authorities. The other is a can't-miss trading wizard beloved by investors.
If it's Thursday, it must mean that JPMorgan Chase is in some kind of trouble again. This has become such a common thing that JPMorgan investors hardly bother to care any more.
Two Democratic Senators on Wednesday asked U.S. energy regulators for more details on how terms of a settlement were reached on alleged power market manipulation in California and the Midwest by a unit of JPMorgan Chase & Co.
Before Lehman crashed, there was “The Bear.” Bear Stearns, once the nation’s fifth-largest investment bank, had been a fixture on Wall Street since 1923 and had survived the crash of 1929 without laying off any employees.
Like millions of Americans who tried to stave off foreclosure in recent years, Lanette Worles says her bank repeatedly lost vital paperwork she submitted, scuttling her chance at saving her home.
Unexpectedly large quarterly profits at JPMorgan Chase & Co and Wells Fargo & Co hide a more worrisome forecast for the rest of the year for many U.S. banks. Things could get worse before they get any better.