The Federal Reserve has more reason than ever to cut a key U.S. lending rate it has kept at just above zero since the depths of the financial crisis, a top Fed policymaker suggested on Tuesday.
Wells Fargo & Co said Monday that a U.S. government request to add one of its executives as a defendant in a fraud case may be in retaliation for the bank's decision to cut off settlement talks.
U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country's biggest banks.
U.S. household debt rose in the latest quarter by the most in more than five years and the share of student loans in delinquency hit a record high, data from the Federal Reserve Bank of New York showed on Thursday.
The federal judge who oversaw the recent civil fraud trial against Bank of America Corp criticized the U.S. Department of Justice on Tuesday for failing to prosecute high-level executives over the financial crisis.
Bank of America Corp was found liable for fraud on Wednesday over defective mortgages sold by its Countrywide unit, a major win for the U.S. government in one of the few trials stemming from the financial crisis.
The U.S. government has failed to produce any evidence to show that Bank of America Corp's Countrywide unit committed mortgage fraud in the run-up to the financial crisis, a lawyer for the bank said on Tuesday.
SunTrust Banks Inc agreed to pay nearly $1.2 billion to resolve investigations from several U.S. authorities into its mortgage practices, the bank said on Thursday.
The U.S. Supreme Court on Monday said banks sued by the U.S. Federal Housing Finance Agency over mortgage-backed securities that were sold to Fannie Mae and Freddie Mac cannot appeal a preliminary lower court ruling they object to.
Bank of America has agreed to pay $32 million to settle charges that it made harassing debt collection calls to customers' cell phones, in what is believed to be the largest cash payout ever under a 1991 law meant to protect consumers from unwanted calls.