Banking news continually updated from thousands of sources around the net.
3 hrs ago | National Mortgage News
Citigroup Inc., Morgan Stanley and Goldman Sachs Group Inc. are among 13 banks whose units were sued for $1.15 billion by the state of Virginia, over claims they misled its retirement system about the sale of residential mortgage-backed securities. The suit in state court in Richmond is the largest financial fraud case ever brought by the commonwealth, Virginia Attorney General Mark Herring said in a statement today.
7 hrs ago | Channelnewsasia.com
Worth 4 billion yuan , the bonds will be issued and priced in three tranches, and cleared through the Central Depository in Singapore. SINGAPORE: Industrial and Commercial Bank of China Singapore Branch issued 4 billion yuan worth of offshore yuan bonds in Singapore on Tuesday .
9 hrs ago | Silicon Alley Insider
The company had previously earned about $3 billion a year in punitive fees such as overdraft charges on debit-card purchases and about $3 billion a year through the sale of identity theft, payment protection and other "add-on" products, Thong Nguyen, head of Bank of America's mass-market retail bank, told an investor conference in Boston. The bank ended the practice of charging consumers debit card overdraft fees in 2010 and had stopped marketing add-on products by 2012.
12 hrs ago | Fort Francis Times
It seems that it can still be a man's world when it comes to investing. A new survey says 83 per cent of Canadians believe that investing has traditionally been viewed as a role for men, and 48 per cent contend that women are intimidated by investing.
16 hrs ago | Brandon Sun
Slyce Inc. is acquiring Israel-based BuyCode Inc., developer of the Pounce mobile payment app, for up to US$5 million in shares, cash and earn-out incentives. Toronto-based Slyce says the Pounce app, available both directly to consumers and as a private label solution to retailers, is expected to bolster a suite of mobile shopping services Slyce already provides its retail customers while also saving it significant development time and investment.
File-This March 23, 2008, file photo provided by the Hennepin County, Minn. Sheriff's Office shows Douglas McAuthur McCain.
A federal court in Oklahoma delivered another blow to claims by mortgage loan officers that they are entitled to overtime under the Fair Labor Standards Act . In Chapman v.
On November 30th, voters in Switzerland will head to the polls to vote in a referendum on gold. On the ballot is a measure to prohibit the Swiss National Bank from further gold sales, to repatriate Swiss-owned gold to Switzerland, and to mandate that gold make up at least 20 percent of the bank's assets.
File - JULY 11: Wells Fargo reported profits rose 4% from the same period last year, however the results were slightly lower than expected and the stock was down on early trading. - OAKLAND, CA - JULY 19: A sign is posted in front of a Wells Fargo Bank branch on July 19, 2011 in Oakland, California.
Katherine August-deWilde, president of San Francisco-based First Republic Bank, says several factors contributed to the Bay Area's luxury homes hitting a record price in the second quarter. The average luxury home in the San Francisco Bay Area reached an all-time high of $3.3 million, according to First Republic Bank's Prestige Home Index.
The Sandusky-based parent of Citizens Banking Co., which operates branch offices in Dublin and Plain City, showed a desire to expand its footprint with a $17.2 million agreement to purchase Dayton-based TCNB Financial Corp. "Everybody wants to be ," Dutton told me. "If you get into a bidding situation, there's always somebody willing to pay more.
Greater Cincinnati employers are going to keep adding workers next year, to the tune of about 15,000 more jobs. That's the prediction of Stu Hoffman .
Major changes are afoot in the executive ranks of the Canadian Imperial Bank of Commerce , as incoming chief executive Victor Dodig shuffles a number of leadership roles and announced the exit of one key executive. Dodig, who began his job as head of the bank on Monday, says chief operating officer Richard Nesbitt is leaving CIBC immediately, accelerating his initial plan to retire in October 2015.
Popular Community Bank, the U.S. banking subsidiary of Popular Inc. , completed the previously announced sale of its Central Florida regional operations to Harbor Community Bank , a wholly owned subsidiary of HCBF Holding Co. Inc. As part of the transaction, Popular Community Bank sold its nine branches in the Central Florida area, including $104 million in loans and $217 million in deposits, each as of Aug. 31. The transaction is expected to result in a net premium of about $1 million before customary transaction-related costs.
The LightStream AnythingLoan will give KBB.com site visitors online financing for cars, trucks and motorcycles anywhere in the United States. Qualified consumers can borrow between $5,000 and $100,000 at terms of their choosing and at competitive fixed rates, starting as low as 1.99 percent APR.
German Finance Minister Wolfgang Schauble speaks during a news conference in Milan, Italy, Saturday, Sept. 13, 2014.
The sudden death last week of Hudson City Bancorp Inc.'s top executive and the subsequent naming of new leader is not expected to affect the company's plans to be acquired by M&T Bank . In a statement issued Sept.
Anyone who reads my articles knows I've been pounding the table to buy Bank of America for a long time now. I have maintained that BAC's issues are transitory - although they have been a little less transitory than I'd hoped - and that we'd eventually see the company earning billions upon billions and a higher stock price.
Updated: Tue Sep 16, 2014 07:01 pm
Copyright © 2014 Topix LLC