Banking News

A U.S. judge is considering an alternative that could result in Bank of America Corp paying much less than the $863.6 million the government is seeking as a penalty for the sale of defective mortgages before the financial crisis.

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A man looks at a display in a shoe store in Madrid, Spain, Wednesday, Dec. 4, 2013.

Royal Bank of Canada president and CEO Gordon Nixon announced Thursday that he will retire on Aug. 1, 2014 after 13 years as head of Canada's largest bank.

The Canadian Imperial Bank of Commerce is opening a branch inside Toronto's Pearson airport in a bid to draw in travellers and newcomers.

JPMorgan Chase & Co is warning some 465,000 holders of prepaid cash cards issued by the bank that their personal information may have been accessed by hackers who attacked its network in July.

Wall Street banks, which already shut proprietary trading units that helped fuel record profits, are girding to learn next week how much revenue the Volcker rule may cut from the $44 billion they say comes from market-making.

A new firm formed by former distressed debt executives from Barclays is preparing to hit the fundraising trail in search of about $1 billion, according to two people with knowledge of the situation.

The Toronto stock market closed lower Wednesday as the initial run of earnings from the big Canadian banks failed to impress and persuaded investors to take some profits from a sharp runup in banks and insurers this year.

Fifth Third Bancorp , a large U.S. midwest regional bank, agreed to pay $6.5 million to settle U.S. Securities and Exchange Commission charges that it accounted improperly for troubled commercial real estate loans during the 2008 financial crisis, reducing its reported loss.

Top US banks including Bank of America and Citigroup Inc failed to comply with some provisions of a government settlement to improve mortgage servicing practices, a monitor of the settlement said on Wednesday.

The Bank of Canada is not expected to move interest rates higher or lower today when it announces its trend-setting rate.

In this Aug. 9, 2012 file photo the logo of Swiss UBS bank is pictured under dark clouds in Zurich, Switzerland.

Builders work on a construction site in Madrid, Spain, Tuesday, Dec. 3, 2013. Official figures show the number of people registered as unemployed in Spain fell by a little under 2,500 in November, the first drop during the month since the current system was introduced 1997.

U.S. banks are likely to cut back on risky short-term funding if markets believe bankruptcy not bailouts await them, a top Federal Reserve is set to tell lawmakers on Tuesday.

Japan's securities watchdog will recommend that a Tokyo-based unit of Deutsche Bank be sanctioned for excessive entertainment of pension fund executives, sources with knowledge of the matter said on Wednesday.

Northeast Indiana officials annually compare this region's performance with 14 Midwestern cities, chosen for their similarity to Fort Wayne.

Baja Mining Corp. . Miner. Down a penny, or 66.67 per cent, at half a cent on 36.30 million shares.

The Toronto stock market headed lower late morning Monday, held back primarily by the financials group even as Bank of Montreal announced a dividend increase and posted earnings that beat expectations.

A growing number of Canadian businesses are betting against BlackBerry as they consider how to spend their future technology budgets.