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Financial Service News

Financial Services news continually updated from thousands of sources around the net.

4 min ago | Business Wire

Press release distribution, EDGAR filing, XBRL, regulatory filings

UPCOMING DEADLINE: LEVI & KORSINSKY, LLP Notifies Investors of Class Action Against INSYS Therapeutics, Inc. and Its Board of Directors and a Lead Plaintiff Deadline of July 14, 2014 )--Levi & Korsinsky announces that a class action lawsuit has been commenced in the USDC for the District of Arizona on behalf of investors who purchased INSYS ... (more)

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Related Topix: Doral Financial

4 hrs ago | Bellingham Herald

Ace Cash Express settles debt collection claims

The Consumer Financial Protection Bureau announced the agreement with Ace, one of the biggest payday lenders in the U.S. The company will pay a $5 million fine and return $5 million to affected customers.

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Related Topix: Ace Cash Express, Irving, TX

8 hrs ago | KMIZ

They're back! Euro jitters slam U.S. stocks

U.S. stocks are down sharply Thursday as jitters about a Portuguese bank and ugly economic data raise more doubts about whether Europe is recovering.

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Related Topix: Financial Markets, T Rowe Price Group, Investment Services

9 hrs ago | The Wichita Eagle

US stock futures sink on Portugal worries

In this May 11, 2007, file photo, a Wall Street sign is mounted near the flag-draped facade of the New York Stock Exchange.

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Related Topix: Espirito Santo Financial Group SA

10 hrs ago | Business Journal

Too big to sail? CEO Cutler Dawson on how Navy Federal Credit Union keeps growing

While the U.S. Navy keeps shrinking, Navy Federal Credit Union keeps growing. The Vienna, Va.-based credit union, the nation's largest, surpassed $6 billion in assets last month and now has more than 5 million members.

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Related Topix: Navy Federal Credit Union, Banking

12 hrs ago | Silicon Alley Insider

A Troubled Portuguese Bank Has The Country's Interest Rates Surging

A man has his shoes shined near an office of Portuguese bank Banco Espirito Santo in Lisbon June 20, 2014.

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Related Topix: Espirito Santo Financial Group SA, Brazil, World News

Wed Jul 09, 2014

McClatchy

Credit ratings still broken, experts say, offer a fix

Credit ratings agencies still measure the likelihood that exotic securities will default in the same flawed ways that they have in the past, wrote Ann Rutledge, a New York expert in these types of securities, and Robert Litan, a senior fellow in Brookings' Economic Studies Program.

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Related Topix: Moodys, Financial Markets

Business Journal

Snapshot: Citigroup and the $7B bad mortgage deal + Pharmacist accused of taking 200K pills

Citigroup is nearing a $7B settlement deal over shoddy mortgages, sources familiar with the deal say, reports The Wall Street Journal.

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Related Topix: Home, Banking, Mortgage, Citigroup, Personal Finance, CitiMortgage, Weather, Drugs

Inside Bay Area

Biz Break: Gigamon is first victim of Silicon Valley earnings season tumult

Today: Gigamon plummets after revealing that earnings report will not live up to expectations.

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Related Topix: Banking, Silicon Valley Bancshares, PC, Santa Clara, CA, Santa Clara County, CA, Financial Markets

Reuters

Holder won't meet with BofA CEO as mortgage talks stall: sources

Attorney General Eric Holder has formally refused to meet with Bank of America Corp Chief Executive Brian Moynihan to hammer out a multibillion-dollar deal, as talks to resolve probes into shoddy mortgage securities sold by the bank and its units remain at a standstill, according to people familiar with the matter.

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Related Topix: Home, Mortgage, Personal Finance, Banking, Bank of America, US News

Brandon Sun

European Central Bank official: Britain leaving EU would be 'enormous shock'

A top European Central Bank official says Britain leaving the European Union would be an "enormous shock" whose consequences would be difficult to manage.

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Related Topix: Banking, European Central Bank, Greater London County, England, United Kingdom,

KOCO-TV Oklahoma City

Vatican turns to Wall Street to fix bank

The bank -- whose functions include providing financial advice and services to the Catholic Church -- has been hit by a criminal investigation, high-level resignations and international accusations that it wasn't doing enough to prevent money laundering.

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Related Topix: Goldman Sachs, Investment Services

KMIZ

Vatican turns to Wall Street to fix bank

The Vatican is turning to big-hitting Wall Street players for help as it tries to leave its scandal-tainted banking past behind.

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Related Topix: Goldman Sachs, Investment Services

Bangkok Post

Bangkok slips as top destination

London has overtaken Bangkok as the top destination for international travellers on the MasterCard Global Destination Cities Index, as political unrest in the Southeast Asian city kept visitors away.

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Related Topix: MasterCard

Reuters

UPDATE 1-California school system settles SEC bond disclosure charges

A central California school district has settled U.S. Securities and Exchange Commission charges that it misled investors by omitting required disclosures when it conducted a $6.8 million bond offering in November 2010, the regulator said on Tuesday.

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Related Topix: Securities and Exchange Commission, Corporate / Securities Law, Law, Education Etc., US Securities and Exchange Commission

Tue Jul 08, 2014

Wall Street Journal

Fed's Kocherlakota Sees No Urgency To Raise Short-Term Rates

Federal Reserve Bank of Minneapolis President Narayana Kocherlakota indicated Tuesday that any increase in short-term rates by the U.S. central bank likely lies well into the future.

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Related Topix: Federal Reserve Bank of Minneapolis, Banking

West Australian

Citigroup may pay $7 billion to resolve U.S. mortgage probes - source

Citigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, a source familiar with the matter said on Tuesday.

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Related Topix: Banking, Citigroup, Home, Mortgage, CitiMortgage, Personal Finance, US News

Brandon Sun

Moody's: gov't to shift more risk to banks' creditors, creating negative outlook

Moody's Investor Services has cut its outlook for the Canadian banking system to negative due to an expected reduction of government support for the sector, but says it still believes the individual banks and the overall system are among the strongest in the world.

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Related Topix: Moodys

Wall Street Journal

U.S. Officials Try To Rebuild Momentum In Stalling Mortgage Refinance and Modification Programs

Federal Housing Finance Agency director Mel Watt on Tuesday kicked off a new push to get eligible homeowners into the Home Affordable Refinance Program , or HARP, beginning with a town hall meeting in Chicago.

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Related Topix: Home, Mortgage, Personal Finance, Housing, Banking, Suntrust Banks, Foreclosures

Reuters

Insider trading trial of Rajaratnam's brother goes to jury

Jurors began deliberating on Tuesday in the trial of Rengan Rajaratnam, younger brother of Galleon Group hedge fund founder Raj Rajaratnam, who prosecutors say conspired to engage in insider trading.

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Related Topix: Galleon Group, Investment Services, McKinsey, Consulting

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