Financial Service News

The Federal Reserve Bank of New York has found serious problems in Deutsche Bank AG's U.S. operations, including shoddy financial reporting, inadequate auditing and oversight and weak technology, the Wall Street Journal reported.

Discover Financial Services' net income grew 7 percent in the second quarter as credit card spending and overall loans increased from a year ago.

A&W Revenue Royalties Income Fund said Tuesday its second-quarter profit fell to $4.1 million, but total sales were up about 12 per cent as the fast food chain repositions its brand with beef raised without the use of hormones.

TD Ameritrade Holding Corp. says its quarterly profit improved 3 percent as clients trusted the online brokerage with more assets and trading activity remained strong.

OneWest, whose parent company is IMB Holdco LLC, runs 73 retail branches in southern California.

IMB shareholders will receive $2 billion in cash and 31.3 million CIT Group shares that are currently valued at $1.4 billion.

Mueller Financial Services, Inc., the financial planning, investment advisory and insurance solutions division of CPA and Management Consulting firm Mueller, today announced that Financial Advisor Brent Kalka has been promoted to Partner and Vice President of the firm, effective immediately.

July 21, 2014: Finda Corp Pty Ltd. acting as the exclusive distributor in Australia for Location Based Technologies, Inc. , announced today a partnership agreement with Australian Warranty Network to resell Commercial and Consumer LBT vehicle GPS tracker solutions into the automotive and other vehicle Extended Warranty market in Australia and New ... (more)

New York-based credit ratings agency Moody's Investors Service dropped Pennsylvania's $11.1 billion of general obligation bonds a rung on its rating ladder, from Aa2 to Aa3, leaving it ranked among the six worst states in Moody's ratings for the 47 states with general obligation debt.

Hedge fund manager Bill Ackman said he will hold a presentation Tuesday that will prove nutrition company Herbalife is a "fraud."

The probe by the Senate Permanent Subcommittee on Investigations will be the subject of a daylong hearing on Tuesday and also spells more trouble for the embattled Internal Revenue Service.

The head office and sign of Valeant Pharmaceutical are pictured in Montreal on May 27, 2013.

SunTrust Banks Inc. The Atlanta-based banking company reported its second quarter profit was up 6 percent.

BB&T on Monday reported net income of $425 million in the second quarter, down from $547 million a year earlier, and missed analysts' projections on per-share earnings.

The U.S. Securities and Exchange Commission has scored big enforcement successes and delivered millions of dollars in awards to whistleblowers under a programme from the 2010 Dodd-Frank overhaul of Wall Street.

The retirement savings industry wants you to instead think about the monthly paycheck the account can generate.

Chinese collector Liu Qiqian drinks tea from the $39 million porcelain cup he bought at Sotheby's Hong Kong.

A historic plantation originally built as a monument to George Washington overlooking the nation's capital, a site that later was home to Confederate Gen.

Same-store debit and credit card sales during the second quarter rose 5.03 percent from the same quarter in 2013, according to First Hawaiian Bank's quarterly business activity report.

The Times reports the bank profiled Gary and nine other Midwestern cities that also suffered major manufacturing job losses in recent decades as part of its Industrial Cities Initiative.