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Financial Service News

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

1 hr ago | WSJ Media and Advertising

Comparison Sites for Credit Cards Under Fire

When Curtis Arnold launched the card-comparison website BestPrepaidDebitCards.com in early 2013, American Express Co.

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Related Topix: Travelers Express Company, Advertising

5 hrs ago | ComputerWorld

HP loses its leader on NFV, a key carrier network trend

Bethany Mayer, who led Hewlett-Packard's foray into the growing field of network functions virtualization, has left the company to run network testing and optimization company Ixia.

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Related Topix: Hewlett Packard, Securities and Exchange Commission, Corporate / Securities Law, US Securities and Exchange Commission, Law, Science, Computer Science

10 hrs ago | Silicon Alley Insider

HSBC Is Sued In U.S. For $250 Million Over Alleged Role In 'death Bonds'

HSBC Holdings Plc was sued for $250 million on Friday for allegedly ignoring red flags that a colorful British entrepreneur, the late David Elias, was committing fraud through an investment vehicle he controlled.

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Related Topix: Financial Markets, HSBC Holdings, Banking

Fri Aug 22, 2014

Reuters

Wylys' lawyer warns SEC's $729 million claim would bankrupt them

A lawyer for Texas tycoon Sam Wyly and his late brother Charles' estate told a federal judge on Friday that a U.S. securities regulator's demand for $729 million in damages for a fraudulent offshore scheme would "bankrupt" them.

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Related Topix: Securities and Exchange Commission, Corporate / Securities Law, Law, Economics News, Bankruptcy, US Securities and Exchange Commission, Michaels Stores, Retail

ABC News

Goldman Paying $3.15B Over US Mortgage Bond Claims

Goldman Sachs has agreed to pay $3.15 billion to resolve claims that it misled U.S. mortgage giants Fannie Mae and Freddie Mac about risky mortgage securities it sold them before the housing market collapsed in 2007.

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Related Topix: Goldman Sachs, Investment Services, Home, Mortgage, Personal Finance

WHAS11

Republicans submit FEC complaint about Grimes' bus

The Republican Party of Kentucky has submitted a complaint to the Federal Election Commission alleging Democratic U.S. Senate candidate Alison Lundergan Grimes accepted prohibited campaign donations from her father's company.

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Related Topix: Federal Election Commission, Louisville, KY

Business Journal

Former Wells Fargo CEO Dick Kovacevich tells CNBC: Bank of America settlement 'politics'

Dick Kovacevich , Wells Fargo's outspoken former chairman and CEO, told CNBC on Thursday that Bank of America's nearly $17 billion settlement with the Justice Department is simply a case of the government extorting money from banks.

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Related Topix: Bank of America, Banking, Wells Fargo , JP Morgan Chase

Canada.com

TSX slips amid solid RBC earnings

The Toronto stock market was slightly lower Friday morning amid a deterioration in the Russian/Ukraine crisis while traders looked to a key speech from U.S. Federal Reserve chairwoman Janet Yellen later in the morning.

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Related Topix: RBC Financial Group, Banking, Canada, Financial Markets

Brandon Sun

Royal Bank Q3 profit rises to $2.38 billion, most units post record results

Canada's largest bank is hiking its dividend for common shares by six per cent after reporting a record third-quarter profit that beat analyst estimates.

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Related Topix: RBC Financial Group, Banking

The Washington Post

BofA Seeks to Prove Buffett Right After Countrywide Legal Morass

Billionaire Warren Buffett has predicted Bank of America Corp. will become a profit powerhouse once it finally resolves legal battles that have sapped funds and distracted managers.

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Related Topix: Banking, Bank of America, Warren Buffett, Home, Mortgage, Personal Finance, Wells Fargo , Business News

Thu Aug 21, 2014

Brandon Sun

Onex fund sells Car Wash Partners Inc. to Leonard Green and Partners

Onex Corp. said Thursday that its ONCAP II fund has sold its Car Wash Partners Inc. business to Leonard Green and Partners.

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Related Topix: Onex, Investment Services

NewsOK.com

Feds: Colorado woman defrauded investors of $800k

The U.S. Securities and Exchange Commission is suing a former Colorado Springs woman for allegedly defrauding more than 40 investors in several states of nearly $800,000 through smartphone ventures.

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Related Topix: Colorado, Securities and Exchange Commission, Corporate / Securities Law, Law, US Securities and Exchange Commission

WLUK-TV Green Bay

Bank of America settlement likely to benefit few

Bank of America's record $16.65 billion settlement for its role in selling shoddy mortgage bonds - $7 billion of it geared for consumer relief - offers a glint of hope for desperate homeowners.

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Related Topix: Banking, Bank of America, Home, Mortgage, Personal Finance, Financial Markets, Foreclosures, New York

Business Journal

Wells Fargo creates startup accelerator to get front-row seat on financial innovation

Wells Fargo said Wednesday that it established the Wells Fargo Startup Accelerator designed for startups pursuing innovation in financial services.

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Related Topix: Wells Fargo , Banking

Business Journal

Dollar General swipes at Family Dollar CEO; Under Armour bids to...

Family Dollar is in the middle of an apparent bidding war between its rival discount retailers, Dollar Tree and Dollar General , but ever since Dollar General made its competing offer, officials with that company have bluntly stated that they were surprised when the two smaller companies announced their merger agreement, since they thought they had ... (more)

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Related Topix: Retail, Family Dollars Stores, Dollar General, Kohlberg Kravis Roberts, Investment Services, Dollar Tree Stores, Tree.com

Reuters

JPMorgan, BofA to raise junior banker pay by 20 percent: sources

JPMorgan Chase & Co and Bank of America Corp are planning to hike salaries of junior employees by at least 20 percent, people familiar with the proceedings said.

1 comment

Related Topix: Banking, Bank of America, JP Morgan Chase , Goldman Sachs, Investment Services, Citigroup

Wed Aug 20, 2014

Brandon Sun

RBC forecasts Canadian housing market will cool in 2015 if interest rates rise

RBC Economics says higher interest rates will put a strain on the Canadian housing market in 2015 and "substantially" moderate prices increases.

Comment?

Related Topix: RBC Financial Group, Banking, Housing

Reuters

RBS settles copyright lawsuit after U.S. judge blocks software's use

Terms of the settlement with Complex Systems Inc were not disclosed. But RBS in a statement said the deal would allow it to use the company's BankTrade software and continue processing trade finance transactions across all of its legal entities.

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Related Topix: Bank of America, Banking, Second Circuit Court of Appeals, US News

Vallejo Times-Herald

APNewsBreak: BofA reaches $17B settlement with US

Bank of America has reached a record $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said Wednesday.

Comment?

Related Topix: Home, Mortgage, Personal Finance, Foreclosures, Banking, CitiMortgage, Citigroup, JP Morgan Chase

The Toronto Star

Bank of America reaches $17 billion settlement with U.S.

Bank of America has reached a record $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said Wednesday.

Comment?

Related Topix: Home, Mortgage, Personal Finance, Foreclosures, Banking, CitiMortgage, Citigroup

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