Financial Service News

Federico Buenrostro Jr., the former chief executive of California Public Employees' Retirement System, entered his plea in San Francisco federal court.

The U.S. government ran a monthly budget surplus in June, putting it on course to record the lowest annual deficit since 2008.

Meat is displayed in a case at a grocery store in Miami. The index of retail prices for meats, poultry, fish and eggs was up 7.7 percent from a year ago more than triple the overall inflation rate.

In this Wednesday, Dec. 19, 2012, file photo, a man walks past a Wells Fargo location in Philadelphia.

Freddie Mac says the average rate on a 30-year fixed-rate mortgage in the week ending July 10 was 4.15 percent, up from 4.12 percent last week.

A currency trader passes by screens showing the Korea Composite Stock Price Index, left, and the exchange rate between the U.S. dollar and the South Korean won at the foreign exchange dealing room of the Korea Exchange Bank headquarters in Seoul, South Korea, Friday, July 11, 2014.

's stock had its "equal weight" rating reaffirmed by equities research analysts at Morgan Stanley in a research note issued to investors on Thursday.

The riskiest money-market mutual funds will have to let their share prices fluctuate and charge investors withdrawal fees during times of stress under tougher U.S. rules set for adoption this month.

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)

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.

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.

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

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.

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

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.

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

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

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.

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

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.