Financial Service 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.

The twin lawsuits, filed in federal court, are the latest fallout from the 2008 collapse of the subprime mortgage industry, which sparked a string of actions against various lenders by federal agencies and city governments.

The retirement of Peter Munk and a revamp of the board at Barrick Gold are seen as positive moves by a U.S. fund manager who has been critical of the gold miner, but he still has concerns.

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

The world's largest casino company is cautioning investors that Internet gambling might hurt, rather than help, its brick-and-mortar casinos.

Experts say super PACs could become magnets for a wide array for people potentially trying to make a quick buck off a candidate's name or novices looking to make their mark in politics.

President of European Central Bank, ECB, Mario Draghi speaks during a news conference in Frankfurt, Germany, Thursday, Dec. 5, 2013, following a meeting of the ECB governing council.

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.

Tokyo police on Thursday arrested a Deutsche Securities employee and a former Japanese client of the brokerage for suspected bribery after the Deutsche official allegedly spent thousands of dollars to entertain him.

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.

Rhode Island School of Design President John Maeda announced Wednesday that he will leave the Providence-based art and design school at the end of the year to take a job with a venture capital Firm in California.

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.

Mexican Economy Secretary Ildefonso Guajardo, left, talks with U.S. Trade Representative Michael Froman during the plenary session of the ninth Ministerial Conference of the World Trade Organization in Bali, Indonesia, Wednesday Dec. 4, 2013.

Royal Bank of Scotland and Barclays are among a raft of global banking giants involved in a record 1.7 billion euro settlement with European regulators in the latest rate-rigging crackdown.

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.

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

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

A 17-year-old Arizona girl and her two younger sisters hugged, touched each other's faces and talked about how they had all changed when they finally were reunited after their mother and stepfather kept them... A 17-year-old Arizona girl hugged her two younger sisters, touched their faces and talked about how they had all changed when they finally ... (more)

The unemployment rate could fall substantially early next year as belt-tightening in Washington throws more than a million long-term unemployed Americans off the benefit rolls.