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Commercial lender CapitalSource Inc has hired a financial advisor to explore a potential sale of the company, the Wall Street Journal reported, citing people familiar with the matter.

Stocks advanced on Wednesday as a much stronger-than-expected rise in private sector employment boosted optimism about the outlook for the economy and stocks.

The five largest mortgage loan servicers, including Bank of America Corp and JPMorgan Chase & Co, may be the first to settle with 50 state attorneys general who are investigating foreclosure practices, Bloomberg reported, citing Iowa Attorney General Tom Miller.

JPMorgan Chase & Co and Barclays Plc dropped their opposition to MBIA Inc's plan to restructure its businesses.

General Motors Co shares rose as much as 3.1 percent and closed 2.1 percent higher on Tuesday after banks resumed coverage of the automaker with high marks for its strong post-bailout balance sheet and its position in emerging markets.

Washington Mutual Inc reached agreement to extend a key deadline in its $10 billion settlement that is at the end of its plan to end its bankruptcy, according to a court filing on Tuesday.

General Motors Co shares rose as much as 2.5 percent in midday trading on Tuesday after banks resumed coverage of the automaker with high marks for its North American sales and position in emerging markets.

JPMorgan took a hit in its equity capital markets business in 2010 even though its dominance in debt markets allowed it to cling on to the global top spot for investment banking fees.

Stocks rose on Wednesday on strength in financials, putting the S&P 500 on the path for a fifth-straight session of gains and lifting it to levels not seen since before Lehman Brothers Holdings' bankruptcy.

A judge said on Monday she needs more time to rule on Washington Mutual's $10 billion deal aimed at bringing the company out of bankruptcy, and asked the parties to extend a key deadline, according to court documents.

Securities regulators have broadened their inquiry into the mortgage industry, asking big banks about the early stages of securitizing home loans, two sources familiar with the probe said.

U.S. regulators have opened a new line of inquiry in their mortgage foreclosure probe and are asking big Wall Street banks about the beginning stages of mortgage securitization, two sources familiar with the probe said.

Credit card delinquency rates fell at major U.S. lenders in November as fewer consumers fell behind on their bill payments, signaling they are recovering from the stress of the financial crisis.

U.S. investment bank JPMorgan said it does not hold more than 90 percent of copper stock warrants in London Metal Exchange warehouses, but declined on Tuesday to comment on whether it had a smaller position.

European equities will beat 2010 gains by the end of next year, as companies get some help from better earnings and record-low interest rates that will overcome the sovereign debt crisis, Bloomberg said, citing a survey of 13 strategists.

Bank of America Corp will pay $137 million to settle a municipal bond bid-rigging probe which is likely to result in more cases being filed in the coming weeks and months.

A Pennsylvania-based law firm has been sued for using non-lawyers to review, sign and file foreclosures that caused people to lose their homes.

Washington Mutual Inc defended on Thursday its plan to repay creditors, while an attorney for disgruntled shareholders attacked the proposal because it leaves them with nothing.

New York Fed President William Dudley said loose monetary policy from the Federal Reserve was not the chief cause of the subprime mortgage crisis.

Paulson & Co., the hedge fund managed by John Paulson, reduced its positions in key financial holdings Bank of America Corp. (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC) and Citigroup Inc. (NYSE: C) in the third quarter

Home foreclosures in the U.S. in October fell by 9 percent primarily because some major banks temporarily froze foreclosure proceedings and delayed sales of foreclosed properties nationwide after being criticized for shoddy paperwork, according to real estate data company RealtyTrac.

One of the predominant economic issues of our day has to do with the “offshoring” or “outsourcing” of American jobs overseas, particularly to developing economies like India and China where costs of labor are significantly less, thereby undermining efforts to reduce the stubbornly high U.S. jobless rate (currently at 9.6 percent)

An influential U.S. senator on Tuesday raised the prospect of an industry-wide moratorium on foreclosures as he pressed three banks accused of fraudulent practices to outline steps they are taking to fix their procedures.

Wall Street banks facing dwindling trading volumes may find that they have just one option left to boost profits: paying less of their revenue to many of their employees.

Connecticut's attorney general on Friday called on state courts to freeze home foreclosures for 60 days after borrowers claimed that major lenders may be making misstatements in the foreclosure process.

The United Auto Workers health care trust and the governments of Canada and Ontario may not participate in General Motors Co's upcoming IPO in order to avoid taking a cut on the price of their shares

For big U.S. banks, Basel III will likely have limited impact in the short-term because of its generous phase-in timeline

M&A talk among the travel, telecoms and mining sectors helped Britain's top shares to their biggest daily gain in almost two months on Wednesday, as strong manufacturing data from the U.S. and China boosted sentiment.

U.S. regulators did not grant Lehman Brothers the same assistance as its competitors, knocking out the possibility of an orderly unwind of the firm and aggravating the global crisis, former Lehman Chief Executive Dick Fuld said on Wednesday.