Federal Reserve Governor Sarah Bloom Raskin on Saturday said the Fed must impose monetary penalties on banks who entered into an April agreement with regulators over how to fix problems in their mortgage servicing businesses.
Federal Reserve Gov. Sarah Bloom Raskin said on Saturday the Fed must impose monetary penalties on banks that entered into an April agreement with regulators over how to fix problems in their mortgage-servicing businesses.
Three top Federal Reserve officials aggressively pushed on Friday for more stimulus for the U.S. housing market, saying the government should be looking at ways to help the sector for the purpose of speeding the country's economic recovery.
Hedge fund manager John Paulson lost more than half of the capital in one of his firm's biggest funds, people familiar with the number said Friday.
The times and trends are always changing, and some benefit consumers while others do not. But the shopping Web site dealnews did a good job in recent days noting things that will be less expensive and more expensive in 2012. Among the items that will get cheaper in 2012, according to dealnews, is wine and homes.
Fitch Ratings has downgraded the sovereign credit rating of Hungary to “junk” status, making it the third rating agency to do so.
A brewing crisis in the Middle East is causing an almost daily uptick in oil prices but early signs of a rebound in the U.S. economy is indeed offering substantial tailwind to crude too.
In his first full day as chief of the Consumer Financial Protection Bureau, Richard Cordray sought to lower the political heat around the agency, saying it would earnestly get to work targeting all the bad actors in the lending industry.
Bank of America Corp shares surged more than 7 percent on Thursday, outpacing other U.S. banks on a day of positive job news.
Rick Santorum, fresh from his Iowa Caucus victory, accused President Obama for thinking he's above the law Thursday for making Richard Cordray the head of the Consumer Financial Protection through a recess appointment.
The average U.S. 30-year fixed-rate mortgage rate dropped to 3.91 percent, matching an all time low, in the week ending on Dec. 5, according to Freddie Mac.
The Consumer Financial Protection Bureau will wield broader powers to crack down on formerly unregulated sectors of the economy that include payday lenders and mortgage brokers after President Barack Obama installed Richard Cordray as head of the nascent agency.
The Federal Reserve released a report on Wednesday that called for changes to foreclosure processing and an expanded role for Fannie Mae and Freddie Mac to bolster the still-struggling U.S. housing market.
U.S. mortgage applications fell 3.7 percent in the week ending Dec. 30, compared to the week ending Dec. 16, according to the Mortgage Bankers Association (MBA).
U.S. President Barack Obama is naming Richard Cordray to be the country's chief consumer watchdog through a recess appointment, despite stubborn GOP opposition.
Demand for loans to buy homes and refinance mortgages slid in the final week of 2011, even as mortgage rates dipped, an industry group said on Wednesday.
Bank of America Corp. (NYSE:BAC) lost a key ruling against MBIA Inc. (NYSE:MBI), which granted the latter company court permission to pursue further legal action against Bank of America, Bloomberg reported Tuesday.
Wesley Durden isn't the first reality star who died by suicide. Many others have fallen under the bright light of reality television only to commit suicide after the television cameras leave.
JPMorgan Chase & Co has been sued for $95 million by the trustee for securities marketed in 2005 by the former Bear Stearns Cos over alleged misrepresentations regarding the underlying mortgage loans.
German President Christian Wulff is now in even more trouble after reports surfaced that he threatened news outlets against running stories on his loan scandal.
Ask any behaviorist: Resolutions rarely work. They are too big and sweeping. The minute you fall off the bandwagon, you abandon attempts to climb back on, mostly because you're too busy hating yourself.
Ken and Meredith Williams produced a satiric YouTube video warning Bank of America, "Don't let anybody tell you you're too big to fail, cause you belong in jail."
