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.
Jeremy White
Jan 05, 2012
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.
Roland Li
Jan 04, 2012
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).
Roland Li
Jan 04, 2012
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.
Sara Dover
Jan 04, 2012
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.
IBT Staff Reporter
Jan 04, 2012
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.
Moran Zhang
Jan 03, 2012
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.
Trevor Stokes
Jan 03, 2012
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.
IBT Staff Reporter
Jan 03, 2012
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.
Daniel Tovrov
Jan 03, 2012
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.
Brett Forman
Dec 31, 2011
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."
Ashley Portero
Dec 30, 2011
U.S. 30-year fixed-rate mortgage rates averaged 3.95 percent in the week ending Dec. 29, according to Freddie Mac.
Roland Li
Dec 29, 2011
You can’t blame Americans for wanting to drop investing in U.S. stocks like a bad habit as the new year begins. Is the Dow’s recent rise above 12,000 a buy signal or another false rally?
Joseph Lazzaro
Dec 29, 2011
A Wall Street Journal article making the rounds this morning notes some big investors have turned bullish on the housing market in the past quarter. Among the big names mentioned are hedge funds run by SAC Capital Advisors LP, Blackstone Group LP and Goldman Sachs Group.
Eleazar David Meléndez
Dec 29, 2011
The Securities and Exchange Commission won a delay in its securities fraud lawsuit against Citigroup Inc, as the regulator tries to appeal a judge's decision to reject its $285 million settlement with the bank.
IBT Staff Reporter
Dec 27, 2011
The U.S. Securities and Exchange Commission won a delay in its securities fraud lawsuit against Citigroup Inc, as the regulator tries to appeal a judge's decision to reject its $285 million settlement with the bank.
IBT Staff Reporter
Dec 27, 2011
An appeals court on Tuesday granted an appeal of a controversial ruling that moved consideration of Bank of America Corp's $8.5 billion settlement over mortgage debt to federal court.
IBT Staff Reporter
Dec 27, 2011
GE Capital, the financial services division of General Electric Co. (NYSE: GE), announced today that its wholly-owned bank affiliate, GE Capital Financial Inc. is acquiring MetLife Inc.'s (MET) U.S. retail deposit business as GE moves into online banking.
Moran Zhang
Dec 27, 2011
UBS will sacrifice its place in the top ten investment bank rankings as stricter capital rules force it to give up riskier fixed-income business, the Swiss bank's financial head said.
IBT Staff Reporter
Dec 23, 2011
UBS will sacrifice its place in the top ten investment bank rankings as stricter capital rules force it to give up riskier fixed-income business, the Swiss bank's financial head said.
IBT Staff Reporter
Dec 23, 2011
As the end of 2011 approaches, the housing market is another year removed from the subprime mortgage meltdown. But the legacy of the crash remains, as homeowners, lenders, regulators and brokers alike continue to deal with falling home prices, a glut of unprocessed foreclosures and an uncertain economy.
Roland Li
Dec 22, 2011
Taking a page from Judge Jed Rakoff: a month after a Securities and Exchange Commission settlement with Citigroup was rejected, federal judge in Milwaukee pressed the agency to explain its vague deal with a Wisconsin headphones manufacturer.
Dan Rivoli
Dec 22, 2011