SEC sues three former IndyMac executives for securities fraud
The U.S. Securities and Exchange Commission (SEC) has sued a former CEO and two former CFOs of failed mortgage lender IndyMac Bankcorp, accusing them of securities fraud.
FDIC sues Ga.-based law firm Smith Welch & Brittain for legal malpractice
The Federal Deposit Insurance Corp. (FDIC) has sued a law firm in Henry County, Georgia, and one of its partners, accusing them of professional negligence, legal malpractice and other misconduct related to multi-million dollar real estate loans that contributed to the 2009 collapse of Neighborhood Community Bank (NCB) in Newman.
Bank vs. Non-Bank Battle for Consumers Heats Up
Amid growing competition from non-banks, BB&T bank, which has locations primarily in the southeastern and mid-Atlantic U.S., is now offering a new prepaid checking account which comes with a Visa-branded debit card.
White House backs standard for mortgage servicers
The Obama administration favors creating a national standard for mortgage servicers such as Bank of America Corp and JPMorgan Chase & Co that have been accused of botching home foreclosure procedures.
FDIC proposes curbs on bankers bonuses
The Federal Deposit Insurance Corp. (FDIC) has proposed new rules that will mandate large financial institutions to delay payment of 50 percent of executive bonuses for a period of three years in order to discourage risky financial activities.
Eleven banks have already failed this year: FDIC
Eleven banks have already failed so far this year, according to the Federal Deposit Insurance Corp. (FDIC).
Bernanke forecasts 3%-4% GDP expansion for U.S.
Ben Bernanke, the chairman of the Federal Reserve Bank, said the U.S. economy is likely to grow by 3 percent to 4 percent in 2011 (a faster expansion than in 2010), but that such growth will not be sufficient to reduce unemployment to acceptable levels.
Treasury to sell remaining Citigroup stake through offering
The U.S. Department of the Treasury said it plans a public offering of its remaining 2.4 billion shares of Citigroup Inc. (NYSE: C) common stock.
Senator says mortgage crisis risk remains
Sen. Jim Bunning, R-KY expressed anger Wednesday that the potential for another mortgage crisis remains, despite efforts to deal with the mortgage crisis over the past decade.
Continous money printing will drive gold ever higher: An Interview with Mr. Rose, CEO of Capital Gold Group
With our debt coming to maturity in the next ten years, which we cannot afford to pay, printing money seems to be our only option, which we feel is going to spur inflation, if not hyperinflation. We also feel if we adjusted gold for the inflationary highs of the 80's, gold bullion should already be at $2,200 an ounce, so we feel very strongly about a further drive up in gold over the next five years.