Bank of America Corp. (BAC) is the subject of a lawsuit that accuses the bank of hiding foreclosure problems that contributed to a drop in its share price.
The suit, filed by a union benefit plan, says Bank of America concealed problems in its record…
Bank of America (BAC) said talks will continue with bondholders who are demanding it buy back securities backed by billions of dollars of bad mortgages.
Bank of America has been in talks with investors including Pacific Investment Management Co (Pimc…
The federal governments bailout program has earned the taxpayer nearly $35 billion in the last two years, The Associated Press said.
Income from the Troubled Asset Relief Program (TARP) rose by almost 17% through November compared with the estimate i…
Five U.K. banks may have to pay hundreds of millions of pounds in a levy that aims to charge them for the risks they pose to the country’s economy.
The planned bank levy will raise a total of 2.5 billion pounds ($3.59 billion) a year from 2012 onwards, The Wall Street Journal said.
The levy has two goals, according to Financial Secretary to the Treasury, Mark Hoban.
“First, ensuring…
Continue reading U.K. Banks Face Government Levy
U.K. Banks Face Government Levy originally appeared on DailyFinance on Thu, 09 Dec 2010 09:02:00.
Filed Under: Company News, Taxes, Credit
The financial headlines of the last several months have shown large banks making near-record profits, and small banks being closed at a pace of three or four per week. The FDIC has released its comprehensive report on the indus…