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…
In a case with wider implications for the financial industry, jurors in a class-action securities fraud suit found that BankAtlantic Bankcorp was liable to shareholders for about $42 million for making false statements about th…
The Federal Reserve has set a Jan. 7 deadline for the largest banks to prove they have the capital to withstand another financial crisis. Bank of America, JPMorgan Chase, Citibank and 16 others will have to file so-called “stre…
The Federal Deposit Insurance Corp sued 11 former executives and directors of a failed bank as it works to recover as much as $2 billion suffered by one of its funds during the financial crisis.
The FDIC filed the lawsuit in the U.S. District Court of…
Industrial & Commercial Bank of China, the Asian country’s largest lender, bought a U.S. unit of Fortis Securities for $1.
ICBC is the world’s largest bank by market value and is 70% owned by the Chinese government, The Wall Street Journal said. ICBC bought the unit from France’s BNP Paribas (BNPQY).
The unit is small, with 75 existing customers and a balance sheet of $10…
Continue reading China’s ICBC Buys Fortis U.S. Unit for $1
China’s ICBC Buys Fortis U.S. Unit for $1 originally appeared on DailyFinance on Mon, 01 Nov 2010 08:30:00.
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