by | Sep 21, 2010 | Towing
Bank of America (BAC) is reportedly laying off as many as 400 people as revenue from trading and advising clients falls.
Bank of America, the country’s largest bank by assets, is laying off people ranging from junior analysts to managing directors, Bloomberg News said without naming its sources.
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“This sounds like an acceleration of the usual year-end cutbacks among the lowest…
Continue reading Bank of America Reportedly Planning Layoffs
Bank of America Reportedly Planning Layoffs originally appeared on DailyFinance on Tue, 21 Sep 2010 07:02:00.
Filed Under: Company News, People, Investing, Bank of America, Credit
by | Sep 17, 2010 | Towing
Citigroup (C) plans to sell its student-lending unit Student Loan Corp. to a consortium including Sallie Mae as early as today, The New York Post reported.
Citigroup owns 80% of the company, with another 20% being publicly traded. It is the country’s second-largest student lender, after Sallie Mae.
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The deal could see Sallie Mae and another company offer as much as $600 million to…
Continue reading Citigroup May Sell Student Loan Corp. to Sallie Mae Consortium
Citigroup May Sell Student Loan Corp. to Sallie Mae Consortium originally appeared on DailyFinance on Fri, 17 Sep 2010 08:45:00.
Filed Under: Company News, Economy, Investing, Citigroup, Taxes, Credit
by | Sep 17, 2010 | Towing
Angelo Mozilo, former CEO of Countrywide Financial, must face trial on charges he misled investors about the risks associated with subprime lending, a judge in Los Angeles ruled.
U.S. District Judge John F. Walter denied reques…
by | Sep 16, 2010 | Towing
Regulators may outline new rules to target so-called window dressing, a practice that some banks use to temporarily reduce their debt levels before reporting their finances.
The SEC is scheduled to raise the matter at a meeting on Friday, then issue …
by | Sep 16, 2010 | Towing
Four of the top six credit card issuers reported an increase in the number of debts they they wrote off as uncollectable in August. But there were a few positive signs as well.
Continue reading Uncollectable: B…
