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…
In a Senate hearing Tuesday, Bank of America vowed to improve its foreclosure operations to avoid more “robo-signing” documentation problems. The bank halted foreclosures in October amid allegations of faulty paperwork and did …
Flawed foreclosure paperwork could inflict huge losses on the nation’s top banks and spread chaos through the housing market, according to a congressional report.
Accusations that major mortgage lenders including Bank of America Corp. (BAC), used fla…
U.S. credit card delinquencies fell in October to the lowest levels of the year as more people were able to restart payments on their consumer debt, The Wall Street Journal reported, citing company filings.
Con…
Investment banks are working around new regulations restricting them from putting their own capital into short-term investments: The Wall Street institutions are sidestepping the Volcker Rule by making direct purchases of secur…