The crisis could hit bank earnings in several ways, not all of them directly related to the foreclosure problem. One big risk is “putbacks,” the faulty loans banks could be forced to repurchase. JPMorgan puts that cost at up to…
Why hasn’t Mad Men been picked up for another season? Matthew Wiener, the show’s creator, isn’t sure. All he could say at the screening of the star-studded finale for the show was that it has something to do with money. Transla…
Five of the six largest U.S. issuers of credit cards reported a drop last month in then percentage of credit-card balances deemed uncollectable. The drop suggests consumers may be making headway in their efforts to pay off thei…
JPMorgan Chase says it’s doubling its review of foreclosure documents to some 115,000 cases, which could slow foreclosures in 41 states. Meanwhile, officials in all 50 states have launched a joint investigation into the allegat…
U.S. regulators voted in favor of limiting financial institution ownership of derivatives clearinghouses, exchanges and trading platforms to 20% and capping ownership of venues that clear securities-based swaps at 40%.
…