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18 Aug 2011, 9:35 am by By NELSON SCHWARTZ
Ron Sturzenegger was tapped to run Bank of America Merrill Lynch's Legacy Asset Servicing division, which includes tens of billions of dollars of mortgage assets and home loans that are delinquent or in default. [read post]
11 Jul 2010, 10:25 am by Securites Lawprof
Bank of America Corp., in a letter to the SEC, admitted to making six transactions that concealed billions of dollars of debt, in order to cut the size of a unit's balance sheet and meet internal financial targets. [read post]
1 Sep 2011, 11:12 am by By THEO FRANCIS, FOOTNOTED
Kelly stands to collect tens of millions of dollars on his way out as chief of Bank of New York Mellon, despite a successful shareholder initiative to limit executive severance. [read post]
29 Jun 2021, 6:55 am by Associated Press
Recently freed from regulators' coronavirus restrictions, the largest U.S. banks on Monday announced plans to return tens of billions of dollars to their shareholders over the next year in the form of dividends and stock buybacks. [read post]
4 Aug 2009, 4:06 am
The Securities and Exchange Commission (SEC) has charged Bank of America (BofA) of lying to investors and misleading them about billions of dollars in bonuses being paid to Merrill Lynch executives at the time of its acquisition of the firm. [read post]
16 Jan 2009, 4:36 am
According to The Financial Times, the hedge fund is returning only 3 cents on the dollar to investors, less than anticipated when bank decided to wind up the fund last year. [read post]
29 Nov 2007, 4:22 am
National Australia Bank, the nation’s largest bank, agreed to buy U.S. [read post]
9 Oct 2008, 10:07 pm
In a twist, the billionaire financier George Soros, who in 1992 was called "the man who broke the Bank of England," for his multibillion-dollar bet against the British pound, could in 2008 end up helping the ailing British banking system get back on its feet with his ideas. [read post]
12 Jun 2012, 11:14 am by Mike Scarcella
ING Bank, according to the government, told sanctioned clients about how to conceal their involvement in U.S. dollar transactions and the bank also threatened to punish employees for failing to remove references to payment messages. [read post]
28 Jan 2010, 1:07 pm by admin
The Swiss banking industry is being hit particularly hard right now by some high-profile whistleblowers. [read post]
18 Jul 2010, 9:59 am
On July 9, an investment firm that lost $1.2 billion dollars in mortgage backed securities sued Bank of America, Barclays, Credit Suisse, Bear Stearns (now a part of JP Morgan Chase), Citigroup, Goldman Sachs, Morgan Stanley, UBS and Deutsche Bank, in Massachusetts State Court for fraud for selling securities they knew were doomed to fail due to a lack of underwriting and oversight in the mortgage lending industry. [read post]
19 Nov 2021, 8:58 am by Tom Smith
President Joe Biden's nominee to regulate banks stole hundreds of dollars of merchandise from a discount retail store, according to a police report revealed Wednesday. [read post]
3 Aug 2018, 11:37 am by Stephanie Abbott
SAN FRANCISCO ­— Two former senior executives at Sonoma Valley Bank and an attorney for one of its biggest borrowers were sentenced to prison Friday for their roles in defrauding the bank, costing taxpayers and investors millions of dollars when it collapsed in 2010. [read post]
24 Sep 2007, 4:00 am
Britain's Treasury chief, Alistair Darling, told the Labor Party's annual convention on Sunday that Britain would not protect businesses that make bad judgments, despite a billion-dollar rescue of a struggling bank. [read post]
30 May 2010, 1:01 pm by Gallagher & Associates Law Firm
The securities have been widely blamed for the mortgage crisis and costing investors billions of dollars in losses. [read post]
10 Nov 2014, 11:52 am by Bloomberg
Barclays Plc and HSBC Holdings Plc were among six banks sued by U.S. soldiers and their relatives over claims they helped Iran process billions of dollars in transactions and support terrorists who attacked them while serving in Iraq. [read post]
4 Jun 2012, 9:42 am
Abacus Federal Savings Bank and 11 of its former employees in a false document mortgage fraud scheme resulting in the sale of hundreds of millions of dollars worth of fraudulent loans to the Federal National Mortgage Association have been indicted. [read post]
21 Dec 2006, 11:25 am
The Chicago Mercantile Exchange said Thursday that its proposed $8 billion merger with the Chicago Board of Trade is still on track to close in mid-2007, which is good news for the investment banks who stand to reap multimillion-dollar fees from their work on the deal. [read post]