Gone are the days when the governor of the Bank of England was a one-club golfer, equipped only with interest rate. Mark Carney has a full set of custom-made gear to prevent the UK from veering off the fairway and into the deep rough.
Former Bank of America Chairman Kenneth Lewis agreed to a three-year ban on serving as a public company’s officer or director and to pay $10m to settle claims by New York’s attorney general that he misled investors about the bank’s 2009 purchase of Merrill Lynch.
The Bank of England has said it is poised to take fresh steps to slow down Britain's housing market if the pickup in prices and mortgage demand threatens a new property bubble.
New York Attorney General Eric Schneiderman and three major regulators are investigating allegations made in a federal court case that Wells Fargo has set up detailed internal procedures to fabricate foreclosure papers on demand.
Fabrice Tourre, the former Goldman Sachs trader who reaped millions of dollars on Wall Street before a federal investigation derailed his career and redefined him as both a symbol and a scapegoat of the financial crisis, is now losing a piece of that small fortune to the government.
The Bank of England's base rate would peak close to 3% to protect mortgage payers from a big increase in monthly interest payments, a senior Bank of England official said.
A New York state judge on Friday approved most of Bank of America's $8.5 billion settlement with investors in mortgage securities, which would resolve much of the bank's liability from its acquisition of Countrywide Financial during the financial crisis.
Interest rate rises would tip millions of already-precarious households into financial disaster, according to economists, who warn it would cost the average family nearly £3,000 a year in extra mortgage payments if rates returned to levels that were typical before the credit crunch.
Citigroup paid $250m to taxpayer-owned Fannie Mae and Freddie Mac to settle a lawsuit over soured mortgage securities, the regulator of the two housing finance firms said on Thursday.
Isabel Santamaria thought she finally caught a break in her effort to save her Florida home from foreclosure after nine frustrating months: She reached Bank of America's Office of the CEO and President.
The governor of the Bank of England has issued a blunt warning to potential home-owners that they must be able to pay their mortgages when interest rates go up and not rely on being bailed out of any future difficulties by rising house prices.
This seems pretty drastic.
Just when you thought it was safe to go back in the water....