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WASHINGTON | The U.S. government is expected to file civil charges against Standard & Poor's Ratings Services, alleging it improperly gave high ratings to mortgage debt that later plunged in value and helped fuel the 2008 financial crisis.
WASHINGTON | U.S. banks are ending the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008. They're helping support an economy slowed by high unemployment, flat pay, sluggish manufacturing and anxious consumers.
WASHINGTON | President Barack Obama has chosen Elisse Walter, one of five members of the Securities and Exchange Commission, to head the agency. Chairman Mary Schapiro will leave next month after a tumultuous tenure in which she helped lead the government's regulatory response to the financi…
WASHINGTON (AP) — U.S. banks are making money again, although a split picture of the industry has emerged since the financial crisis.
WASHINGTON | The financial overhaul bill awaiting final action in the Senate includes a new regulator whose aim is to make sure mortgages, credit cards and other products from big banks don't abuse or confuse you.
WASHINGTON | The head of the Securities and Exchange Commission told a congressional panel Tuesday that regulators need more time to figure out what caused last week's stock market plunge.
WASHINGTON | The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was collapsing.
WASHINGTON | The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering.
WASHINGTON | U.S. regulators fended off complaints Friday from lawmakers and small business owners that overly strict rules for banks have prevented crucial credit from flowing to where it is needed most.
WASHINGTON | Federal banking regulators are considering a plan to link the insurance premiums U.S. banks must pay to the degree of risk-taking encouraged by their executive compensation policies.
WASHINGTON | A key House lawmaker wants to make credit rating agencies -- which have been widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities that triggered the financial crisis -- responsible for each other's assessments by holding t…
WASHINGTON | Regulators expect the cost of bank failures to grow to about $100 billion over the next four years -- up from an earlier estimate of $70 billion. Faced with that sobering news, they voted Tuesday to require banks to prepay $45 billion in premiums to replenish an insurance fund t…
WASHINGTON | The agency that guarantees bank deposits said Thursday there are no immediate plans to borrow money from the government to bolster its insurance fund, which has shrunk under the weight of collapsing banks.
WASHINGTON | Federal regulators on Monday charged a New York brokerage firm said to be secretly controlled by Bernard Madoff and a prominent California investment adviser with securities fraud, accusing them of funneling billions of dollars from investors into Madoff's Ponzi scheme.
WASHINGTON | Federal regulators have been investigating and are close to filing lawsuits against companies believed to be behind a national wave of spam "robocalls" that warn people that their auto warranties are about to expire and they need to sign up for new service plans.
WASHINGTON | The Securities and Exchange Commission is considering how regulation of money-market mutual funds could be tightened to better protect investors, the head of the agency said Monday.
WASHINGTON | The head of the Federal Deposit Insurance Corp. said Thursday that the government's strategy in the financial crisis of bailing out huge institutions deemed "too big to fail" must be replaced by a new model.
WASHINGTON | U.S. home prices are only about halfway through their decline and most of the further erosion should occur this year, major bank economists said Tuesday.
WASHINGTON | Freddie Mac, the nation's No. 2 buyer and guarantor of home loans, lost $2 billion in the third quarter and said Tuesday it must raise fresh capital to meet regulatory requirements. Its shares fell nearly 30 percent.
WASHINGTON | It's hard to know how scared to be if you don't know the size of the threat. No, not terrorism, housing.
WASHINGTON | The Federal Home Loan Bank system has increased low-cost lending to financial institutions in an effort to bolster credit stability.
WASHINGTON | Fannie Mae and Freddie Mac have tightened their policies for purchasing high-priced, high-risk home loans from lenders amid stress in the housing market.
WASHINGTON | Mortgage finance giant Freddie Mac has committed to buy as much as $20 billion in mortgages to help borrowers with high-priced loans stay in their homes, the company's chief executive said Wednesday.
WASHINGTON | The heads of Fannie Mae and Freddie Mac said Tuesday the mortgage finance giants are developing new types of loans to help distressed borrowers with high-risk mortgages keep their homes at a time of rising foreclosures.
WASHINGTON | Charges of blame were flying Thursday for the meltdown of the high-risk mortgage market as pressure mounted for Congress to do something about rising foreclosures among homeowners unable to meet high payments.
WASHINGTON | The Securities and Exchange Commission is investigating a number of companies that operate in the troubled market for subprime mortgage loans, the agency's top enforcement official said Monday.
WASHINGTON | A key House lawmaker said Tuesday that Congress needs to consider making companies that manage 401(k) plans give clearer and more complete information on fees, which can drain thousands of dollars from a worker's retirement savings.
WASHINGTON | Mortgage finance giant Freddie Mac said Tuesday it will no longer buy high-risk home mortgages that it deems to be highly vulnerable to foreclosure, in a surprise move that came amid a deteriorating market for subprime loans affected by slumping home prices and rising interest rates
WASHINGTON | Profits at federally-insured banks and thrifts jumped 8.8 percent last year, to a record $145.7 billion, but slumping home prices and rising interest rates pushed banks' writeoffs of home mortgage loans to a three-year high in the fourth quarter, data released Thursday show.
Investors will soon have a new scorecard designed to lay out in plain English just how much pay and perks are being lavished on top executives at public companies. If the goals of federal regulators are met, you won't need an MBA to decipher the numbers.
WASHINGTON | Consumers are a bit more inclined to cut back on holiday spending than in recent years, concerned about energy costs and credit card debt.
WASHINGTON | Consumer borrowing fell in September by the largest amount since the recession of the early 1990s, weakened by a huge drop in auto loans.
WASHINGTON | Wholesale prices rose by 0.5 percent in June, spurred by a big jump in food prices and continuing increases in energy costs.
WASHINGTON | A record jump in the price of imported oil pushed the trade deficit to $63.8 billion in May, offsetting robust overseas sales gains by American companies.
WASHINGTON | Fannie Mae is in such a mess that it will take years for the mortgage giant to reform its ways and recover from an $11 billion accounting scandal, the top government official overseeing the company told lawmakers Thursday.
WASHINGTON | Home Depot Inc. calls a natural fit to expand its business. Wal-Mart Stores Inc. bills it as simply a cost saver. You could call it a new-fangled bank.
ARLINGTON, Va. | An executive of Wal-Mart Stores Inc. on Monday defended to federal regulators the company's proposed expansion of its empire into banking as a parade of objectors prepared to make the case against the move.
WASHINGTON | Mortgage giant Fannie Mae, struggling to untangle its accounting in an $11 billion scandal, disclosed Thursday that new errors have been uncovered as it reached outside the company to hire a new finance chief.
WASHINGTON | Some Democratic lawmakers and consumer advocates are seeking relief for Hurricane Katrina victims from a new, more stringent bankruptcy law that takes effect next month.
WASHINGTON | The big mergers planned by the New York Stock Exchange and the Nasdaq Stock Market will give them dominance in stock trading but likely will not hurt competition, the government's top securities regulator said Thursday.
WASHINGTON | Congress neared a final vote Thursday on legislation that would force tens of thousands of people who want to wipe out their debts in bankruptcy court to work out repayment plans instead.
WASHINGTON (AP) -- The Senate marched Wednesday toward passage of landmark legislation making it harder to erase medical bills, credit card charges and other debts in bankruptcy, rebuffing attempts by Democrats to soften the bill's effect and restrict practices of the credit industry.
WASHINGTON -- At turns defiant and emotional, Fannie Mae's top executive denied that the mortgage giant manipulated its earnings and questioned an investigative report as factually deficient regarding a key allegation.
WASHINGTON -- Franklin Raines is renowned for his political connections and his instincts for corporate survival. Those skills will be critical as the head of Fannie Mae fights to keep his job following an accounting scandal at the mortgage giant that finances one of every five home loans in…
WASHINGTON -- Under pressure from federal regulators, mortgage giant Fannie Mae has agreed to boost its reserve cushion against risk by several billion dollars and take other sweeping actions to correct what were cited as serious accounting problems, including recalculating key transactions …
WASHINGTON -- Regulators have discovered serious accounting problems at mortgage giant Fannie Mae, prompting an inquiry by the Securities and Exchange Commission and calling into question its financial soundness, the company disclosed Wednesday. Its shares fell nearly 7 percent.
WASHINGTON -- Bristol-Myers Squibb Co. is paying $150 million to settle a major alleged accounting fraud as federal regulators accused the company Wednesday of manipulating its inventory of drugs to inflate earnings and meet Wall Street targets.
WASHINGTON -- Italian dairy giant Parmalat, accused by U.S. regulators of one of the biggest financial frauds in history, on Wednesday agreed to make corporate reforms but was not fined in a settlement accord.
WASHINGTON -- The Securities and Exchange Commission proposed Wednesday to clamp new oversight on hedge funds, traditionally investment pools for the wealthy that regulators said are growing and largely unregulated.
WASHINGTON -- Mutual fund boards must have chairmen who are independent from the companies managing the funds, the Securities and Exchange Commission ordered Wednesday in a narrow vote as it addressed an industry scandal.
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