Bank of America Granted Penalty Relief After SEC Compromise
The SEC has resolved an impasse over punishing Bank of America in a mortgage case, clearing the way for a $16.7 billion global settlement.
Brent Crude Futures Rise From 4-Year Low; WTI Oil Rebounds
Brent crude climbed from the lowest level in almost four years on speculation prices decreased more than justified.
Saudis Sitting Pretty in Global Oil Price Plunge
There’s still only one country in a position to choose winners and losers in the global market: Saudi Arabia.
S&P 500 Pares Biggest Loss Since 2011; Bonds Trim Rally
Jittery markets go through wild ride but recover at close. S&P lost 3% but ended day down 0.8%.
BofA to Pay $7.65 Million SEC Penalty Over Capital Overstatements
Bank of America will pay millions on claims that it overstated its capital by billions after failing to report losses tied to Merrill buy.
Fed Keeps ‘Considerable Time’ Pledge as Growth Is ‘Moderate’
The Federal Reserve maintained a commitment to keep interest rates near zero for a “considerable time” after asset purchases are completed.
European Stocks Rise With Bonds as Euro Slips on ECB Stimulus
The European Central Bank unexpectedly cut interest rates and announced a bond-buying program.
BofA to Pay $16.65 Billion to End U.S. Mortgage Probes
The settlement, which includes $7 billion in consumer relief and a $5 billion penalty, is the harshest penalty yet related to the 2008 financial crisis.
BofA Q2 Earnings Tumble on $4 Billion Expense for Litigation
Bank of America spent $4 billion in the second quarter to cover litigation costs, including a mortgage settlement with American International Group.
U.S. Stocks Fluctuate With Treasuries on Fed Comments; Oil Drops
U.S. stocks fell as the Fed said valuations for smaller companies in social media and biotech appear “substantially stretched.”