Banker Deaths Worry Industry as Coroners Probe
London coroners are preparing to investigate two apparent suicides as unexpected deaths around the world have raised concerns about mental health in the finance industry.
Stress Test Shows 29 of 30 Banks Meet or Top Capital Target
The Federal Reserve’s annual stress tests found 29 of the 30 largest U.S. banks could withstand a deep recession and still pay dividends, fueling speculation about which firms will win approval next week to raise payouts.
BofA Should Pay $2.1 Billion in Fraud Case, U.S. Says
BofA’s Countrywide unit should pay the maximum of $2.1 billion in penalties for selling defective mortgage loans to Fannie and Freddie, the U.S. said.
Citigroup Earnings Miss as Bond Trading Slump Slows Recovery
Net income at Citigroup more than doubled to $2.69 billion from $1.2 billion a year earlier.
Goldman Reports Highest Profits in 3 Years
Underwriting revenue at Goldman Sachs surged to a record, and the firm’s reliance on trading fell to the lowest level in more than a decade.
Banned Stocks Held by SEC Employees Trigger Agency Ethics Review
SEC attorneys are reviewing the stock holdings of about 3,400 employees after some New York staffers were found to own securities prohibited by ethics rules.
JPMorgan CEO Meets With Attorney General Amid MBS Charges
A government official familiar with ongoing negotiations said an $11 billion national settlement is under review to resolve claims against JPMorgan.
Freddie Mac Sues Big Banks Over LIBOR
Government-owned Freddie Mac accuses the banks, including Bank of America, of acting collectively to hold down the U.S. dollar LIBOR.
UBS Could Shake Up Investment Bank
UBS is considering a revamp of its investment bank that could see it granting more responsibility to Andrea Orcel, co-head with Carsten Kengeter, and less to Kengeter, according to sources familiar with the matter.
Six Banks Set LIBOR
In the wake of the scandal that revealed LIBOR under manipulation by banks all over the world, the benchmark lending rate is suffering a credibility gap even as a smaller core group of banks contributes to setting the rate.