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.
SEC Enforcement: Smith & Wesson Fined $2 Million for Bribery
In more actions, a judge ordered Bank of America to pay $1.27 billion for a mortgage "hustle."
Top Portfolio Products: Incapital Launches Farmer Mac Notes Program
Meanwhile, a new partnership between PwC and Salesforce.com allows wealth managers to use the cloud for numerous functions.
Bob Rodriguez Warns of Fiscal Nightmare Unless GOP Takes Senate
FPA's Bob Rodriguez warns that America’s fiscal fuse is nearing its end unless U.S. voters stage a revolt in midterm elections.
More Than 1,000 Advisors Attending Morningstar Conference; Gross, Asness Highlight Speakers
Also, Rick Ferri will dialogue with Chris Brightman of Research Affiliates—beehive of smart beta—on alternative indexing: desirable for honey or dangerous for its sting?
Senators Vow More Work on Housing After Voting to Wind Down Fannie, Freddie
Members of the Senate Banking Committee said they’d keep working to overhaul the housing finance system after casting a narrow vote to advance the bill.
Gundlach: Long Bond ‘Melt-Up’ Coming
Star bond manager Jeffrey Gundlach roused Altegris conference attendees with a bullish call on long-term bonds, poised, he says, for a “melt-up.”
Sales of Existing U.S. Homes Fall for Third Straight Month
Sales of previously owned homes fell in March for the third consecutive month as rising prices and cold weather discouraged would-be buyers.
Ryan Budget Seeks to ‘Tighten’ SEC’s Belt
But SEC Chairwoman Mary Jo White told lawmakers the same day that there was "an immediate and pressing need" for more funding for advisor exams.
BofA to Pay $6.3 Billion to Fannie, Freddie Over RMBS Failures
Bank of America reached a settlement Wednesday to resolve all of the Federal Housing Finance Agency's residential mortgage-backed securities litigation with the bank.