Goldman, Morgan Stanley Settle Mortgage Complaints for $557 Million
Goldman Sachs and Morgan Stanley will pay a combined $557 million to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.
8 Massive Hack Attacks Aimed at Financial Data
The spread of financial services offered on the Web has led to an increasing number of hacking incidents, which put customer accounts, data and money at risk. Ace Private Risk Service's Gary Raphael offers some data security advice.
Is the Current Money System Due to Expire?
If history is a guide, our post-Bretton Woods system is likely to give way to a new one soon, and gold should rise a few more years, a bullion dealer says.
EC President Unveils Banking Union Plan
The plan laid out by President Jose Manuel Barroso would not only allow the ECB to supervise all eurozone banks, but would also give it jurisdiction over a broader, and at first voluntary, EU banking base.
China PMI Could See 9-Month Low
Should that happen, it is likely to increase pressure on the country’s central bank to boost easing measures.
New York Regulator Threatens to Suspend Standard Chartered Over Iran Dealings
The New York Department of Financial Services has warned the British bank Standard Chartered that it could be suspended from doing business in the state over charges that it violated money-laundering laws in dealings with institutions in Iran that are subject to U.S. economic sanctions.
Citi Adds 3 Advisors, $750M to Private Wealth
The news comes as Citi and Morgan Stanley dispute the value of their MSSB joint venture and Morgan Stanley continues to drop reps.
U.K. Recession Deepens
As the world counts down to the opening of the Olympic Games in London on Friday, Londoners—and others in Britain—are dealing with an economy that in Q2 of this year slowed considerably more than expected.
Traders May Face Criminal Charges Over LIBOR
U.S. and European authorities are said to be close to making arrests and bringing criminal charges in the LIBOR manipulation scandal.
Regulators Question Interest Rates From Sweden to Singapore
Regulators are questioning how interest rates are set across the globe—not just LIBOR and EURIBOR, but also various in-country rates.