Seven world’s largest banks have announced on Tuesday settling a private lawsuit for $324 million filed in connection with ISDAfix scam. The settlement still requires court approval to get effective. Several other banking giants are yet to settle related lawsuits for the crimes committed during 2009 to 2012.
It is not quite often when news agencies are caught up in controversy for actually reporting a controversial topic. Just yesterday, the Wall Street Journal reported on federal regulators' rejection on several U.S. Banks based on their living wills which were submitted and the story reached the regulators which urged an investigation to kick off earlier today.
Switzerland's attorney general has seized more than 30 million Swiss francs ($32 million) in a criminal investigation linked to dairy group Parmalat and has charged an unnamed Italian citizen with money-laundering, bribery and forgery.
Hillary and Bill Clinton have earned at least $30 million since January 2014, including more than $25 million for delivering about 100 speeches, according to a government filing.
Big Wall Street banks are so upset with Democratic Senator Elizabeth Warren's call for them to be broken up that some have discussed withholding campaign donations to Senate Democrats in symbolic protest, sources familiar with the discussions said.
Securities and Exchange Commission Chair Mary Jo White told lawmakers on Tuesday the agency would not try anew to craft rules to make it easier for shareholders to nominate corporate directors but that she was closely watching activists' attempts to do just that.
Bank of America's Merrill Lynch brokerage unit agreed to pay a $2.5 million fine in Massachusetts to settle charges that it failed to follow its own compliance rules, the state's top securities regulator said on Monday.
Bank of America (BAC.N) must allow shareholders to vote on a proposal that calls for the company to consider spinning off its investment banking business, after U.S. regulators told the bank it cannot exclude the proposal from its corporate ballot.
Credit Suisse said on Friday it would put aside more funds for a U.S. probe and other litigation about whether the Swiss bank deceived investors in risky mortgage-backed securities it had issued in the run-up to the financial crisis.
For the last decade, Wall Street brokerages have had a pact not to sue brokers that leave their firms and try to take clients with them. Now Bank of America BAC.N Merrill Lynch, one of the founding signers of the truce, is taking steps to erode the agreement, industry lawyers say.
Subrata Roy, the boss of Indian conglomerate Sahara, is in a New Delhi prison on contempt-of-court charges and needs to post $1.6 billion in bail to get out. To help raise the money, Sahara is in talks to refinance its overseas hotels, including New York's Plaza.
An activist investor group said it is withdrawing a shareholder resolution that called for Bank of America to have an independent board chair, easing some of the pressure the bank faced after giving its Chief Executive Brian Moynihan the additional title of chairman last year.
Under pressure from its U.S. regulator, Bank of America has shifted its compliance group from its legal department to its risk oversight group, a source familiar with the matter said.
Ambac Assurance Corp sued Bank of America Corp to recoup hundreds of millions of dollars of losses from insuring roughly $1.68 billion of securities backed at least in part by risky mortgages from the bank's Countrywide Home Loans unit.
The U.S. credit union regulator said on Wednesday it filed a lawsuit against U.S. Bank and Bank of America over mortgage securities sold in the years leading up to the financial crisis.
A New York state appeals court on Tuesday revived a lawsuit accusing UBS AG [UBSN.VX] of fraudulently causing $331 million of losses from collateralized debt obligations issued before the financial crisis.
A court in Hong Kong on Monday adjourned the trial of a 29-year-old British banker charged with killing two women until later this month to allow for the suspect to undergo a psychiatric assessment.
A 29-year-old British banker has been arrested in Hong Kong in connection with the grisly murder of two women, a rare occurrence in a city known for its low homicide rate.
A group of funds that threw a monkey wrench in Bank of America Corp's (BAC.N) proposed $8.5 billion settlement with investors in mortgage-backed securities will object to JPMorgan Chase & Co's $4.5 billion offer to settle claims over similar investments, according to the lawyer that represents them.
A federal judge has put a landmark trial on Detroit's plan to exit bankruptcy on hold until Monday, as the city neared a deal with bond insurer Syncora Guarantee Inc, one of its most formidable hold-out creditors.
