The European Union’s planned tax on financial transactions should have a “broad base” covering equities, bonds, currencies and derivatives to ensure it can’t be evaded, the finance ministers of France and Germany said.
PNC Financial Services Group Inc. was on the brink of selling Jim Durden a foreclosed house in Weed, California, last month when the country’s biggest banks came under public fire for improperly seizing homes. Now, he lives in an EconoLodge .
Freddie Mac and its regulator, the Federal Housing Finance Agency, need to do a better job supervising financial institutions servicing the company’s loans, according to the FHFA Office of Inspector General.
Hedge fund FrontPoint Partners LLC employees were allegedly tipped by a French doctor working as a consultant for Human Genome Sciences Inc. on the results of trials for the hepatitis-C drug Albuferon, a person familiar with the matter said.
JPMorgan Chase & Co. and Goldman Sachs Group Inc. units were sued by two pension funds over claims they made misleading statements about the exposure of MF Global Holdings Ltd. securities to European sovereign debt.
Fannie Mae and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping Americans escape underwater loans while adding to losses at the mortgage giants bailed out with $190 billion of taxpayer money.
Bank of America Corp., the second- biggest U.S. lender, will buy back $330 million of home loans from Freddie Mac, the mortgage company seized by the government, after flaws were found in how they were created.