Lender Processing Services Inc. is in talks with regulators that could lead to a settlement of more than $200 million over improper and fraudulent foreclosure paperwork after the 2008 credit crisis, according to people briefed on the discussions.
The Federal Reserve has decided to delay imposing limits on leverage at eight of the biggest U.S. financial institutions until a global agreement is completed, according to two people briefed on the discussions.
Isabel Santamaria thought she finally caught a break in her effort to save her Florida home from foreclosure after nine frustrating months: She reached Bank of America Corp.’s Office of the CEO and President.
JPMorgan Chase & Co., the target of multiple U.S. Justice Department investigations, tentatively agreed to pay about $2 billion to resolve probes into whether it ignored warning signs about Bernard Madoff’s crimes, according to a person briefed on the matter.
Former Washington Mutual Inc. Chief Executive Officer Kerry Killinger and two other bank officials are in settlement talks with the Office of the Comptroller of the Currency, the last chapter in the government’s probe of the largest U.S. bank failure.
Morgan Stanley is seeking regulatory approval to make financial advisers dual employees of its bank subsidiary in addition to the broker-dealer as the firm increases mortgage lending, a person briefed on the matter said.
The Office of Comptroller of the Currency said yesterday that it is examining JPMorgan Chase & Co.’s activities and evaluating their transactions following a $2 billion loss that shook up bank leadership.
After a deadline-inspired surge, nearly 500,000 borrowers are seeking formal reviews of their 2009 and 2010 foreclosures for mistakes by lenders, the U.S. Office of the Comptroller of the Currency reported.
U.S. financial regulators are looking at specific non-bank financial companies to possibly designate them as systemically important and subject to more rigorous supervision, said Michael Gibson, director of the Division of Banking Supervision and Regulation at the Federal Reserve Board.
JPMorgan Chase & Co.’s individual trades that led to a $2 billion loss weren’t monitored by the Office of the Comptroller of the Currency, which said it didn’t expect to be notified about the positions.