Mike Thomas, a retired salesman for a truck manufacturer, says odds are that he’ll stop driving 45 minutes five days a week from Ohio to play slot machines at Hollywood Casino in Lawrenceburg, Indiana.
Bank of New York Mellon Corp., the world’s largest custody bank, is in early stage talks with federal prosecutors to settle accusations the bank overcharged customers for foreign-exchange trading, according to a person briefed on the discussions.
U.S. regulators have subpoenaed MF Global Holdings Ltd.’s auditor, PricewaterhouseCoopers LLP, requesting information on the segregation of assets belonging to clients trading on U.S. commodity exchanges, according to a person briefed on the matter.
U.S. rating companies face tarnished reputations and legal and regulatory risk after they failed to warn investors about the dangers of complex financial products that contributed to the financial crisis, Greenlight Capital Inc. President David Einhorn said.
The U.S. Senate approved a proposal to let regulators decide who rates asset-backed securities after investors said Standard & Poor’s and Moody’s Investors Service inflated assessments of mortgage bonds because the companies were paid by Wall Street firms selling the debt.