U.S. agencies trying to ensure the financial system is strong enough to withstand another crisis have settled on one of the last pieces of their regulatory apparatus to limit the size of bank debt, according to two people briefed on the discussions.
Bank of America Corp., Citigroup Inc. and Credit Suisse Group AG were among 16 of the world’s biggest banks sued by the U.S. Federal Deposit Insurance Corp. for allegedly manipulating the London interbank offered rate from 2007 to 2011.
Customers of IndyMac Bancorp Inc., the California mortgage lender that failed two years ago, would recover some of their $265 million in lost deposits under a proposal offered by House lawmakers to the financial-overhaul bill.
Washington Mutual Inc. filed a revised reorganization plan yesterday in anticipation of tomorrow’s hearing on the explanatory disclosure statement. The modified plan is based on an amended proposal for a global settlement with the Federal Deposit Insurance Corp., JPMorgan Chase & Co . and creditor groups.
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.
JPMorgan Chase & Co., the bank that incurred a $6.2 billion trading loss last year, will elect Linda B. Bammann and Michael A. Neal to its board and named Lee R. Raymond as lead independent director, giving him more powers.
Developer Norman Radow expected some thanks in April when he offered to repay a $35 million defaulted loan on a 32-story San Diego condominium project he had taken over, originally financed by failed Corus Bank. Instead, his new lender urged him to keep the money.
Bank of America Corp. and its Countrywide Home Loans unit were accused of racketeering in a lawsuit filed by two Indiana residents claiming that perjured affidavits were used to foreclose on their home.