The location of the National Credit Union Administration suits its place in the hierarchy of U.S. financial regulators. Unlike its better-known peers, which are all clustered near the Capitol or the White House, the agency is a 20-minute drive from downtown Washington in good traffic.
Fannie Mae will pay the Treasury Department $7.2 billion after posting an eighth straight quarterly profit, pushing total dividend payments above the $116.1 billion of aid it received after the financial crisis.
JPMorgan Chase & Co. and General Electric Co.’s finance arm had their smallest Samurai-bond sales in more than nine years as a global stock rout damped investor demand for debt that offered investors record-low yields.
Morgan Stanley and JPMorgan Chase & Co. agreed to pay $1.86 billion to end U.S. accusations of misconduct in their handling of home loans and related securities that left taxpayers shouldering losses after the financial crisis.
Credit Suisse Group AG, the second- biggest Swiss bank, posted fourth-quarter profit that missed analysts’ estimates after setting aside 514 million Swiss francs ($568 million) for U.S. tax and mortgage litigation.
Morgan Stanley agreed to pay $1.25 billion to settle a U.S. regulator’s claims the investment bank sold faulty mortgage-backed securities to Fannie Mae and Freddie Mac that added to their losses in the financial crisis.
Chances that Congress will move this year to wind down or transform Fannie Mae and Freddie Mac are dimming as lawmakers confront a split among Senate Democrats and a change at the regulator of the mortgage finance companies.
Hundreds of millions of dollars in mortgage-fraud settlements from JPMorgan Chase & Co. and other banks are providing a windfall to state attorneys general -- and creating a new class of political winners and losers.
Bank of America Corp.’s Countrywide unit should pay the maximum of $2.1 billion in penalties for selling defective mortgage loans to Fannie Mae and Freddie Mac in the run-up to the 2008 financial crisis, the U.S. said.