Bank of America Corp., plagued by complaints about customer service in its mortgage unit, said it hasn’t yet refinanced a “significant number” of loans as part of the industry’s $25 billion settlement of foreclosure abuses.
UBS AG , Switzerland’s largest bank, agreed to pay $160.2 million to settle charges it rigged bids on at least 100 U.S. municipal-bond transactions that generated “millions of dollars in ill-gotten gains.”
U.S. states probing foreclosure practices revised a nationwide settlement proposal after banks and eight Republican attorneys general objected to mortgage loan principal cuts, two people familiar with the talks said.
The hotel maid who accused Dominique Strauss-Kahn, the ex-International Monetary Fund managing director now charged with sexual assault and attempted rape, hired additional legal counsel in anticipation of an attack on her reputation and credibility, her lawyer said.
The U.S. Securities and Exchange Commission will let corporate whistle-blowers collect as much as 30 percent of penalties when they report financial wrongdoing, even when they bypass companies’ internal complaint systems.