The U.S. Treasury Department has had Ally Financial Inc. in a regulatory headlock since its 2008 bailout. As the government sells shares in an initial public offering, Ally will soon breathe again -- and take on more risk.
Moody’s Corp. shares may drop as the market’s indifference to its downgrades prods bond issuers to stop paying for ratings, according to Mark Palmer, an analyst for BTIG LLC, a trading firm in New York.
Genworth Financial Inc. named James Boyle to run its U.S. life insurance operation, as Chief Executive Officer Tom McInerney seeks to improve results at the country’s largest provider of long-term care coverage.
CNO Financial Group Inc., the insurer that counts John Paulson’s hedge fund firm among its biggest investors, gained in New York trading after announcing a deal that will limit the risk of losses from long-term care policies.
Bank of America Corp.’s $8.5 billion settlement with mortgage-bond investors will be delayed at least two weeks after American International Group Inc. and other objectors asked a judge for a hearing to address loan modifications excluded from the accord.
When Jay Sugarman’s IStar Financial Inc. bought Fremont General Corp.’s commercial lending business in June 2007, the deal brought loans on undeveloped residential land as new home sales were two years into a six-year slide.
Lender Processing Services Inc., the company said to be in talks to sell itself to its former owner, could leave shareholders where they started in 2008 if the mortgage-services provider completes its round-trip journey.