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Stock Market & Financial Investment News

News Breaks
January 7, 2013
11:06 EDTBAC, STI, JPM, WFC, PNC, C, UBS, METTen mortgage servicing companies reach $8.5B agreement with Fed, OCC
Ten mortgage servicing companies subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing have reached an agreement in principle with the Office of the Comptroller of the Currency and the Federal Reserve Board to pay more than $8.5B in cash payments and other assistance to help borrowers. The sum includes $3.3B in direct payments to eligible borrowers and $5.2B in other assistance, such as loan modifications and forgiveness of deficiency judgments. This agreement includes Aurora, Bank of America (BAC), Citibank (C), JPMorgan Chase (JPM), MetLife Bank (MET), PNC (PNC), Sovereign, SunTrust (STI), U.S. Bank (USB), and Wells Fargo (WFC).
News For BAC;C;JPM;MET;PNC;STI;UBS;WFC From The Last 14 Days
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May 15, 2015
06:17 EDTBACBank of America CEO still struggles to move past financial crisis, WSJ reports
Five years into his job as Bank of America CEO, Brian Moynihan is still struggling to move past the financial crisis, which is testing his reputation as a "fixer" as well as the patients of investors who are concerned about his progress in turning the bank around, The Wall Street Journal reports. Reference Link
05:50 EDTMETMetLife initiated with a Neutral at Goldman
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May 14, 2015
16:00 EDTBACOptions Update; May 14, 2015
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09:31 EDTJPMJPMorgan to buy $45B in mortgage servicing rights from Ocwen
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09:31 EDTJPMJPMorgan to buy $45B in mortgage servicing rights from Ocwen
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07:37 EDTUBSUBS ordered to pay $200,000 to PR bond fund investor, Reuters reports
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06:51 EDTWFCWells Fargo looking to streamline operations, Charlotte Observer says
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06:49 EDTJPM, UBS, CBanks to pay several billion over alleged currency violations, NY Times says
Barclays (BCS), JPMorgan Chase (JPM), Citigroup (C) and the Royal Bank of Scotland (RBS) are expected to agree to pay a combined "several billion dollars" as part of a settlement with the U.S. over alleged foreign exchange rigging, according to The New York Times, which cited unnamed sources. The banks are also expected to plead guilty to criminal antitrust violations, but it is not anticipated that their operations will be significantly affected as a result of those pleas, the newspaper stated. Meanwhile, UBS (UBS) will pay a fine of up to $500M related to alleged "foreign currency misconduct," the newspaper stated. Reference Link
06:25 EDTMETStandard Chartered seeks buyers for Hong Kong pension unit, Reuters reports
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May 13, 2015
09:39 EDTBACActive equity options trading on open
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08:59 EDTCEasterly Government Properties names Meghan Baivier as COO
Easterly Government Properties (DEA) announced that Meghan Baivier has been named EVP and COO, effective May 12. Baivier will be responsible for overseeing the alignment of the firmís growth strategy and financial goals with operations, capital markets and finance activities. Prior to joining Easterly Government Properties, Baivier served as VP of Citigroupís (C) Real Estate and Lodging Investment Banking group.
08:27 EDTUBSDOJ may scrap non-prosecution agreement with UBS over rigging, FT says
UBS had agreed in 2012 to a non-prosecution agreement with the Department of Justice to resolve allegations it rigged the benchmark rate and that deal was recently extended for an additional year to the end of 2015, but the DOJ is threatening the NPA as it pursue a new investigation of foreign exchange manipulation, said Financial Times. Reference Link
07:29 EDTC, BACUBS to hold a conference
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May 12, 2015
18:12 EDTSTISenate proposes to ease 'systemically important' bank designation, FT says
Senate bank committee chairman Richard Shelby has introduced legislation that would increase the "systemically important bank" threshold from $50B to $500B, reports the Financial Times, citing draft legislation. The report notes that SunTrust (STI), Regions Financial (RF), Citizens Financial (CFG), Fifth Third (FITB), and Huntington Bancshares (HBAN) may benefit from the change if the bill passes. Some bankers believe the potential change could lead to renewed interest in mergers within the sector, adds the Financial Times. Reference Link
16:49 EDTWFCWells Fargo to pay $77M in trust fund case, St. Louis Today says
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16:01 EDTCOptions Update; May 12, 2015
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14:13 EDTSTI, PNC, BAC, C, JPMBove says it may be time to buy bank stocks
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08:07 EDTSTISunTrust to hold a conference
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07:48 EDTC, WFCStandard & Poor's to hold a summit
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06:32 EDTMETU.S. wants dismissal of MetLife's lawsuit over too big to fail, Reuters says
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