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Stock Market & Financial Investment News

News Breaks
November 12, 2012
13:55 EDTBAC, DB, UBS, FMCC, JPM, FNMADeutsche Bank's bid to dismiss FHFA lawsuit rejected by judge, Reuters reports
Deutsche Bank's (DB) bid to dismiss a lawsuit by the FHFA accusing it of misleading Fannie Mae (FNMA) and Freddie Mac (FMCC) has been rejected by a U.S. judge, Reuters reports. The judge previously refused to dismiss FHFA lawsuits against Bank of America's (BAC) Merrill Lynch, JP Morgan (JPM) and UBS (UBS) over Fannie Mae and Freddie Mac mortgage losses. Reference Link
News For DB;FNMA;FMCC;BAC;JPM;UBS From The Last 14 Days
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March 22, 2015
17:51 EDTDBLawsky targets Deutsche Bank in Libor probe, FT says
According to people familiar with the matter, New York state's financial services regulator Benjamin Lawsky has joined other regulators investigating Deutsche Bank for manipulation of the Libor benchmark borrowing rate, says the Financial Times. Reference Link
March 20, 2015
10:36 EDTBACBank of America changes bylaws to allow some investors to nominate directors
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07:17 EDTDBDeutsche Bank investors pushing for Postbank sale, Financial Times says
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05:57 EDTBACBank of America faces pressure to defend structure, Financial Times reports
Bank of America will have to defend its current structure at its annual meeting in May after the SEC allowed a small shareholder the right to challenge the board on a break-up, reports the Financial Times. Bank of America's board could be under pressure to appoint a committee to examine a plan for divesting all non-core banking businesses if a proposal from Barlett Naylor of Public Citizen is adopted. Reference Link
March 19, 2015
15:29 EDTJPMJPMorgan execs 'brace' for potential investment/commercial bank cuts, FBN says
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12:29 EDTJPMJudge dismisses lawsuit over $13B JPMorgan-Justice Dept settlement, Reuters says
A federal judge has dismissed a lawsuit that sought to block a $13B settlement reached between JPMorgan and the U.S. Justice Department over mortgage loans, reports Reuters. Judge Beryl Howell accepted a motion by the Justice Department to dismiss the lawsuit, which argued the non-profit group Better Markets lacked standing to sue. Howell said, "The plaintiff has failed to meet its burden to show it has suffered an injury in fact." Reference Link
11:53 EDTBAC, JPMU.S. banks face headwinds in unloading oil loans, WSJ says
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06:30 EDTBACSEC says BofA must put investment bank spinoff to shareholder vote, Reuters says
The SEC has told Bank of America that it must allow shareholders to vote on whether the company will attempt to spin off its investment bank unit, reports Reuters, citing a decision by the Securities and Exchange Commission. A bank spokesperson said the company "will respond to the proposal in our proxy statement." Reference Link
March 18, 2015
11:36 EDTFMCCOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
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08:25 EDTJPMSamson near deal for covenant breach waiver, NY Post says
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07:44 EDTJPMJPMorgan to purchase $45B of mortage service rights from Ocwen, NY Post says
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07:22 EDTFNMA, FMCCFreddie Mac, Fannie Mae could need more bailouts, WSJ says
Freddie Mac (FMCC) and Fannie Mae (FNMA) might be at risk of needing additional bailouts, due to weak Q4 earnings, reports the Wall Street Journal, citing a watchdog. Reference Link
07:20 EDTUBSU.S. considers 'tearing up' non-prosecution deals with banks, Bloomberg says
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07:10 EDTBACPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
March 17, 2015
16:41 EDTJPMJPMorgan formally authorizes $6.4B equity repurchase program
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14:37 EDTJPM, UBSCiti, Barclays near $800M settelement of forex suit, WSJ says
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13:10 EDTFNMA, JPMJPMorgan could acquire Ocwen's Fannie MSR portfolio, IMF reports
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08:34 EDTBACBank of America reinstated with an Outperform at Raymond James
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08:26 EDTFMCC, FNMAFreddie Mac, Fannie Mae begin legal battle against Nomura, RBS, NY Post says
Freddie Mac (FMCC) and Fannie Mae (FNMA) alleged in court proceedings Monday that they bought "bad" mortgages because they were mislead by banks, reports the New York Post, citing court arguments. Monday was the first day of the lawsuit against Nomura (NMR) and co-defendant Royal Bank of Scotland (RBS) which seeks $1B in damages as well as the ability to return the securities to the banks. Lawyers presented internal bank emails that identified some mortgages as "crap" or from "extremely dysfunctional" lenders, while the banks alleged that they fully disclosed the poor quality of the products. Reference Link
05:34 EDTJPMJPMorgan providing financial advice to UK government to fight dementia
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