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Stock Market & Financial Investment News

News Breaks
January 16, 2013
10:04 EDTMS, GSGoldman Sachs, Morgan Stanley in $557M mortgage settlement
Goldman Sachs (GS) and Morgan Stanley (MS) have reached agreements in principle with the Federal Reserve Board to pay $557M in cash payments and other assistance to help mortgage borrowers, the Fed said in a statement. These agreements are similar to those announced on January 7, between 10 mortgage servicing companies and the Office of the Comptroller of the Currency and the Federal Reserve Board. Like the other institutions, Goldman Sachs and Morgan Stanley were subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing. The sum paid by Goldman Sachs and Morgan Stanley includes $232M in direct payments to eligible borrowers and $325M in other assistance, such as loan modifications and forgiveness of deficiency judgments.
News For GS;MS From The Last 14 Days
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February 27, 2015
07:17 EDTGSUniversity of Chicago Booth School of Business to hold a forum
U.S. Monetary Policy Forum is being held in New York on February 27.
February 26, 2015
15:02 EDTMS, GSFed extends capital surcharge for SiFi banks comment period to April 3
The Federal Reserve extended until April 3 the comment period for its proposed rule to implement capital surcharges for the largest, most systemically important U.S. bank holding companies. The Fed extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 2. The proposed rule would establish a methodology to identify whether a firm is a global systemically important banking organization and would also establish the size of a firm's risk-based capital surcharge. The proposal is designed to further strengthen the capital positions of these institutions. Large U.S. banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
10:50 EDTMS, GSNew York regulator considering cybersecurity, cash laundering controls, WSJ says
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10:35 EDTGSGoldman Sachs shakes up mergers and acquisitions group, Financial Times says
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February 25, 2015
17:40 EDTMSMorgan Stanley agrees to $2.6B mortgage settlement with U.S.
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17:37 EDTMSMorgan Stanley agrees to $2.6B mortgage settlement with U.S.
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09:01 EDTMSMorgan Stanley says Apple Pay available for Wealth Management clients
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08:28 EDTMSMorgan Stanley reportedly near deal for Montreal cargo facility, Bloomberg says
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06:36 EDTGSGoldman Sachs looking to launch energy debt investment fund, NY Times reports
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February 24, 2015
07:21 EDTGS, MSSecurities Industry & Financial Markets Association to hold a conference
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06:15 EDTGSBanks probed for possible rigging of precious metals markets, WSJ reports
Officials in the U.S. are investigating at least 10 major banks for potential rigging of precious-metals markets, sources tell The Wall Street Journal. The DOJ's antitrust unit are investigating the price-setting process for gold, silver, palladium and platinum in London, while the CFTC has begun a civil investigation, with both agencies making requests for information, including a subpoena to HSBC (HSBC) from the CFTC. According to a source, Credit Suisse (CS), JP Morgan (JPM), UBS (UBS), Societe Generale (SCGLY), Bank of Nova Scotia (BNS), Barclays (BCS), Goldman Sachs (GS) and Deutsche Bank (DB) are also under investigation. Reference Link
February 23, 2015
13:33 EDTMSRBS could name Howard Davies as chairman this week, FT reports
Royal Bank of Scotland (RBS) could name Howard Davies as its chairman as early as Thursday, when the bank reports its full-year results, the Financial Times reports. Davies is currently chairman of insurance business Phoenix Group and chairs Morgan Stanley's (MS) risk committee. Current RBS Chairman Philip Hampton is set to become GlaxoSmithKline's (GSK) chairman as early as this summer. Reference Link
06:52 EDTGSGoldman Sachs sees $3B in possible legal costs above reserves
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February 19, 2015
07:12 EDTGSWharton Health Care Club to hold a conference
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06:47 EDTGS, MSReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:28 EDTMSAuthorities investigating possible hack in Morgan Stanley leak, WSJ says
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February 18, 2015
07:33 EDTGSGoldman Sachs vows legal battle with Bank of Portugal over loan, Reuters says
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07:21 EDTMS, GSJPMorgan, Citi top government report of riskiest banks, Reuters reports
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February 17, 2015
06:39 EDTGSBanks settle claims related to mortgage securities, Reuters says
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