Fannie Mae and Freddie Mac could return $179.2 billion in profits to taxpayers over the next 10 years if they continue operating under federal conservatorship, according to White House budget analysts.
A former managing director at the New York investment banking firm Jefferies and Co. has been convicted of multiple offenses involving a scheme to defraud customers trading in residential mortgage-backed securities.
First Data Corp. has appointed Frank Bisignano as the Atlanta-based company's chairman, adding to his role as chief executive officer.
Zaio Corp., a Canadian company that tracks property values in the U.S., is in talks to acquire Axis Appraisal Management Solutions in San Rafael, Calif.
Bank of America's highest-paid executive remains co-Chief Operating Officer Thomas K. Montag, who earned more than his boss Brian T. Moynihan for the fourth straight year.
Baidu, China's largest search engine provider, is applying for a private banking license, according to Chinese news agencies reports.
BOK Financial Corp. (BOKF) in Tulsa, Okla., has agreed to buy MBM Advisors, a wealth management firm based in Houston.
The rising generation of young Americans not only have little loyalty to banks, according to a three-year survey of 10,000 people born between 1981 and 2000 many also believe that traditional financial institutions are on their way to irrelevance.
Open, Transparent and Connected Markets Group Inc. (OTCM), an operator of financial marketplaces for 10,000 U.S. and global securities, is preparing to launch a public trading marketplace for community and regional banks, according to a company release.
A former employee of TD Bank and her accomplice have pleaded guilty to committing identity theft and stealing government funds.
Fast-tracking foreclosures on vacant properties in states that handle foreclosures through the courts "could result in substantial cost savings" for all involved, according to a study by Federal Reserve Bank of Cleveland.
Royal Financial in Chicago has received permission from the Federal Reserve to withdraw an April 2010 board resolution that banned the company from paying dividends, increasing debt or redeeming stock without regulatory approval.
FICO plans to release a new broad-based scoring model this summer that helps lenders analyze a consumer's credit risk with greater accuracy. This product launch will represent FICO's first changes to its scoring model in six years, said Anthony Sprauve, senior consumer credit specialist at FICO.
The single-family rental securitization market appears to be benefiting from the improving housing market and favorable demographics, according to a Moody's Investors Service report.