Jeff Horwitz

The elite membership of the group with which B of A is talking suggests the company could eventually seek to placate the most powerful bondholders, dividing investors and derailing more unified claims.

In a statement late Wednesday, the company announced that it was engaged in "constructive dialogue" with the mortgage security investors who issued an October 18 letter alleging that it had failed to fulfill its obligations as a mortgage servicer.

The queue of regional banks lined up to exit Tarp just got a bit shorter — and perhaps a bit less orderly — with Huntington Bancshares and First Horizon planning to repay Tarp.

"The servicing companies were designed primarily to collect the money and send it on," says Iowa Attorney General Tom Miller. "Now we're asking them to do a lot more."

"The servicing companies were designed primarily to collect the money and send it on," says Iowa Attorney General Tom Miller. "Now we're asking them to do a lot more."

Data gathered by the deposit research firm Market Rates Insight shows that total deposits increased by a full trillion dollars in the 36 months preceding October, despite the steady plunge of rates paid in that same time frame.

Along with the executives of Comerica Inc., and U.S. Bancorp, Steinour argued that a partial near-term economic recovery was sufficient for his bank to again achieve increased loan volume and steady profitability.

After seeing its stock rose 5% over the last two weeks, Wells Fargo is within a few billion dollars of JPMorgan Chase's $156 billion market capitalization.

Sen. Chris Dodd's last Senate Banking Committee hearing as chairman turned into a bit of a lovefest; two Capitol Hill veterans have formed a lobbying firm; and more.

Comerica brings aboard successor to its business banking head, Dale Greene, almost a year earlier; B of A touts index as best measure of financial market stress; and more.

To quell doubts about its mortgage unit's handling of documents, Bank of America Corp. is distancing itself from … itself.

Wells Fargo & Co. has agreed to pay Citigroup Inc. $100 million to settle a lawsuit over Wells' acquisition of Wachovia Corp., the two companies said Friday.

Wells Fargo & Co. has agreed to pay Citigroup Inc. $100 million to settle a lawsuit over Wells' acquisition of Wachovia Corp., the two companies said Friday.

Acting FASB chairman Leslie Seidman relives an unpleasant experience; a Sandler O'Neill analyst said Citi's management team is delivering on its market strategy; and more.

Many doubted Wells Fargo would keep Wachovia's sprawling Charlotte campus. But a review of its investment banking and customer service unit impressed the new owners.

Bank of America Corp.'s chief executive acknowledged in perhaps the starkest terms yet that for the country's largest bank, innovation may now be less important than remediation.

With around $100 million of annual revenue and deposits of $10 billion, the acquisition would fit into U.S. Bancorp's years-long effort to build its corporate trust business.

FDIC chairman Sheila Bair searches for just the right words to explain her optimism; Sen. Chris Dodd: 3 is the magic number; B of A execs load up on company stock.

Assurant Group defended its force-placed insurance business practices and relationships with mortgage servicers Wednesday, as its stock fell 11%.

Before servicers force-place insurance, they often warn homeowners that the policy is costly, offers poor coverage and is likely to benefit the servicer. The investors who often end up paying for that same policy don't benefit from the same notice.