BEDFORD, Mass. - (06/15/06) RSA Security Inc. reported ithas been subpoened by the U.S. Attorneys office in New York,which is investigating the back-dating of stock options at morethan four-dozen companies. RSA reported earlier it is among thosecompanies being investigated by the Securities and ExchangeCommission in connection to the case. The company said plans tocooperate fully with the office of the United States Attorney inconnection with this subpoena. The online security provider alsosaid it has been sued by a shareholder claiming RSA violatedfederal securities laws with its practice of awarding stockoptions. The company said it and its directors intend to review theallegations and respond appropriately.
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The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
April 18 -
The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
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The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
April 18 -
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
April 18