Taggato: Bank

Deutsche Bank Faces U.S. Mortgage Fraud Lawsuit, Accused Of Lying To Be Included In Federal Program

Deutsche Bank Faces U.S. Mortgage Fraud Lawsuit, Accused Of Lying To Be Included In Federal Program

The United States sued Deutsche Bank AG, accusing the German bank and its MortgageIT Inc unit of repeatedly lying to be included in a federal program to select mortgages to be insured by the government.In a civil complaint filed in U.S. Dist…

Bank Of America Spinning Off $5B Private Equity Fund

Bank Of America Spinning Off $5B Private Equity Fund

CHARLOTTE, North Carolina (Reuters) – Bank of America Corp plans to spin off its last large private equity fund, with more than $5 billion in assets, and has no plans to make new private equity investments, a company spokesman said on Tuesda…

Gary Lynch, Former SEC Official, Heads To Bank Of America

Gary Lynch, Former SEC Official, Heads To Bank Of America

NEW YORK: Bank of America said it has hired Gary Lynch, a former director of enforcement at the U.S. Securities and Exchange Commission, to head its legal, compliance, and regulatory relations efforts.Lynch was previously chief legal officer…

Irish Bank Exits ‘Collective Madness’ With $15B Loss, 2K Layoffs

Irish Bank Exits ‘Collective Madness’ With $15B Loss, 2K Layoffs

DUBLIN (Carmel Crimmins) – Allied Irish Banks aimed to put the “collective madness” of a homegrown property bubble behind it on Tuesday with a jaw-dropping annual loss of 10.4 billion euros and a plan to axe over 2,000 jobs.A former stock ma…

Honey, I Shrunk The Credit Score

Honey, I Shrunk The Credit Score

Steven Marks knew he was wasting thousands of dollars every month paying the mortgage on a home he bought during the housing bubble that will never be worth that much again. But he’d read plenty of horror stories about people having serious …

Madoff Victims To Get Up To $500 Million From Swiss Bank

Madoff Victims To Get Up To $500 Million From Swiss Bank

NEW YORK — A private Swiss bank has agreed to pay up to $500 million to investors defrauded by Bernie Madoff.The trustee appointed to recover money for the notorious Ponzi schemer’s victims on Monday said he reached an agreement with G…