Banks (Finance)
The U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) has found Bank of America Corp. in violation of the whistleblower protection provisions of the Sarbanes-Oxley Act for improperly firing an employee. The bank has been ordered to reinstate the employee and pay approximately $930,000,
Banks (Finance)
OFinancialinc.com provides investors with early alerts on small-cap stocks that are poised for potential explosive growth. The company offers a free newsletter for subscribers, which provides timely information on stocks that are gaining momentum. For instance, Onteco Corporation's (ONTC) subsidiary, NexPhase Lighting, has released new LED intelligent
Banks (Finance)
The US market direction this morning will be dominated by the news that a US regulator is suing 17 financial institutions for mis-selling billions of dollars' worth of mortgage bonds. The targets include major US banks such as Goldman Sachs and Bank of America, as well as international banks
Banks (Finance)
Bubba Watson capitalized on the opportunities afforded to him, recording a 1-under 70 on Sunday to take a 1-shot lead into the final round of the Deutsche Bank Championship. Despite losing control off the tee and making three bogeys in a five-hole stretch, Watson managed to stay ahead of the
Banks (Finance)
The Federal Housing Finance Agency (FHFA) plans to sue 12 major banks, including Bank of America, J.P. Morgan Chase, Goldman Sachs, and Deutsche Bank, for allegedly misrepresenting the quality of mortgage securities sold in the lead-up to the financial crisis. The lawsuits aim to secure reimbursement for losses on
Banks (Finance)
Financial shares are experiencing a downturn in pre-market trading, with major banks facing billions in compensation claims from the Federal Housing Finance Agency. The agency plans to sue a dozen banks, including Bank of America, JPMorgan, and Goldman Sachs, for allegedly misrepresenting the quality of mortgage securities sold before the
Banks (Finance)
Tuesday's trading saw a mixed bag of performance among major US equities, with UBS leading the pack with a gain of over 5% following its announcement of job cuts to cut costs. Credit Suisse and JP Morgan Chase also traded higher, while Goldman Sachs and Bank of America
Banks (Finance)
Bank of America, the largest consumer bank in the country, is navigating two critical challenges: its legacy mortgage exposure and the need to boost its consumer banking arm. Analysts are closely watching the bank's valuation, which has come down significantly, making it the cheapest bank in the coverage
Banks (Finance)
Financial shares are trading lower in today's pre-market session, driven by yesterday's weak manufacturing data and ongoing concerns over the European debt crisis. Bank of America (BAC) is down 1.71% to $6.89 a share, following news that it is cutting 3,500 employees this
Banks (Finance)
Bank of America's announcement to exit the international credit card business and other financial news drove up shares in the pre-market session on August 15, 2011. The release of the Empire State Manufacturing Survey for August and the National Association of Home Builders' August housing market index
Banks (Finance)
Yesterday, French banks faced a new round of scrutiny despite a statement from the central bank governor, Christian Noyer, that their capital levels were adequate. However, a Reuters report that an Asian bank had cut its credit lines to French banks and five Asian banks were reviewing their exposure to
Banks (Finance)
The Monetary Board has issued a resolution disallowing banks from charging "flat" interest rates on loans, a move praised by Cagayan Rep. Jack Enrile as a victory for consumer protection and financial reform. The new policy prohibits banks from using "flat" rates and other methods that
