Citigroup paid $250m to taxpayer-owned Fannie Mae and Freddie Mac to settle a lawsuit over soured mortgage securities, the regulator of the two housing finance firms said on Thursday.
Deutsche Bank has settled a U.S. lawsuit in which shareholders accused it of misrepresenting its ability to handle risks associated with mortgage debt prior to the 2008 financial crisis.
NatWest and Royal Bank of Scotland customers have become the victims of another technical glitch that has resulted in many being unable to pay for fuel at Tesco's petrol stations.
The richest people on the planet got even richer in 2013, adding $524bn to their collective net worth, according to the Bloomberg Billionaires Index, a daily ranking of the world’s 300 wealthiest individuals.
The hedge fund billionaire and trader Steven A. Cohen has bought and sold many things: stocks and bonds, modern art and sprawling real estate.
JPMorgan, which has been told by U.S. regulators to bolster money-laundering safeguards, has stopped clearing dollar transfers for Latvian lenders, according to the Baltic nation’s banking association.
Now this is quite interesting. Not something you see every day.
Fresh evidence of the pay deals on offer in the City has emerged, with the biggest US bank, JPMorgan Chase & Co, revealing it gave more than 100 of its top staff in London an average of £2m each in 2012.
Billionaire investor Steven A. Cohen's SAC Capital Advisors is ending its life as a hedge fund with a 20.1% gain this year, marking one of the industry's best returns even after SAC pleaded guilty to insider trading charges, a source familiar with the numbers said.
A former Royal Bank of Scotland bond trader pleaded guilty to lying to customers in order to get them to pay higher prices as the U.S. continues probing tactics used in the market for complex debt -- undaunted by an appeals court’s rejection of a key conviction.
UBS has beefed up compliance for its Australian business after the country’s securities regulator ruled the bank’s controls covering its research department were inadequate.
Regulation, anaemic economic growth and technology changes will force banks across Europe to find more savings in 2016, with jobs likely to be the biggest casualty, according to investors and analysts.