Written By Charlie Gasparino, Sital Patel
The US Department of Justice has filed its largest residential fair lending settlement in history to resolve allegations that Countrywide Financial Corporation and its subsidiaries engaged in a widespread pattern or practice of discrimination against qualified African-American and Hispanic borrowers in their mortgage lending from 2004 through 2008.
Daniel Mudd, the CEO of Fortress Investment Group, has stepped down to focus on outside matters - namely the complaint US regulator the Securities and Exchange Commission filed last week, which accused him (and others) of securities fraud while he was top dog over at Fannie Mae.
There are a few contenders for this accolade - Credit Suisse's 2000 acquistion of DLJ, Royal Bank of Scotland's 2007 ABN AMRO deal. But this has to take the biscuit.
Staff over at Royal Bank of Scotland's Global Banking & Markets unit have been having a torrid old time recently.
Here are a few links to some interesting Bloomberg, CNBC, Financial Times and Reuters stories that are currently doing the rounds.
French bank Societe Generale has announced a surprise shake-up in its executive ranks, including the appointment of a new CEO for the Corporate & Investment Banking unit.
Tokyo - Credit Suisse has announced that it has signed a definitive agreement to acquire HSBC’s private banking business in Japan.
Here's a note of the winners of our 2011 recruitment surveys.
The current 'clawback' period for bankers' bonuses is currently seven years, but shadow chancellor Ed Balls said that was 'too weak'.
British lawmakers plan to call up the bosses of HSBC and the tax authority, HMRC, to quiz them over allegations some clients of HSBC's Swiss private bank evaded tax.
J.P. Morgan Chase & Co. pushed out two senior executives connected to an investigation into its hiring in Asia, making them the latest to leave the firm amid the burgeoning probe, according to people familiar with the bank’s actions.