Hedge fund executives are desperate for clues about the Treasury Department’s planned crackdown on corporate inversions, overseas mergers that cut companies’ U.S. tax payments.
Read More »Apple could fix rejected anti-poaching deal for pocket change
A new settlement may take as little as $55.5 million more to make it comparable with an earlier accord approved for other companies before workers secured the right to bring the case as a class action.
Read More »SEC approves new conflict of interest limits for credit raters
Credit-rating firms, whose lapses played a central role in the 2008 financial crisis, will face new restrictions on conflicts of interest under rules adopted by the U.S. Securities and Exchange Commission.
Tagged with: Securities and Exchange Commission
Read More »S&P demand for White House communications opposed by U.S.
Standard & Poor’s isn’t entitled to the Justice Department’s communications with the White House to bolster its defense that a U.S. fraud lawsuit was retaliation for S&P’s downgrade of the nation’s debt, the government said.
Tagged with: Standard & Poor's
Read More »Settlement forces BofA to set aside borrower tax relief
Bank of America Corp. must set aside $490 million of yesterday’s $16.7 billion settlement to cover taxes that borrowers face on forgiven mortgage debt – a step taken by the Justice Department to give homeowners relief that Congress has failed to provide.
Read More »Fed urged to clarify emergency lending rules to prevent bailouts
The Federal Reserve must clarify its emergency lending authority rules to foreclose the possibility of “backdoor bailouts” in a future financial crisis, a bipartisan group of lawmakers said in a letter this week.
Tagged with: Federal Reserve
Read More »S&P accuses U.S. of withholding documents
The U.S. is withholding documents that might show the government sued Standard & Poor’s in retaliation for downgrading the country’s debt, the ratings company said, asking a court to compel the records’ production.
Tagged with: Standard & Poor's
Read More »Republicans challenge Wall Street campaign-cash restrictions
New Jersey Gov. Chris Christie’s chances to be the 2012 Republican vice-presidential nominee were hampered by a U.S. regulation that could have an even bigger impact on the next race for the White House.
Tagged with: campaign finance
Read More »Commentary: Big bucks Bank of America settlement doesn’t mean justice
The U.S. Justice Department just got Bank of America Corp. to pay about $16 billion to settle charges of selling defective mortgages to investors.
Read More »Treasury Dept. examines how to curb inversions after last month’s dismissal
The U.S. Treasury Department is examining unilateral actions to curb corporate inversions, reversing its position that only Congress has the authority to stop or slow the deals.
Read More »BofA said to near mortgage accord for as much as $17 billion
Bank of America Corp. is nearing a settlement with the U.S. Justice Department in which it will pay between $16 billion and $17 billion to resolve probes into its sale of mortgage-backed bonds in the run-up to the financial crisis, a person familiar with the matter said.
Read More »