The U.S. House of Representatives voted to cut the Internal Revenue Service’s budget by $1.14 billion in another blow to the tax agency.
Read More »Citigroup to pay $7B to settle mortgage-bond probe
Citigroup Inc. agreed to pay $7 billion in fines and consumer relief to resolve government claims that it misled investors about the quality of mortgage-backed bonds sold before the 2008 financial crisis.
Read More »Dive in minority lending pressures Fannie-Freddie
Minorities have been disappearing from the ranks of homebuyers who seek and receive conventional loans backed by Fannie Mae and Freddie Mac, a trend that poses risks for them and for the U.S. economy.
Read More »Curb on contracts of companies exiting U.S. wins in House
The House of Representatives voted to prevent companies that move their tax addresses from the U.S. to Bermuda or the Cayman Islands from winning some federal contracts.
Read More »‘Spinversions’ make giants candidates to escape U.S. tax
American conglomerates that want a piece of the tax-inversion deal bonanza may start turning to a new tactic. Call it the “spinversion.”
Read More »U.S. House says staff ‘absolutely immune’ to SEC subpoena demand
The U.S. House Ways and Means Committee and a top staff member say the panel and its employees are “absolutely immune” from having to comply with subpoenas from a federal regulator in an insider-trading probe.
Read More »Report: Young adult homeowners critical to sustained recovery
Millenials entering the housing market will be the key to a creating a stronger, lasting housing recovery, a new Harvard study concludes.
Read More »Congress considers creation of ‘white collar’ overtime
Senate Democrats have introduced a bill that would allow a larger number of white collar workers to qualify for overtime pay under the Fair Labor Standards Act.
Read More »Law firms expand West through mergers
More than one-third of the law firm mergers and acquisitions announced in the second quarter came in the Western U.S., driven partly by expansion in California, the nation’s most populous state.
Read More »JPMorgan CEO Dimon to undergo treatment for throat cancer
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., told employees and shareholders in a memo that he’s beginning treatment for throat cancer and will continue to run the company “as normal.”
Read More »GM judge says concealing switch defect would have been fraud
General Motors Co. customers who sued the automaker over fallen car prices might have a stronger case if they could prove company executives defrauded the court about a faulty ignition switch when testifying during its 2009 bankruptcy, a judge said.
Read More »