MLM Counties News. Notices. Need-to-know Information.
Wells Fargo & Co. agreed to pay Fannie Mae $591 million to resolve repurchase demands on loans originated before 2009 and sold to the government-backed firm.
Tagged with: Fannie Mae Wells Fargo & Co.
Read More »Foreclosure probe ‘closer’ to settlement, official says
Iowa Attorney General Tom Miller, leader of a 50-state probe of foreclosure practices, said a settlement is “closer” and that state and federal officials want a monitor to ensure that banks keep their promises.
Tagged with: Bank of America Corp. foreclosure JP Morgan Chase & Co. Justice Department Tom Miller Wells Fargo & Co.
Read More »Judges punish Wall Street as regulators just talk about reform
As the White House and Congress debate how to regulate financial firms to avoid another economic crisis, judges have assumed the point position in punishing Wall Street for causing the worst recession since the 1930s. The executive and legislative branches ...
Tagged with: Bank of America Corp. Bernard Madoff Eric Butler Frank DiPascali James Treacy Wells Fargo & Co.
Read More »Banks must face state enforcement, high court says
New York and other states can enforce their fair-lending laws against federally chartered banks including JPMorgan Chase & Co. and Wells Fargo & Co., the U.S. Supreme Court ruled. The 5-4 ruling rejected arguments that federal law gives the U.S. ...
Tagged with: fair-lending JP Morgan Chase & Co. Wells Fargo & Co.
Read More »Federal vs. states’ power to regulate banks weighed
U.S. Supreme Court justices weighed the power of state authorities to investigate the practices of federally chartered banks including JPMorgan Chase & Co. and Wells Fargo & Co. Hearing arguments Tuesday in Washington, several members of the court said states ...
Tagged with: Antonin Scalia investigate banks JPMorgan Chase & Co. U.S. Supreme Court Wells Fargo & Co.
Read More »JPMorgan, banks to halt foreclosures for three weeks
Citigroup Inc., JPMorgan Chase & Co., Bank of America Corp., Morgan Stanley and Wells Fargo & Co. agreed to suspend foreclosures while the Obama administration crafts a housing plan to modify mortgages for troubled borrowers. Citigroup will halt foreclosures through ...
Tagged with: Bank of America Corp. Barack Obama Barney Frank Citigroup Inc. foreclosure housing plan Jamie Dimon JPMorgan Chase & Co. Morgan Stanley mortgage Timothy Geithner Troubled Asset Relief Program Wells Fargo & Co.
Read More »Banks’ ‘catatonic fear’ means consumers don’t get relief
As the new owner of $172.5 billion of preferred shares and warrants in 208 U.S. financial institutions, the Treasury Department hasn’t succeeded in thawing frozen credit markets, leaving taxpayers propping up an industry that won’t lend to them. While inter-bank ...
Tagged with: AIG Alan S. Blinder Congress credit markets Henry Paulson Jeffrey Garten JPMorgan Chase & Co. TARP Treasury Department Wells Fargo & Co.
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