Ally executive to become Freddie Mac’s finance chief
(Reuters) - Government-owned mortgage giant Freddie Mac said on Monday it has named James Mackey, a top executive at Ally Financial Inc, as its chief financial officer. Mackey will replace...
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U.S. banks say they are safer by their own measures
NEW YORK (Reuters) - The biggest U.S. banks, including JPMorgan Chase & Co and Bank of America Corp , said that by their own reckoning they are better equipped to...
Bank of America to lay off thousands in mortgage business
(Reuters) - Layoffs at Bank of America Corp's mortgage business will amount to about 2,100 positions, a source told Reuters on Monday, in response to weak refinancing activity. The downsizing...
Ally to repay U.S. taxpayers $5.95 billion, to sell shares
(Reuters) - Ally Financial Inc will sell $1 billion of unlisted shares to investors and repay taxpayers nearly $6 billion taking a big step closer to exiting U.S. government control....
U.S. accuses Bank of America of mortgage-backed securities fraud
WASHINGTON/NEW YORK (Reuters) - The U.S. government on Tuesday filed two civil lawsuits against Bank of America that accuse the bank of investor fraud in its sale of $850 million...
U.S. accuses Bank of America of mortgage-backed securities fraud
WASHINGTON/NEW YORK (Reuters) - The U.S. government on Tuesday filed two civil lawsuits against Bank of America that accuse the bank of investor fraud in its sale of $850 million...
Analysis: Bank of America’s interest-rate exposure may be worse than rivals’
NEW YORK (Reuters) - Bank of America Corp's balance sheet suffered from rising bond yields in the second quarter, suggesting that the second-largest U.S. bank may be more exposed to...
Bank of America profit jumps on cost-cutting; shares climb
(Reuters) - Bank of America Corp posted a bigger-than-expected 70 percent jump in quarterly profit on Wednesday, helped by aggressive cost-cutting, as Chief Executive Brian Moynihan's turnaround efforts showed early...
Wells rides high on ‘mortgage horse,’ but run may end soon
(Reuters) - The home loan business came through for Wells Fargo & Co in the second quarter, helping the biggest U.S. mortgage lender beat Wall Street's profit expectations, despite fears...
Analysis: Banks face profit lull as mortgage boom fizzles
(Reuters) - Unexpectedly large quarterly profits at JPMorgan Chase & Co and Wells Fargo & Co hide a more worrisome forecast for the rest of the year for many U.S....