Cuomo Subpoenas Bank of America Directors
New York Attorney General Andrew M. Cuomo subpoenaed five Bank of America directors Wednesday as investigators prepare to file charges against the bank's senior executives in connection with its...
View ArticleFDIC Packages Loans From Failed Banks
The Federal Deposit Insurance Corp. launched a new program Wednesday to subsidize investor purchases of loans that the agency has acquired from failed banks as it tries to attract more bids and higher...
View ArticleCredit Card Firms Offering Simpler Deals Ahead of Law
Credit card companies took a great deal of criticism as Congress was writing a law restricting their ability to raise rates and fees. The law passed in May won't go into effect until February but...
View ArticleFannie Mae reports $11.5B loss, requests $8.4B to stay afloat
"Fannie Mae the government-controlled mortgage finance giant said Monday that it cannot imagine a day when it would turn a profit as the firm announced a $11.5 billion loss and said it would request...
View ArticleProvision benefiting banks to remain in financial overhaul bill
"Goldman Sachs Morgan Stanley and other big Wall Street firms were able for years to set up commercial banking businesses while avoiding the strict regulation this kind of activity usually entails. But...
View ArticleIndiana ironing-board factory faces stiff competition from Chinese companies
"There is one factory left in the United States that manufactures the basic ironing board and its survival against Chinese competition demands unrelenting production-line hustle. The 200 people at the...
View ArticleSex.com, Holy Grail of Domains, Sold for $13 Million
And now for your requisite story involving sleaze and the sleazeballs who sell it.Sex.com—long considered the Holy Grail for domain purveyors—has been sold to Clover Holdings for $13 million. After...
View ArticleThe Facebook Thief Strikes!
It’s been a good week for Facebook.First Mark Zuckerberg Facebook’s founder and chief executive officer was named Time magazine’s “Person of the Year.” The publication noted the 26-year-old’s role in...
View ArticleBank of America Nixes Debit Fee, but Tens of Thousands To Leave Anyway
Bank of America may have avoided a mass exodus by killing that $5 debit card fee in its crib but a separate customer flight in response to the bank bailouts is scheduled for this weekend. November 5...
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