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The Charlotte-based bank released a statement saying it will no longer process any transactions that it believes are intended for the site, which has released thousands of secret U.S. diplomatic cables
The Federal Deposit Insurance Corp. took over the three Georgia banks: Appalachian Community Bank of McCaysville, with $68.2 million in assets; Chestatee State Bank, based in Dawsonville, with $244.4 million in assets; and Atlanta-based United Americas Bank, with $242.3 million in assets.
My adjustable rate loan is tied to LIBOR. Does this mean the rate on my loan will drop on Jan. 1 to 3 percent?
Bank of America Corp. violated Arizona's consumer fraud law by misleading consumers trying to get home loan modifications, state Attorney General Terry Goddard said Friday as he filed a civil lawsuit against the bank.
Canada's fourth-largest bank announced Friday that it was acquiring Marshall & Ilsley Corp. for $4.1 billion in stock, doubling its presence in the U.S. from 321 branches to 695.
Capping debit interchange fees, sometimes called swipe fees, would help merchants by replacing the current system, in which they generally pay between 1 percent and 2 percent of the dollar value of each transaction.
The Congressional Budget Office has estimated that taxpayers will lose $25 billion on the rescue of banks, other financial institutions and automakers that came in at the peak of the crisis in the fall of 2008. Geithner told a hearing by a congressionally-appointed panel that it will cost less than that.
The 18-story office building, now known as Ohio Savings Plaza, is 88 percent leased and is owned by the Federal Deposit Insurance Corp. AmTrust Bank was seized by regulators in late 2009 and was sold to New York Community Bank.
Geithner told a congressional oversight panel Thursday that although the Treasury Department's ability to spend new bailout funds for the central foreclosure-prevention effort expired in October, it is running other programs for borrowers in certain situations such as being unemployed.
The change by Chase comes as the banking industry increasingly focuses on wooing prime customers who maintain higher balances and spend more. The shift in the past year is motivated by a spate of regulatory changes that limit how much banks can earn through penalty fees and other billing practices that disproportionately affected customers with less than stellar financial histories.
Two regional Fed bank presidents known to be especially vigilant about the risk of price increases will become voting members of the Fed's main policymaking group. The group is called the Federal Open Market Committee.
Fed Chairman Ben Bernanke and his colleagues will gather Tuesday for their last scheduled meeting of 2010, and no policy changes are expected.
Huntington Bank today said it plans to sell $920 million in new stock and $300 million in debt to help repay its 2-year-old loan from the U.S. Treasury.
A class-action lawsuit was filed Friday against FirstMerit Bank, accusing the Akron bank of shuffling the order of transactions in people's checking accounts to yield as many overdraft fees as possible.
The Federal Deposit Insurance Corp. took over Paramount Bank, based in Farmington Hills, Mich., with $252.7 million in assets and $213.6 million in deposits; and Earthstar Bank, based in Southampton, Pa., with $112.6 million in assets and $104.5 million in deposits.
The Office of the Comptroller of the Currency estimates that complaints from customers of the 1,500 banks it regulates will hit 80,000 this year. That would be the highest level in the 15 years it has recorded them and more than double the 2008 total. The Better Business Bureau and state attorneys general also report big increases.
Both MasterCard and Visa said that cardholders' accounts were not at risk and that people could continue using their credit cards throughout the day.
The problems occurred on the same day of attacks on websites for Swedish prosecutors, the Swedish lawyer whose clients have accused Assange of sexual crimes and the Swiss authority that froze Assange's bank account. Mastercard Inc. pulled the plug on its relationship with WikiLeaks on Tuesday.
The Justice Department said Bank of America came forward in 2007 and disclosed that Banc of America Securities, a division of the bank, was paying officials to get them to invest their proceeds from municipal bond sales with the bank. In addition to paying local officials bribes, the government said Banc of America Securities received information about competing bids for contracts. That gave the bank a competitive advantage when making its proposal
The Federal Reserve says that consumer credit rose at an annual rate of $3.4 billion in October, the largest increase since a $5.7 billion gain in July 2008. Consumer credit was also up in September.