Banking Industry - Articles

Bank of America to pay borrowers $108 million
Associated Press - Sun Jun 6, 2010
WASHINGTON - Bank of America will pay $108 million to settle federal charges that Countrywide Financial Corp, which it acquired nearly two years ago, collected outsized fees from borrowers facing foreclosure. More»

Fannie Mae asks for another $8.4 billion
CNN Money - Sun May 9, 2010
NEW YORK - Fannie Mae requested another $8.4 billion from the federal government on Monday, saying that it expects its losses to continue because of trends in the housing and financial markets. More»

Banks can collect on a loan and wipe out your account
Atlanta Journal-Constitution - Thu Apr 29, 2010
When Hope and Matt Hughes stopped for supplies at a pet store last month, they thought the trouble with their debit card was just a glitch. More»

No Mortgage, Still Foreclosed? Bank of America Sued for Seizing Wrong Homes
ABC News - Sun Jan 24, 2010
Some 2.8 million homeowners faced the threat of foreclosure last year, but it wasn't supposed to happen to Charlie and Maria Cordoso. More»

Obama tells banks: 'We want our money back'
Associated Press - Wed Jan 13, 2010
WASHINGTON - President Barack Obama told banks Thursday they should pay a new tax to recoup the cost of bailing out foundering firms at the height of the financial crisis. More»

80% Credit Card Fees?
WSB-TV - Sun Dec 20, 2009
CHEROKEE COUNTY, Georgia - Martha Burnett, an unemployed single mother from Cherokee County, was happy about the new credit card she got in the mail. More»

Feds Close Three More Ga. Banks
GPB - Sat Dec 5, 2009
ATLANTA - Federal regulators shut down three Georgia banks yesterday. More»

Meltdown 101: What to know if your bank fails
Associated Press - Sat Oct 31, 2009
NEW YORK - Dozens of banks have failed this year. More»

Bank of America loses $2.24B as loan losses rise
Associated Press - Thu Oct 15, 2009
CHARLOTTE, North Carolina - Bank of America said Friday it lost more than $2.2 billion in the third quarter as loan losses kept rising, providing further evidence that consumers are still struggling to pay their bills. More»

Bank of America Turns Armless Man Away, After Demanding a Thumbprint
Associated Press - Wed Sep 2, 2009
TAMPA, Florida - A Florida man born without arms says a Tampa bank would not let him cash a check because he couldn't provide a thumbprint. More»

2 more Ga. banks fail; making it 23 in past year
Atlanta Journal-Constitution - Fri Aug 21, 2009
GEORGIA - A pile of bad real estate loans and not enough cash to cover the mounting losses - That toxic formula claimed two more small Georgia lenders on Friday: First Coweta Bank of Newnan and ebank of Atlanta. More»

Regulators shut banks in Florida, New Jersey, Ohio, Oklahoma
Associated Press - Thu Jul 30, 2009
WASHINGTON - Regulators on Friday shut down banks in Florida, New Jersey, Ohio and Oklahoma, boosting to 68 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults. More»

6 More Georgia Banks Shut Down
Associated Press - Thu Jul 23, 2009
WASHINGTON - Regulators on Friday shut six banks in Georgia and a small bank in New York state, raising to 64 the number of federally insured banks to fail this year. More»

Freedom Bank fails, seventh to close in Georgia
Atlanta Journal-Constitution - Fri Mar 6, 2009
Another small bank has failed in Georgia: Federal and state regulators on Friday seized Freedom Bank of Georgia in Commerce, the seventh Georgia bank to fail in the past seven months. More»

FDIC warns US bank deposit insurance fund could tank
AFP - Wed Mar 4, 2009
WASHINGTON - The US government is warning banks that its deposit insurance fund could go broke this year as bank failures mount. More»

Folding dealers shock car buyers with unpaid liens
Associated Press - Sun Feb 1, 2009
SACRAMENTO, California - The national wave of auto dealership closures has come crashing down on thousands of people who are on the hook for used-car loans that dealers were supposed to absolve. More»

AP Investigation: Banks sought foreign workers
Associated Press - Sun Feb 1, 2009
SANTA CLARA, California - Major US banks sought government permission to bring thousands of foreign workers into the country for high-paying jobs even as the system was melting down last year and Americans were getting laid off, according to an Associated Press review of visa applications. More»

To which Lender do you send your mortgage payment?
Atlanta Journal-Constitution - Sun Jan 25, 2009
Georgia - Twenty years ago, Zella Mae Green bought a modest brick ranch house in DeKalb County with an American ideal in mind. More»

Revealed: Day the banks were just three hours from collapse
Daily Mail, UK - Sat Jan 24, 2009
Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown's Ministers has revealed. More»

AP study finds $1.6B went to bailed-out bank execs
Associated Press - Sun Dec 21, 2008
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. More»

Credit card holders livid about 'rate-jacking'
CNN - Wed Dec 17, 2008
It arrived in Rich Stevens' mailbox a few weeks ago: the notice that Citibank had "rate-jacked" the Visa cards belonging to him and his wife. More»

Goldman Sachs reports huge loss
BBC - Mon Dec 15, 2008
US financial giant Goldman Sachs has reported a $2.12bn quarterly loss, its first since the investment bank went public in 1999. More»

Georgia's Haven Trust Bank Forced to Shut Down
Fox - Fri Dec 12, 2008
ATLANTA - The Georgia Department of Banking and Finance announced Friday that it will shut down Haven Trust Bank. More»

How Freddie Mac halted regulatory drive
Associated Press - Mon Dec 8, 2008
WASHINGTON - From a hefty lobbying budget to the use of free baseball tickets, Freddie Mac fended off any meaningful regulation in the years before the housing mortgage giant crashed, records obtained by The Associated Press show. More»

Greenspan denies blame for crisis, admits 'flaw'
Associated Press - Wed Oct 22, 2008
WASHINGTON - Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation's economic crisis was his fault on Thursday but conceded the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a "state of shocked disbelief". More»

U.S. Nationalizes Nine Major Banks
Washington Post - Mon Oct 13, 2008
The US government is dramatically escalating its response to the financial crisis by planning to invest $250 billion in the country's banks, forcing nine of the largest to accept a Treasury stake in what amounts to a partial nationalization. More»

Leaders May Close World's Markets
Bloomberg - Fri Oct 10, 2008
Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they "rewrite the rules of international finance. More»

White House considers "ownership stakes" in banks
Associated Press - Wed Oct 8, 2008
The Bush administration is considering taking ownership stakes in certain US banks as an option for dealing with a severe global credit crisis. More»

Retirement accounts have lost $2 trillion so far
Associated Press - Mon Oct 6, 2008
Americans' retirement plans have lost as much as $2 trillion in the past 15 months - about 20 percent of their value - Congress' top budget analyst estimated Tuesday as lawmakers began investigating how turmoil in the financial industry is whittling away workers' nest eggs. More»

Mortgage forgiven for woman, 90, who shot herself
Associated Press - Sun Oct 5, 2008
AKRON, Ohio - Mortgage finance company Fannie Mae said it is forgiving the mortgage debt of a 90-year-old woman who shot herself in the chest as sheriff's deputies attempted to evict her. More»

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