Advertisement
November 04, 2009
Proposed regulations for car-title loans draw fire
Payday lenders are complaining that proposed State Corporation Commission regulations on car-title loans will put an unfair crimp in their business. But...
October 28, 2009
First British lender falls victim to global financial crisis
BRUSSELS—The European Union has approved the government rescue and nationalization of Northern Rock, the first British lender to fall victim to the...
October 26, 2009
Max & Erma’s files for bankruptcy protection
Max & Erma’s Inc. has filed for Chapter 11 bankruptcy protection from its creditors, listing between $1 million and $10 million in debts.
FairPoint phone company files for bankruptcy
Telecommunications services provider FairPoint Communications filed for Chapter 11 bankruptcy protection Monday after agreeing on a deal with key lenders...
October 24, 2009
Bank failures in U.S. hit 105
The cascade of bank failures this year surpassed 100 yesterday, the most in nearly two decades. And the trouble in the banking system from bad loans and...
October 22, 2009
Fed proposes to police bank pay for 1st time
The Federal Reserve for the first time would police banks’ pay policies to ensure they don’t encourage employees to take reckless gambles like...
October 21, 2009
Morgan Stanley posts first profit of year
NEW YORK—Morgan Stanley returned to profitability for the first time in a year as income from its investment banking operations offset losses in...
Despite recession, new bank opens in Powhatan
New Horizon Bank in Powhatan raised enough money during tough economic times to open for business. “We did it by getting up every day and saying,...
October 19, 2009
Dodd offers protection from bank overdraft fees
The head of the Senate banking committee has proposed legislation to stop banks from automatically enrolling customers in overdraft programs and to protect...
BB&T income drops 65 percent
BB&T Corp., the North Carolina lender that acquired Colonial Bancgroup Inc. in August, reported third-quarter profit dropped 65 percent as more real-estate...
October 16, 2009
Bank of America loses $2.24 billion as loan losses rise
Bank of America Corp. said Friday it lost more than $2 billion in the third quarter as loan losses kept rising, providing further evidence that consumers...
October 15, 2009
Goldman Sachs profit tops $3 billion on strong trading
Goldman Sachs again showed its trading prowess, helping the Wall Street firm earn more than $3 billion in the third quarter.
October 14, 2009
Bailout watchdog says Treasury and Fed failed in AIG oversight
Treasury Secretary Timothy Geithner is “ultimately responsible” for regulators failing to rein in massive bonus payments at American International...
October 13, 2009
CIT Group says CEO Peek plans to resign
CIT Group Inc., a major lender to small and midsize businesses, said Tuesday its chairman and CEO Jeffrey M. Peek plans to resign at the end of the year....
October 07, 2009
Bondholders raise offer for Trump casinos to $225 million
Bondholders battling Donald Trump for control of Trump Entertainment Resorts’ three Atlantic City casinos have raised their offer to $225 million....
September 30, 2009
Charlotte, N.C., reflects on post-Wachovia fate
CHARLOTTE, N.C. Looking back on last fall’s financial crisis, former Wachovia Corp. General Counsel Jane Sherburne said it’s disappointing...
FDIC plan not long-term fix for fund
A plan that regulators proposed yesterday to have banks prepay $45 billion in insurance premiums won’t provide a long-term fix for the shrinking...
September 29, 2009
Scrutiny of banks’ overdraft fees intensifies
Several of the country’s biggest banks recently announced consumer-friendly makeovers of their overdraft programs. The changes may be too little,...
FDIC might make banks prepay insurance premiums
The Federal Deposit Insurance Corp. may take the unprecedented step of ordering banks to prepay about $36 billion in premiums to shore up the shrinking...
September 28, 2009
Hedge fund CEO dies in fall off escalator
ATLANTIC CITY, N.J.—Atlantic City police are investigating how a hedge fund executive fell to his death from an escalator. James Vellanti is the...
September 25, 2009
Mattress manufacturer Simmons plans to file for bankruptcy protection
The plan is expected to reduce total debt from about $1 billion to approximately $450 million and not affect the business operations from running normally....
September 24, 2009
Bank of England: 2 big banks almost failed in Oct.
Two major British banks were just hours away from collapsing in October 2008, an event which would have threatened the country’s entire economy,...
September 18, 2009
FDIC chief considers tapping Treasury for funds
The chairman of the Federal Deposit Insurance Corp. says she is “considering all options, including borrowing from Treasury,“ to replenish...
September 16, 2009
AP source: N.Y. attorney general subpoenas 5 Bank of America board members
The New York Attorney General’s office subpoenaed five members of Bank of America Corp.‘s board Wednesday as part of an investigation into...
EU to call for sanctions on excessive bank pay
European Union leaders will call on the world’s leading economies to threaten sanctions against banks that pay excessive bonuses to executives and...
September 12, 2009
LandAmerica knew end was near, clients say
Last Nov. 24, two days before LandAmerica Financial Group went bankrupt, the company refused to release funds it was holding for retired Army Col. Tracy...
September 11, 2009
LandAmerica offers repayment plan to bankruptcy court
LandAmerica Financial Group’s plan to pay off most of the people who entrusted it with tax-shelter funds is to go after the banks and brokers who...
September 10, 2009
Tavern on the Green files for bankruptcy
NEW YORK—Tavern on the Green LP, the operator of the 75-year-old famed restaurant in New York’s Central Park, filed for Chapter 11 bankruptcy...
Page 1 of 1 pages
