05/21/2012
The SEC alleges that Spangler, 57, who was Napfa chairman in 1998, funneled the money into these private ventures despite telling clients that he would invest primarily in publicly traded securities.
05/18/2012
U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday that his panel will invite Dimon to appear before Congress.
05/17/2012
If the SEC were to file civil charges, it would be its first enforcement action against hedge funds related to CDOs
05/16/2012
Robert Giuffra, a lawyer for Bank of America Corp and Societe Generale, made the argument in his opening statement in a case the banks brought against MBIA and the state insurance department to overturn the 2009 restructuring.
05/16/2012
Each case will be will be tried individually, U.S. District Court Judge Denise Cote wrote in an order Tuesday.
05/15/2012
The city currently deposits money at 31 banks — among them JPMorgan Chase, Citibank, Bank of America, Capital One, Deutsche Bank, HSBC and Wells Fargo — chosen for their financial soundness and ratings by federal and state agencies.
05/15/2012
The banks are the only two plaintiffs remaining of 18 that sued MBIA and then-New York state Insurance Commissioner Eric Dinallo in 2009.
05/14/2012
Swiss banks can’t agree on the terms of a settlement with the U.S., Tages-Anzeiger reported earlier today, without saying where it got the information.
05/11/2012
Claimants sought $7,000,000.00 in compensatory damages, $14,000,000 in punitive damages, interest, attorneys’ fees; costs; and expenses.
05/11/2012
JPMorgan Chase, the largest bank in the United States, said yesterday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.
05/10/2012
The bill, introduced by Congressman Bill Pascrell, D-N.J., and Sen. Debbie Stabenow, D-Mich., would provide a 20 percent tax credit to U.S. companies that bring jobs and business operations back to America, while ending tax breaks for companies that send
05/10/2012
The court is deciding whether banks who used fraudulent documents to file foreclosure lawsuits can dismiss the cases and refile them later with different paperwork.
05/09/2012
William Cohan at Bloomberg found one exchange between Fuld and David Goldfarb, the bank's CFO, concerning a possible injection of capital by Chinese investment bank Citic Group, capital the bank desperately needed.
05/09/2012
Attorneys for a former Goldman Sachs board member accused of insider trading say recent testimony by Goldman's chief executive supports their bid to eliminate the only wiretap recording of their client that relates to claims that he shared secrets wi
05/08/2012
The trustee liquidating Bernard L. Madoff Investment Securities Inc. revised a lawsuit to add the spouses of Bernard Madoff’s two sons as defendants on $57.5 million in claims.
05/08/2012
Proskauer has expanded its Real Estate Capital Markets Group with the addition of Leslie H. Loffman as a Tax Partner in the firm's New York office.
05/07/2012
Dominique Strauss-Kahn could face gang rape charges after an escort girl said the former International Monetary Fund chief and three others held her down and forced her to have anal sex.
05/07/2012
When Congress passed the Investment Company Act of 1940 to prevent abuses of mutual-fund shareholders, it exempted Puerto Rico.
05/07/2012
Pictet said in a statement the data handover took place in November 2010 via the Swiss tax office, which had received a request for assistance from its U.S. counterparts.
05/04/2012
The promised principal protection constituted a gross deception because the Lehman notes represented nothing more than unsecured loans by the investors to a financially faltering Lehman, according to the claims.