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Banks defend ATM, debit card fees
Three lawsuits have now been filed against big banks and credit card network operators, alleging price fixing when it comes to charging ATM fees for debit cards.
The latest suit, filed Friday, targets Bank of America, Wells Fargo and JPMorgan Chase as well as Visa and MasterCard. The complaint
Settlement chaos could hit bank mortgages practices
U.S. banks face a deadline of July 13 for submitting plans to federal regulators detailing how they will overhaul their mortgage and foreclosure practices. The problem is that the regulatory effort to compel improvement is proceeding in scattershot fashion, and it's unclear exactly what the ultima
Goldman Sachs' savvy Facebook deal
It's no secret that top investment banks are yearning to form relationships (as bankers and investors) with social media companies. Recently, the urgency was stoked in large part by Goldman Sachs' savvy courting of Facebook, the uber social media company.
Recall that Goldman Sachs has invested
Speculation: Goldman Sachs to face Martin Act charges
New York law enforcement authorities have not been shy about using the Martin Act against big companies in the Sarbanes-Oxley era. Efforts have been led by Eliot Spitzer when he was state attorney general and the late Robert Morgenthau, former Manhattan District Attorney.
The list of companies
Bank of America's general counsel faces criticism
Boards need to be sensitive to appearances when it comes to executive changes. The reasons may be justified and uncontroversial, but perceptions matter. And it is naïve to think that they will not be noticed.
That brings us to Bank of America's recent hiring of Gary Lynch, as chief legal offic
Goldman's fired forex executive spawns questions
When it comes to increased transparency, you will not find a bank executive who says he is against it--not in public anyway. In this climate, you can no more oppose transparency than you can oppose apple pie and baseball.
So, it is with great interest people are viewing the case of Kevin Conno
Bove: WikiLeaks bluffing about Bank of America
Bank of America's stock price has been whipped about recently in part by the uncertainty created by WikiLeaks founder Julian Assange, who has boasted he had information that could "take down a bank of two." Many people assumed he was referring to Bank of America, as he had previously indicated he
Bank of America to consider bankruptcy protection for Countrywide
This is not a good sign. The media discussion of Bank of America's (NYSE: BAC ) foreclosure fiasco options now include a Chapter 11 bankruptcy filing for Countrywide, which it acquired in 2008.
It's still hard fathom what a mortgage leviathan Bank of America became thanks to the deal. At th
Analyst Mike Mayo meets with Citigroup executives
We've long maintained that banks are better off engaging their critics in the analysts and media ranks. The punitive route can easily backfire, something we witnessed in the battle between analyst Mike Mayo and Citigroup's top executives.
After two years of being frozen out, Mayo went public w
Goldman Sachs to shutter prop trading unit
What will happen with Goldman Sachs' Principal Strategies Group (NYSE: GS ). The media has been rife with stories for several weeks about the future of this vaunted proprietary trading operation, one of two big units at the bank.
The latest Bloomberg scoop holds that the unit will i
