Credit Services and Intermediation
Pay czar trims salaries at top of GM exec ranks
Mar 19, 2010 18:40 EDT
PHOENIX (Reuters) - The U.S. pay czar will slash the number of top General Motors Co executives who will receive base salaries of more than $500,000 this year.
House GOP calls for Fannie, Freddie phase out
Mar 19, 2010 16:42 EDT
WASHINGTON (Reuters) - Republicans in the House of Representatives on Friday recommended the country's top two mortgage finance companies, the recipients of a massive government bailout during the height of the financial crisis, be phased out in four years in order to restore stability to the housing market.
Inter-American Development Bank seeks capital boost
Mar 19, 2010 15:51 EDT
The Inter-American Development Bank (IDB) sought a boost in capital for increased lending to Latin America and the Caribbean as its annual meeting opened on Friday in Mexico.
Credit scores can drop after getting loan help
Mar 19, 2010 11:26 EDT
Homeowners see credit scores sink after signing up for mortgage relief. Some homeowners who sign up for the government's mortgage assistance program are getting a nasty surprise: Lower credit scores.
Fed's emergency loans decline in past week
Mar 18, 2010 17:57 EDT
Banks reduce their borrowing by average of $2.24 billion from Fed's emergency loan program. Banks borrowed less from the Federal Reserve's emergency lending program over the past week in a further sign that the strains from the financial crisis are fading.
Mortgage rates still below 5 percent
Mar 18, 2010 11:16 EDT
Rates on 30-year mortgages edge up, but remain below 5 percent as Fed prepares exit. Mortgage rates held below the 5 percent threshold for the third straight week as the Federal Reserve prepares to end a program that has kept rates at or near record lows.
SEC boss: Agency examining companies
Mar 17, 2010 20:30 EDT
The head of the Securities and Exchange Commission confirmed Wednesday that the agency is investigating several companies' actions in the run-up to the financial crisis of 2008.
SEC boss: Agency examining companies
Mar 17, 2010 20:30 EDT
SEC chairman says agency examining companies' pre-meltdown conduct, offers no names. The head of the Securities and Exchange Commission confirmed Wednesday that the agency is investigating several companies' actions in the run-up to the financial crisis of 2008.
Fed's Bernanke sees U.S. backing Fannie, Freddie debt
Mar 17, 2010 18:07 EDT
WASHINGTON (Reuters) - Current Fannie Mae and Freddie Mac mortgage-backed securities are likely to retain U.S. government backing should Congress create a new system for financing U.S. homes, Federal Reserve Board Chairman Ben Bernanke said on Wednesday.
Stockhouse @ the Bell: Blue chips lead stocks higher…again
Mar 17, 2010 17:47 EDT
The Dow was higher for the seventh consecutive session for the first time since August. On Bay Street, energy issues helped counter weak gold and bank stocks. . Today on Stockhouse
Summary Box: Blockbuster shares down after warning
Mar 17, 2010 15:09 EDT
Summary Box: Shares of Blockbuster tumble after bankruptcy warning. THE WARNING: Blockbuster Inc. says in a regulatory filing that it may have to file for Chapter 11 bankruptcy protection.
Blockbuster shares tumble after bankruptcy warning
Mar 17, 2010 14:58 EDT
Shares of Blockbuster tumble after warning it may need to file for bankruptcy protection. Shares of Blockbuster Inc. sank 30 percent Wednesday after the video rental chain warned that it may have to file for Chapter 11 bankruptcy protection.
Advance America names 2 new board members
Mar 17, 2010 14:18 EDT
Advance America names Gardner Courson, Anthony Grant to board. Payday lender Advance America Cash Advance Centers Inc. said Tuesday it named Gardner G. Courson and Anthony T. Grant to its board.
Blockbuster shares tumble after bankruptcy warning
Mar 17, 2010 14:16 EDT
Shares of Blockbuster tumble after warning it may need to file for bankruptcy protection. Shares of Blockbuster Inc. sank 30 percent Wednesday after the video rental chain warned that it may have to file for Chapter 11 bankruptcy protection.
Bailout watchdog to audit gov't mortgage program
Mar 17, 2010 13:12 EDT
Federal watchdog plans audit of screening process for borrowers in the Obama mortgage plan. The federal bank bailout watchdog is planning to scrutinize the formula used by mortgage companies to evaluate borrowers for the Obama administration $75 billion mortgage relief program.
Fannie Mae slashes mortgage investment forecast
Mar 17, 2010 11:25 EDT
NEW YORK (Reuters) - Fannie Mae, the largest provider of U.S. residential funding, on Wednesday slashed its forecast for residential investment this quarter following a "setback" in home sales, and warned on its impact on the economic recovery.
Data show surge in consumer cases in fiscal 2009
Mar 16, 2010 20:09 EDT
New court data show surge in cases related to consumer issues in fiscal 2009. The number of new cases in federal courts related to consumer issues surged in the year ended last Sept. 30 as Americans battered by the recession fought foreclosures and downgraded debt ratings, data released Tuesday show.
CIT posts $1 billion quarterly loss
Mar 16, 2010 19:56 EDT
NEW YORK (Reuters) - CIT Group Inc <CIT.N> reported a $1 billion loss in the fourth quarter on Tuesday, excluding one-time items and accounting adjustments, as the recently bankrupt commercial lender was hurt by high borrowing and credit costs.
UN assessor: Haiti needs $11.5 billion to rebuild
Mar 16, 2010 19:15 EDT
UN assessor says Haiti needs $11.5 billion to rebuild from earthquake, attack inequities. The U.N. regional assessor for natural disasters says Haiti needs $11.5 billion over three years to rebuild and transform the hemisphere's poorest nation after its catastrophic earthquake.
CIT Group posts 4Q loss of $1 billion
Mar 16, 2010 19:10 EDT
CIT Group loses $1 billion in 4th quarter due to low finance revenue, high borrowing costs. CIT Group on Tuesday said it lost $1 billion in the fourth quarter, excluding a huge one-time reorganization benefit.
