Six Democratic House leaders who deal with financial services issues, including Rep. Barney Frank, D-Mass., Friday expressed “outrage” over a news report that some hedge funds have tried to convince companies that service mortgages not to take advantage of legislation aimed at reducing foreclosures, because it would hurt their mortgage investments.
The plaintiff's bar will continue pushing for the elimination of industry arbitrators, said Brian Smiley, the new president of PIABA.
The Department of the Treasury has begun to purchase stakes in several regional banks as the government aims to halt the freeze of the credit markets,
T. Rowe Price Group Inc. reported its first profit drop since 2003 today as weak credit conditions led to a steep decline in inflows.
AIG has borrowed $90.3 billion from the federal government, surpassing its original $85 billion rescue loan.
Sobering economic news in Europe, combined with continuing concerns about the U.S. economy, shattered markets in Europe and Asia today.
A Boston federal jury found that disability insurer Unum Group committed fraud against the United States in some of its disability cases.
Home sales increased 5.5% last month from August and 1.4% from a year earlier to a seasonally adjusted rate of 5.18 million units, according to the NAR.
The SEC has settled with the owner of an investor relations firm who illegally traded the stock of Manatron Inc., an information technology company.
U.S. equities plummeted at the open, sparked overnight by news that Sony reduced its 2009 forecast while Toyota Motor Corp.'s third-quarter sales contracted.
