Other banks may follow Bank of America Corp.’s decision this month to cut mortgage clients’ borrowing costs drastically, including waiving the requirement for private mortgage insurance, industry observers say.
Bank of America Corp. has been sued for race discrimination by allegedly steering wealthy clients to white co-workers.
Bank of America appoints Moynihan and Sevilla-Sacasa to head a wealth team that incorporates U.S. Trust Corp.
Russia's customs service is suing the Bank of New York for $22 billion over alleged misdeeds dating from the 1990s, according to Russian news agencies.
An affiliate of Edward Lampert's ESL Investments Inc. hedge fund now owns 15.24 million shares of Citigroup Inc.
The first hedge fund to go public today posted a 52% drop in first-quarter net income.
Morningstar Inc. has announced that Claymore Securities Inc. has licensed three Morningstar Super Sector Indexes to create three new exchange traded funds.
The Federal Reserve chief today warned against creating "ad hoc" securities regulations—especially for derivatives or hedge funds.
The Senate Finance Committee's top Republican today introduced legislation requiring hedge fund advisers to register with the SEC.
The American Stock Exchange today launched trading in the Claymore S&P Global Water Index ETF, the first exchange traded fund to cover the global water industry.
John Hancock announced today that it is expanding its lifestyle portfolio strategies to include new emerging markets, mid-cap and small-cap values into the funds.
PHILADELPHIA — Mid-cap stocks rank among the best- performing mutual funds, but they remain a tough sell to investors, industry experts say.
NEW YORK — Financial advisers and their clients aren’t giving the risk of becoming disabled the attention it deserves, according to disability insurance experts.
DETROIT — The three-year assault on mutual fund style boxes as an evaluation and asset allocation tool has moved to the beta-testing level by a firm that seeks to turn the traditional grid system inside out.
“Four score and seven years” may soon be more recognizable as the typical baby boomer life span than the start of a famous speech.
The Securities and Exchange Commission is examining disclosures for 401(k) plans and is looking at ways to provide 401(k) information using interactive software, SEC Chairman Christopher Cox said last week.
After launching 17 exchange traded funds on the American Stock Exchange yesterday, First Trust Advisors LP today moved over to the New York Stock Exchange to list three more funds.
Marsh & McLennan Cos. Inc. has consolidated its three top management consulting businesses to streamline the operations under one name and better compete for high value clients, according to Crain's New York Business.
Despite the continued – if slowing – growth of hedge funds, mutual funds will continue to dominate money management for the foreseeable future, said market observers at the ICI annual conference today.
Toppled hedge fund Amaranth Advisors LLC, has been censured by the Securities and Exchange Commission and has agreed to pay $716,000 to settle charges of violating securities rules, the SEC said.
