Ally Financial Inc's banking subsidiary
said on Friday that it was looking to sell most of its remaining
mortgage business, the company's latest step toward exiting the
home loan business to focus on its U.S. auto lending and banking
Conflicts with Citigroup's board may have spurred the unexpected resignations of CEO Vikram Pandit and president/COO John P. Havens; Michael Corbat promoted from Citigroup's CEO of EMEA to CEO and director of Board.
Fannie Mae agreed to pay Bank
of America Corp about 20 percent more than it was
contractually obligated to last year in order to transfer the
servicing of troubled loans to another firm, a report by a
Britain's Barclays has picked softly spoken retail boss Antony Jenkins as its new chief executive to fill the shoes left by Bob Diamond, the colourful American investment banker who resigned after a rate-rigging scandal.
Bank of America Corp hasn't completed any first-mortgage modifications that reduce loan balances for borrowers so far under a $25 billion settlement reached this year, the official monitoring the agreement said Wednesday.