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
Regulatory and audit requirements offer banks an opportunity for a bottom-up approach to credit strategies, which can also be applied to other business processes. Key to this approach is a decision-optimization framework.
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.
A majority of U.S. small businesses are having a tough time accessing funding, holding back job growth and stunting economic growth, Duncan Niederauer, chief executive of NYSE Euronext, said in an interview.
Bankers' reluctance to lend to people with less-than-pristine credit histories is restraining the U.S. economic recovery by holding back consumer borrowing and spending, new research from the San Francisco Federal Reserve