A senior adviser to
President Barack Obama said the White House will soon renew
efforts to push cyber security legislation through Congress,
though he foresaw an uphill battle given the failure of the last
Five top U.S. banks have
provided $45.8 billion worth of relief to struggling homeowners
under a 2012 federal-state settlement to resolve mortgage
abuses, according to a report released Thursday by a monitor of
By Karen Freifeld and Aruna Viswanatha, Reuters | February 21, 2013
The U.S. Justice Department is
investigating JPMorgan Chase & Co over allegations that
Bear Stearns provided misleading information about its mortgage
products during the lead-up to the financial crisis, according
to people familiar with the matter.
While the President’s executive order on cyber security last week brought public attention to the growing issue of cyber threats, legislation is still needed from Congress to help block attacks like those aimed at banks in recent months.
European data watchdogs said on
Monday they plan to take action against Google by this
pool user data from across all its services ranging from YouTube
A report from research firm SNL Financial argues that if Basel III had been in effect over the last year, banks would have experienced sizable inflation in their regulatory capital by including unrealized gains and losses.
U.S. auto lender Ally Financial has
satisfied a requirement to provide $200 million in home loan
modifications and other consumer relief under last year's $25
billion national mortgage settlement, the pact's monitor said
New rules on how much collateral
is needed to back derivatives trades are unlikely to be
finalised before September, leaving markets in limbo as global
regulators seek to minimise potential harm to economic recovery.
By John O'Donnell and Eva Kuehnen, Reuters | February 08, 2013
It was billed as a
reform that would tighten policing of Europe's banks and end
their ability to suck states into crisis. Now fears are growing
that a central element of banking union will be scaled back,
undermining the whole scheme.