Business

Apr 11, 2014

SAC judge approves record insider-trading accord

SAC Capital Advisors’ landmark settlement of a U.S. government insider-trading probe stretching back to 2007 was approved by a federal judge, bringing to an end the hedge fund’s role as a money manager and capping a decade of insider trading cases.

Apr 9, 2014

Fannie’s new plan threatened by rift on credit for disadvantaged

Efforts to overhaul the U.S. housing-finance system could hinge on how far Congress is willing to go to ensure that young, low-income and minority homebuyers can get mortgages.

Apr 8, 2014

Online sales tax bill work accelerating in House

House Republicans are working to advance legislation that would let states impose sales taxes on purchases from out-of-state sellers, an issue that splits the party, said Rep. Jason Chaffetz, a Utah Republican who is spearheading efforts to move the bill.

Apr 7, 2014

SAC Capital judge urged by U.S. to accept $900M penalty

SAC Capital Advisors’ plea agreement to pay a $900 million penalty should be accepted, U.S. prosecutors told a judge as they seek the biggest criminal fine ever imposed for insider trading following a six-year probe of the firm.

Apr 7, 2014

Holder vows high-speed trading probe

U.S. Attorney General Eric Holder promised Congress a thorough investigation into whether high-frequency trading violates laws against insider trading.

Apr 4, 2014

GM hearings revive debate on tougher penalties for automakers

Higher fines and jail time are being considered by U.S. lawmakers who grilled General Motors Co. Chief Executive Officer Mary Barra over why it took years to recall 2.6 million cars for faulty ignition switches.

Apr 2, 2014

FBI investigation on traders focuses on abuse of information

Federal agents are investigating whether high-frequency trading firms violate U.S. laws by acting on nonpublic information to gain an edge over competitors.

Apr 2, 2014

BofA told it should face SEC suit over mortgage securities

Bank of America Corp. should face U.S. Securities and Exchange Commission claims over $855 million in mortgage-backed securities, said a judge who last week advised that a Justice Department complaint over the same securities should be thrown out.

Mar 31, 2014

Bank of America heading to possible victory over U.S. in mortgage lawsuit

Bank of America Corp. should win dismissal of a U.S. Justice Department lawsuit accusing it of misleading investors about the quality of loans tied to $850 million in mortgage-backed securities, a judge said.

Mar 28, 2014

Fannie Mae bill seeks lender-owned mortgage-debt issuer

Fannie Mae and Freddie Mac, the mortgage-finance giants operating under U.S. conservatorship, would be unwound and replaced by a lender-owned securities issuer under a proposal from Rep. Maxine Waters.

Mar 28, 2014

Citigroup fails Fed stress test

Citigroup Inc.’s capital plan was among five that failed Federal Reserve stress tests, while Bank of America Corp. won approval for its first dividend increase since the financial crisis.

Mar 28, 2014

SEC probes risk of hackers hitting Wall Street as threats mount

The U.S. Securities and Exchange Commission will examine the exposure of stock exchanges, brokerages and other Wall Street firms to cyber-attacks that have been called a threat to financial stability.