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Jun 28, 2011

NY court reinstates banks’ lawsuit against MBIA

ALBANY — New York’s top court on Tuesday reinstated a breach-of-contract lawsuit by a dozen banks challenging MBIA’s state-approved restructuring of its bond-insurance business, concluding the state insurance superintendent’s approval doesn’t prohibit creditor and common-law claims.

May 31, 2011

State’s top court to hear bond insurance case

ALBANY — An attorney for a dozen banks is urging New York’s top court to reinstate their breach-of-contract lawsuit challenging the state-approved restructuring of MBIA’s bond insurance business, saying they face losses they should be insured against.

May 25, 2011

Banks offer cash transfers to cell number, email

WASHINGTON — Three of the nation's four largest banks are launching a system that lets customers transfer money from their checking accounts using only a mobile number or e-mail address. The banks say the service, called clearXchange ...

May 17, 2011

Probe seeks mortgage records, official says

ALBANY — New York Attorney General Eric Schneiderman is seeking records from three major Wall Street banks as part of a broad investigation into the mortgage crisis that fueled the recession, an official familiar with the issue said Tuesday.

May 12, 2011

Regulators update Congress on financial overhaul

WASHINGTON — Federal Reserve Chairman Ben Bernanke and other regulators gave Congress an update Thursday on their efforts to implement the biggest overhaul of the nation's financial rules since the Great Depression.

Jan 13, 2011

Banks repossess 1 million homes in 2010

NEW YORK CITY — The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006.

Dec 9, 2010

Caught by mistake in the foreclosure web

Christopher Marconi was in the shower when he heard a loud banging on his door. By the time he grabbed a towel and hustled to his front step, a U.S. marshal’s sedan was peeling out of his driveway. Nailed to Marconi’s front door was a foreclosure summons from Wells Fargo ...

Dec 2, 2010

Fed ID’s companies that used crisis loan programs

WASHINGTON, D.C. — The Federal Reserve on Wednesday named the companies that used its emergency loan programs during the financial crisis and revealing how much they borrowed.

Nov 17, 2010

Fed orders new ‘stress tests’ for banks

WASHINGTON, D.C. — The nation’s largest banks must undergo new stress tests to show they can weather another recession, and the Federal Reserve said those that pass them can boost dividends paid to investors.

Nov 16, 2010

Report: Foreclosure mess could threaten banks

WASHINGTON, D.C. — The disarray stemming from flawed foreclosure documents could threaten major banks with billions of dollars in losses, deepen the disruption in the housing market and hurt the government’s effort to keep people in their homes ...

Oct 13, 2010

States’ band together to investigate foreclosure process

The attorneys general of all 50 states and the District of Columbia have banded together to investigate the practice of “robo-signing” and other concerns that have arisen about banks and mortgage processing firms.

Oct 13, 2010

Multi-state foreclosure group announced

Iowa Attorney General Tom Miller on Wednesday unveiled the details of the multi-state mortgage foreclosure working group created to review the practice of “robo-signing” and other issues that have arisen against banks and mortgage processing firms.

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