New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America, Wells Fargo and Company and other banks violated the terms of a settlement designed to end mortgage servicing abuses.
US regulators closed two more banks on Friday - one in Utah and another in Nebraska - bringing the total number this year to 87.
The Federal Deposit Insurance Corporation (FDIC) said the SunFirst Bank of Saint George, Utah, has been closed
Bank of America and Citigroup posted better-than-expected quarterly earnings on lower credit losses, but their shares fell as the banks highlighted the challenge of boosting revenue in a stagnant economy.
Revenue is down from a year earlie
Major US banks temporarily lowered their debt levels just before reporting in the past five quarters, making it appear their balance sheets were less risky, the Wall Street Journal said, citing data from the Federal Reserve Bank of New York.
The total of US bank failures this year reached 100, when regulators closed a small Florida bank with 18 employees and one branch.
The Office of Thrift Supervision said Partners Bank of Naples, Florida, had total assets of $68.7 million, a
Three more US banks failed on Friday, bringing the total to 84 so far this year, as the industry continues to grapple with deteriorating loans on their books.
Regulators shuttered Affinity Bank of Ventura, California, Bradford Bank in Balt
Bank regulators closed five banks on Friday, bringing the number of failures so far this year to 69 as the struggling economy and falling home prices take their toll on financial institutions.
The Federal Deposit Insurance Corp estimated t
Investors were looking to Bank of America and Citigroup for a fresh dose of earnings optimism on Friday, after strong reports from JPMorgan Chase and IBM raised hopes for a global recovery.
But Google's results failed to excite and there w
The US Treasury Department is asking banks not to mention the regulatory "stress tests" as part of their first-quarter earnings results, according to a source familiar with government discussions.
Many of the top 19 US banks who are underg
US president Barack Obama could funnel up to $750 billion in fresh government aid to battered US banks, more than doubling a financial bailout approved last year, his proposed budget has revealed.
The White House penciled in a $250 billion