| Aug 13, 2014
| 2:32 PM
The Los Angeles City Council unanimously voted Wednesday to try to get out of borrowing deals with banks that advocates say are siphoning off money from the city.
But at the council meeting, questions arose about how and where the city could use any...
| Aug 13, 2014
| 7:39 PM
The Los Angeles City Council voted unanimously Wednesday to seek to redo borrowing deals with two banks that advocates say are charging excessive interest rates and eating up money that could help with major infrastructure repairs.
The vote made Los...
| Aug 14, 2014
| 9:00 PM
First lady Michelle Obama has led the charge to cut Americans down to size, encouraging couch spuds to reduce their girth.
Not only are diet discussions gaining traction in supermarkets, but also in U.S. financial markets. A rising chorus of powerful...
| Aug 14, 2014
| 8:38 PM
Big U.S. banks have paid billions of dollars to settle claims by state and federal prosecutors that they trapped unsophisticated borrowers in disastrous subprime mortgages at the height of the housing boom. Now, some Los Angeles City Council members argue...
| Aug 5, 2014
| 8:13 PM
Six years after the financial crisis, regulators said that 11 banks deemed too big to fail still have produced no workable procedures to help regulators shut them down should they ever reach the brink of failure.
The Federal Reserve and the Federal...
| Jan 31, 2014
| 5:44 PM
NEW YORK — A New York state judge has approved nearly all of an $8.5-billion settlement between Bank of America and large investors who suffered losses in mortgage-backed bonds stemming from the housing meltdown.
The settlement centers around...
| Dec 26, 2013
| 5:39 PM
NEW YORK — A federal judge will soon decide how much Bank of America should pay for some of Countrywide Financial Corp.'s sins in the lead-up to the financial crisis.
Federal prosecutors want BofA to pay $864 million after the bank's stinging...
| May 2, 2014
| 1:28 PM
A Los Angeles city councilman wants out of deals with two Wall Street banks he says are costing the city money.
Councilman Paul Koretz introduced a motion Friday that calls on two banks to either renegotiate contracts with the city at no cost, or for...
| Mar 20, 2014
| 1:30 PM
WASHINGTON -- Only one of the nation's 30 largest banks would not be able to withstand a severe recession and the firms collectively are in better financial position to handle economic shocks than five years ago, according to Federal Reserve stress test...
| Feb 26, 2014
| 3:38 PM
Eric Bloom was still in his 20s when he took over his father’s Sentinel Management Group Inc., a well-connected Northbrook money management firm known for always paying dividends on safe, reliable investments.
But prosecutors say Bloom secretly...
| Nov 15, 2013
| 7:51 AM
WASHINGTON -- Moody's Investor Services on Friday said it cut the credit ratings for four big U.S. banks because of reduced chances the government would bail them out in a future crisis.
The ratings for bank holding company debt of JP Morgan Chase & Co....