Finance
BofA must face fraud lawsuit by Tutor Perini over debt sales
A U.S. appeals court on Monday revived a lawsuit accusing Bank of America Corp of defrauding Tutor Perini Corp by selling the construction company millions of dollars of auction-rate securities it knew were on the brink of collapse.
Wells Fargo payouts should be halted in wake of ruling: U.S. lawmakers
WASHINGTON The U.S. government should go after payouts to former Wells Fargo & Co executives involved in a scandal over unauthorized accounts now that a federal regulator has said it has the power to do so, lawmakers said on Monday.
Citi and JPMorgan top list of globally systemic banks
LONDON Citi has joined JPMorgan at the top of global regulators' list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019 to help preserve financial stability.
Achleitner's bid for five more years at Deutsche splits investors
FRANKFURT Paul Achleitner's nomination for a new term as Deutsche Bank chairman has split investors, with Qatar's Sheikh Hamad bin Jassim al-Thani backing him but other shareholders reluctant to give their support, according to people with knowledge of the matter.
Deutsche nominates chairman for second term, clears him of Libor blame: source
FRANKFURT Deutsche Bank has nominated its chairman for a second term after an internal probe cleared him of accusations that he was partly to blame for the bank's poor cooperation with authorities in a probe into rate-rigging, a source close to the bank said.
Wells Fargo faces tighter controls as U.S. regulator reverses course
WASHINGTON A leading U.S. bank regulator on Friday reversed course and positioned the agency to claw back pay of former executives at Wells Fargo & Co after a phony-accounts scandal.
Ex-JPMorgan executive who fled to Argentina pleads guilty in U.S.
NEW YORK A former JPMorgan Chase & Co executive who spent eight years on the run in Argentina pleaded guilty on Friday to U.S. charges that he embezzled $5.4 million from clients at the bank and at a prior employer, UBS AG.
Nomura, RBS appeal U.S. judge's $839 million mortgage bond award
NEW YORK A U.S. appeals court appeared unlikely on Friday to overturn an order requiring Nomura Holdings Inc and Royal Bank of Scotland Group Plc to pay $839 million for making false statements while selling mortgage-backed securities to Fannie Mae and Freddie Mac.
Deutsche Bank looking to cut back U.S. mortgage securitization: sources
FRANKFURT/LONDON Deutsche Bank is looking to cut its loan securitization business further starting with repackaged U.S. mortgages, two people familiar with the matter said, as the lender braces for a large fine in the United States for alleged mis-selling of such debt.
JPMorgan has clutch of CEO understudies, people guessing on winner
NEW YORK JPMorgan Chase & Co is once again facing questions about who will succeed its larger-than-life chief executive after Jamie Dimon was courted by the incoming U.S. president for the role of Treasury secretary.
