JPMorgan Chase was said to have agreed to pay about $2 billion to federal authorities to avoid litigation in the case of Bernard Madoff who masterminded the biggest fraud on record. read more

JAN 6, 2014 - 7:12 am

Bloomberg reported that the final version of the Volcker Rule was challenged in a lawsuit over claims that requiring small banks to divest their holding in some CDOs will cause them about $600 million in losses. read more

DEC 27, 2013 - 7:12 am

CIT said it agreed to pay Tyco International $60 million to settle a tax dispute that related to an agreement that the two companies entered into in 2001 in connection with CIT’s separation from Tyco. read more

DEC 23, 2013 - 7:22 am

The SEC said it charged Merrill Lynch with making faulty disclosures about collateral selection for two CDOs that it structured and marketed to investors in 2006 and 2007. Merrill agreed to pay $131.8 million to settle the charges. read more

DEC 13, 2013 - 7:05 am

Reuters reported that American Airlines is seeking to reprice its $1.9 billion exit financing with Deutsche Bank, the lead arranger. The article said the goal is to reprice the loan to a LIB+325 spread, with a 1% LIBOR floor. read more

DEC 6, 2013 - 7:00 am

Total bankruptcy filings in the U.S. for November decreased 15% compared to the previous year, and commercial filings dropped 28%, according to the American Bankruptcy Institute. read more

DEC 5, 2013 - 3:30 pm

The SEC charged Fifth Third and its former CFO, Daniel Poston, with improper accounting of commercial real estate loans in the midst of the financial crisis. read more

DEC 5, 2013 - 7:10 am

Bloomberg reported that six international banks were fined a record $2.3 billion by the European Union for rigging rates linked to LIBOR. read more

DEC 4, 2013 - 7:10 am

Bloomberg reported the six biggest U.S. banks have allotted more than $100 million to cover litigation and settlement expenses since the financial crisis. Europe’s largest banks have racked up more than $77 billion. read more

NOV 22, 2013 - 7:12 am

The U.S. Justice Department announced a $13 billion settlement with JPMorgan to resolve claims arising out of the packaging, marketing, sale and issuance of RMBS by JPMorgan, Bear Stearns and Washington Mutual. read more

NOV 20, 2013 - 6:10 am

The Brownsville Herald reported that Key Equipment Finance has filed a civil complaint against Brownsville Doctors Hospital, claiming the hospital owes $1.9 million in medical equipment lease payments. read more

NOV 18, 2013 - 6:25 am

Global Aviation Holdings announced the company and its subsidiaries filed voluntary petitions under Chapter 11. The company intends to continue to operate during the reorganization process. read more

NOV 12, 2013 - 7:20 am

The Wall Street Journal reported that the U.S. government is seeking $864 million in penalties from Bank of America over a loan production program called the “Hustle.” read more

NOV 11, 2013 - 6:30 am

Bloomberg reported that SAC Capital will pay $1.8 billion to resolve a criminal indictment brought against the firm for insider trading. The fine is the largest fine for insider trading in U.S. history. read more

NOV 5, 2013 - 6:30 am

Bloomberg reported that Fannie Mae sued nine banks alleging their manipulation of the LIBOR rate, which four of them admitted, cost FNMA about $800 million. read more

NOV 1, 2013 - 6:25 am