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US banks to settle on financial crisis penalties: report
NEW YORK (AFP) – Several major US banks are close to an agreement with the Wall Street regulator to settle fraud allegations related to the “toxic” mortgages behind the 2008 financial crisis, a report said Friday. An initial agreement with the Securities and Exchange Commission (SEC) could be settled next…
Obama calls on business to do more to boost US
WASHINGTON (Reuters) – President Barack Obama called on U.S. businesses on Saturday to do more to boost the economy by hiring more workers and making investments. The government has an obligation to make the United States the best place to do business, by providing the best schools, incentives to innovate…
US homes lost to foreclosure drops 9 pct in Oct.
US home repossessions slow in October as lenders grapple with allegations of document flaws The number of U.S. homes repossessed by lenders last month fell by the sharpest margin this year, as several major lenders temporarily halted most or all of their foreclosures amid allegations thousands of foreclosures were handled…
Lawsuits: Banks foreclosed after deciding payments too small
Grocery store owners William and Esperanza Casco were making enough money to stay current on their mortgage, but when JPMorgan Chase & Co. offered a plan that reduced their payments, they figured they could use the extra cash and signed up. The Cascos say they never missed a subsequent payment,…
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