Wells Fargo & Co create underwriting group to keep mortgages inhouse
San Francisco-based Wells Fargo & Co has given the task of originating mortgages for the largest home lender in the US to 400 underwriters, Bloomberg reported.
Commercial banks
Mexico's Sinaloa Drug Cartel Members Found Citi ‘Favorable’ for Money Laundering: Report
US officials said that drug traffickers for Mexico's Sinaloa cartel chose to launder money through Citi.
Sanctioned Russian Billionaire Files Lawsuit Against UBS in Germany Over Money Laundering Alerts
Russian billionaire Alisher Usmanov has filed a lawsuit against a German unit of UBS Group AG over anti-money laundering reports that triggered a criminal investigation of him...
US Regulators Considering Slashing Proposed Capital Hike for Big Banks: Report
The Federal Reserve and two other US regulators are reportedly considering a new plan to reduce a nearly 20% mandated increase in capital for the country's largest banks...
US Banks See Loan Demand Drop, Fed Survey Says
US banks have observed a fresh decline in loan demand for industrial purposes and household demand for credit during the first quarter of the year, according to a Federal Reserve survey...
US Regulators Take Hold of Troubled Lender Republic First and Agree to Sell It to Fulton Bank
US regulators have taken hold of Republic First Bancorp and arranged t...
HSBC Is Considering Selling Some Business Units in Germany to Focus on Asia as It Further Exits From Europe
HSBC is reportedly considering selling various business units in Germa...
Latest News
Citizens Financial Group to exit retail branches in Chicago area to US Bancorp
Citizens Financial Group, a unit of the Royal Bank of Scotland, said it had agreed to exit its Chicago area retail branches and small business operations to US Bancorp.
Fall in cross border capital flows raises worries about strength of economic recovery- report
The flow of money across the worldwide financial system is still the same as that a decade ago, raising questions about the pace of economic recovery years after the financial crisis, the Financial Ti
China's State Council publishes guidelines to strengthen shadow banking regulation-report
Citing a copy it obtained of Document 107, Reuters reported that the State Council of China has published guidelines that aim to fortify regulation against the risky practice of shadow banking.
Alitalia seeks €50M additional loan from Italian lenders UniCredit, Intesa Sanpaolo
Alitala, Italy's flag carrier, has written to Italian banks UniCredit and Intesa Sanpaolo asking to extend an existing loan agreement by €50 million. This comes on top of the €200 million in bank loan
JPMorgan Chase & Co agrees on settlement to Pittsburgh bank lawsuit
JPMorgan Chase & Co settled a lawsuit brought against it by the Federal Home Loan Bank of Pittsburgh involving the losses it sustained from mortgage securities it bought from the bank, Bloomberg repor
Private lending in the Euro Zone drops to 20-year low
The data released in a report by the European Central Bank on Friday saw the hesitation of financial institutions in extending credit to households and businesses despite the economic recovery of the
Singapore's OCBC makes binding offer for Hong Kong's Wing Hang Bank- sources
Citing sources, Bloomberg reported that Singaporean lender Oversea-Chinese Banking Corp or OCBC has submitted a binding offer for Hong Kong-based family-run lender Wing Hang Bank Ltd.
Delmarva Bancshares secures $11M in private placement
Delmarva Bancshares Inc, the bank holding firm for the National Bank of Cambridge, was able to raise $11 million in a private placement participated in by a group which included Castle Creek Capital.
Zyden Gentec shares fall as Punjab National Bank offloads its 3% stake
Zyden Gentec Ltd.'s shares fell by 5% to INR15.25 per share after Punjab National Bank's recent stake sale. PNB had sold 335,141 of its shares in the pharmaceutical company, which represents a 3% equi
