Five Large US Banks Do Not Have Sufficient Plan for Crisis Due to Lack of Information

GAO suggested financial regulators to disclose more information on their crisis policy framework. While five large banks do not have enough plan to manage operation during crisis.

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US marijuana dispensaries turn to venture capitalists for seed funding

Medical and recreational marijuana dispensaries in Las Vegas, US are increasingly turning to venture capitalists for seed money due to lack of loan sources, as the drug is deemed illegal by the federal government.

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JPMorgan strikes back, sues FDIC

JPMorgan Chase has filed a case against the Federal Deposit Insurance Corporation in a bid to recover more than a billion dollars from the government agency which managed the receivership of Washington Mutual.

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Ally Financial reaches settlement with housing regulators

Ally Financial wrote down a USD170 million charge for its third quarter earnings after reaching a settlement with two US housing regulators.

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Too big to fail is not a reason anymore

Banking regulators now are empowered to confiscate and break up a financial institution if bankruptcy would only hurt the economy.

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