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6 HOURS AGO - Business Insider

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BANK OF AMERICA AGREES TO PAY $16.65 BILLION SETTLEMENT

Bank of America has agreed to pay the U.S. government $16.65 billion to end a mortgage probe over subprime mortgages sold before the financial crisis, Bloomberg News report. Shares of Bank of America are trading up slightly in the pre-market. Here's the release: Bank of America announced today that it has reached a comprehensive settlement with the U.S. Department of ...

Tags: BANK OF AMERICA AGREES TO PAY $16.65 BILLION SETTLEMENT,  Financial Conduct Authority Latest News

AUG 20, 2014 - Business Insider

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StanChart's $300 Million Fine Raises Heat On Board

By Jonathan Stempel and Matt ScuffhamNEW YORK/LONDON (Reuters) - A $300 million fine on Standard Chartered for lapses in anti-money laundering controls has piled pressure on the bank's board, coming after a series of transgressions and a drop in earnings that had already prompted calls for change at the top.Chief Executive Peter Sands has faced criticism following big losses in ...

Tags: StanChart's $300 Million Fine Raises Heat On Board,  Financial Conduct Authority Latest News

AUG 15, 2014 - Business Insider

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Exclusive: UK Nears Decision On Whether To Charge Ex-Barclays Bankers Over Qatar - Sources

By Kirstin Ridley and Steve SlaterLONDON (Reuters) - Britain's fraud prosecutor could decide as soon as next month whether to charge former Barclays executives over undisclosed payments the bank made to Qatari investors in 2008, three sources familiar with the investigation said.In a two-year investigation the Serious Fraud Office (SFO) has interviewed former chief executives Bob Diamond and John Varley, ...

Tags: Exclusive: UK Nears Decision On Whether To Charge Ex-Barclays Bankers Over Qatar - Sources,  Financial Conduct Authority Latest News

AUG 15, 2014 - Business Insider

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Corporate Founders Battle Boards To Overturn Forced Exits

By Nadia DamouniNEW YORK (Reuters) - From American Apparel Inc to Lululemon Athletica Inc, Men's Wearhouse Inc and Best Buy Co Inc, a series of boardroom battles across North America underscore how difficult it can be for companies to part ways with their founders.In each of these cases, the boards decided it was time for the founders to step down ...

Tags: Corporate Founders Battle Boards To Overturn Forced Exits,  Financial Conduct Authority Latest News

AUG 12, 2014 - Yahoo! News

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Bischoff to become chairman of JPMorgan in Europe

By Huw Jones LONDON (Reuters) - Win Bischoff, chairman of Britain's accounting watchdog the Financial Reporting Council, will also become chairman of JPMorgan Chase's European arm from January, the investment bank said on Tuesday. His appointment to JPMorgan comes at a time when British lawmakers are keen for the FRC to scrutinize the accounts of banks more closely. The FRC ...

Tags: Bischoff to become chairman of JPMorgan in Europe,  Financial Conduct Authority Latest News