The plaintiff's bar will continue pushing for the elimination of industry arbitrators, said Brian Smiley, the new president of PIABA.
T. Rowe Price Group Inc. reported its first profit drop since 2003 today as weak credit conditions led to a steep decline in inflows.
A Boston federal jury found that disability insurer Unum Group committed fraud against the United States in some of its disability cases.
Charles Schwab has upgraded its online trading system, and TD Ameritrade Institutional is offering advisers preferred pricing for donor-advised funds
Six Democratic House leaders who deal with financial services issues, including Rep. Barney Frank, D-Mass., Friday expressed “outrage” over a news report that some hedge funds have tried to convince companies that service mortgages not to take advantage of legislation aimed at reducing foreclosures, because it would hurt their mortgage investments.
More than 50 letters that contained threats and an unidentified white powder have been mailed to U.S. financial institutions and government offices.
The Treasury Department wants insurance companies to participate in its $700 billion bailout program —and it may take equity stakes in return.
In another sign that the housing turmoil continues to deepen, foreclosure activity surged more than 70% in the third quarter from the same period a year ago, according to the latest data from RealtyTrac of Irvine, Calif.
Following the “breakdown of the central pillar of competitive markets,” new regulatory changes will be needed in the areas of fraud, settlements and securitization in order for the financial markets to “return to stability,” former Federal Reserve Chairman Alan Greenspan said today.
The Financial Industry Regulatory Authority Inc. today announced agreements in principle with Bank of New York Mellon Capital Markets LLC, City National Securities Inc. and Harris Investor Services Inc. to settle charges related to the selling and marketing of auction rate securities.
