Maurice “Hank’ Greenberg, who yesterday won what most considered a long-shot case with a ruling that the U.S. government acted illegally towards American International Group Inc. shareholders in the terms it imposed for its bailout in 2008, is appealing that …
It’s been a long process, but, according to Paul Fisher, deputy head of the Bank of England’s Prudential Regulation Authority (PRA), who supervises insurance and regulatory risk, the introduction of the EU’s Solvency II regulations is nearing completion. In his …
Financial industry regulators need better coordination in the event of a big multinational financial institution failing or breaching compliance rules, the world’s top supervisory bodies have concluded in a survey. Arrangements for handling failures of diverse financial groups are inadequate …
Could Warren Buffett’s Berkshire Hathaway Inc. threaten the stability of the financial system? The U.S.’s top regulators are asking themselves this question as they consider whether Berkshire and other large insurers should come under Federal Reserve oversight. The answer is …
Georgia homebuilder Blankenship Homes lost its source of loans for new construction after four local community banks failed since 2009. “The economy just shut down,” said owner Johnny Blankenship, 54, a builder for more than 30 years in Douglasville, 20 …
The board of governors of the Federal Reserve System has released transcripts, presentations and other historical materials from the Federal Open Market Committee meetings of 2008 that took place during the financial crisis. The transcripts may be found
U.S. Attorney General Eric Holder is preparing to announce new cases related to the economic meltdown in the coming months as the Justice Department nears decisions on a number of probes involving large financial firms, the Wall Street Journal reported. …
The U.S. Justice Department and multiple states are discussing also suing Moody’s Corp. for defrauding investors, according to people familiar with the matter, but any such move will likely wait until a similar lawsuit against rival Standard and Poor’s is …
The U.S. government is seeking $5 billion in its civil lawsuit against Standard & Poor’s, accusing the ratings service of defrauding investors, in one of the most ambitious cases yet from the Justice Department over conduct tied to the financial …
Standard & Poor’s said it expects to be the target of a U.S. Department of Justice civil lawsuit over its mortgage bond ratings, the first federal enforcement action against a credit rating agency over alleged illegal behavior tied to the …
