Stories by Marcy Gordon

Articles from the Marcy Gordon section archive

Friday, Oct. 25, 2013

JPMorgan paying $5.1 billion in Fannie, Freddie deal

JPMorgan Chase has agreed to pay $5.1 billion to resolve claims that it misled Fannie Mae and Freddie Mac about risky home loans and mortgage securities it sold them before the housing market ...
By Marcy Gordon

Wednesday, Oct. 16, 2013

JPMorgan pays $100 million, admits fault in London trades

WASHINGTON - JPMorgan Chase & Co. has agreed to pay a $100 million penalty and admitted that its traders acted "recklessly" during a series of London trades that ultimately cost the bank $6 ...
By Marcy Gordon

Thursday, Sept. 19, 2013

JPMorgan admits fault, pays millions in loss

WASHINGTON - The financial penalty is staggering. JPMorgan Chase & Co. will pay $920 million for trading losses that shook the financial world last year.
By Marcy Gordon

Friday, July 19, 2013

SEC files charges against hedge fund manager Cohen

WASHINGTON - The Securities and Exchange Commission leveled its most direct shot against billionaire hedge fund manager Steven A. Cohen.
By Marcy Gordon

Wednesday, June 5, 2013

SEC considers tough rules for money funds

The SEC voted 5-0 to advance the plan, which would require shares of some money-market funds to "float", instead of having a fixed value of $1 per share.
By Marcy Gordon

Wednesday, May 29, 2013

Nasdaq paying $10 million for botching Facebook IPO

Nasdaq has agreed to pay a $10 million penalty to settle federal civil charges after regulators said its systems and decisions disrupted Facebook's public stock offering last year.
By Marcy Gordon

Bank earnings set record

The industry earned $40.3 billion in the first quarter, the Federal Deposit Insurance Corp. said Wednesday. That's the highest figure ever for a single quarter.
By Marcy Gordon

Tuesday, May 21, 2013

Apple's Cook faces Senate questions on taxes

Apple CEO Cook testifies before Senate panel after report says it avoids billions in taxes
By Marcy Gordon

Tuesday, April 2, 2013

SEC says companies can use social media

The Securities and Exchange Commission will allow public companies to make significant announcements on Facebook, Twitter and other social media sites provided they alert investors which sites ...
By Marcy Gordon

Friday, March 15, 2013

Ex-executives pressed about trading loss

WASHINGTON - Two former high-ranking executives at JPMorgan Chase faced tough questions from senators Friday about why the bank played down risks and hid losses from regulators when it was losing ...
By Marcy Gordon

Thursday, March 7, 2013

Fed says biggest banks in stronger position

The Fed's annual "stress tests" showed Thursday that as a group, the 18 banks hold fewer bad loans compared with last year, helped by a stronger economy.
By Marcy Gordon

Monday, Feb. 11, 2013

1 in 4 consumers has credit-report errors

The Federal Trade Commission study also said that 5 percent of the consumers identified errors in their reports that could lead to them paying more for mortgages, auto loans or other financial ...
By Marcy Gordon

Friday, Dec. 28, 2012

Fewer US banks failing as industry recovers

Fewer banks failed nationwide in 2012 and they had their most profitable year ever as the industry strengthened.
By Marcy Gordon

Monday, Dec. 10, 2012

Fannie, Freddie managers earned $200,000

A government report finds median pay for nearly 2,000 senior managers at government-controlled Fannie Mae and Freddie Mac exceeded $200,000 last year.
By Marcy Gordon

Monday, Nov. 26, 2012

SEC official to lead agency

Mary Schapiro will step down as chairwoman after a tumultuous tenure in which she helped lead the government's regulatory response to the 2008 financial crisis. Replacing her will be Elisse ...
By Marcy Gordon

Tuesday, Nov. 13, 2012

Tighter fund rules urged

A group of federal regulators is urging the Securities and Exchange Commission to adopt stricter rules for money-market mutual funds.
By Marcy Gordon

Thursday, Nov. 1, 2012

Consumer confidence at highest since Feb. 2008

The Conference Board said Thursday that its consumer confidence index increased in October to 72.2. That's up from a revised 68.4 in September and the highest reading since February 2008, two ...
By Marcy Gordon

Thursday, Oct. 11, 2012

US foreclosure filings fall to 5-year low

U.S. foreclosure filings dropped to a five-year low in September as fewer homes were on track to be seized by lenders.
By Marcy Gordon

30-year mortgage rises to 3.39 percent

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan increased to 3.39 percent from 3.36 percent. The previous week's rate was the lowest since long-term mortgages began in ...
By Marcy Gordon

Friday, Sept. 28, 2012

Bank of America to pay $2.43 billion

Bank of America says it has agreed to pay $2.43 billion to settle a class-action lawsuit related to its acquisition of Merrill Lynch at the height of the financial crisis.
By Marcy Gordon
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