Stories by Marcy Gordon

Articles from the Marcy Gordon section archive

Wednesday, Sept. 24, 2014

Treasury still approving 'excessive' pay raises for top executives

WASHINGTON - The U.S. Treasury Department continued to approve "excessive" pay raises for top executives at General Motors and its former consumer finance arm, both of which received ...
By Marcy Gordon

Wednesday, Aug 27, 2014

SEC adopts rules on loan-backed securities

WASHINGTON - Financial firms that sell securities backed by loans, such as the kind that fueled the financial crisis, will have to give investors details on the borrowers under action taken by ...
By Marcy Gordon

Thursday, Aug 7, 2014

Fannie, Freddie post profits in 2Q; pay dividends

WASHINGTON — Government-controlled mortgage companies Fannie Mae and Freddie Mac posted profits for the April-June period as the U.S. housing market continued to recover.
By Marcy Gordon

Thursday, July 17, 2014

Senators call for GM to fire top lawyer

WASHINGTON - Lawmakers on Thursday demanded General Motors fire its chief lawyer and open its compensation plan to more potential victims as a Senate subcommittee delved deeper into GM's problems.
By Marcy Gordon

Wednesday, June 18, 2014

GM's response under scrutiny in Washington

WASHINGTON - Law­makers expressed disbelief Wednesday at General Motors' explanation for why it took 11 years to recall millions of small cars with defective ignition switches.
By Marcy Gordon

Wednesday, May 28, 2014

US bank earnings decline 7.7 percent in first quarter

WASHINGTON - U.S. banks' earnings declined 7.7 percent in the January-March quarter from a year earlier, as higher interest rates dampened demand for mortgage refinancing and reduced banks' ...
By Marcy Gordon

Tuesday, April 8, 2014

Regulators push for stronger bank capital

MILWAUKEE - A virus never before seen in the U.S. has killed millions of baby pigs in less than a year, and with little known about how it spreads or how to stop it, it's threatening pork ...
By Marcy Gordon

Wednesday, March 26, 2014

Federal Reserve bars Citigroup, 4 other big banks from moves

WASHINGTON - Citigroup cannot raise its dividend or buy back its own stock because it needs better plans to cope with a severe recession, the Federal Reserve ruled Wednesday, a disappointing ...
By Marcy Gordon

Friday, March 21, 2014

U.S. appeals court upholds Fed's cap on 'swipe' fees

WASHINGTON - A federal appeals court has handed a defeat to a coalition of retail groups that challenged as too high the Federal Reserve's cap on how much banks can charge businesses for handling ...
By Marcy Gordon

Thursday, March 20, 2014

Nearly all major US banks pass Fed 'stress tests'

WASHINGTON - All but one of the nation's 30 largest banks are better able to withstand a severe U.S. recession and global downturn than at any time since the financial crisis, the Federal Reserve ...
By Marcy Gordon

Friday, March 14, 2014

FDIC suit says 16 big banks rigged key rate

The Federal Deposit Insurance Corp. has sued 16 big banks that set a key global interest rate, accusing them of fraud and conspiring to keep the rate low to enrich themselves.
By Marcy Gordon

Wednesday, Feb. 19, 2014

FCC won't appeal ruling on Internet neutrality

WASHINGTON - The Federal Communications Commission says it won't appeal a court decision that struck down so-called 'Net Neutrality' rules. The agency says it will fashion new rules. 
By Marcy Gordon

Thursday, Dec. 12, 2013

Merrill paying $131.8 million to settle SEC charges

WASHINGTON - Merrill Lynch has agreed to pay $131.8 million to settle U.S. civil charges that it misled investors about risky mortgage bonds it sold ahead of the 2008 financial crisis.
By Marcy Gordon

Friday, Nov. 15, 2013

JPMorgan Chase reaches $4.5 billion settlement

JPMorgan Chase & Co. has settled with investors who said the bank de­ceived them about bad mortgage in­vestments.
By Marcy Gordon

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
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