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Fifth Third 3Q net income falls on charges

Submitted by Fox First at Ten on October 18th

By LISA CORNWELLAssociated Press CINCINNATI (AP) - Fifth Third Bancorp reported Thursday that its third-quarter net income fell because of one-time expenses related to debt repayment and accounting issues. Still, the Cincinnati-based bank reported improving lending business trends, and beat

Profits soar at 2 largest mortgage lenders

Submitted by Fox First at Ten on October 12th

By CHRISTINA REXRODE and DANIEL WAGNERAP Business Writers NEW YORK (AP) - Is the mortgage market really back? The country's two biggest mortgage lenders, Wells Fargo and JPMorgan Chase, reported Friday that a surge in home lending pushed them to record profits. JPMorgan CEO Jamie Dimon

Wells Fargo earnings rise in 3Q as loan book grows

Submitted by Fox First at Ten on October 12th

By DANIEL WAGNERAP Business Writer Wells Fargo posted record earnings in the third quarter as the bank increased mortgage lending and pocketed more fees. Wells, the nation's biggest mortgage lender, expanded its loan portfolio by making new loans to consumers. It collected more interest on

JPMorgan turns in record profit, higher revenue

Submitted by Fox First at Ten on October 12th

By CHRISTINA REXRODEAP Business Writer NEW YORK (AP) - JPMorgan Chase, the country's biggest bank, reported a record quarterly profit Friday, helped by a surge in mortgage refinancing. CEO Jamie Dimon said he believed the housing market "has turned a corner." The bank made $5.3 billion from

JPMorgan turns in record profit, higher revenue

Submitted by Fox First at Ten on October 12th

Long shadow of financial crisis haunts banks

Submitted by Fox First at Ten on October 11th

By CHRISTINA REXRODEAssociated Press NEW YORK (AP) - The hot trend in banking now: Betting which one will be next to get sued. Major U.S. banks start reporting third-quarter earnings Friday. And while some of the cold fear of the scandal-filled second quarter has worn off, and revenue is

US sues Wells Fargo over FHA-insured loan defaults

Submitted by Fox First at Ten on October 9th

NEW YORK (AP) - The federal government has sued Wells Fargo in a New York court, accusing the nation's largest mortgage lender of misrepresenting the quality of thousands of loans in order to be eligible for federal loan insurance. The lawsuit, filed Tuesday in federal court in Manhattan, seeks

Consumer regulator barks, and an industry shudders

Submitted by Fox First at Ten on September 12th

By DANIEL WAGNERAP Business Writer WASHINGTON (AP) - The new federal agency charged with enforcing consumer finance laws is emerging as an ambitious sheriff, taking on companies for deceptive fees and marketing and unmoved by protests that its tactics go too far. In the 14 months it has existed

AP IMPACT: Aggressive start for consumer bureau

Submitted by Fox First at Ten on September 12th

Consumer finance watchdog: A birthday, but no one comes

Submitted by Fox First at Ten on August 14th

By Josephine Massey The first anniversary of American consumers' new financial watchdog came and went without fireworks. The Consumer Financial Protection Bureau (CFPB) didn't trumpet its accomplishments. Its opponents didn't blast it for regulatory overreach. For an agency that (