Barry, Evans, Josephs & Snipes, a financial services firm in Charlotte, announced this week that it has re-established itself as an independent firm after operating for nine years as a subsidiary of Wachovia Corp.
BB&T Corp., the third-biggest bank based in North Carolina, said Thursday that second-quarter profits declined 6.6 percent on mounting losses on loans to homebuilders and developers.
The Bush administration lobbied skeptical lawmakers Wednesday to support a rescue plan for Fannie Mae and Freddie Mac, as lawmakers weighed how to protect taxpayers while still giving the government unfettered power to pour money into the mortgage giants.
Bank of America is crossing Banktown's line of demarcation, opening a branch on Wachovia's turf – and in Wachovia's old regional headquarters, no less.
The failure of IndyMac Bank has depositors worrying about what funds are insured by the Federal Deposit Insurance Corp. Here are answers to some commonly asked questions:
Bank stocks on a wild ride. Government aid for mortgage giants Fannie Mae and Freddie Mac. Testy customers lining up at the doors of a failed lender in California.
Now that the federal government has thrown a lifeline to mortgage giants Fannie Mae and Freddie Mac, taxpayers could be on the hook for billions more if the crisis of confidence spreads.
New jitters about the health of the financial system erupted ahead of another round of miserable earnings reports.
As investment bank Bear Stearns imploded this March, Bob Steel was among the financial titans weighing an unappetizing choice.
Goldman Sachs Group Inc., the alma mater of new Wachovia Corp. chief Bob Steel, has a long-held reputation for churning out men who go on to run the world. | Video
Despite the calming influence of Wachovia Corp.'s new chief executive, the Charlotte bank's shares fell 12 percent to $11.54 on Friday.
A mortgage rescue to help hundreds of thousands of struggling homeowners avoid foreclosure and get more affordable, safer loans passed the Senate overwhelmingly Friday, but it faces a bumpy road amid continuing turmoil in the housing market.
The Bush administration on Friday ruled out a nationalization of troubled government-sponsored home lenders Fannie Mae and Freddie Mac, but it left the door open for a future bailout of these critical mortgage-market entities.
Fears that the government will be forced to rescue Fannie Mae and Freddie Mac could well become a self-fulfilling prophecy.
On his first full day as Wachovia Corp.'s new leader, Bob Steel acknowledged problems at the troubled bank and pledged to face them head on.
