By Kirsten Valle Pittman | E-mail
| February 11, 2012
The $25 billion foreclosure agreement between big banks and state attorneys general marks a turning point for lenders, including Charlotte's Bank of America Corp., looking to move beyond their mortgage woes, some industry experts say.
By Pallavi Gogoi | The Associated Press
| February 11, 2012
On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange. One in 10 belongs to a single company. It's not McDonald's or IBM, both of which have been on a tear.
Underwater homeowners in North Carolina could get principal reductions on their mortgages as early as next month after states and federal agencies announced a $25 billion settlement.
North Carolina will receive $338 million in the settlement, more than half of which will go toward principal reduction or other help for struggling homeowners.
By Franco Ordoñez | Observer Washington Bureau
| February 9, 2012
Attorney General Roy Cooper announced today that N.C. will receive $338 million in assistance as part of a multibillion dollar federal settlement with five of the nation’s largest banks over foreclosure abuses.
By Donal Griffin | Bloomberg News
| February 9, 2012
Costs from faulty mortgages and shoddy foreclosures have topped $72 billion at the biggest U.S. banks as they near a settlement of a 50-state probe into the industry's practices.
Gastonia-based Alliance Bank and Trust Co. has been ordered to review its management and create a plan to resolve problem loans as part of an agreement it has entered into with the FDIC. The consent order went into effect Feb.
Public concern grows that a lack of open conversation may lead to another financial collapse. At the core: The difference between legal and ethical in a high-stakes environment.
