Ocwen's regulatory burdens send up red flags and drive down stock price

Ocwen's regulatory burdens send up red flags and drive down stock price

Analysts lower price target, Citi drops buy recommendation

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Items Tagged with 'Citigroup'

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JPMorgan, Goldman Sachs next on earnings’ horizon

Mega banks lose to smaller lenders
July 14, 2014
Next on the earnings list, Goldman Sachs and JPMorgan Chase, but according to one analyst, the two will post more of the same.
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DOJ warns Citi settlement “will certainly not be the last”

AG Holder says cases coming soon against additional banks
July 14, 2014
“We have not ruled out holding these organizations or individuals criminally responsible,” U.S. Attorney General Eric Holder said. “The agreement does not preclude the ability to bring criminal charges.”
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It's official: Citi reaches $7B RMBS settlement

Drastically dents 2Q profits
July 14, 2014
Citigroup officially announced a $7 billion settlement to settle residential mortgage-backed securities and collateralized debt obligations with the Department of Justice after industry whispers that the bank was nearing a resolution.
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Citi earnings plummet amid $7B RMBS settlement

Report $181 million 2Q14 net income
July 14, 2014
"Our businesses showed resilience in the face of an uneven economic environment. During the quarter, we continued to grow loans in our core businesses, reduce operating expenses by simplifying our products and processes and utilize our deferred tax assets,” Michael Corbat, CEO of Citi, said.
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BlackRock, Pimco sue Wells Fargo, Citi, others over mortgage bonds

Allege that trustees should have forced banks to buy back toxic loans
June 19, 2014
BlackRock and Pimco are leading a group of investors who have filed suit against six of the largest mortgage bond trustees, alleging that the trustees failed to properly administer the mortgage trusts by not forcing mortgage lenders to repurchase toxic loans.
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DOJ seeks more than $10B from Citigroup

Lender invested over mortgage-backed bonds
June 13, 2014
Citigroup could pay more than $10 billion to settle a probe into the lender’s sale of mortgage-backed bonds in the run up to the financial crisis. This is not the first time the Department of Justice has gone after a big bank.
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Which bank's CEO earned the most bank in 2013?

Here's the list of top earners in the banking industry
June 12, 2014
Guess which CEO of which bank made the most for their efforts last year. This list of who's in the top-earners category may surprise you.
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Justice using JPM settlement to pursue other banks

Part of $13B settlement being used to beef up U.S. Attorney offices
June 11, 2014
Reuters reports, citing people familiar with the matter, that the U.S. Attorney’s offices that have been the most vigilant in pursuing banks over their loan practices have received funds to hire new civil prosecutors.
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Monday Morning Cup of Coffee: DOJ battles Citigroup, BofA over mortgage bonds

How to compete in real estate bidding wars
June 8, 2014
The Department of Justice keeps going after top banks, looking into several banks’ past dealings with mortgage-backed securities. This time Bank of America and Citigroup are on the chopping block.
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Court of Appeals: Judge should not have blocked Citigroup, SEC settlement

Overturns Judge Jed Rakoff's decision to block $285 million RMBS settlement
June 4, 2014
In the ruling, the three-judge panel wrote, “We now hold that the district court abused its discretion by applying an incorrect legal standard in assessing the consent decree and setting a date for trial.”
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