Items Tagged with 'Regions Financial'

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  • Regions Bank next on DOJ hit list, will pay $52.4 million for FHA-lending violations

    Becomes latest lender to be accused of violating False Claims Act
    Over the last few years, the Department of Justice used the False Claims Act as its weapon of choice against the mortgage industry, using the law to extract settlements from lenders for supposedly misrepresenting the quality of loans to the Federal Housing Administration. And now, Regions Bank is the latest on the DOJ’s hit list, after agreeing to settle False Claims Act charges for $52.4 million.
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  • Regions Financial 4Q earnings fall

    Bank continues to feel the impact of mortgage issues
    Regions Financial Corp. reported a 16% annual profit decline in the fourth-quarter of 2013, as the institution took a hit from the transfer of bad loan debt, the termination of retail branch leases, a charge from the closure of 30 branches and a $58 million expense stemming from a five-year federal probe into the company’s classification of bad loans.
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  • Stress Tests End; Raising Money Begins

    The wait is over. Stress test results reveal nine of the nation's 19 largest banks successfully endured the government's testing and will not require any additional capital, while the other 10 banks must boost capital levels by a collective total of $74.6bn, in order to comply with government standards, said the Federal Reserve this afternoon. Bank of America [stock BAC][/stock] stands the front-runner, requiring $33.9bn in fresh capital, followed by Wells Fargo [stock WFC][/stock] who must raise $13.7bn in new capital.
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  • BofA, Citi May Need to Boost Capital: WSJ

    Bank of America [stock BAC][/stock] and Citigroup [stock C][/stock] may face regulator pressure to raise billions of dollars in capital after the government-imposed stress tests of the 19 largest US banks, unnamed sources told the Wall Street Journal. The banks, both recipients of  $45bn through the Treasury Department's Troubled Asset Relief P
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