Marcy Gordon

November 17, 2009 | Daily Report Online

WASHINGTON AP - The former top attorney of Bank of America Corp. will testify to Congress Tuesday that he wasn't involved in crafting the bank's agreement to let Merrill Lynch pay billions of dollars in bonuses to its employees, before being abruptly fired last December on the CEO's orders.Timothy Mayopoulos, who was general counsel at the second-largest U.

By MARCY GORDON

5 minute read

March 28, 2007 | Daily Report Online

By Marcy Gordon

4 minute read

June 12, 2007 | Daily Report Online

WASHINGTON AP - The Bush administration rejected a Securities and Exchange Commission recommendation in a key Supreme Court case and did not support shareholders suing Wall Street banks for damages over Enron's collapse.The Justice Department's solicitor general, who represents the administration in Supreme Court cases, did not file a friend-of-the-court brief by Monday's deadline.

By Marcy Gordon

3 minute read

December 04, 2008 | Daily Report Online

WASHINGTON AP-Investors in mortgage securities who are challenging home loan modification programs aimed at avoiding foreclosures could provoke a "backlash" from Congress, the head of the FDIC said Thursday.Sheila Bair, the chairman of the Federal Deposit Insurance Corp., made the comments in response to a question following a speech to a consumer group gathering.

By MARCY GORDON

4 minute read

July 20, 2009 | Daily Report Online

WASHINGTON AP - Regulators on Friday shut two banks in California and two smaller banks in Georgia and South Dakota, boosting to 57 the number of federally insured banks to fail this year.The Federal Deposit Insurance Corp. was appointed receiver of the four banks. The two biggest were Temecula Valley Bank, in Temecula, Calif.

By MARCY GORDON

5 minute read

October 18, 2007 | Daily Report Online

WASHINGTON AP - The man who nearly 40 years ago co-founded what is now the nation's largest mortgage lender is being scrutinized by federal securities regulators as they examine his sales of the struggling company's stock.The Securities and Exchange Commission's informal inquiry into Countrywide Financial Corp.

By Marcy Gordon

4 minute read

April 30, 2009 | Daily Report Online

WASHINGTON AP - Legislation to rein in credit card practices and eliminate sudden rate hikes and late fees that have entangled millions of American consumers is getting closer to becoming law, bolstered by presidential pressure and the backdrop of economic calamity.Measures before the House and Senate are designed to enhance protections for credit card customers.

By MARCY GORDON

4 minute read

June 13, 2007 | Daily Report Online

WASHINGTON AP - In a lawsuit that harks back to the Enron scandal, the Bush administration is at odds with the federal agency that oversees securities markets as well as with state attorneys general and consumer and investor advocates.President Bush personally weighed in with his views before the administration decided not to support investors whose securities fraud case is now before the SupremeCourt.

By Marcy Gordon

4 minute read

September 30, 2009 | Daily Report Online

By MARCY GORDON

5 minute read

March 18, 2009 | Daily Report Online

WASHINGTON AP - The Internal Revenue Service issued guidelines Tuesday that will allow tax relief and refunds for some Bernard Madoff victims who were levied for investment earnings that turned out to be nonexistent.IRS Commissioner Douglas Shulman told Congress the new guidelines are for taxpayers who have suffered losses from Ponzi investment schemes such as the massive Madoff swindle.

By MARCY GORDON

5 minute read