Marcy Gordon

March 20, 2013 | Daily Report Online

Freddie Mac has sued 15 big international banks, including JPMorgan Chase, Bank of America and Citigroup, accusing them of rigging a key interest rate and causing huge losses for the government-controlled mortgage giant.

By Marcy Gordon

2 minute read

April 05, 2007 | Daily Report Online

WASHINGTON AP - The AFL-CIO, a major shareholder in public companies, is targeting Verizon Communications Inc. this year for a shakeup of its board of directors as it accuses the company's chief executive of collecting exorbitant pay while turning in a poor performance.The labor federation scored successes last year with agitation at HomeDepot Inc.

By Marcy Gordon

3 minute read

September 05, 2008 | Daily Report Online

WASHINGTON AP - Bank of America Corp. said Friday it is ready to settle federal and state investigations into sales of risky auction-rate securities, joining eight other big investment banks that have agreed to buy back a total of more than $50 billion of the securities.Charlotte, N.C.-based Bank of America, the second-largest U.

By MARCY GORDON

3 minute read

August 26, 2009 | Daily Report Online

By MARCY GORDON

4 minute read

March 26, 2007 | Daily Report Online

WASHINGTON AP - Federal regulators censured accounting firm Ernst Young LLP on Monday and ordered it to pay $1.6 million to settle charges of compromising its independence and contributing to faulty accounting by a client in 2001.Ernst Young agreed to pay restitution and interest, and to be censured, in connection with its audit work for Pittsburgh-based PNC Financial Services Group, a large regional bank company.

By Marcy Gordon

3 minute read

October 23, 2008 | Daily Report Online

WASHINGTON AP - A key senator is examining whether a top Securities and Exchange Commission official gave sensitive information to a former colleague working at JPMorgan Chase Co. when the bank was considering whether to buy Bear Stearns.Sen. Charles Grassley of Iowa, the senior Republican on the Senate Finance Committee, has asked the SEC for information concerning its investigations of investment bank Bear Stearns Cos.

By MARCY GORDON

2 minute read

October 06, 2009 | Daily Report Online

WASHINGTON AP - Regulators and investor advocates voiced support Tuesday for a proposal that addresses consumer protection and would bring investment funds under government supervision as part of Congress' efforts to revamp the U.S. financial rule book.Republicans objected to key elements of the plan and said the Democrats crammed too many complex topics into one hearing of the House Financial Services Committee.

By MARCY GORDON

4 minute read

June 27, 2007 | Daily Report Online

By Marcy Gordon

3 minute read

July 26, 2007 | Daily Report Online

WASHINGTON AP - Securities regulators on Wednesday debated two competing shareholder rights proposals, one of which could pave the way for competitive elections for board seats at U.S. public companies.It is one of the more contentious issues to come before the Securities and Exchange Commission during the two-year tenure of Chairman Christopher Cox, and formal adoption of either proposal likely is several months away.

By Marcy Gordon

3 minute read

September 09, 2009 | Daily Report Online

WASHINGTON AP - Federal regulators on Wednesday defended their proposed $33 million settlement with Bank of America over bonuses paid by Merrill Lynch. But the Securities and Exchange Commission said the bank didn't waive attorney-client privilege, making it impossible to establish if its executives knowingly breached securities laws.

By MARCY GORDON and STEPHEN BERNARD

4 minute read