Featured Post

Latest Gold News

Economic power could shift further East with Hong Kong gold exchange Russian investment bank sees $1,400 gold by end of 2017 Weak CPI...

Tuesday, March 29, 2011

BofA (BAC), (GOM) (JPM) (C) (WFC), in Home-Loan-Service Settlement

Bank of America (NYSE:BAC), Ally Financial (NYSE:GOM), JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C) and Wells Fargo & Co. (NYSE:WFC) are reportedly going to meet with regulators this week in Washington to work out a settlement over home-loan-service issues.

The giant banks are expected to discuss a 27-page “term sheet” that state attorneys general and federal regulators sent to lenders earlier in March, according to a spokesman for Iowa Attorney-General Tom Miller, who is leading the state efforts.

This will be the first meeting between government officials and the banks since the news leaked about the probably settlement being worked out.

Ally Financial closed Monday at $24.04, up $0.03, or 0.12 percent. Bank of America closed at $13.37, up $0.03, or 0.22 percent. JPMorgan closed at $45.96, gaining $0.10, or 0.22 percent. Citigroup closed at $4.43, falling $0.03, or 0.67 percent. Wells Fargo closed the session at $31.61, down $0.33, or 1.03 percent.

No comments: