Bank channel

Fraud probe won't harm accounts, CEO says.

TD Bank of Wilmington, Del., purchased three separate failed banks in Florida late Friday, totaling $3.9 billion in assets, on a night that saw a total of eight bank collapses.

More than 18 months after the largest bank failure in U.S. history, regulators of the collapsed Washington Mutual Inc. faced a day of reckoning Friday, with a key lawmaker accusing them of gross incompetence.

The Charlotte-based banking company's strong quarter from the investment and wealth units more than offset the performance at the rest of the bank, which collectively lost $36 million in the first quarter.

The banking company has decided to shutter nine wealth management branches that were hit particularly hard by the lack of foot traffic.

Pay-to-play scandal now behind Quadrangle, although former head Rattner is still in AG's sights

The Office of Thrift Supervision was more focused on blocking the Federal Deposit Insurance Corp. from reining in Washington Mutual Inc. than it was in regulating the thrift company itself, congressional investigators and two watchdogs said Thursday.

Assets under supervision ($1.7 trillion) and assets under management ($1.2 trillion) increased 17% and 9%, respectively. The company attributed these gains to “the effect of higher market levels and inflows in fixed income and equity products offset largely by outflows in liquidity products.”

The three business units — a fund of hedge funds, hedge fund seeding and hedge fund advisory businesses — are from Citi Alternative Investment LLC and collectively have $4.2 billion of assets under management.

Four years after the Federal Deposit Insurance Corp. launched an elaborate deposit insurance pricing system, the agency has gone back to the drawing board.

Speaking Monday in Washington to a conference of the Council of Institutional Investors, Bair also reiterated her agency's hopes to tie a bank's compensation structure to its deposit insurance rate.

WASHINGTON — As the Senate prepares to debate regulatory reform legislation, Sen. Carl Levin is using the failed Washington Mutual Inc. as evidence that the bill's most contentious provisions are necessary.

The Office of the Comptroller of the Currency announced the year's 42nd failure late Friday.

Or so it would seem as execs, regulators refuse to take blame

McWhinney’s wealth management shakeup sends transaction brokers flying, but may set the stage for bank brokerage’s evolution.

Position shift could impact reg reform bill

If it were simpler to explain, address or even pronounce, interconnectedness might have been the primary target of financial system reformers.

Asset management firm's acquisition by Ameriprise will likely close within 30 days and lead to departures of fixed-income professionals

From its inception, a key pitch for legislation to rework the regulatory system has been that it will provide regulators with more tools to prevent another banking crisis. Yet the most highlighted provisions of both the House and Senate bills would give regulators authority they already have, and so far have largely ignored.

Jamie Dimon delivered a message that some pundits and lawmakers have been waiting for a while to hear from the country's bankers: an apology for helping ruin the economy.