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Europe agreed Saturday to allow Spain to tap a rescue fund of up to (EURO)100 billion ($125 billion) to bail out its troubled banks, which are struggling under the weight of soured real estate loans after a Spanish housing bubble burst. Spanish Economy Minister Luis de Guindos said the country will reveal how much money it needs within coming weeks, after audits of its financial sector are completed.

Americans can expect to see tangible results this fall from the task force President Obama created to investigate the financial crisis, New York State Attorney General Eric Schneiderman told TPM Thursday.

UBS is sitting on losses that could be as high as $350 million stemming from its investment in the Facebook initial public offering, and is preparing legal action against Nasdaq as a result, people familiar with the matter told CNBC.

Stocks closed out its best week of the year Friday, as investors played things close to the vest before the weekend when Spain is expected to request aid for its troubled banks.

A potent mix of dense disclosures, clever accounting and naive customers made for a big bank payday, despite pushes for reform.

The central bank also said it would maintain its program of low-interest lending to euro-zone banks through the end of the year.

The European Commission will propose far-reaching powers for regulators to deal with failing banks on Wednesday, a step towards the banking union the European Central Bank has demanded to secure the euro's future.

Spain's high borrowing costs mean it is effectively shut out of the bond market and the European Union should help Madrid recapitalize its debt-laden banks, Treasury minister Cristobal Montoro said on Tuesday.

Former New Jersey Gov. Jon Corzine could face a lawsuit from the trustee trying to recover $1.6 billion in customer money from the collapse of the brokerage MF Global.

J.P. Morgan Chase has returned roughly $600 million that was ensnared at the bank when MF Global collapsed in October.