Banks | featured news

The Federal Reserve Board on Tuesday put more pressure on banks to cut dividends as conditions deteriorate, and said it would discourage the funding of such payouts with federal rescue money.

Nationalization, perhaps a partial one, appears to be inevitable for the financial giant.

New York's attorney general is moving to force former Merrill CEO John Thain to discuss details about bonuses paid to employees before the company was sold to Bank of America.

The government may end up demanding a direct ownership stake in major banks after they undergo a tough evaluation of their strength.

State and federal bank regulators shut down tiny Silver Falls Bank of Silverton, Ore., making it the 14th bank to fail this year.

Bank of America Corp and Citigroup Inc shares plummeted for a sixth straight day on Friday, hammered by fears that the U.S. government could nationalize the banks, wiping out shareholders.

The England and Wales Cricket Board terminates all of its contracts with Texan billionaire Sir Allen Stanford.

U.S. law enforcement officials found Texas billionaire Allen Stanford in the Fredericksburg, Virginia, area on Thursday, and served him with a complaint accusing him of an $8 billion fraud.

First, Arthur Santa-Maria called Bank of America to ask how to check the balance of his new unemployment benefits debit card. The bank charged him 50 cents.

Chase CEO Jamie Dimon, whose bank received $25 billion in bailout funds from the government, refused to tell CNBC anchor Melissa Francis how the bank is performing this quarter.

"Can you tell me how this quarter is doing for JPMorgan?" Francis asked.

Dimon's brief response: "I can't."