Bank Failures, Bankruptcy | featured news

A bankruptcy judge rejected Washington Mutual's Chapter 11 plan for a second time, finding the company was too generous with senior creditors but not dismissing the central details of the plan.

Washington Mutual reached a deal that could end a two-and-a-half-year bankruptcy odyssey that began with the largest bank failure in U.S. history.

CIT, the troubled American bank, is offered a $6bn rescue loan from investor Carl Icahn as it tries to avoid bankruptcy.

Reserve Primary Fund founder Bruce Bent Sr. was among those charged with fraud on Tuesday by securities regulators for allegedly failing to tell investors about the fund's vulnerability to Lehman Brothers' bankruptcy.