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Banks report fewer mortgages going bad
Americans are starting to get their household finances in order. In an encouraging round of earnings reports, major banks say fewer mortgages are going bad, credit card defaults are down and more people are paying the bills on time. One of the nation’s largest consumer lenders, Wells Fargo, said Wednesday that 29 percent fewer loans […]
Lord & Whip update: Judgment for Bank of America
A Baltimore County judge last week granted motions requiring at least two of Lord & Whip P.A.’s last three partners to pay a $270,000 confessed judgment filed against them by Bank of America. Jennifer S. Lubinski and Kathleen M. Bustraan had filed opposition motions to open, modify or vacate the judgments against them based on […]
Helping Others, 1/4: What businesses and firms did in 2010
The Daily Record would like to note through its fifth annual Helping Others recognition campaign the contributions of time, money and other forms of support made by Maryland businesses, law firms and institutions to worthy causes during 2010. Benefit ‘office party’ Merritt Athletic Clubs held “Baltimore’s Biggest Holiday Office Party” on Dec. 9, inviting other […]
Helping Others, 1/3: What businesses and firms did in 2010
The Daily Record would like to note through its fifth annual Helping Others recognition campaign the contributions of time, money and other forms of support made by Maryland businesses, law firms and institutions to worthy causes during 2010. Free turkey dinners Baltimore-based Swirnow Building Systems held its annual Adopt-A-Turkey program on Nov. 20, distributing more […]
Bank of America to take $2B charge to settle home loan claims
NEW YORK — Bank of America Corp. reached a $2.8 billion settlement with Fannie Mae and Freddie Mac over claims that one of its businesses sold bad mortgages. The payment is far lower than analysts expected and removes some uncertainty that has hovered over the bank. The settlement is the biggest yet involving banks and […]
14 honored with Mayor’s Business Recognition Awards
Fourteen businesses and a nonprofit organization in the Baltimore area were honored Tuesday at the 2010 Mayor’s Business Recognition Awards ceremony. The annual awards program, an initiative of the Greater Baltimore Committee and the Baltimore Development Corp., recognizes companies and nonprofits for outstanding community service and civic leadership. More than 400 GBC members and guests [&hell[...]
Federal Reserve reveals details of emergency aid to banks
WASHINGTON — The Federal Reserve on Wednesday revealed details of trillions of dollars in emergency aid it provided to U.S. and foreign banks during the financial crisis. Newly released documents show that the most loan money over time went to Citigroup ($2.2 trillion), followed by Merrill Lynch ($2.1 trillion), Morgan Stanley ($2 trillion), Bank of […]
Stocks fall Monday on Ireland bailout, Wall Street probe
NEW YORK — Stocks fell Monday as investors worried about fallout from Europe’s financial crisis and a widening probe into Wall Street insider trading. Bank stocks led the declines after the Federal Bureau of Investigation raided the offices of two hedge funds as part of a broad insider trading probe. Investment bank Goldman Sachs Group […]
Top 5: What can brown do for you?
Foreclosures, holiday shopping and troublesome text messages — these staples of the modern-day news diet dominated the list of the top 5 most-read business stories this week at The Daily Record’s website. There was also a very scary tornado that touched down in Baltimore; luckily, no one was hurt. 1. Former Baltimore Sun editor resigns […]
Bank of America making changes in foreclosure process
WASHINGTON — Bank of America is telling a Senate panel it is making changes in its foreclosure process after an extensive review found areas needing improvement. The bank is one of several big mortgage lenders that recently suspended foreclosures temporarily because of concern over flawed documents. JPMorgan Chase & Co. and Wells Fargo & Co. would […]
Lord & Whip’s old partners return to court
Six months after the dissolution of Lord & Whip P.A., the firm’s last four partners reconvened for a reunion probably none of them wanted to attend. The four lawyers — John J. Boyd, Kathleen M. Bustraan, Jennifer S. Lubinski and Edward M. Ranier — were seated at the same defendants’ table in Baltimore County Circuit […]
At Bank of America, it’s about relationships
With apologies to Jerry Maguire, the feel-good banking mantra of the day might be described as help us help you. Or, to borrow another cliche, no pain no gain. Bank of America offered fresh evidence Tuesday of how shifting its consumer banking strategy away from penalties and fees would hit its bottom line. The new […]
