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Tag Archives: fed

Fed warns Bank of the Eastern Shore

Federal banking regulators have ordered the troubled Bank of the Eastern Shore, which has two branches in Cambridge, to take steps to strengthen its financial position. The Federal Reserve System directed the bank’s management either to sell shares or take ...

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Fed’s low-interest pledge lifts stock market

WASHINGTON — The Federal Reserve guaranteed super-low interest rates for two more years Tuesday — an unprecedented step to arrest the alarming decline of the stock market and the economy. Wall Street roared its approval and finished a wild day ...

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Regulators balk at demands for foreclosure reports

WASHINGTON — Banking regulators refused to commit to releasing details of their investigations into illegal foreclosure practices by the nation’s largest banks. Appearing before a Senate panel Thursday, Federal Reserve Chairman Ben Bernanke and Acting Comptroller of the Currency John ...

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Rate on 30-year fixed mortgage rises to 4.60 pct.

WASHINGTON — Fixed mortgage rates rose this week by the most in four months. The average rate on the 30-year loan increased to 4.60 percent, up from 4.51 percent a week ago, Freddie Mac said Thursday. It hit its lowest ...

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Fed still faces challenges keeping economy growing

WASHINGTON — We may be into the second year of the economic recovery, but Federal Reserve Chairman Ben Bernanke and his colleagues are still facing plenty of challenges as they try to keep a fragile expansion on track. A host ...

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