U.S. Department of the Treasury

Senate committee to look at JPMorgan loss

2012-05-14 12:22:00

WASHINGTON -- The Senate Banking Committee will examine the $2-billion trading loss by JPMorgan Chase & Co. as part of a hearing on implementation of the financial reform law. The committee's chairman, Sen. Tim Johnson (D-S.D.), made the announcement...

U.S. could make $15.1 billion profit on AIG bailout, GAO says

2012-05-08 05:56:00

The U.S. government could end up pocketing $15.1 billion in profit from the bailout of insurance giant American International Group Inc., according to a new estimate by the Government Accountability Office. The report came as the Treasury Department on...

BofA provides example of mortgage-modification foot-dragging

2012-05-07 21:35:00

This is a story of persistence. In the case of Miriam Ramirez, it's the story of trying to obtain a much-needed loan modification from Bank of America. In BofA's case, it's the story of giving a mortgage customer the runaround for two years. Loan...

U.S. bailout of AIG may net an estimated $15.1-billion profit

2012-05-08 17:55:00

WASHINGTON — The U.S. government could end up pocketing a $15.1-billion profit from the bailout of insurance giant American International Group Inc., according to a new estimate by the Government Accountability Office. The report came as the...

U.S. blacklists sons of 'Chapo' Guzman, fugitive Mexican drug lord

2012-05-08 16:38:42

Fannie Mae earned $2.7 billion in quarter, doesn't' seek aid

2012-05-09 07:24:00

U.S. mortgage giant Fannie Mae made money in the first three months of the year and is not seeking additional federal aid. It's the first time the company has reported a net income gain since it was taken over by the government during the 2008 financial...

GM chief was paid $7.7 million in 2011

2012-04-26 14:18:27

DETROIT — General Motors Co. Chief Executive Dan Akerson's pay tripled in 2011 to $7.7 million as the company posted the biggest profit in its history. But the automaker complained in its annual proxy statement Thursday that pay for Akerson and...

Fannie Mae backed principal reductions, internal documents show

2012-05-01 07:26:00

WASHINGTON -- Fannie Mae officials supported principal reductions for some struggling homeowners in 2009 and believed they would save taxpayer money, but a pilot program set to start a year later was abruptly canceled apparently for ideological reasons,...

Calls for mortgage assistance get louder in Washington

2012-05-01 18:50:00

WASHINGTON — Pressure is mounting on a key federal regulator to allow Fannie Mae and Freddie Mac to reduce loan principal amounts for struggling homeowners, after disclosures that a plan to do that was scuttled even though it was aimed at saving...

Changes may bring relief to more 'underwater' homeowners

2012-05-04 00:00:00

As many as 9,000 struggling homeowners in California could see their mortgages slashed under changes to a program aimed at people who owe more on their loans than their homes are worth. By dropping a requirement that banks match taxpayer funds, state...

Watchdog rejects idea that TARP will turn a profit

2012-04-25 07:23:00

WASHINGTON -- The government's watchdog for the $700-billion Troubled Asset Relief Program on Wednesday disputed suggestions the bailout fund would turn a profit for taxpayers, and warned that many small banks are still struggling to repay. "It is a...

U.S. puts sanctions on telecom firms in Syria, Iran

2012-04-23 17:23:00

WASHINGTON — The Internet and social media helped fuel last year's "Arab Spring" pro-democracy uprisings. Now, the Obama administration wants to prevent companies from using the same technology to help repressive regimes in Syria and Iran target...

U.S. Department of the Treasury Internal Revenue Service 1040 Individual Income Tax forms for the 2011 tax year are arranged for a photograph. Tax day this year is April 17.

2012-04-14 22:49:00

The U.S. Treasury building in Washington.

2012-04-13 00:00:00

U.S. Department of the Treasury Internal Revenue Service 1040 Individual Income Tax forms. Tax Day often sees a spike in fatal car crashes, according to the Journal of the American Medical Assn.

2012-04-11 08:27:47