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A proposed settlement to resolve mortgage abuses by top U.S. banks will give states broad authority to punish firms that mistreat borrowers in the future, according to documents seen by Reuters on Wednesday.

JPMorgan Chase & Co has agreed to drop almost all of a $710 million claim against Lehman Brothers Holdings Inc's bankruptcy estate, freeing up more money to be distributed to creditors, Lehman said on Wednesday.

JPMorgan Chase & Co has agreed to drop almost all of a $710 million claim against Lehman Brothers Holdings Inc's bankruptcy estate, freeing up more money to be distributed to creditors, Lehman said on Wednesday.

A proposed settlement to resolve mortgage abuses by top U.S. banks will give states broad authority to punish firms that mistreat borrowers in the future, according to documents seen by Reuters on Wednesday.

Investment bank JP Morgan is bulking up its metal warehousing facilities in Rotterdam and Chicago, industry sources say, in a business that consumers complain deliberately delays delivery of metals to boost revenues from rent.

JPMorgan on Tuesday said its global co-head of emerging markets and head of fixed income for Asia would be leaving the company.

Facebook's initial public offering is likely to set a new standard for how low investment banks are willing to go on advisory fees to win big business.

A tumultuous 12 months that saw revolutions in the Middle East, a worsening debt crisis in Europe and a tsunami in Japan has set the tone for corporate activity in 2012.

U.S. Attorney General Eric Holder Friday announced the formation of a task force focused on probing residential mortgage-backed securities following President Barack Obama's call for a unit to probe the finance industry's conduct leading up to the financial crisis.

Bank of America Corp was the fourth-biggest U.S. mortgage lender in the fourth quarter of 2011, continuing its descent in the rankings after it stopped buying loans made by smaller banks.

JPMorgan Chase & Co. Chief Executive Jamie Dimon said President Barack Obama's decision to expand investigations into home lending and sales of mortgage securities could stop settlement talks with the states over foreclosure practices.

New York Attorney General Eric Schneiderman has been a leading critic of a deal with the nation's largest mortgage servicers over improper foreclosure practices.

European shares and the single currency held firm on Wednesday as investor focus switched to the broader economic outlook and some strong results from leading U.S. companies, and away from worries about the stalemate in Greek debt talks.

Asian shares rose on Wednesday, underpinned by strong earnings from U.S. technology giant Apple, stabilizing European money markets and falling eurozone debt yields, with investors shifting their focus from Europe to the U.S. Federal Reserve.

As state and federal officials near a deal with top banks to settle claims of foreclosure abuses, left-leaning activist groups have stepped up pressure on the officials to reach a deal that demands more from the banks.

PETA, the animal rights group, is seeking to obtain O.J. Simpson's Florida home from JPMorgan Chase for a Meat is Murder museum.

Bank of America Corp (BAC.N) may give shares worth $1 billion to employees instead of cash as part of bonuses and hold back on dividend increases and buybacks, as the second-largest U.S. bank grasps for ways to boost its capital levels.

A pricey settlement over bond insurance pushed Morgan Stanley into the red in the fourth quarter, but the Wall Street bank still posted better-than-expected results, due to a focus on cost cuts and relatively strong performance in equities trading.

A special charge pushed Morgan Stanley into the red in the fourth quarter, but the Wall Street bank still posted better-than-expected results by cutting non- compensation costs, sending its shares higher.

Morgan Stanley (MS.N) lost money in the fourth quarter due to a special charge, but performed better than analysts had expected, sending its shares higher in premarket trading.

Bank of America Corp reported a fourth-quarter profit, reversing a year-earlier loss, boosted by one-time items and lower expenses for bad loans.

In late October, as MF Global Holdings Ltd teetered toward bankruptcy, Jon Corzine phoned his close-knit circle of Wall Street friends for help.

Former football star and actor O.J. Simpson is facing foreclosure.

Stocks jumped to their highest since July on Wednesday as the International Monetary Fund sought to help countries hit by the European debt crisis, while forecast-beating earnings from Goldman Sachs dispelled some worries over bank profits.

Stocks jumped to their highest since July on Wednesday as the International Monetary Fund sought to help countries hit by the European debt crisis, while forecast-beating earnings from Goldman Sachs dispelled some worries over bank profits.

Bank of America (NYSE:BAC), the second-biggest U.S. bank by assets, is expected to post a modest profit gain in the fourth quarter as cost-cutting offsets declining revenue from trading, retail and mortgage divisions.

Stock index futures rose on Wednesday, putting the S&P 500 on track for a second straight advance after sources said the International Monetary Fund wants to boost its lending facility as the Eurozone battles a long-running debt crisis.

When the Bank of New York Mellon (NYSE:BK) reports its quarterly earnings Wednesday morning, the results will be a reflection of an institution at a crossroads. BNY, an industry player widely known for its dominance in the sleepy turf of trust banking, is trying to muscle its way into the more aggressive corners of Wall Street trading. Earnings could show what it's like when a bank occupies the worst of both those worlds of finance.

As Wall Street waits for Goldman Sachs Group (NYSE:GS) -- the fifth-largest U.S. bank by assets and one of the most powerful banking institutions in the world -- to report fourth-quarter earnings Wednesday, the question most analysts seem to have is not whether the earnings release will be underwhelming, but just how bad the hit will be.