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Freddie Mac, the No. 2 U.S. home funding company, on Wednesday sold a record $10 billion three-year reference notes, the largest single new issue since the government-sponsored enterprises started global note programs over a decade ago.

The lawmakers of House Financial Service Committee on Wednesday are holding a hearing with chief executive officers of eight banks that received injections of capital from the government's Troubled Asset Relief Program.

JP Morgan Chase chief Executive Jamie Dimon will call for regulatory modernization as a necessary component of long-term recovery for the economy. He notes there is an immediate need for a systemic risk regulator which will be able to track financial businesses across the banking, securities and insurance businesses instead of the current fragmented system.

Shares of major banks in the U.S. rose early Wednesday pulling up the financial sector on optimism that President Barack Obama's administration may go ahead with a plan to buy bad assets in the financial system creating the so-called bad bank.

Quietly and with little fanfare, the ownership of hundreds of public companies in the United States has moved from being dispersed among many players to being concentrated in the hands of a just a few. But it's not big banks that are dominating corporate ownership, as in the past. Instead it's mutual funds that hold almost 30 percent of U.S. corporate ownership today, compared with 8 percent in ...

JP Morgan Chase which was expected to break even or report a small loss in the fourth quarter said Thursday its profit plunged 76 percent.

In the eyes of Jamie Dimon, JP Morgan Chase Chief Executive Officer, the worst of the economic crisis has not come yet, predicting the financial sector will see more problems with consumer loans and credit cards, he said in an interview with the Financial Times.

U.S. stocks rose on Tuesday on speculation that weaker consumer confidence and a record plunge in home prices will ensure the Federal Reserve to maintain interest rates at current levels, while United Parcel Service set new multiyear low.

U.S. stocks fell on Monday for the first time in three days, giving back some of Friday's gains, after a bigger-than-expected drop in New York state manufacturing and a decline in the dollar cast doubts about the state of the U.S. economy, while oil jumped $4 a barrel.

Morgan Stanley, Merrill Lynch & Co. and Lehman Brothers Holdings Inc. had their credit ratings cut on Monday by Standard & Poor's on concerns that continued weakness in the sector could lead to more write-offs.

Wall Street began June in the red, falling for the first time in five days, as the Dow quickly lost more than 100 points Monday morning on more worries about the financial sector after Wachovia Corp. ousted its chief executive.

Bear Stearn's Cos. shareholders on Thursday gave their approval to sell the investment bank to rival JPMorgan Chase & Co. for about $2.2 billion.

Financial shares fell on Tuesday, triggered by renewed concerns about the economy.

JPMorgan Chase & Co will keep about 45 percent of Bear Stearns Cos. employees after the two banks complete their merger, JPMorgan's chief executive said.

An Openheimer & Co group of analysts led by Meredith Whitney cut their earnings outlook for major U.S. banks, saying the current credit crisis is not close to ending.

U.S. stocks plunged on Tuesday after oil soared to nearly $130 a barrel fueling concerns that commodity prices will further dampen U.S. consumption levels, while analysts forecast more credit losses and faster inflation.

Citigroup chief executive Vikram Pandit is set to present his plans and outlook for the largest U.S. bank, when it holds its annual Investor Day meeting on Friday.

Target Corp., the second-largest discount store in the U.S, has agreed to sell a 47 percent stake in its credit-car loans to J.P. Morgan Chase & Co. for $3.6 billion to raise cash for stock buybacks in a deal that was urged by activist shareholder William Ackman.

UAL's United Airlines is contemplating asking its banks to revise the terms of its credit facility in a bid to gain crucial financial flexibility to withstand the airline industry's sharp slump, according to media reports released Monday.

JPMorgan Chase & Co. executives anticipate the real estate market to keep falling, with prices dropping as much as 9 percent in 2008.The New York-based bank's chief executive Jamie Dimon t...

A pair of the largest U.S. banks reported that profits in the first quarter fell due to the housing downturn but they still managed to beat Wall Street analysts' expectations sending shares higher.

JPMorgan Chase & Co., the third largest U.S. bank beat expectations on Wednesday, despite reporting a 50 percent drop in first quarter profit as it wrote down $5.1 billion in assets linked to mortgages and other loans.

A Washington Mutual Inc director resigned on Tuesday under pressure from shareholders who have faulted the company for its declining market value amid a sharp housing downturn.

Washington Mutual Inc. reported a first-quarter loss of $1.14 billion late Tuesday, as the lender continues to suffer from the mortgage meltdown and credit crisis.

Bear Stearns, the fifth-largest U.S. investment bank, reported late Monday that its first quarter profit plunged 79 percent just ahead of the confidence crisis which forced a sale of the bank to rival JPMorgan Chase & Co.

J.P. Morgan Chase & Co. is expected to report that its first quarter profit fell by more than 50 percent on Wednesday due to potential additional write-downs, and other expenses related to the tough mortgage market.

Investment Bank Bear Stearns Cos. released some details of the heavy losses it suffered in the months before it nearly went bankrupt and agreed to sell itself to rival JPMorgan Chase & Co.

Battered by subprime mortgage losses, savings and loan bank Washington Mutual, Inc sold $7 billion in shares to a group of investors led by TPG Capital and will stop providing home loans through brokers while closing all its free standing home loan offices.

U.S. stocks on Tuesday fell the most in seven days after Alcoa Inc.'s earnings fell short of forecasts and Washington Mutual Inc. was forced to slash its dividend in a $7 billion bailout. Washington Mutual led financial shares lower after the largest savings and loan cut its payout by 93 percent and projected a first-quarter loss of $1.1 billion.