Friday, February 10, 2012

Morning roundup: $25 billion settlement is done. What's next?

Here's a look at what's news in banking and finance this morning:

  • The big news yesterday was the long-awaited $25 billion settlement between states and the country's largest mortgage servicers. What's next? Bloomberg says banks like Bank of America still face years of litigation and billions more in costs. Reuters reports the settlement will be "too little, too late" for the hardest hit people. The Wall Street Journal says investors get a little relief.
  • People who use Citi's iPad and other digital apps have inadvertently been charged twice, The New York Times reports.
  • Smaller financial firms are decrying the Federal Reserve's decision to offer taxpayer-acquired AIG assets to a select group of banks, Bloomberg reports.