Washington Mutual Inc.

WASHINGTON (AP) _ Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state. The failures of Downey Savings and Loan Association, based in...

NEW YORK (AP) _ Pressure intensified on Citigroup to sell part or all of itself as its stock fell below $4 a share on Friday and fears escalated about future loan losses. CEO Vikram Pandit told managers earlier in the day he opposes breaking up the...

Federal regulators seized Downey Savings & Loan and PFF Bank & Trust late Friday, saying hundreds of millions of dollars in bad loans from the housing bubble had rendered the Southern California banking fixtures unsound. The banks' branches will continue...

WASHINGTON (AP) _ Georgia regulators on Friday shut down The Community Bank, the 20th failure this year of a federally insured institution. The Federal Deposit Insurance Corp. was appointed receiver of the bank, located in Loganville, Ga. It had $681...

Mortgage finance companies Fannie Mae and Freddie Mac said yesterday they are suspending foreclosures during the holiday season, halting such sales and evictions between next Wednesday and Jan. 9 while they evaluate whether borrowers qualify for a new...

NEW YORK (AP) _ JPMorgan Chase & Co. is shedding about 10 percent of its investment bank staff in an effort to better weather the global economic slowdown. The New York-based banking giant is making cuts that are likely to be in line with its competitors...

WASHINGTON (AP) _ U.S. thrifts lost $4 billion in the third quarter as they set aside $7.9 billion to cover losses from bad mortgages and other loans amid worsening conditions in the U.S housing market, their government regulator said Thursday. Thrift...

JPMorgan Chase & Co., the largest U.S. bank by market value, said Friday none of its customers will face foreclosure in the next 90 days while it finds ways to make payments easier on $110 billion of problem mortgages. The program will include the...

JPMorgan Chase & Co. on Friday became the latest major bank to beef up its mortgage modification efforts as the government also considers a plan to help homeowners avoid foreclosure. JPMorgan's expanded program aims to help avoid foreclosures on an...

Morgan Stanley averted disaster with a $9 billion lifeline from a major Japanese bank, and yesterday it declared it will use that money to pick off smaller rivals. Just a few days ago, some on Wall Street openly questioned whether the embattled...

JPMorgan Chase & Co. said Friday it is expanding its program to modify mortgages in an effort to avoid foreclosures on up to $70 billion in loans. The enhanced program will include the opening of 24 regional counseling centers, the hiring of 300...

Wall Street fluctuated Tuesday as investors reacted enthusiastically to the U.S. government's plans to spend $250 billion to buy stock in private banks but also collected profits from the previous day's massive advance. The Dow Jones industrial average...