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Big U.S. Banks to Submit “Living Wills” to Regulators

Nine of the largest U.S. banks have submitted plans to the federal regulators that show how they would break up and sell off their assets if they are in danger of failing.

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foreclosure
Flickr User BasicGov
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Residential Capital Mortgage Seeks Chapter 11 Protection

Ally Financial Inc.'s mortgage division known as ResCap is seeking Chapter 11 bankruptcy protection.

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Bank of America will reduce mortgages for underwater borrowers
(Flickr: lewisha1990)
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Bank of America Will Reduce Loans for Underwater Borrowers

Bank of America is providing mortgage relief to about 200,000 homeowners.

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BankVault
Jose Luis Stephens, Getty Images
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Fed-Up Consumers Planning For “Bank Transfer Day”

A grassroots movement is urging bank customers to close their accounts in favor of credit unions by Saturday.

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