Editorial Results (free)
1. Wells Fargo Fined $1B for Mortgage, Auto Lending Abuses
- Monday, April 23, 2018
NEW YORK (AP) — Wells Fargo will pay $1 billion to federal regulators to settle charges tied to misconduct at its mortgage and auto lending business, the latest punishment levied against the banking giant for widespread customer abuses.
2. Strong US Job Growth in February Helps Dispel Recession Fears
- Monday, March 7, 2016
WASHINGTON (AP) – A robust February jobs report showcased a resilient U.S. economy just as fears of a new recession had begun to surface.
Economic reports in recent weeks had fueled anxieties about a looming downturn: Manufacturers were slumping. Stocks had plummeted. China was slowing sharply along with other emerging markets. The rising dollar had crushed exports.
3. State Announces HSBC Mortgage Settlement
- Saturday, February 13, 2016
The state of Tennessee is part of a $470 million settlement announced Friday, Feb. 5, with HSBC, a mortgage lender and servicer. Tennessee is one of 49 states as well as the District of Columbia that sued HSBC over alleged mortgage and foreclosure abuses. The Tennessee part of the settlement affects 2,600 borrowers who are eligible for payments through a national fund of $59.3 million.
4. State Announces HSBC Mortgage Settlement
- Monday, February 8, 2016
The state of Tennessee is part of a $470 million settlement announced Friday, Feb. 5, with HSBC, a mortgage lender and servicer.
Tennessee is one of 49 states as well as the District of Columbia that sued HSBC over alleged mortgage and foreclosure abuses.
5. US Employers Hire at Robust Pace, Defying Global Trends
- Monday, January 11, 2016
WASHINGTON (AP) — The U.S. economy is motoring ahead despite slowing global growth that caused upheavals in financial markets around the world this week.
Employers added a robust 292,000 jobs last month, and the unemployment rate stayed low at 5 percent, the Labor Department said Friday. Job gains in the October-December quarter averaged 284,000, the best three-month increase since last January.
6. US Factory Growth Slips in November But Still Healthy
- Tuesday, December 2, 2014
WASHINGTON (AP) – U.S. factories were slightly less busy in November, as production and hiring slowed, though the level of activity remained strong.
The Institute for Supply Management, a trade group of purchasing managers, said Monday that its manufacturing index slipped to 58.7 last month from 59 in October. Any reading above 50 signals expansion. October's figure matched a three-year high reached in August.
7. Global Banks Fined Billions for Rigging Market
- Thursday, November 13, 2014
LONDON (AP) – Traders with nicknames like the "Three Musketeers" and the "A-Team" plotted over Internet chat rooms to manipulate currency markets for years, profiting at the expense of clients – and then congratulating themselves for their brilliance – regulators said Wednesday, as they fined five banks $3.4 billion.
8. Midterm Elections Carry High Stakes for US Economy
- Tuesday, November 4, 2014
WASHINGTON (AP) – The midterm slugfest for control of the U.S. Senate could have far-reaching effects on the economy.
Tuesday's elections come just as U.S. growth has been showing consistent improvement, thanks in part to a congressional truce on budget fights. Previous such fights shut down the government and raised the specter of a default on the federal debt. A repeat of either could damage the economic recovery.
9. IMF Lowers Estimate of US Economic Growth in 2014
- Tuesday, June 17, 2014
WASHINGTON (AP) – The U.S. economy is poised to accelerate after a dismal start to the year even though the job market won't return to full employment until 2017.
That was the forecast offered Monday in a report by the International Monetary Fund.
10. FDIC Sues 16 Big Banks That Set Key Rate
- Monday, March 17, 2014
WASHINGTON (AP) – The Federal Deposit Insurance Corp. has sued 16 big banks that set a key global interest rate, accusing them of fraud and conspiring to keep the rate low to enrich themselves.
11. Justice Department Official Admonishes Nation's Bankers
- Tuesday, November 19, 2013
WASHINGTON (AP) – Admonishing the nation's bankers, the Justice Department's No. 2 official says too many financial institutions have failed in their duty to ensure that their businesses are run cleanly.
12. Lender Processing Paying $121 Million to Resolve Claims
- Friday, February 1, 2013
One of the biggest U.S. mortgage processing companies has agreed to pay $121 million to resolve states' claims that it wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.
13. HSBC to Pay $249 Million to Settle Foreclosure-Abuse Case
- Monday, January 21, 2013
WASHINGTON (AP) – British bank HSBC will pay $249 million to settle federal complaints that its U.S. division wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.
14. Survey Shows China's Manufacturing Improving
- Monday, December 17, 2012
BEIJING (AP) – China's manufacturing activity rose to a 14-month high in December, adding to signs the world's second-largest economy is recovering, but export orders weakened, a survey showed Friday.
15. Dollar General to Sell $450 Million in Senior Debt
- Thursday, June 28, 2012
GOODLETTSVILLE, Tenn. (AP) – Dollar General Corp. announced Wednesday that it is offering $450 million in senior notes due in 2017.
The discount retailer said it plans to use the proceeds, along with cash on hand and possible other borrowings, to redeem its outstanding senior unsubordinated notes.
16. Closing Bank Account Will Cost You, Group Finds
- Thursday, May 31, 2012
It could cost as much as $55 to close your bank account.
That's the finding of the advocacy group Consumers Union. The group surveyed the 10 largest banks in the country, including JPMorgan Chase, Bank of America, Citibank and Wells Fargo.
17. Morgan Stanley Settles With MBIA Over Mortgages
- Wednesday, December 14, 2011
NEW YORK (AP) – Morgan Stanley said Tuesday it has reached a settlement with insurance company MBIA Inc. over disputes involving mortgage-backed investments.
18. Economy Improving But Job Growth Still Weak
- Friday, December 2, 2011
WASHINGTON (AP) – The U.S. economy is picking up. If only job growth would follow.
A spate of data Thursday showed U.S. factories grew last month at the fastest pace since June, construction spending increased for a third straight month, and both retail sales and auto sales rose in November.
19. Slightly More People Seek Unemployment Benefits
- Thursday, November 24, 2011
WASHINGTON (AP) – The number of people seeking unemployment benefits ticked up slightly last week after two months of steady declines.
But the increase isn't enough to reverse the downward trend. The four-week average of applications, a less volatile measure, fell to its lowest level since April. The decline in the average signals that companies are laying off fewer workers.
20. Mortgage Fraud Reports Spike as Lawsuits Pile Up
- Thursday, September 29, 2011
VIENNA, Va. (AP) – The wave of lawsuits and other demands from investors in mortgage-backed securities contributed to a big spike in reports of likely mortgage fraud during the second quarter, according to a Treasury Department report.
21. First Horizon, Fitch Say Risk Manageable
- Monday, September 19, 2011
Bryan Jordan, the president and CEO of First Tennessee Bank’s parent company, told his audience at an industry conference a few days ago in New York City that his company has been out of the mortgage business for three years now.
22. H&R Block Won't Offer Refund-Backed Loans in 2012
- Wednesday, September 14, 2011
NEW YORK (AP) – H&R Block Inc. said Tuesday that it won't offer refund anticipation loans next tax season because it's getting more new clients and the appeal of the high-cost loans is shrinking.
23. Feds Sue 17 Major U.S. Banks, Including First Tenn. Parent
- Wednesday, September 7, 2011
The federal agency that oversees the government-sponsored mortgage entities Fannie Mae and Freddie Mac has filed lawsuits seeking billions of dollars in compensation from several major U.S. banks, including the parent company of First Tennessee Bank.
24. Feds Sue 17 Major U.S. Banks, including First Tenn. Parent
- Tuesday, September 6, 2011
The federal agency that oversees the government-sponsored mortgage entities Fannie Mae and Freddie Mac has filed suit seeking billions of dollars in compensation from several major U.S. banks, including the parent company of First Tennessee Bank.
25. Employers Add No Net Jobs in Aug.; Rate Unchanged
- Tuesday, September 6, 2011
WASHINGTON (AP) – Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.
The government also reported that the unemployment rate remained at 9.1 percent. It was the weakest jobs report since September 2010.
26. 4-Month Low in Unemployment Claims Eases Fears
- Friday, August 12, 2011
WASHINGTON (AP) – After calamitous losses on Wall Street and fears of another recession, the economy got a dose of good news Thursday: The number of people applying for unemployment benefits fell below 400,000 for the first time since April.
27. Capital One to Buy HSBC US Credit Card Arm
- Thursday, August 11, 2011
McLEAN, Va. (AP) – Capital One Financial Corp. said Wednesday that it will buy the U.S. credit card arm of Britain's HSBC for a premium of about $2.6 billion as a way to expand its domestic credit card business.
28. May Manufacturing Activity Cooled to 20-Month Low
- Thursday, June 2, 2011
WASHINGTON (AP) – U.S. manufacturing activity expanded in May at the slowest pace in 20 months, the latest sign that a sharp rise in energy prices is hampering economic growth.
The Institute for Supply Management, a trade group of purchasing executives, said Wednesday that its index of manufacturing activity fell to 53.5 percent in May from 60.4 in April.
29. More People Applied for Unemployment Benefits
- Friday, April 29, 2011
WASHINGTON (AP) – More people sought unemployment benefits last week, the second rise in three weeks, a sign of the slow and uneven jobs recovery.
Applications for unemployment benefits jumped 25,000 to a seasonally adjusted 429,000 for the week ending April 23, the Labor Department said Thursday. That's the highest total since late January.
30. Gov't Orders Lenders to Reimburse Homeowners
- Thursday, April 14, 2011
WASHINGTON (AP) — The U.S. government on Wednesday ordered 16 of America's largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon.
Government regulators also directed the financial firms to hire auditors to determine how many homeowners could have avoided foreclosure in 2009 and 2010.
31. Service Sector Expanded in March at Slower Pace
- Wednesday, April 6, 2011
WASHINGTON (AP) – The U.S. service sector expanded in March for the 16th straight month, although growth slowed from the previous month's pace, which was the fastest in more than five years.
32. Coca-Cola Will Buy Back $1.05B of its Own Debt
- Thursday, December 16, 2010
ATLANTA (AP) – The Coca-Cola Co. said on Wednesday that its offer to buy back up to $1.6 billion in debt expired on Tuesday after investors offered to sell back $1.05 billion in notes.
33. Unemployment Claims Drop Sharply to 407K
- Friday, November 26, 2010
WASHINGTON (AP) – The number of people applying for unemployment benefits fell sharply last week to the lowest level since July 2008, a hopeful sign that improvement in the job market is accelerating.
34. Foreclosure Class Actions Pile Up Against Banks
- Thursday, November 18, 2010
NEW YORK (AP) – Foreclosure-fraud class action lawsuits are starting to pile up against major banks across the country, threatening a besieged industry with billions more in potential losses.
35. CB Richard Ellis Refinances $650M in Debt
- Friday, November 12, 2010
LOS ANGELES (AP) – CB Richard Ellis Group Inc. said Thursday it has lined up $1.5 billion in new credit and refinanced $650 million in debt under its credit agreement.
36. Feds Order HSBC to Boost Money-Laundering Controls
- Friday, October 8, 2010
NEW YORK (AP) – Federal regulators are ordering HSBC North America Holdings to improve its compliance with money laundering laws.
A federal investigation found the U.S. subsidiary of the London bank does not have tight enough controls over monitoring wire transfers from certain countries, does not report suspicious activity on time and is not appropriately identifying "high-risk" customers, among other issues.
37. Wholesale Prices Rise on Higher Food Costs
- Wednesday, August 18, 2010
WASHINGTON (AP) – Wholesale prices rose last month for the first time since March on higher costs for food, autos, pickup trucks and pharmaceuticals.
Still, the increases were modest and show that the weak economy isn't spurring significant price rises.
38. New Claims for Jobless Benefits Rise to 479K
- Friday, August 6, 2010
WASHINGTON (AP) – Initial requests for jobless benefits rose last week to their highest level since April, a sign that hiring in the U.S. remains weak and some companies are still cutting workers.
39. Service Sector Grows More Quickly in July
- Thursday, August 5, 2010
NEW YORK (AP) – Growth in the U.S. service sector picked up in July, according to a trade group's survey, in a good sign for the overall economy and the job market.
The Institute for Supply Management said Wednesday its service-sector index rose to 54.3 last month, up from 53.8 in June. Economists had expected a pullback to 53 for July.
40. New Jobless Claims Up Sharply as Layoffs Persist
- Friday, June 18, 2010
WASHINGTON (AP) - The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.
Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000, the U.S. Labor Department reported Thursday. It was the highest level in a month and overshadowed a report that showed consumer prices remain essentially flat.
41. Service Sector Grows in April, Trade Group Says
- Thursday, May 6, 2010
NEW YORK (AP) – The service sector expanded in April, with business activity accelerating at the strongest pace in four years.
The Institute for Supply Management, a trade group of purchasing executives, said its service sector index read 55.4 in April, the same level as in March. It’s the fourth straight month of growth.
42. NAACP Drops Mortgage Lawsuit Against Wells Fargo
- Monday, April 12, 2010
CHARLOTTE, N.C. (AP) - The NAACP is ending its lawsuit against Wells Fargo that alleged the bank was forcing blacks into subprime mortgages while whites with identical qualifications got lower rates.
43. Economy 101: Hiring Index Nears Turning Point
- Tuesday, March 9, 2010
WASHINGTON (AP) - An index that measures the breadth of hiring among private industries is nearing a turning point that could signal consistent job gains.
The index is part of the government's monthly employment report. Its rise is evidence that the job market is headed in the right direction – though at a painfully slow pace.
44. Modest but Steady Growth Seen In Economic Reports
- Wednesday, December 2, 2009
NEW YORK (AP) – The economic recovery seems on track for slow but steady gains, after reports Tuesday showed growth in manufacturing activity, construction spending and contracts to buy homes.
45. CEOs See More Layoffs; Decline in Spending, Sales
- Wednesday, April 8, 2009
NEW YORK (AP) – In a sign of the deep pessimism gripping corporate America, an index tracking the outlook of chief executives of some of the country's biggest companies dropped to its lowest level since the survey began in 2002.
46. Bank Giants Steered Blacks to Bad Loans, NAACP Says
- Monday, March 16, 2009
The NAACP is accusing Wells Fargo and HSBC of forcing blacks into subprime mortgages while whites with identical qualifications got lower rates.
Class-action lawsuits were to be filed against the banks Friday in federal court in Los Angeles, Austin Tighe, co-lead counsel for the National Association for the Advancement of Colored People, told The Associated Press.
47. Regulators Adopt New Credit Card Rules
- Friday, December 19, 2008
WASHINGTON (AP) - Federal regulators on Thursday adopted sweeping new rules for the credit card industry that will shield consumers from increases in interest rates on existing account balances among other changes.
48. WaMu Biggest Bank to Fail In Nation’s History
- Monday, September 29, 2008
NEW YORK (AP) – Washington Mutual Inc., one of the nation’s largest banks, has collapsed under the weight of its enormous bad bets on the mortgage market.
The Federal Deposit Insurance Corp. seized WaMu on Thursday, and then sold the thrift’s banking assets to JPMorgan Chase & Co. for $1.9 billion.
49. Source: Regulators Gauge Banks' Interest in WaMu
- Thursday, September 18, 2008
NEW YORK (AP) - The U.S. government has been reaching out to large banks in an effort to organize a buyout of the beleaguered Washington Mutual Inc., according to a person briefed on the talks between regulators and banks.
50. With Lower Prime Rate, Credit Card Rates Could Drop
- Friday, September 21, 2007
Credit card debt will soon get a bit easier to handle now that the Federal Reserve has lowered the benchmark interest rate by a half percentage point.
51. Reynolds Named Head Baseball Coach at STCC
- Wednesday, September 20, 2006
Alan "Bo" Reynolds has been named the new head baseball coach at Southwest Tennessee Community College. He previously worked at Olive Branch High School, where he was head baseball coach in 2005-2006 after serving as assistant coach from 2003 to 2005. He also coached at Rhodes College from 1990 to 2003, where he was both an assistant coach and head coach and the University of Memphis from 1987 to 1990. There, he was an assistant under head coach Bobby Kilpatrick.