The Miami Herald's investigative team reported on Sunday that the state has approved over 10,000 mortgage broker licenses for convicted felons since 2000; over 4,000 were issued to individuals who had been convicted of crimes such as fraud, extortion, racketeering, and bank robbery – crimes that are sp......

New York Attorney General Andrew Cuomo said he is suing UBS AG for misleading investors into buying auction-rate securities just five months before the market collapsed.

"Not only is UBS guilty of committing a flagrant breach of trust between the bank and its customers, its top executives jumped ship as soon as......

"The U.S. and global financial systems are going through a very challenging period of adjustment. The critical imperative today is to help facilitate that adjustment and to cushion its impact on the broader economy. The forces that made the system vulnerable to this crisis took a long time to build up, and the system will need so......

"The U.S. housing market continues to be very weak, and with the inventory of unsold homes continuing to rise we are unlikely to see any meaningful turnaround in the sector in the near term," said Millan Mulraine, economics strategist at TD Securities.

The NAR said foreclosures represent one-third to 40%<......

The U.S National homeowner housing vacancy rate slipped to 2.8% in the second quarter, a 0.1% decline from the previous quarter's 2.9% rate, according to the U.S. Census Bureau report released on Thursday.

Testifying before the House Financial Services Committee, SEC Chairman Christopher Cox said he needs more authority to have mandatory supervision of investment banks.

"Legislative improvements are necessary," said Cox in his opening remarks. "The Commission should be given a statutory mandate to ......

After the U.S. House of Representatives passed a housing bill including provisions for the creation of a new GSE regulator and a liquidity backstop to help the beleaguered Fannie Mae and Freddie Mac, U.S. Treasury Secretary Paulson expressed his gratitude for the bill having passed quickly.

"As I have said befo......

U.S. existing home sales fell 2.6% to 4.86 million units in June following May's unrevised sales figure of 4.99 million. This is the fourth month home sales have remained under the five million mark, according to the National Association of Realtors (NAR).

U.S. jobless claims and existing home sales will dominate the scheduled events of the day, along with testimony from New York Fed President Timothy Geithner (voter) and SEC Chairman Chris Cox. Meanwhile, European markets will be paying attention to the release of the Belgian business confidence index and......

Initial claims for unemployment benefits in the United States soared to 406k in the week ending July 19, the highest level since March, according to the Department of Labor on Thursday. Economists said July data has been volatile, but the latest data is a reliable indicator of weakness in the jobs market.