News Stories

The Federal Trade Commission Thursday outlined strict new regulations on debt-relief companies that promise to slash the amount of money consumers owe on their credit cards.

Citigroup agreed on Thursday to pay $75 million to settle federal claims that it failed to disclose vast holdings of subprime mortgage investments that were deteriorating during the financial crisis and ultimately crippled the bank.

Americans might be counting on the day when home and retirement-fund values start to rise again, but anyone expecting to benefit from a future boom in prices should take note: Economic policymakers around the world are looking for ways to make sure that doesn't happen, or at least not with such intensity that it risks the kind of bust that usually follows.

For almost two years, Goldman Sachs has been spinning what many believed was a far-fetched tale.

Goldman has maintained that it had entirely hedged its exposure to the American International Group before A.I.G. collapsed in September 2008. Goldman’s chief financial officer, David Viniar, has repeated over and over again: “We had no direct exposure.”

Dell, several former executives, and its founder, Michael S. Dell, agreed Thursday to pay more than $100 million in penalties to settle charges of disclosure accounting fraud filed by the Securities and Exchange Commission.

With the financial system on the verge of collapse in late 2008, a group of troubled banks doled out more than $2 billion in bonuses and other payments to their highest earners. Now, the federal authority on banker pay says that nearly 80 percent of that sum was unmerited.

Mine safety officials are painting a portrait of ineptitude and confusion by officials at Massey Energy Co. in the months before an explosion at the company's West Virginia mine killed 29 men.

Bob Dudley, BP PLC's lead executive in the Gulf of Mexico, spotted his U.S. government counterpart, retired Adm. Thad Allen, at the New Orleans hotel where both were staying earlier this month. Wanting to say good night after a long day, Mr. Dudley instead got fresh orders.

The head of the Securities and Exchange Commission is appearing before Congress days after the passage of sweeping financial regulation that gives the agency new powers and a landmark settlement of civil fraud charges with Goldman Sachs & Co.

Days after the Securities and Exchange Commission secured a $550 million settlement from Goldman Sachs, the agency’s chairwoman said on Tuesday that the commission was pursuing several other investigations related to the 2008 financial crisis.