Insurance

Bank of America Corp., the largest U.S. lender, said Warren Buffett’s Berkshire Hathaway Inc. will invest $5 billion to bolster the company after losses tied to subprime mortgages drained capital, Bloomberg reported.

Bank of America …

Minnesota-based PSM Holdings Inc. has entered into a letter of intent to purchase Des Moines-based Iowa Mortgage Professionals Inc. Iowa Mortgage will be acquired by UCMC, a subsidiary of Prime Source Mortgage Inc., whose parent …

If the stock market has been a roller coaster ride, 401(k) plan participants are keeping their hands and feet in the cars, say major plan administrators and record keepers. Principal Financial Group Inc. said that …

A federal judge ruled that the Federal Deposit Insurance Corp. (FDIC) has to face a $10 billion lawsuit tied to the failure of Washington Mutual Bank, Reuters reported. The judge refused the FDIC’s request to …

The Federal Deposit Insurance Corp.’s deposit insurance fund, which protects customer holdings up to $250,000 per account in the event of a failure, was positive for the first time in two years, the agency said. …

Veridian Credit Union was named to The Principal 10 Best Companies for Employee Financial Security. The Waterloo-based credit union was recognized for the richness of its medical insurance, wellness and retirement plans. Principal Financial Group …

The number of problems banks fell last quarter for the first time since 2006, the Federal Deposit Insurance Corp. (FDIC) said today in its overall assessment of the health of the industry.

FDIC-insured banks and …

The nation’s 10 largest banks received $669 billion in emergency loans from the Federal Reserve in 2008, dwarfing the $160 billion in public bailout money the U.S. Treasury Department provided them as part of the …

The Mortgage Bankers Association (MBA) said today that the number of delinquent mortgage borrowers – those who have missed at least one payment – rose during the second quarter, CNNMoney reported.

The MBA breaks down …

Bank of America Corp. said it is cutting 3,500 jobs, on top of thousands of job cuts it has already made this year, CNNMoney reported today.
 

Bank of America spokesman Scott Silvestri said the …