6 Stories

After 31 Years, MetLife Is Dumping Snoopy

MetLife spinning off much of its individual life insurance business in the US

(Newser) - You've probably gotten pretty used to seeing the Peanuts characters on MetLife sales and marketing materials, in its commercials and other ads, and prominently displayed on its blimp. But after 31 years of using Snoopy & Co. in its advertising, the life insurance business is parting ways with the... More »

Most Big Banks Pass Stress Test; 4 Fail

Citigroup, SunTrust among those that failed

(Newser) - The Federal Reserve released the results of its latest round of stress tests at the nation's biggest banks, and they're generally being received as good news. Fifteen of the 19 banks passed, which is what outlets such as the Wall Street Journal and Washington Post are highlighting in... More »

BofA Near $8.5B Deal to Settle Big Investors' Claims

BlackRock, New York Fed lost money on mortgage-backed securities

(Newser) - Bank of America is close to a deal that calls for the lender to pay $8.5 billion to settle claims from a group of heavyweight investors who bought mortgage-backed securities before the housing collapse and lost a ton of money in the process. A person familiar with the discussions... More »

Insurers Rip Off Families of Fallen US Soldiers

Keep payouts in interest-bearing accounts and skim off profits

(Newser) - It turns out that insurers handling death benefits for American soldiers have got a sweet scam going that enables them to keep profiting from the money even after it is supposedly paid out to families. They tell bereaved relatives that they've opened a convenient, interest-bearing account for their money that's... More »

Stress-Tested Banks Need Just $100B

Investors find causes for optimism in capitalization news

(Newser) - Leaked results of the stress tests on America's biggest banks separate sufficiently capitalized banks—including JPMorgan Chase, MetLife, AmEx, and Goldman Sachs—from underfunded ones such as BofA, Wells Fargo, and Citi. Bank shares rose sharply yesterday and today, and some investors said the results were better than they feared.... More »

As Life Insurers Face Losses, Next Bailout Decision Looms

Life insurers, a key cog in capital markets, seek TARP funds

(Newser) - Life insurance companies, an oft-overlooked yet important cog in the financial infrastructure, haven’t been immune to tumbling markets, the Wall Street Journal reports, which are eroding both their portfolios and consumer confidence. A Dow Jones life insurance index is off 59% this year and 82% from its 2007 high,... More »

6 Stories