Tuesday, June 14, 2011

Investigations launched into Regions Bank


Birmingham-based Regions Bank is under investigation after two pension firms filed suit against the bank for the way it classified bad loans.
Regions is the 12th largest bank in the U.S. when it comes to assets, however it has not posted an annual profit since 2007, according to an article in Monday's Wall Street Journal which outlined the lawsuit.
In addition to the two pensions suing Regions, the bank has launched its own investigation regarding executives who may have falsified loans. On top of that, the Securities and Exchange Commission launched its investigation to see how Regions categorized sour loans.

No comments:

Post a Comment