Wednesday Evening / Thursday News - More lawsuits, TCF, Toxic Assets

General Banking News

Fed May Step Up on Mortgages, Bank of America Says
http://www.bloomberg.com/apps/news?pid=20601087&sid=aRcSqY5zv7F4

U.S. FDIC delays pilot sale of toxic bank loans
http://www.reuters.com/article/governmentFilingsNews/idUSN0311295120090603

And the best banks are...
http://www.fiercefinance.com/story/and-best-banks-are/2009-06-03

Lloyds Bank to axe 30 jobs in Birmingham (thur)
http://www.birminghampost.net/birmingham-business/birmingham-business-news/financial-business-news/2009/06/04/lloyds-bank-to-axe-30-jobs-in-birmingham-65233-23788545/

Six banks to buy back sour auction bonds (thur)
http://www.boston.com/business/articles/2009/06/04/six_banks_to_buy_back_sour_auction_bonds/

JP Morgan

STOCKS NEWS US-JPMorgan to disband Principal Investment units
http://www.forbes.com/feeds/afx/2009/06/03/afx6498467.html

Bank of America

BofA board may meet activist investor Finger -NY Post (thur)
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBNG48085520090604

Exclusive: Merrill Brokers Pissed At Secret Bank Of America Coup
http://www.businessinsider.com/bank-of-america-coup-at-merrill-lynch-roils-financial-advisers-may-cut-their-pay-2009-6

Extended Stay investors sue BofA, Wells Fargo
http://in.reuters.com/article/innovationNews/idINTRE5527FA20090603

BofA Denies Brokerage Shakeup Report
http://www.thestreet.com/story/10509093/1/bofa-denies-brokerage-shakeup-report.html?cm_ven=GOOGLEN

Bank Of America Denies Our Merrill Shakeup Story
http://www.businessinsider.com/bank-of-america-denies-our-merrill-shakeup-story-2009-6

Banks, SEC Settle Claims of Investor Fraud in Sale of Auction Rate Securities
http://www.attorneyatlaw.com/2009/06/banks-sec-settle-claims-of-investor-fraud-in-sale-of-auction-rate-securities/

Morgan Stanley

Morgan Stanley seen among first to exit TARP
http://www.reuters.com/article/ousiv/idUSTRE5526T720090603

SunTrust

Regions nabs Barton from SunTrust
http://www.tennessean.com/article/20090603/BUSINESS01/90603050/Regions+nabs+Barton+from+SunTrust


KeyCorp

KeyCorp Commences Two Exchanges Offers For Preferred Securities
http://www.rttnews.com/ArticleView.aspx?Id=968802&SMap=1

KeyCorp says has generated about 70% of government's requirement - Quick Facts http://www.rttnews.com/ArticleView.aspx?Id=968540&SMap=1

Wells Fargo

Ex-employees claim racism in Wells Fargo subprime loan push (thur)
http://www.baltimoresun.com/news/local/bal-md.wellsfargo04jun04,0,2820547.story

Extended Stay investors sue BofA, Wells Fargo
http://in.reuters.com/article/innovationNews/idINTRE5527FA20090603

Wells Fargo breaks ground on new downtown Waco bank location (thur)
http://www.wacotrib.com/news/content/news/stories/2009/06/03/06032009wacWellsFargo.html

TCF Financial

It's tough to say no to an overbearing uncle who prints money.
http://www.forbes.com/forbes/2009/0622/tarp-stimulus-states-saying-no-to-government.html

Colonial

Colonial BancGroup names new execs to replace Lowder (thur)
http://www.bizjournals.com/birmingham/stories/2009/06/01/daily28.html