Financial shares are higher in mid-day trading while three of the sector's largest names find themselves the target of criticism over compliance with a homeowner relief program. In sector news, Citigroup Inc. (NYSE:C) is showing little downside from a report this morning that hackers were able to phish credit card information on North American customers. The major online security breach affects about 200,000 accounts. Meanwhile, Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM) and Wells Fargo (NYSE:WFC) shares are trending higher even as the U.S. Department of Housing and Urban Development criticized the banks, saying four mortgage servicing providers, including the three banks, need to substantially improve their compliance with a government-run program to help struggling homeowners.
From FNNO.com, this is the Financial News Network. I’m Cleo
Stiller-Farrell and this is your Midweek Market Wrap Up. The British
Bankers’ Association, which has the supervisory role of setting the
influential Libor rates, announced that it would be willing to give up
its...