Story Stocks: Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C), Google (NASDAQ:GOOG)
July 08, 2011 at 11:42 AM EDT
Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C) and five other mortgage servicers will have to meet a July 13 deadline to submit remedial plans for their foreclosure practices while federal and state officials continue working on broader settlement terms. The Office of the Comptroller of the Currency accused eight banks and two service providers of “unsafe and unsound” practices in their mortgage servicing and foreclosure practices. Remediation plans are due to the OCC next week. -Bloomberg Google (NASDAQ:GOOG) shares were cut to equal weight from overweight at Morgan Stanley, with analyst Scott Devitt also lowering his price target to $600 from $645. -MarketWatch Oil futures tumbled after the government said the U.S. economy barely added jobs . . . → Read More: Story Stocks: Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C), Google (NASDAQ:GOOG)