The Bank of America modified just 4 percent of eligible home loans, says a new government report aimed at prodding banks to do more to prevent defaults.
In earnings reports released this week and last, the four major US banks are showing signs of improvement.
CIT is one of America’s largest lenders to small businesses. It also made many subprime mortgage loans and is now seeking US assistance.
Major banks say they won't honor IOUs that the state has issued. That could increase pressure on lawmakers – but it might not be the decisive factor.
The nonpartisan Congressional Budget Office figures taxpayers will lose about $159 billion from bailouts of the financial and auto industries.
If US president is too supportive of protests, he turns them into a 'Western plot,' say analysts.
The plan seeks to contain the risk of large-firm failure. It would also give regulators alternatives to costly AIG-style bailouts.
Next up for new regulation: The Obama administration plans to reform securities at heart of the economic crisis.