UPDATE 3-Top Fannie Mae execs quit after accounting probe
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The chief executive and chief financial officer of US mortgage finance giant Fannie Mae (FNM.N: Quote, Profile, Research) stepped down late on Tuesday after
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The top managers of WellCare Health Plans, an insurer being investigated by the F.B.I. for possible fraud, resigned Friday.
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WASHINGTON, Aug 20  - Regulators investigating Fannie Mae&#39;s accounting practices have sent subpoenas to the No. 1 US mortgage finance company in connection with the probe, a source familiar with the matter said on Friday.
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Three of Citigroup&#39;s most senior executives are to leave the Wall Street heavyweight following the closure of its Japanese operations, reports say.
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Fannie Mae, the federally chartered housing finance company, violated accounting requirements that are "clear" and "not overly complex," the chief accountant of the Securities and Exchange Commission told a House subcommittee yesterday.
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Three of 13 members quit over executive compensation issues.
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AFTER hemming and hawing and bobbing and weaving, the board of directors of Fannie Mae finally jettisoned Franklin D. Raines, the mortgage finance giant&#39;s former chief executive, and Timothy Howard, its former chief financial officer, last week.
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Three senior Citigroup Inc.  executives are leaving the company, after being found partially responsible for last month's forced closure of Citigroup's private bank in Japan, a person familiar with the matter said.
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WASHINGTON Sept. 30, 2004 - Top executives of Fannie Mae are being called before Congress to explain an accounting lapse as lawmakers delve into operations of the mortgage giant that is already under investigation by federal regulators.
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Fannie Mae's regulator has not approved the financial terms of the exits of two top executives and the men won't get that money until investigations of the company's finances are completed, one of the company's congressional overseers said Wednesday.
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Roger Barnes, who left Fannie Mae last November, said today that he had taken his concerns directly to Franklin Raines, the company's chief executive.
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U.S. mortgage finance giant Fannie  Mae FNM.N confirmed late on Tuesday that embattled Chief  Executive Franklin Raines and Chief Financial Officer Timothy  Howard were stepping down after accounting errors that are  expected to force a massive earnings restatement.
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Fannie Mae&#39;s regulators would take steps to oust top executives, including chairman and chief executive Franklin D. Raines and Chief Financial Officer J. Timothy Howard
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Regulators have discovered serious accounting problems at mortgage giant Fannie Mae , prompting an inquiry by the Securities and Exchange Commission and calling into question its financial soundness, the company disclosed yesterday. Its shares fell nearly 7 percent.
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Description: Fannie Mae&#39;s Franklin Raines retires as CEO, and Timothy Howard resigns as CFO of the mortgage giant. This comes a few weeks after the Securities and Exchange Commission told Fannie Mae to restate
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The push for better ethics and transparent accounting in corporate America has had an unexpected side effect: more finance chiefs are calling it quits.
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WASHINGTON - Fannie Mae, the giant mortgage finance company, Monday agreed to abandon accounting methods its regulator criticized last week as being used to manipulate financial results.