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Business briefs - 1 hour ago - WASHINGTON Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit. The lawmakers aim to attach the plan 0133 : Dubuque Telegraph Herald

Obama presses Congress to move on economic relief - 40 minutes ago - WASHINGTON President-elect Barack Obama again pressed Congress on Friday for quick action on an economic recovery package, a day after Senate Democrats raised a number of objections to emerging details of the plan. Pointing to a new jobs 0133 : Detroit News

Posted by Theo Francis on January 08 - 20 hours ago - If you want a sign the financial world is changing fast, look no farther than Thursday's announcement that Citigroup would back legislation allowing judges to modify mortgage terms in bankruptcy. The bill, championed for more than a year by 0133 : BusinessWeek

Mortgage Servicing Loses Luster as Bad Loans Mount Update1 - 4 hours ago - Jan. 9 Bloomberg Bank of America Corp., GMAC LLC, and WL Ross Co. are among mortgage servicers that have endured billions of dollars in unexpected costs and added thousands of workers to handle rising foreclosures, denting a business 0133 : Bloomberg

Citigroup agrees to home loan revisions - 9 hours ago - WASHINGTON - Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit. The lawmakers aim to attach the plan 0133 : Boston Globe

Georgia banks problems alarming, data show - 54 minutes ago - More Georgia banks faced deeper problems from souring loans and other challenges in the third quarter, based on a commonly used measure of their financial health. The number of banks with high Texas ratios a figure that attempts to 0133 : Atlanta Journal Constitution

UPDATE 3-US bank industry slams lawmaker-Citi mortgage deal - 40 minutes ago - WASHINGTON NEW YORK, Jan 9 Reuters - A top bank industry group said on Friday that it opposes an agreement between Citigroup Inc C.N and Democratic senators that would rewrite U.S. bankruptcy law to help troubled mortgage borrowers 0133 : Reuters

Citigroup deal could avert new foreclosures - 8 hours ago - Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans to prevent foreclosures and urged other lenders to follow suit. The lawmakers said Thursday that the change in bankruptcy law 0133 : NorthJersey.com