Home » Archive for October, 2009
Citibank (NYSE: C) Stock Suffers From $10 Billion 4th Quarter Write-down
Citibank (NYSE: C) shares took a major hit on Friday after accounting expert Robert Willens said that Citibank would likely have a $10 billion fourth-quarter charge on its tax-deferred assets. A $10 billion charge would be approximately... More of this article »
Time to start buying Bank of America Stock
Bank of America (NYSE: BAC) has experienced a sell off as of late. Market researchers speculate that this activity has originated with the buy-and-hold investors, after reading last weekend’s Wall Street Journal article that indicated... More of this article »
Capital One Financial Corp (NYSE: COF) Leads the Way as Investors Shift Focus to Earnings Power
A recent analysis by investment bank Keefe, Bruyette & Woods Inc, reported third-quarter core pretax, pre-provision earnings rose slightly from the second quarter. Capital One Financial Corp. (COF) topped the list with a 5.58%... More of this article »
Democratic Lawmakers Call for Regulations To Limit Bank Overdraft Charges
In a move that would affect commercial banks like Bank of America (NYSE: BAC), Wells Fargo & Co. (NYSE: WFC), and JP Morgan Chase (NYSE: JPM), Democratic lawmakers on Friday publicly called for regulatory changes to banks ability... More of this article »
Uncertain Commercial Lending Losses Could Make 2010 a Scary Year for Wells Fargo (NYSE: WFC), Citigroup Inc (NYSE: C) and Bank of America (NYSE: BAC)
Although the projected surge in commercial loan defaults is expected to be felt largely by regional and community banks, some experts say big banks including Citigroup (C), Bank of America (BAC), and Wells Fargo (WFC) may not be immune... More of this article »
Editorial: Obama Administration Under Attack from All Quarters Over Attempt to Institutionalize ‘Too Big to Fail’
Saying it would give the executive branch far too much “unprecedented power,” both Republicans and Democrats struck out at the bill introduced to battle against financial risk in the economy. Responses were it would not... More of this article »
Bank of America’s (NYSE:BAC) Latest Ad Campaign Targets Building Trust with Consumers
Bank of America (NYSE:BAC) has decided in their latest $40 million marketing campaign to get back to simplicity with their message, and it seems to be working so far, as consumers seem to understand the trouble the economy is in, and... More of this article »
HSBC Holdings (NYSE: HBC) Believes There Will Be More Bank Consolidation Than Breakups Going Forward
Although there has been a lot of talk lately of breaking up big banks so the idea that they’re “too big to fail” doesn’t have an effect on the banks going to the governments to be bailed out every time they... More of this article »
Citibank (NYSE: C) Unannounced Account Closing Highlights Necessity for Multiple Credit Cards
With credit card companies such as Citibank (NYSE: C), Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC) and others raising interest rates on their credit cards, cutting limits and in some cases closing down cards without any... More of this article »
Genworth Financial (NYSE: GNW) Posts Q3 Profit On Shrinking Investment Losses
Genworth Financial Inc. (NYSE: GNW) announced Thursday after the market closed that it earned $45 million or 10 cents a share in the third quarter of 2009. The result compares to a loss of$258 million or 60 cents a share in the same... More of this article »
Ten Things You Didn’t Know About Lending Club
Peer-to-Peer lending company, Lending Club, has made a big splash in the world of person-to-person lending by providing consistently good interest rates to its lenders over the last few years. Here are ten facts you may not know about... More of this article »
Met Life Posts Loss
Earnings season is in full swing – and although GDP data came in at a better than expected rate today, we also had a sobering reminder that that does not flow equally to all firms, nor are all the tough times behind us. Today, MetLife... More of this article »
JP Morgan (NYSE: JPM) and Goldman Sachs (NYSE: GS) Analysts Predict GDP Growth Rates
The U.S. economy expanded at a pace of 3.5% annual growth during the months from July to September fueled by automotive and real estate stimulus. Now that the recession is over, analysts have begun the debate of how strong the recession... More of this article »
Citibank (NYSE: C), Bank of America (NYSE: BAC) and Other Credit Card Issuers Raising Rates to “Clear the Books” of Old Debt?
Citibank (NYSE: C), Bank of America (NYSE: BAC) and other credit card issuers have been sending customers letters informing them that their interest rates would be jumping dramatically. Some Citibank customers with perfect credit have... More of this article »
Bank of America (NYSE:BAC) Expands Into Brazil Trading Market with Global Trading Platform
The growing demand for complex trading products has offered Bank of America (NYSE:BAC) increased opportunities to expand its international algorithmic trading platform, and there latest expansion is into Brazil, where they’ve... More of this article »
Citigroup (NYSE: C) CEO Vikram Pandit Blames Unregulated “Shadow Banking” for Industry Problems
Speaking at its bank credit card processing center in Las Vegas, Citigroup (NYSE: C) CEO Vikram Pandit blamed unregulated “shadow banking” as a major part of the banking industry’s problems, saying that he believes... More of this article »
New Compensation Guidelines for Citigroup (C) and Bank of America (BAC) Show Delicate Balance Between Economics and Politics
According to a Wall Street Journal analysis, the sharp cuts in total compensation announced by Treasury Department pay czar Kenneth Feinberg, including firms Citigroup Inc. (C) and Bank of America Corp. (BAC), show how implementing... More of this article »
Credit Cards Continue to Gouge Consumers
The Credit Card Industry has drawn significant criticism lately, as consumers have begun to focus on their cost of funds, just as institutions do. While Congress has debated and passed new legislation set to curtail these actions,... More of this article »
Consumer Alert: Fake Credit Unions Ripping-Off Customers with Advanced-Fee Loan Scams
Con artists come out of the woodwork during times of uncertainty and take advantage of those who are desperate for help, and this last recession has been no exception. It’s been reported that a new wave of fake credit unions are... More of this article »
U.S. Personal Bankruptcy to Reach Near Record Levels in 2009
The number of people finding bankruptcy in the United States will likely be the second-highest total ever. With stagnant wages and increasing levels of unemployment, nearly 130,000 families filed for bankruptcy last month alone. The... More of this article »
U.S. Foreclosure Rates Surge as Unemployment Continues to Rise
Even including the attempts by the government to slow down foreclosures through programs aimed at modifying the terms of loans, mortgage defaults continue to grow, according to a report from, RealtyTrac, a real estate data company. “Rising... More of this article »
American Express (NYSE: AXP) and Wal-Mart Roll (NYSE: WMT) Out Improved Stored Value Debit Cards
Low income consumers without bank accounts have been charged exorbitantly high fees by banks and other financial institutions to put cash onto “stored value” credit cards, but now Wal-Mart (NYSE: WMT) and American Express (NYSE:... More of this article »
Bank of America (NYSE: BAC) Unable to Find a Successor to Kenneth Lewis
Bank of America (NYSE: BAC) can’t seem to find any qualified candidates that actually want to be the company’s next CEO, according to a new report from the Wall Street Journal. “Outsiders either aren’t interested or... More of this article »