Archive for November, 2009
New Rules Pass Regulating Conflict of Interest for Regional Federal Reserve Board of Directors
New rules were put into place to better handle conflicts of interest in regard to the board of directors of the 12 regional Federal Reserve banks. The new rules were put into immediate effect. Much of this impetus behind the rules was when Goldman Sachs (NYSE:GS) became designated as a bank holding company while Goldman [...]
Bank of America Corp (NYSE:BAC) Requests Dismissal of Investor Class-action Lawsuit
Bank of America Corp (NYSE:BAC) seeks the dismissal of a class-action lawsuit filed by investors against the nations’ largest bank as measured by assets, saying there was nothing to the alleged hiding of data concerning the losses at Merrill Lynch and the payments of bonuses which were public knowledge, according to the financial giant. The [...]
Federal Reserve Wants Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to Submit TARP Repayment Plans
It seems the Federal Reserve has had mounting pressure to pressure banks like Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to submit repayment plans concerning the TARP funds they received. Along with the three major banks above, other banks being asked to submit TARP repayment plans are PNC (NYSE:PNC), Fifth Third Bancorp (Nasdaq:FITB), [...]
FDIC Problem Bank List Surges to 552
In a report from the FDIC that the Deposit Insurance Fund has been operating in the red since the third quarter, down by $8.2 billion, there was other bad news, as the number of banks on the problem list of the FDIC has now risen to 552, which in reality is probably much worse than [...]
Europe Bank Stocks Sink on Dubai Debt Exposure
In recent years, few economic stories have been as compelling as the growth in Dubai. Dubai, a prominent Middle East city-state had enjoyed significant expansion in GDP and employment, bucking the trends exhibited in the US and Europe. However, what seemed too good to be true just might be. The Dubai government had raised funds [...]
Wells Fargo (NYSE: WFC) and Others Continue to Slash HELOCs
Wells Fargo & Co (NYSE: WFC) and other major banks have been continuing to cut or reduce home equity lines of credit because they are frightened that consumers will default, and it seems that the problem of banks cutting credit lines is beginning to accelerate. According to the Chicago Tribune, Some banks have even gone [...]
Charles Schwab (NYSE: SCHW) Offering New Line of Commission Free Exchange Traded Funds
Charles Schwab has begun offering a new line of exchange traded funds that do not require the buyer to pay any sort of commission. Exchange traded funds work essentially the same way that mutual funds do, in that you and other individuals are getting together and mutually funding an investment, but you can buy and [...]
How Lending Club Works
Peer-to-peer lending companies have been operating in the United States for about three years now. Companies such as Prosper.com and Lending Club are providing loans funded by individuals as an alternative to borrowing from banks in hopes of providing investors better rates of return on their money and by giving borrowers better terms and interest [...]
Peer-to-Peer Business Loans: How to Get Capital for Your Company
If you have a small business and need some operating capital or capital to expand your small business, it can quite often be very difficult to find funding. Typically funds from angel investors or from venture capitalist require a lot of groundwork and meetings and business loans from banks usually come with less than favorable [...]
How to Use Peer-to-Peer Student Loans to Pay for College
With the amount of available credit in the United States shrinking dramatically over the last year, banks have become much more selective about what type of loans they are willing to provide. Private student loans were one of the first types of loans that banks stopped offering because of the risk associated with providing loans [...]
Credit Cards Delinquency Rates Drop Unexpectedly
The credit card industry is highly cyclical, and American consumers in particular have become increasingly depending on using credit cards as a source of liquidity. The rate at which consumers pay these credit cards are an important metric to financial institutions who use the inflows as liquidity. This year, consumers are exhibiting behavior that is [...]
AIG (NYSE: AIG) Cuts Salaries For Top Executives
In an effort to comply with the government regulations on bailed out firms, insurance giant American International Group Inc. (NYSE: AIG) announced that it has cut the salaries of three top executives. The government provided AIG with $182.5 billion in exchange for an 80 percent stake in the company. The stipulations of the bailout include restrictions [...]
Federal Reserve Wants Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to Submit TARP Repayment Plans
It seems the Federal Reserve has had mounting pressure to push banks like Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to submit repayment plans concerning the TARP funds they received. Along with the three major banks above, other banks being asked to submit TARP repayment plans are PNC (NYSE:PNC), Fifth Third Bancorp (Nasdaq:FITB), [...]
FDIC Problem Bank List Surges to 552
In a report from the FDIC that the Deposit Insurance Fund has been operating in the red since the third quarter, down by $8.2 billion, there was other bad news, as the number of banks on the problem list of the FDIC has now risen to 552, which in reality is probably much worse than [...]
Federal Reserve Minutes Detail Gov’t Liquidity Programs, State of Economy
The Federal Reserve released the minutes from its last Federal Open Market Committee meeting held on September 22. Comments leaned toward an improving economy with improving retail sales and stabilizing unemployment. The report listed details of the Fed’s exit plans for the Term Auction Facility (TAF) program and Term Securities Lending facility (TSLF). The Federal [...]
worst video player ever- after over2:00 there's still no video appearing 