Home » Archive for January, 2010
CommunityLend Now Available to Borrowers and Lenders in Quebec
Canadian Peer-to-Peer Lending Company CommunityLend Now Available in Quebec CommunityLend, a Canadian peer-to-peer lending company, announced on January 29th that their service is now available to both borrowers and lenders in the... More of this article »
Kiva Review: A Microfinance Story for the Digital Age
Although Microfinance initiatives have been around for some time, they did not gain significant notoriety until Matt Flannery and Jessica Flannery (Jessica Jackley) founded the organization we know as Kiva in October of 2005. Nearly... More of this article »
JP Morgan Chase (NYSE: JPM) Planning Global Corporate Bank
Throughout the financial crisis, JP Morgan (NYSE: JPM) has been heralded as the beacon of light on Wall Street, managing to insulate itself from the subprime mess that rocked Citigroup (NYSE: C) and others along the way. Through that... More of this article »
Goldman Sachs (NYSE: GS) Gets Innovative On Compensation
No matter how you feel about Goldman Sachs (NYSE: GS), you must admit that they are innovative, if nothing else. While Main Street calls for the blood of bankers, Goldman is in a difficult position to show some contrite behavior, yet... More of this article »
J.P. Morgan (NYSE: JPM) Installs Steve Black as Vice Chairman of Company
After successfully helping the transition of his successor Jes Staley while he moved into the role of executive chairman of the investment bank, J.P. Morgan Chase (NYSE:JPM) announced it has now named Steve Black as vice chairman of... More of this article »
SmartyPig to End Association with WestBank in 2010
WestBank, the FDIC-insured financial institution that handles SmartyPig’s online savings account, recently released its fourth quarter earnings results and stated that WestBank and SmartyPig will probably end their association in... More of this article »
JP Morgan Chase (NYSE: JPM) Executive Chairman Stepping Down, Staying on As Vice Chairman for Three Years
JP Morgan Chase & Co.’s executive chairman, Steve Black, will transition out of his roll at the company’s investment bank and become a vice chairman after helping lead the division to a record year in 2009. Black agreed to... More of this article »
Citigroup to Sell Global Real-Estate Investment Unit (NYSE: C)
Citigroup (NYSE: C) is in advanced talks to sell its global real-estate investment unit as part of an ongoing effort to slim down so that it can repay its federal debt, according to several sources. Citigroup has developed a short-list... More of this article »
Standard & Poor’s Says UK Banking System Sucks
Standard & Poor’s released a report named ‘Banking Industry Country Risk Assessment: United Kingdom,’ where they stated “We no longer classify the United Kingdom among the most stable and low-risk banking... More of this article »
Bank of America (NYSE:BAC) Decides to Keep Merrill Lynch Asia Property Funds Business
Bank of America (NYSE:BAC) has changed its mind concerning getting out of the Asia property funds business it inherited when it acquired Merrill Lynch, saying it will now help raise capital for the unit as the Asian real estate sector... More of this article »
JP Morgan (NYSE: JPM) To Open Global Corporate Bank Unit, Challenge Citigroup (NYSE: C) and HSBC
JP Morgan Chase (NYSE: JPM) plans to launch a new unit focused on global business, emphasizing the sale of loans and commercial banking services to international corporations, according to a Financial Times Report. The unit would expand... More of this article »
The Next Bailout Recipients? Employees of Bank of America Corp. (NYSE: BAC), Citigroup (NYSE: C), and Goldman Sachs (GS)
You have to love, or at the very least, appreciate the irony. The latest victims in the imbroglio over banking compensation are … bank employees. Bank of America Corp. (BAC) and Citigroup Inc (C) among others have instituted programs... More of this article »
ZimpleMoney Review: Peer-to-Peer Lending For People You Know
Peer-to-peer lending sites such as Prosper Marketplace and Lending Club have received much of the spotlight when it comes to innovative financial products during the last couple of years, but there’s another type of peer-to-peer... More of this article »
Wells Fargo to Rebrand Wachovia Branches in Texas (NYSE: WFC)
Wells Fargo & Co. (NYSE: WFC) announced that it is planning on rebranding its Wachovia branches in Texas as Wells Fargo locations. The company also announced that it would be adding new banking centers to the state. After the rebranding... More of this article »
Prosper Statistics: Over Half of Prosper Marketplace Loans are Used for Debt Consolidation
Prosper Marketplace one of the two largest peer-to-peer lending companies operating in the world, has released new statistics showing that 53% of all loans on Prosper’s peer-to-peer lending marketplace were used to consolidate... More of this article »
How to Apply for a Loan at Lending Club or Prosper Marketplace
If you’re in need of money, the traditional route would be to head down to the bank and apply for a loan or appeal to a family member and ask them for a loan. Banks are increasingly being pressured to raise their capital levels... More of this article »
Prosper Marketplace Now Open to Mississippi Lenders
Prosper Marketplace has announced that they have met state regulations to operate in Mississippi and now have clearance to accept lenders from the state. In a statement made on Prosper’s company blog, the company commented, “We... More of this article »
Polish Social-Lending Website Monetto Shutting Down
Polish social lending website Monetto sent an e-mail newsletter to its users on January 20th informing them that their website would cease operations after the end of February. In the newsletter, Monetto urged that lenders update... More of this article »
Report: Bank Of America (NYSE: BAC) CEO Brian Moynihan To Get Pay Raise, Make 950K
According to recent reports, new Bank of America (NYSE: BAC) CEO Brian Moynihan will receive a base salary of $950,000 a year, marking a 19 percent bump from his 2008 pay rate. However, the chief executive will not receive any kind... More of this article »
Wells Fargo (NYSE:WFC) Expands ExpressSend Across Latin America
Latin America is a place where numerous American immigrants from the region send back money to help their families as the better themselves in the country. To that end, Wells Fargo (NYSE:WFC) has expanded its ExpressSend service to... More of this article »
Citigroup (NYSE:C) Bankers Bonuses More Liquid Than Thought – Can Sell Common Stock in April
It seems from a recent news report that Citigroup (NYSE:C) has found a way to make their bonuses to their bankers more liquid than anybody thought when compensation was announced, as an unnamed source familiar with the situation stated... More of this article »
Morgan Stanley (NYSE:MS): Bank of America (NYSE:BAC) May Be Hit Harder than Thought from Obama Trading Ban
The original report from Citibank (NYSE:C) in response to a proposal to limit proprietary trading from Obama was that Bank of America (NYSE:BAC) would lose about 1 to 2 percent of earnings from the event. Morgan Stanley (NYSE:MS) has... More of this article »
Will Sharpened Clawback Provisions at J.P. Morgan Chase (NYSE: JPM), Bank of America Corp. (NYSE: BAC), and Morgan Stanley (NYSE: MS) Quiet Populist Rage?
The big banks continue to respond to the growing outrage focused on their compensation practices. The Wall Street Journal reports that many banks including J.P. Morgan Chase (JPM), Bank of America Corp. (BAC), and Morgan Stanley (MS)... More of this article »