Home » Archive for March, 2010
Wells Fargo (NYSE: WFC) Wins “Most Innovative” Award For Business Advice Library
Wells Fargo (NYSE: WFC) announced Wednesday it has received the Monarch Innovation Award for “Most Innovative Feature.” The bank received the award for its Business Online Advice Library that provides educational resources for... More of this article »
Mortgage Bond Issues Jump In Q1, Bank Of America (NYSE: BAC) Top Underwriter
The Federal Reserve’s buying program for mortgage backed securities is set to officially end today. The conclusion of the program comes at the close of the first quarter of 2010, which has seen the size of mortgage backed bond... More of this article »
Citigroup (NYSE: C) Hires Bloomberg Deputy as New PR Executive
Citigroup (NYSE: C) has hired a top deputy to New York Mayor Michael Bloomberg in hopes of boosting the company’s public image and to mend the company’s relations with state and federal regulators. Edward Skyler, a 36-yaer... More of this article »
Analysts Cut Earnings Outlook for Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS)
Analysts from different camps seem to be in agreement about Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) concerning earnings in the first quarter, and that is that they aren’t going to be that good for either company. Most... More of this article »
Five Greek Banks Downgraded by Moody’s (NYSE:MCO)
In a reminder of the fragility of the Greek credit crisis, and the sovereign debt challenges they still face, Moody’s (NYSE:MCO) downgraded five Greek banks today, citing the debt challenges will eat into the earnings of the... More of this article »
Citigroup (NYSE: C) and Bank of America (NYSE: BAC) Listed as “Greenest Banks”
Citigroup (NYSE: C) and Bank of America (NYSE: C) along with Johnson Financial Group, First National Bank of Omaha, New Resource Bank and 3rd Federal are some of the nation’s most environmentally friendly banks, according to... More of this article »
Prosper Marketplace Hits $1.8 billion in Loan Demand
Peer to peer lending company Prosper Marketplace has released their February loan statistics and have now reached a total loan demand of $1.8 billion. In a statement made by the company, Prosper asserted that it “maintains approximately... More of this article »
Prosper Marketplace Announces Series D Funding Round
Proper, a company that offers a peer-to-peer lending marketplace, has announced that it has entered into a letter of intent with new and existing investors for a Series D round of funding in the range of $13.3 million and $15.8 million. Prosper... More of this article »
FDIC Attempting to Block $1.4 Billion Tax Refund for JP Morgan Chase (NYSE: JPM)
The Federal Deposit Insurance Corporation is seeking to block a proposed $1.4 billion tax-refund for JP Morgan Chase & Co. JP Morgan Chase received the tax benefit after the FDIC seized Seattle-based Washington Mutual and sold... More of this article »
Global Payments Hires Goldman Sachs (NYSE: GS) Executive as new President
Global Payments Inc has appointed Goldman Sachs (NYSE: GS) executive Jeffrey Sloan to be its new president, according to a statement from the company on Tuesday. Mr. Sloan is currently managing director and partner at Goldman Sachs... More of this article »
Wells Fargo (NYSE: WFC) and Bank of America (NYSE: BAC) Have Most Exposure to Home Equity Loan Losses
Wells Fargo & Co (NYSE: WFC) and Bank of America (NYSE: BAC) have the most exposure to home equity loan losses as lenders face increasing pressure to write down the value of secondary loans more aggressively, according to a new... More of this article »
Bank of America (NYSE: BAC) Installs 18,000 Visually Impaired Friendly ATMs
Bank of America (NYSE: BAC) announced today that every ATM in the United States that it operates now has been equipped with voice-enabled technology, which will allow visually impaired individuals to easily access 18,000 Bank of America... More of this article »
Wells Fargo (NYSE: WFC) Converts International Wachovia Locations
Wells Fargo (NYSE: WFC) announced Tuesday that the majority of the international Wachovia locations have begun operating under the Wells Fargo brand. The change impacted more than 30 locations and is the latest step in the bank’s... More of this article »
Is Richard Bove Too Bullish on Citigroup? (NYSE: C)
Earlier today, Richard Bove, a noted analyst from Rochdale Securities, told CNBC that Citigroup (NYSE: C) was a “buy.” In his recommendation, Bove said that the government would be able to divest itself of its Citigroup... More of this article »
Richard Bove Raises Citigroup (NYSE: C) to “Buy” Rating Citing Strong Fundamentals
Richard Bove, an analyst with Rochdale Securities, told CNBC on Monday that he raised his rating on Citigroup (NYSE: C) to “buy” because he believes that the government will be able to sell its Citigroup stock without... More of this article »
Citigroup (NYSE: C) to Spin-Off Primerica (NYSE: PRI) in IPO This Week
Citigroup (NYSE: C) plans to spin-off its Primerica Inc (NYSE: PRI) unit, a commission-based network of sales representatives which sell life insurance and investment products this week. Citigroup is spinning off its Primerica unit... More of this article »
Citigroup (NYSE: C) and Bank of America (NYSE: BAC) Cutting Affinity Credit Cards
Citigroup (NYSE: C), Bank of America (NYSE: BAC) and other large-cap banks are quickly moving away from niche-branded rewards credit cards as they become less profitable because of the tightened credit market and industry reforms from... More of this article »
Citigroup (NYSE: C) Long Term Stock Price Dependent upon Financial Reform, Not Government Stock Sale
As details emerge about the federal government’s pending sale of billions of dollars worth of Citigroup (NYSE: C) stock, many have raised questions about the stock’s outlook in the post-bailout world. The U.S. treasury purchased... More of this article »
Morgan Stanley (NYSE: MS) Hires 2 New High-Producing Brokers Loses Manager to Wells Fargo (NYSE: WFC)
Morgan Stanley (NYSE: MS) announced on Friday that it had hired two high-producing broker advisors to join its Grand Rapids, MI, but lost an important manager out of its St. Louis office to Wells Fargo’ (NYSE: WFC) Wells Fargo... More of this article »
$100 Million Predatory Lending Lawsuit Against JP Morgan Chase (NYSE: JPM) Dropped
Lenny Dykstra dropped a $100 million predatory lending lawsuit against JP Morgan Chase & Co (NYSE: JPM) and the bank has come to an agreement with a bankruptcy trustee to allow it to foreclose on the home of the former baseball... More of this article »
Morgan Stanley (NYSE: MS) to Serve as Advisor for U.S. Treasury Sale of Citigroup (NYSE: C) Stock
Morgan Stanley (NYSE: MS) has reached a deal with the government to serve as the underwriter and advisor on the U.S. Treasury’s sale of its 27% stake in Citigroup. The stock sale, considered one of the largest offerings in history,... More of this article »
Bank of America (NYSE: BAC) Hires Four New International Banking Executives from Citigroup (NYSE: C), JP Morgan Chase (NYSE: JPM), Royal Bank of Scotland (LLON: RBS) and Others
Bank of America (NYSE: BAC) has hired four new executives in its global banking business, including three new hires in Asia, as part of its ongoing push into the international banking business. Percy Batliwalla will join the company... More of this article »
Treasury Taking a Chance by Selling Citigroup (NYSE:C) Shares Incrementally?
There are a couple of ways to look at the decision by the Treasury Department to sell its stake in Citigroup, with one being somewhat positive and predictable, and the other having a lot of downside possibilities built into it. First... More of this article »