Home » Archive for April, 2010
Small Businesses Get Credit CARD Act Protections from Chase (NYSE: JPM), Bank of America (NYSE: BAC) and American Express (NYSE: AXP)
Small businesses across the country that make use of credit cards from Chase (NYSE: JPM), American Express (NYSE: AXP) and Chase (NYSE: JPM) will receive protections from the Credit Card Act that took effect on February 22nd. The Credit... More of this article »
Bank of America to Raise Credit Card Interest Rates on 4 Million Customers (NYSE: BAC)
Bank of America (NYSE: BAC) will be the next in an increasingly long line of financial institutions to make its credit card terms less favorable to consumers and will be raising interest rates or minimum payments on up to 4 million... More of this article »
JPMorgan Chase (NYSE: JPM) CEO Developing Succession Plan
JP Morgan Chase & Co (NYSE: JPM) CEO Jamie Dimon is believed to be preparing succession plans and will likely restructure the rules of top executives at the bank, according to a report from the New York Post, citing anonymous sources. The... More of this article »
New Wells Fargo (NYSE: WFC) Executive being Sued by Morgan Stanley (NYSE: MS)
Wells Fargo Advisors (NYSE: WFC) named Kevin Whitehead as its new managing director and market manager for St. Louis last week, and now Whitehead’s former employer, Morgan Stanley (NYSE: MS) is suing him for breach of contract. In... More of this article »
Goldman Sachs (NYSE: GS) Buys Into Ganek’s $4 Billion Hedge Fund
Petershill Fund Offshore LP, a Goldman Sachs’ (NYSE: GS) buyout fund, purchased a minority stake in David Ganek’s $4 Billion Level Global Investors LP. The limited partnership is a $1 billion fund that is setup to purchase... More of this article »
Lending Club Vs Prosper – Which Company is the Largest Peer to Peer Lending Company?
Both Prosper Marketplace and Lending Club have made statements in the last day that they are the largest peer to peer lending company in the world. Prosper Marketplace released a statement on its blog asserting that it “maintains... More of this article »
Citigroup (NYSE: C) Extends Deadline on $6 Million Fee to Zale
Citigroup (NYSE: C) gave Zale, a struggling jewelry retailer, a one month reprieve on a $6 million fee that the New York-based bank hoped to collect in order to cover a shortfall in credit sales required under an existing contract... More of this article »
Citigroup (NYSE: C) Says Mexico Debt to be Listed in World Government Bond Index
Citigroup (NYSE: C) said that Mexico’s bonds are eligible to be included in the New York-based bank’s World Government Bond Index in an emailed statement on Wednseday. Mexico “satisfies all three World Government Bond... More of this article »
Goldman Sachs (NYSE:GS) Slashes U.S. Payroll Estimate
After Goldman Sachs (NYSE:GS) seeing a report contradicting their original projections of U.S. payrolls adding 275,000 jobs for March, Goldman Sachs revised their numbers down 75,000 to 200,000. Job payrolls plunged in February by... More of this article »
Morgan Stanley (NYSE: MS) To Win Big in Government Sale of Citigroup (NYSE: C) Shares
Investment banking giant Morgan Stanley (NYSE: MS) will be a significant beneficiary in the US government plan to sell off its stake in Citigroup (NYSE: C) over the course of 2010. A contract between Morgan Stanley and the Treasury... More of this article »
U.S. Bank Ordered to Pay $27 Million in Patent Case – are Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC) Next?
U.S. Bank lost a patent-infringement case in federal district court, with the jury ordering them to pay $27 million in damages to DataTreasury Corp., which has patents on the technology used to capture and store images of checks. Bank... More of this article »
Citigroup (NYSE:C) Adding Mexican Securities to World Government Bond Index
The market responded positively to the news Citigroup (NYSE:C) had determined the Mexican local-currency bonds are eligible to be included in the World Government Bond Index, sending the Mexican peso to a 17-month high yesterday. Among... More of this article »
Chevron (NYSE: CVX) Nominates Wells Fargo (NYSE: WFC) CEO and Former Republican Senator to Board of Directors
Chevron Corporation (NYSE: CVX) announced on Wednesday that it has nominated former Republican Senator Chuck Hagel and Wells Fargo CEO John Stumpf to its board of directors. Shareholders of Chevron will vote on the nominations at the... More of this article »
JPMorgan Chase CEO Outlines Plans to Expand Investment Bank
JP Morgan Chase & Co (NYSE: JPM) Chief Executive Jamie Dimon outlined plans to expand the second-largest U.S. bank’s investment and private banking division in his annual letter to shareholders. The company will use 2010... More of this article »