Home » Archive for December, 2010
Wells Fargo (NYSE: WFC) ATM’s To Speak Russian
Wells Fargo & Co. (NYSE: WFC) clearly has growth aspirations. With it’s competitors weakened since the financial crisis, while they emerged nearly unscathed and with backing from Warren Buffett, the firm has enacted a series... More of this article »
Bank of America (NYSE: BAC) Settlement with Lehman Not Yet Final
Bank of America (NYSE: BAC) may be in for an expensive settlement, pending a final decision by a bankruptcy judge. The firm had received notice that a bankruptcy judge amended his order that they pay Lehman Brothers Holdings Inc. $590... More of this article »
JPMorgan Chase (NYSE: JPM) Sued by Petters Trustee
Tom Petters is presently serving a 50-year prison sentence for his December 2009 conviction on 20 counts of wire fraud, mail fraud, money laundering and conspiracy. Essentially, he ran a Ponzi scheme that was profitable for him, and... More of this article »
Horan Appointed Regional Exec at JPMorgan Chase (NYSE: JPM)
JPMorgan Chase has appointed David Horan as regional executive for its middle market commercial banking operation in Albany and Syracuse.Horan succeeds William Dehmer, who has headed the New York City-based bank’s regional operations... More of this article »
Ohio Pension Fund Sues Wells Fargo & Co (NYSE: WFC)
“Past performance does not guarantee similar future results.” That is a phrase every investor has seen at one time or another, when reviewing a prospectus or being pitched an idea. Apparently, an Ohio pension fund either... More of this article »
NY Fed Chief’s Daybook Shows Meetings with Execs from Goldman Sachs (NYSE: GS), Citigroup (NYSE: C), JPMorgan Chase (NYSE: JPM), and Others
When Tim Geithner left the NY Federal Reserve Bank to become Treasury Secretary, his seat was filled by William Dudley, a former partner and chief U.S. economist at Goldman Sachs (NYSE: GS). When he took position in February 2009,... More of this article »
Lending on the rise at JPMorgan Chase (NYSE: JPM), Wells Fargo (NYSE: WFC), and Others
The lack of lending has been cited as a primary source of the soft economic recovery underway in the United States. While banks are struggling to comply with new regulations, including the Dodd Frank congressional finance reform, they... More of this article »
Citi (NYSE: C) Employee Arrested in India
Indian police have announced that they have arrested a key suspect in a multi-million-dollar scam unearthed at a Citibank branch in Gurgaon, a booming satellite city outside New Delhi. Police allege that more than four billion rupees... More of this article »
JPMorgan Chase (NYSE: JPM) and Barclays Plc (NYSE: BCS) Drop Opposition to MBIA (NYSE: MBI) Restructuring Plan
MBIA (NYSE: MBI), the largest U.S. bond insurer before it suffered major losses from insuring sub prime and other risky securities, has a plan to restructure it’s businesses. Up to now, this plan has been opposed by JPMorgan Chase... More of this article »
Goldman Sachs (NYSE: GS) Taking New View On Risk?
Goldman Sachs Group Inc. (NYSE: GS) has long been a bastion of risk taking. Now though, with the advent of the Dodd Frank legislation and general aversion to risk by investors the firm is struggling to take on a new position – one... More of this article »
Allstate (NYSE: ALL) Latest To Sue Bank of America (NYSE: BAC)
Bank of America (NYSE: BAC), the battered Charlotte based bank, has been at the center of controversy since the financial crisis began. With it’s acquisitions of Countrywide and Merrill Lynch, the firm strives to diversify and... More of this article »
Pandit Lauds Citigroup (NYSE: C) Staff, Continues To Show Progress
Vikram Pandit, Chief Executive of Citigroup may be on a family vacation in India, but still took time to praise the bank’s employees for what he called a “crucial year” in the “transformation and rebirth of the company.”... More of this article »
Bank of America (NYSE: BAC) Promotes Elcock
Bank of America (NYSE: BAC) continues to reshuffle the management team. With the additions of the former Countrywide and Merrill Lynch brands in recent years, some have wondered if the firm’s retail banking network would be neglected... More of this article »
Italy’s Lazio Region Latest to Sue Banks Over Derivatives, UBS (NYSE: UBS), Citigroup (NYSE: C), Bank of America (NYSE: BAC), JP Morgan (NYSE: JPM) and Others Named
Caveat Emptor? Perhaps Italy’s Lazio region does not believe in this Latin idiom. The region recently sued 11 domestic and foreign banks, claiming $108.7 million in compensation for alleged hidden costs in derivatives they purchased. The... More of this article »
JPMorgan Chase (NYSE: JPM) and Natixis Capitalize on Investor Behavior
Investors often tend to be a paranoid lot. Spurned by past losses, current and future trading behavior is often shaped. Banks and financial institutions recognize this fact, and tailor new products to appease these needs. Most recently,... More of this article »
JPMorgan Chase & Co. (NYSE: JPM) and Barclays (NYSE: BCS) Optimistic on General Motors (NYSE: GM)
Shares of General Motors Co. (NYSE: GM) are on an upswing, following positive comments from analysts at JPMorgan Chase & Co. (NYSE: JPM) and Barclays Plc (NYSE: BCS). The sentiment is nearly unanimous, as just 40 days after trading... More of this article »
Bank of America (NYSE: BAC) Shakes Up Management
Brian Moynihan, Chief Executive Officer of Bank of America (NYSE: BAC) is shaking up his executive ranks. Moynihan has expressed a goal to organize the company around his goal of more cross-selling to customers who interact with... More of this article »
Citigroup (NYSE: C) Insurance Agency Fined
Citigroup (NYSE: C) has been struggling to rebound since the financial crisis, but making steady improvement as it sheds non-core assets. The firm is shifting away from the supermarket style banking model that made it famous, and also... More of this article »
Fraud Probe Launched in Italy, Assets Seized from Bank of America (NYSE: BAC), Deustche Bank (NYSE: DB), and Others
A fraud probe is underway in Italy, focusing on the sale of derivatives to five municipalities in central Italy. Connected to this, Italy’s finance police have seized assets from six lenders totaling $29 million. Police said... More of this article »
Becoming Educated about Bad Credit Loans
If you have gone through a tough financial situation that left your credit damaged and now you find you need a loan, instead of feeling defeated you need to know that bad credit loans do exist. As with any loan, the key in taking... More of this article »
Wells Fargo (NYSE: WFC) to Modify $2.4 Billion of Mortgage Loans in California
The Wall Street Journal is reporting that Wells Fargo & Co. (WFC) is agreeing to an estimated $2.4 billion is mortgage modifications for California homeowners. California is the ninth state to reach an agreement with Wells Fargo.... More of this article »
Citigroup (NYSE: C) Renews Deal with The Children’s Place
Citigroup (NYSE: C) announced today a multi-year renewal of its long-standing U.S. private label credit card partnership with The Children’s Place Retail Stores Inc., the largest pure-play children’s specialty apparel retailer... More of this article »
JPMorgan Chase (NYSE: JPM) Acquires New Canary Wharf Headquarters
The Canary Wharf section of London is a hotbed for banking activity. Although HSBC has shifted their headquarters to Asia, there remains significant interest in the locale from other major banks. Today, JPMorgan, the investment banking... More of this article »