Home » Archive for April, 2011
Bank of America (NYSE: BAC) Hires Former JPMorgan Chase (NYSE: JPM) Exec Howard
The game of musical chairs on Wall Street continues to go on. Earlier this week JP Morgan Chase (NYSE: JPM) Announced significant hiring plans across the business, and Citigroup (NYSE: C) followed with large expansion plans of their... More of this article »
JP Morgan Chase (NYSE: JPM), Bank of America (NYSE: BAC), Citigroup (NYSE: C), Goldman Sachs (NYSE: GS), Wells Fargo (NYSE: WFC), and Others Named In EU Probe
Major banks are facing increased scrutiny in the EU, where a competition watchdog is investigating their practices, as well as a financial data firm and a clearing house, in the market for credit default swaps. During the financial... More of this article »
JPMorgan Chase (NYSE: JPM) Analysts Chime in on Gas Prices
As the summer travel season is nearly upon us, consumers are worried about the prospects of rising gasoline prices. With speculators expecting further volatility in the middle east, many fear gas prices will continue to inch higher... More of this article »
AIG (NYSE: AIG) Planning To Sue ICP and Moore Capital, Goldman Sachs (NYSE: GS) Next?
Against all odds, AIG (NYSE: AIG) was able to survive the financial crisis of 2008 (thanks to large cash infusions from the government.) Now though, their attention has to turned from surviving to going after some of the losses with... More of this article »
Former Wells Fargo (NYSE: WFC) Exec to Lead U.S. Bancorp (NYSE: USB) Ultra High Net Worth Division
The U.S. banking industry has become highly fragmented over the past few years. As many of the large banks change their business models to target new opportunities, most have the same goal: more wealthy customers. The theory goes that... More of this article »
Bank of America (NYSE: BAC) Plans New Credit Card Fees, Follows JPMorgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) Approach
The financial services industry continues to struggle with replacing the revenue lost through the Dodd Frank financial regulatory reform legislation. Since the major banks have to get out of prop trading, and now have limits on overdraft... More of this article »
JPMorgan Chase (NYSE: JPM) Exec Voices Concern Over Debt Ceiling
Although the government was able to avoid a shut down a few weeks ago, a bigger financial problem may be brewing as well. As noted in various news outlets, the debt ceiling for the U.S. is just above current levels, and is expected... More of this article »
California Public Employees Retirement System Disagrees with Plan from Goldman Sachs (NYSE: GS)
CalPERS, the California Public Employees’ Retirement System is concerned by a plan set forth by Goldman Sachs (NYSE: GS). Goldman’s plan is to liquidate Lehman Brothers Holdings Inc., the last remnants of the once storied... More of this article »
Citigroup (NYSE: C) To Hire 500 New Employees
In what may turn out to be some of the most promising signs of the economic recovery on Wall Street, Citigroup (NYSE: C) has disclosed plans to hire 500 new employees over the next two years. A bank spokesperson confirmed the rumors... More of this article »
JPMorgan Chase (NYSE: JPM) Executive Leads Charge For Raising Debt Ceiling
Matthew Zames, chairman of a Treasury Department advisory panel and a managing director at JPMorgan Chase & Co. (JPM), said failure to raise the nation’s $14.3 trillion debt limit could be “catastrophic.” By now, you’ve... More of this article »
Lending Club Surpasses More than $255 Million in Loan Originations
Lending Club, a peer-to-peer lending company, has now originated more than $255 million in loans to consumers. The news comes just three months after the company announced that it had surpassed $200 million in loan originations. As... More of this article »
Prosper.com Celebrates Five Years of Peer to Peer Lending
Prosper.com, a California-based peer-to-peer lending company, recently celebrated the fifth anniversary of its founding. The company pioneered the peer to peer lending business in which borrowers take out loans from borrowers through... More of this article »
JP Morgan (NYSE: JPM) Deal Sets Return Of $800 Million To Lehman Estate
JP Morgan (NYSE: JPM) has reportedly reached an agreement with the Lehman Brothers Trustees that will return $800 million to former customers of the now defunct investment bank. The deal will not impact financial results, according... More of this article »
Look Out Below! Citigroup (C) Leads the Big Banks in Reporting Lower Loan Balances
Citigroup (C), Bank of America (BAC), Wells Fargo (WFC), and JPMorgan Chase (JPM) all reported lower outstanding loan balances in the first quarter. CNNMoney is reporting that all told, average loans outstanding at the four banks dropped... More of this article »
Should Students Have a Credit Card?
For the majority of students, leaving home to go to university is the first time in their lives that they will be completely responsible for their finances. With the rising cost of higher education in the UK the average graduate leaves... More of this article »
Lending Club Nominated for Webby Award
Lending Club, a California-based peer to peer lending company, has been nominated for a 2011 Webby Award. The company has been nominated for a Webby Award in the category of banking and bill paying. Lending Club said on its blog that,... More of this article »
Prosper.com Named to Next Big Thing List by Wall Street Journal.
The Wall Street Journal named peer-to-peer lending company Prosper.com as one of fifty companies on its “The Next Big Thing List.” Prosper.com has received several rounds of venture capital funding and has setup more than $220... More of this article »
Naming Names: Judge Alledges JPMorgan Chase (NYSE: JPM) Execs Knew About Madoff
CNNMoney.com is reporting that the federal bankruptcy court judge presiding over the Bernard Madoff case has revealed the JPMorgan Chase (JPM) employees who allegedly suspected they were doing business with a Ponzi schemer. JPMorgan... More of this article »
Bank of America (NYSE: BAC) Posts Lower-than-Expected Earnings, Increases Reserves for Mortgage-Related Costs
Trying to brush aside their unexpected loss at the end of last year, Bank of America (BAC) posted a first-quarter profit Friday. In the report, BAC reported a profit of $2 billion, or 17 cents a share, for the first quarter. That... More of this article »
J.P. Morgan Chase (NYSE: JPM) Offers Mixed Bag in Earnings Report
The good news in J.P. Morgan Chase’s (JPM) first-quarter earnings report came from strong results in their credit card, commercial banking, and asset management businesses. In addition to a first-quarter profit that shattered expectations,... More of this article »
Young adults are savers not spenders
The financial landscape has changed dramatically over the last 10 years and it appears that both the UK and the US are breeding a generation of forward-thinking savers. Recent research by Barclays has shown that almost one third of... More of this article »
JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon Warns Against “Complicated Regulatory” Environment
As chief executive of JPMorgan Chase, you would expect that Jamie Dimon might not be “all in” when it comes to the new financial regulation coming out of Washington. Still, it was a little surprising to hear him launch into what... More of this article »
U.S. Bancorp (NYSE: USB) Says Discount Window Was the Most “Economic Alternative” at Times
In a twist on a phrase, “borrowing” it could be said is in the eyes of the beholder. At least that’s the word coming from U.S. Bancorp (USB). The Federal Reserve has released information regarding which of the nation’s banks... More of this article »