All Posts Tagged With: "Banking Fees"
Peer To Peer Lending Sites Continue To See Increased Growth In 2011
The peer to peer lending model was born of the belief that traditional banking institutions are charging too much due to many levels of bureaucracy and overhead costs for the institutions. Individuals with less than stellar credit are offered punishing interest rates or denied credit altogether and credit card companies across the board increased credit [...]
Alternatives To Traditional Banking Offered By Eager Online Entrepreneurs
A growing number of online startups are beginning to use technology to offer services previously limited to banking institutions. Now these startups are offering the same or similar services at lower prices because of lower overhead and staffing costs. One of the largest of these new companies is Prosper, a peer to peer lending exchange [...]
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 Department allows the company to charge a management fee for assisting in the sale of Citigroup [...]
Banks Targeting Debit Cards for Additional Revenue Stream
With the Credit Card Accountability, Responsibility and Disclosure (CARD) Act to be instituted in February 2010, banks are starting to look at other revenue streams, as over the long term revenue from credit cards will be a smaller part of their overall business than in the past. It isn’t a stretch to understand there’s a [...]
JPMorgan (NYSE:JPM) Heads Equity Capital Market (ECM) Rankings, Generating $2.2 Billion in Fees
In good news for JPMorgan Chase (NYSE:JPM), they almost doubled their fees generated from equity capital market (ECM) underwriting, as the company enjoyed an estimated $2.2 billion in revenue from the business. Equity capital markets refer to underwriting and selling the stock of a company, a very lucrative part of the investment banking business. This [...]
Bank of America (NYSE:BAC) and Citibank (NYSE:C) Checking Account Fees Reveal Folly of Government Interference
There are always unintended consequences to government interference in the marketplace, and that’s no exception with the banking industry, as recent fees were added to checking accounts at Bank of America (NYSE:BAC) and Citibank (NYSE:C) in order to make up for lost income from recent government regulation added to the industry. Unfortunately, consumers, for the [...]
First Bank of Wal-Mart (NYSE:WMT) Rising Out of the Banksters Ashes?
It’s too bad Wal-Mart (NYSE: WMT) wasn’t allowed to enter into the banking industry, as it would have quickly shown the other poorly-run banks how to do it right and for far less. In 2007 Wal-Mart has applied for a banking charter and was refused after the banking industry lobbied the government to not allow [...]
Class Action Lawsuits Filed Against Bank of America (NYSE:BAC), Wachovia (NYSE:WFC), U.S. Bank (NYSE:USB), JPMorgan Chase (NYSE:JPM) and Citibank (NYSE:C) Over Overdraft Fee Policies
It was inevitable in the current economic climate and banking bailouts that consumers would vent their anger toward the banks on anything that frustrates over doing business with them, and that’s the case with a series of class action lawsuits filed against Bank of America (NYSE:BAC), Wachovia (NYSE:WFC), U.S. Bank (NYSE:USB), JPMorgan Chase (NYSE:JPM) and [...]
Next Bank Failure will be No. 100 this Year – FDIC Will Operate in Red through 2012 at Least
The Federal Deposit Insurance Corp. and the government have been dreading the eventual failure of bank No. 100 this year, as the unwanted milestone is a negative psychological barrier which reminds the American people that the recession isn’t close to being over, no matter what the mainstream media lapdogs assert and parrot. As far as [...]
Bankers Continue to Fight Honest Home Loan Disclosure Closing Costs
In the battle to provide home loan estimate costs that closely reflect the reality at closing, major banking groups like the Mortgage Bankers Association, American Bankers Association, the American Escrow Association, the American Financial Services Association and the Consumer Mortgage Coalition, sent a strong letter to Housing and Urban Development Secretary Shaun Donovan saying they [...]
Wells Fargo (NYSE:WFC) Raising Credit Card Interest Rates 3 Percentage Points Before New Limits Put in Place
Wells Fargo & Co., of which Warren Buffett has a large stake via his Berkshire Hathaway (NYSE:BRK.A) holding company, has decided to raise its interest rates on credit cards by 3 percentage points before the upcoming rules are put in place, which will limit credit card rates when they are put into effect. Wells Fargo [...]
Citibank Declares 30-Day Payment Holiday to Philippine Customers
For the first time since it has had a presence in the Philipines, Citibank (NYSE:C) has declared a 30-day payment holiday for it Citibank Savings personal loan borrowers, as well as those holding credit cards with the bank who live in the Philippines. This was in response to Tropical Storm “Ondoy,” which has wreaked havoc [...]
JPMorgan Chase (NYSE:JPM) Tops in Debt and Equity Underwriting Fees
Although mergers and acquisitions have plunged in the third quarter, which has resulted in the decline in banking fees, one bright spot for JPMorgan Chase (NYSE:JPM) & Co has been the success in raising capital for debt and equity, which has led them to solid underwriting fee revenue for the third quarter. Ahead of all [...]
JP Morgan Chase Launches its Chase Blueprints to Help with Financial Management
JP Morgan Chase (NYSE:JPM) has released it Chase Blueprint initiative via its Chase Card Services unit, which is built to help consumers better manage their personal finances. What Chase Blueprint empowers a Chase customer to do is have access to two pay options called “full pay” and “split” option. With full pay the customer pays [...]
The Financial Insanity of Government, Banking, and Moral Hazard
While the mainstream press falls all over itself to continue the mantra of the banks and other huge businesses having to been bailed out by the government, the reality is we’ve been placed in a much worse position now than before the crisis, in what is called moral hazard. Moral hazard, in the case of [...]
Quaint notion, but the only thing i fear more than the Fed is whatever monstrocity replaces it. As for transparency, ...
All their employees getting laid off with no chance of getting called back in Middlebury Indiana sure don't see any ...
What is wrong with this picture. Everyone has a price of $14-15, but these clowns come out with $4-5. ...