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 lot [...]
All Posts Tagged With: "Banking Fees"
Banks Targeting Debit Cards for Additional Revenue Stream
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 is [...]
Banks Looking Toward Debit Card Loyalty Programs to Generate Revenue – Should Small Business Cooperate?
For a growing number of banks, their debit cards provided to customers may become the new credit card, as far as generating revenue, as regulations will cap what a bank can make on credit cards soon, forcing banks to look elsewhere for revenue.
For the first time this year debit card expenditures outpaced credit card expenditures, [...]
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 most [...]
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 them [...]
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 [...]
October 21st, 2009 | Gary | Comments | Continued
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 handling [...]
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 [...]
October 17th, 2009 | Gary | Comments | Continued
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 began [...]
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 in [...]
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 other [...]
Discover Card just told me that they are not allowing any balance transfers on any accounts right now. 
Does everyone realize that Citibank owns almost all the credit card divisions of gas card companys and dept. stores including ...
I thought the goal was to increase capital, who would want to lend in this environment of 10% unemployment and ...