All Posts Tagged With: "Wells Fargo & Co. (NYSE: WFC)"

In a recent study by CardHub.com, Capital One (COF) and Bank of America (BAC) came in first and second in terms of disclosing essential information to consumers on their credit card applications. One of the primary catalysts for the recently passed credit card law (Credit CARD Act) has been the need for greater transparency between [...]

The U.S. economy isn’t recovering fast enough to restore the level of jobs seen before the recession started in December 2007, said John Silvia, chief economist at Wells Fargo & Company (WFC). In an interview with Tom Keene on “Bloomberg Surveillance,” Silvia spoke from Charlotte North Carolina about the second quarter GDP numbers released earlier [...]

Wells Fargo (WFC) CFO Howard Atkins said management was “very pleased” with financial performance. The San Francisco-based bank reported 2nd quarter earnings on Wednesday that were well above Wall Street’s earnings expectations. Revenue came in precisely in line with forecasts. “While economic recovery in the U.S. and abroad remained uneven, Wells Fargo earned record net [...]

Questions still follow JPMorgan Chase regarding their purchase of Washington Mutual in 2008. But they clearly have ideas on leveraging the purchase to expand their reach. Chase has injected a new dose of competition into the Pacific Northwest. They are creating eight new commercial banking teams that will stretch across Washington Mutual’s former footprint. WaMu [...]

I recently read The Quants, a book by Wall St. Journal reporter Scott Patterson. The book talks about the rise, and perhaps fall, of a group of mathematicians and computer scientists turned investment bankers and hedge fund managers. Their specialty was using quantitative statistical analysis and game theory to create sophisticated derivative investments, which relied [...]

Wells Fargo (NYSE: WFC) announced Wednesday that first quarter earnings dipped slightly, down 1 percent, compared to a year ago as mortgage activity slowed and loan losses continued to weigh on results. The bank reported first quarter net income of $2.55 billion or 45 cents a share, down from $3.05 billion or 56 cents a [...]

The Treasury Department announced Monday that it will hold several auctions over the next six weeks to sell of warrants on banks, such as Wells Fargo (NYSE: WFC) that have repaid TARP funds, but did not repurchase the securities.  The move is the latest in continued efforts by the Treasury to recoup taxpayer money. Along [...]

JP Morgan Chase (NYSE: JPM) announced Monday it has joined the government’s second-lien relief program, a program that aims to provide relief on borrower’s “piggyback” loans, an option that was unavailable in previous modification programs.  The program is part of President Obama’s $75 billion loan assistance initiative that is run under the Home Affordable Modification [...]

In June of 2009, CreditSights issued a report that listed SunTrust (STI) and Regions Bank (RF) as the top two franchises in terms of merger attractiveness once banks exited the U.S. government’s Troubled Asset Resolution Program (TARP). “In general, we view the more ‘critical mass’ regional bank franchises such as SunTrust, Regions, and Fifth Third [...]

It’s been said that the definition of insanity is doing the same thing again and again and expecting a different result. We can only hope that all parties involved will move past the current focus on bonuses and bailouts and move quickly to address the needs of small business owners who are still finding it [...]