Home » Archive for November, 2009
Wells Fargo (NYSE: WFC) Chief Economist Predicts More Trouble for Housing Market
Wells Fargo’s chief economist, John Silvia, predicts that the housing market in the United States will likely weaken in the months to come. In his most recent economic forecast, Silvia said, “There is no clear, easy way out for... More of this article »
Wells Fargo’s (NYSE: WFC) Mortgage Refinance Rates Hit New All Time Low
Wells Fargo’s (NYSE: WFC)’s mortgage refinance rates have hit new all time lows during the last several consecutive days. The most recent interest rate for a 30 year fixed rate mortgage that has been published is below 4.49%, well... More of this article »
Citibank (NYSE: C) Offers Consumers Lower Credit Card Interest Rates with a Catch
Citibank (NYSE: C) has recently sent out letters to untold numbers of consumers that their credit card interest rates were going to increase, but now the company is offering some of its customers a way to lower the interest rate that... More of this article »
Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM), Citibank (NYSE: C), Wells Fargo (NYSE: WFC) and Other Large Banks Decrease Lending by $157 Billion During 3rd Quarter
According to a new report from the FDIC, Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM), Citibank (NYSE: C), Wells Fargo (NYSE: WFC) have decreased their lending during the 3rd quarter by over $157 billion. Although the federal... More of this article »
State Street (NYSE: STT) Lands $300 Billion Investment Management Deal With Morgan Stanley (NYSE: MS)
The State Street Corporation (NYSE: STT) announced Monday it has agreed to a deal with Morgan Stanley (NYSE: MS) to provide them investment management operations services for about $300 billion in assets under management. As part of... More of this article »
Citigroup (NYSE: C), Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM) Avoid Major Impact from Dubai Debt Problems
U.S. banks, including Citigroup (NYSE: C), Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM), will avoid a major hit stemming from Dubai’s debt problems, because they have a lot less direct exposure than what European banks... More of this article »
Citigroup (NYSE: C) Hires Goldman Sachs (NYSE: GS) Consultant as New Chief Economist Citigroup announced this morning that it has hired Willem
Buiter, who is currently a professor at the London School of Economics and a consultant for Goldman Sachs, as its chief economist beginning in January 2010. Mr. Buiter will take the place of Lewis Alexander in Citigroup’s top economics... More of this article »
Wells Fargo (NYSE: WFC) Offers Customers Fraud Prevention Tips For The Holidays
Wells Fargo (NYSE: WFC) produced a press release last week offering its customers safety tips to help avoid being defrauded during the holiday shopping season. The advice is for both online shopping, along with transactions done... More of this article »
HSBC (NYSE: HBC) Puts Focus Back on Asia for Growth
Although it has had a competitive advantage over its rivals in Asia, especially China, HSBC (NYSE: HBC) has been slow to take advantage of that and instead has focused on Europe and the United States for growth, to the detriment of... More of this article »
Senator Bernie Sanders To Vote Against Renomination of Ben Bernanke
Saying the Ben Bernanke is “part of the problem,” Senator Bernie Sanders said on Sunday that he will definitely vote against nominating Bernanke for a second term as Chairman of the Federal Reserve. The Federal Reserve,... More of this article »
Ben Bernanke Fears Ron Paul’s Audit Above All Else
In a recent and unusual action, Federal Reserve Chairman Ben Bernanke wrote a column in a newspaper, in this case the online version of the Washington Post, which attempted to undermine the legislation initiated by Ron Paul to at minimum... More of this article »
JP Morgan Chase (NYSE: JPM) Increases Holdings of China National Building Material Co (HKG:3323)
JP Morgan Chase & Co has increased its shareholding in China National Building Material Co Ltd, which is Chin’s largest building and materials manufacturer, according to the Hong Kong Exchanges and Clearing Exchange (HKG:0388). Information... More of this article »
Federal Reserve’s Balance Sheet Shrinks $2.4 Billion Last Week
The Federal Reserve released data on Friday that showed a $2.4 billion decrease in its total liabilities for the week prior. However, America’s central bank still has a balance sheet showing liabilities in excess of $2 trillion... More of this article »
Pay Czar Slashes Salaries of Two Key Executives at Bank of America (NYSE: BAC)
Bank of America Corp. (NYSE: BAC) benefited from more than $45 billion in taxpayer bailouts has cut the 2009 salaries of two of its key executives after the U.S. Treasury’s pay czar, Kenneth Feinberg, reviewed the compensation of... More of this article »
Wells Fargo (NYSE: WFC), Bank of America (NYSE: BAC), Citibank (NYSE: C) and Others Hit by New ATM and Debit Card Regulations
Mega-banks including Wells Fargo (NYSE: WFC), Bank of America (NYSE: BAC) and Citibank (NYSE: C) will soon be significantly limited in the amount of gotcha fees that they can charge you when it comes to overdrafts next summer. Typically... More of this article »
Bank of America’s (NYSE: BAC) Mortgage Rates Continue to Decline, 30 Year Fixed Rate Available at 4.49%
Bank of America’s (NYSE: BAC) refinance rate for mortgages have continued to decline and are hitting new record lows. This week, the refinance rate for a 30-year fixed rate mortgage has gone as low as 4.49%, much lower than the weekly... More of this article »
Dubai Finds A White Knight, Banks Stocks to Rebound?
The US financial markets will open tomorrow amidst a flurry of incoming data. First, investors will seek to understand the sales numbers from Black Friday, the unofficial start of the holiday shopping season. Next on their plate will... More of this article »
Obama Administration To Push Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), and Wells Fargo (NYSE:WFC) To Modify More Loans
The Obama Administration is expected to announce on Monday a renewed effort to encourage banks, including Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), and Wells Fargo (NYSE:WFC) to concentrate resources and intensify their effort... More of this article »
Credit Card Solicitations on the Decline, USPS Hurting
As recently as three years ago, there were a total of 8 billion new credit card solicitations mailed out each year to consumers. At the time, it was a major revenue source for the US Postal Service, and now that those numbers have... More of this article »
Lending Club for Borrowers: How to Improve the Likelihood of Getting Your Loan Fully Funded
When you’re looking to get a loan on Lending Club or Prosper as a borrower, you have to create a loan listing and clearly communicate what your needs are for a loan so that it can get fully funded. Many loans do get fully funded,... More of this article »
Lending Club Investment Strategies: How to Select Borrowers that Won’t Default
Funding loans through peer-to-peer lending companies such as Prosper or Lending Club are becoming an increasingly popular alternative investment, but many investors fund loans to borrowers that are likely higher credit risks than you... More of this article »
Bad Credit Peer-to-Peer Lending: Can People with Bad Credit Get a Peer-to-Peer Loan?
Peer-to-peer lending companies, including Prosper and Lending Club, have raised the minimum credit score that it takes to get a loan during the last year and a half making it more difficult for those with bad credit to participate... More of this article »
Lending Clubs: What Is Online Peer to Peer Lending?
During the last 100 years, our idea of borrowing money for a major purchase has largely been narrowed down to getting a loan from a bank in the form of a mortgage, a credit card or another type of loan. There are now a new group of... More of this article »