Home » Archive for November, 2009
Dubai Seeking Options Amidst Debt Collapse, Banks Await
Dubai is scrambling. Earlier this week, news broke that Dubai’s World Fund is on the brink of default on its massive debt, which sent bank stocks sinking as investors worried about potential exposure. Now, we learn that the ruler... More of this article »
Lending Club States and Prosper States: What States Peer-to-Peer Companies Operate in
Peer-to-peer lending companies, such as Prosper and Lending Club, must comply with regulations regarding commercial lending in each state that they operate in. For this reason, Lending Club and Prosper don’t operate in all 50 states... More of this article »
Understanding the Peer-to-Peer Lending Business, How Lending Club and Prosper Make Their Money
Traditional commercial banks make their money by borrowing money from savers and then lending it out at higher interest rates than they are paying to savers. Peer-to-peer lending companies also provide savings-like and lending opportunities,... More of this article »
Peer-to-Peer Lending Sites and Companies Operating in the United States
The fledgling industry of peer-to-peer lending has grown dramatically in the last couple of years. Companies like Prosper, Lending Club and others have gained national exposure and the amount of loans that these peer-to-peer lending... More of this article »
New Rules Pass Regulating Conflict of Interest for Regional Federal Reserve Board of Directors
New rules were put into place to better handle conflicts of interest in regard to the board of directors of the 12 regional Federal Reserve banks. The new rules were put into immediate effect. Much of this impetus behind the rules... More of this article »
Bank of America Corp (NYSE:BAC) Requests Dismissal of Investor Class-action Lawsuit
Bank of America Corp (NYSE:BAC) seeks the dismissal of a class-action lawsuit filed by investors against the nations’ largest bank as measured by assets, saying there was nothing to the alleged hiding of data concerning the losses... More of this article »
Federal Reserve Wants Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to Submit TARP Repayment Plans
It seems the Federal Reserve has had mounting pressure to pressure banks like Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to submit repayment plans concerning the TARP funds they received. Along with the... More of this article »
FDIC Problem Bank List Surges to 552
In a report from the FDIC that the Deposit Insurance Fund has been operating in the red since the third quarter, down by $8.2 billion, there was other bad news, as the number of banks on the problem list of the FDIC has now risen to... More of this article »
Europe Bank Stocks Sink on Dubai Debt Exposure
In recent years, few economic stories have been as compelling as the growth in Dubai. Dubai, a prominent Middle East city-state had enjoyed significant expansion in GDP and employment, bucking the trends exhibited in the US and Europe.... More of this article »
Wells Fargo (NYSE: WFC) and Others Continue to Slash HELOCs
Wells Fargo & Co (NYSE: WFC) and other major banks have been continuing to cut or reduce home equity lines of credit because they are frightened that consumers will default, and it seems that the problem of banks cutting credit... More of this article »
Charles Schwab (NYSE: SCHW) Offering New Line of Commission Free Exchange Traded Funds
Charles Schwab has begun offering a new line of exchange traded funds that do not require the buyer to pay any sort of commission. Exchange traded funds work essentially the same way that mutual funds do, in that you and other individuals... More of this article »
How Lending Club Works
Peer-to-peer lending companies have been operating in the United States for about three years now. Companies such as Prosper.com and Lending Club are providing loans funded by individuals as an alternative to borrowing from banks in... More of this article »
Peer-to-Peer Business Loans: How to Get Capital for Your Company
If you have a small business and need some operating capital or capital to expand your small business, it can quite often be very difficult to find funding. Typically funds from angel investors or from venture capitalist require a... More of this article »
How to Use Peer-to-Peer Student Loans to Pay for College
With the amount of available credit in the United States shrinking dramatically over the last year, banks have become much more selective about what type of loans they are willing to provide. Private student loans were one of the first... More of this article »
Credit Cards Delinquency Rates Drop Unexpectedly
The credit card industry is highly cyclical, and American consumers in particular have become increasingly depending on using credit cards as a source of liquidity. The rate at which consumers pay these credit cards are an important... More of this article »
Federal Reserve Wants Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to Submit TARP Repayment Plans
It seems the Federal Reserve has had mounting pressure to push banks like Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to submit repayment plans concerning the TARP funds they received. Along with the three... More of this article »
FDIC Problem Bank List Surges to 552
In a report from the FDIC that the Deposit Insurance Fund has been operating in the red since the third quarter, down by $8.2 billion, there was other bad news, as the number of banks on the problem list of the FDIC has now risen to... More of this article »
Federal Reserve Minutes Detail Gov’t Liquidity Programs, State of Economy
The Federal Reserve released the minutes from its last Federal Open Market Committee meeting held on September 22. Comments leaned toward an improving economy with improving retail sales and stabilizing unemployment. The report listed... More of this article »
Loan Portfolios Weighing Down Bank Performance
Although the recession has technically ended and the financial markets have stabilized, that does not necessarily mean the banks are out of the woods just yet. The banking industry is now facing the next wave in the storm, souring... More of this article »
Citibank (NYSE: C) Ends 28-Year Relationship with Diners Club, Sells to Bank of Montreal (NYSE: BMO)
Citibank (NYSE: C) is ending its 28-year-old ties to the world’s first credit card, Diners Club, by selling the unit to the Bank of Montreal (NYSE: BMO). The sale of Diners Club to Bank of Montreal for an unspecified price will reduce... More of this article »
Is a Tobin Tax in Store for Large Banks Goldman Sachs (NYSE: GS), Citigroup Inc (NYSE: C) and Bank of America (NYSE: BAC)?
The phrase “too big to fail” may get retired in 2010, but for banks such as Goldman Sachs (GS), Citigroup Inc. (C) and Bank of America (BAC), they may face a new round of punitive legislation to deal with the political fallout. According... More of this article »
Deposit Insurance Fund in Red by $8.2 Billion
As of the end of the third quarter, the Deposit Insurance Fund, the fund that backs up the guarantee that deposits in bank are secure up to $250,000, has dropped into the red to the tune of $8.2 billion. This is no surprise, as the... More of this article »
UBS (NYSE: UBS) Ratings Cut, Strength Questioned
On Thursday, Moody’s Investors Service cut various ratings on UBS (NYSE: UBS), citing significant challenges the company continues to face, in both the Investment Banking and Wealth Management businesses. This cut comes at a... More of this article »