Home » Archive for December, 2009
Citigroup, Inc. (NYSE: C) and Wells Fargo & Co. (NYSE: WFC) Complete TARP Repayments
Wells Fargo & Co. (WFC) and Citigroup, Inc. (C) both repaid the government aid they received under the Trouble Asset Resolution Program (TARP). Although expected, it wasn’t a foregone conclusion that Wells Fargo and Citigroup... More of this article »
Citigroup (NYSE: C) Has Officially Repaid TARP
Today, Citigroup Inc. (NYSE: C) repaid $20 billion in TARP funds it received during the financial crisis, as promised in recent weeks. Last week Citigroup sold common stock to raise the cash it needed to repay the government, and... More of this article »
JP Morgan Chase (NYSE: JPM), Disney (NYSE: DIS) Offer New Disney Rewards Debit Card
JP Morgan Chase (NYSE: JPM) announced Wednesday that its Chase banking unit has joined up with Disney (NYSE: DIS) to offer the Disney Rewards Visa Debit Card. The card joins the family of existing Chase Disney Rewards Visa cards... More of this article »
Wells Fargo (NYSE: WFC) Poised to Benefit From New Home Loan Disclosures
Wells Fargo (WFC) could serve as a litmus test for how banks across the U.S.will deal with the largest changes to home loan disclosures since the 1970s. Even as the housing market shows signs of recovery, banks are having to wrestle... More of this article »
Are Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM), Citigroup (NYSE:C) and Wells Fargo (NSYE:WFC) Good Investment Opportunities?
From a contrarian investment point of view, it seems that Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM), Citigroup (NYSE:C) and Wells Fargo (NSYE:WFC) are at a good place to consider some serious investing in the companies, as there... More of this article »
FDIC’s Need For Capital Putting Pressure on Community Banks
The depletion of funds from the Federal Deposit Insurance Corporation’s deposit insurance fund has left the FDIC with few options, and they consequently decided to rebuild the fund by having banks across the nation pay insurance... More of this article »
President Obama Meets With Community Bankers, Discuss Small Business Lending
Eight members of the Independent Community Bankers of America (ICBA) met with President Obama on Tuesday to discuss concerns over banking regulations that slow the increase in small business lending that the White House so desires. The... More of this article »
Citigroup (NYSE:C) Denies Being Hacked by Russians
Citigroup (NYSE:C) denied a report from the Wall Street Journal which stated they have been the victim of a cyber crime from Russian hackers, which resulted in the of millions of dollars for the company. Responding to the reports,... More of this article »
Commerce Department Reports 2.2 Percent Third Quarter GDP Growth
The Commerce Department released its final revision of third quarter Gross Domestic Product (GDP) on Thursday. According to the report, the U.S. economy grew by 2.2 percent on an annual pace, snapping a streak of four straight quarters... More of this article »
United States Banking Sector Ratings Lowered by Standard & Poor’s Ratings Services, Along with UK Banking
America and the UK have now joined the likes of Austria, Chile and Portugal as countries with banking rankings which place them in group 3, as Standard & Poor’s Ratings Services dropped them to an even lower level than their... More of this article »
New Bank of America (NYSE:BAC) CEO Brian Moynihan Says Execution Key to Turning Things Around at Banking Giant
Incoming Bank of America (NYSE:BAC) CEO Brian Moynihan says the key the the company turning things around and improving is to focus on execution. Moynihan was referring to execution in relationship to their consumer and business customers,... More of this article »
HSBC Holdings (LSE: HSBA.L) Listing on Shanghai Exchange with £5 Billion Share Offer
There is little doubt growth for banks is in the Asian markets, and to that end HSBC Holdings (LSE: HSBA.L) will soon be listed on the Shanghai stock exchange. To start off the bank will initiate a £5 billion share offer to investors... More of this article »
Microsoft (NSDQ: MSFT) CFO Liddell To Become Finance Chief Of General Motors (OTC: MTLQQ.PK)
General Motors (OTC: MTLQQ.PK) announced Monday that it has appointed Chris Liddell as chief financial officer and vice chairman. Liddell, 51, will leave his position as CFO of Microsoft, a role he has held since May 2005. Liddell... More of this article »
Lending Club Performance: How Do Lending Club Loans Perform Over Time?
Investors in Prosper Marketplace have criticized the company for misrepresenting its default rates and average rates of return. Prosper first began offering loans in the tail end of 2006 and investors that funded those early loans... More of this article »
Using Peer-to-Peer Lending Sites to Make Lending to Family Members More Successful
When you loan money to friends and family members, you’re likely never going to see the money again. There’s no consequence to the borrowers’ credit score if they don’t repay the loan and chances are you’re going to be too... More of this article »
Prosper, Lending Club and RaiseCapital.com as a Source for Angel Funding and Venture Capital?
The New York Daily News recently ran an article about how entrepreneurs are increasingly turning to peer-to-peer lending sites such as Prosper and Lending Club and Raise Capital to get funding for their small businesses. The article... More of this article »
Washington Post Goes Hysterical as Ron Paul Tries to Drive Stake into Heart of Federal Reserve
It was enlightening to see the pathetic “editorial” in The Washington Post which attacked the idea the Federal Reserve needs to be reined in, and that an audit of the Fed, as proposed by an amendment introduced by Texas... More of this article »
Have French Made Fools of Britain and Alistair Darling?
Although the move by Britain’s Alistair Darling to tax up to 50 percent of banking bonuses have giving him and the Labour party a small but temporary boost, it increasingly looks like it could end up being a disaster over the... More of this article »
Bank of America Corp’s (NYSE:BAC) New CEO Brian Moynihan Not Looking to Shake Up Top Management
In a recent interview, Bank of America (NYSE:BAC) CEO designate Brian Moynihan stated he isn’t going to do any shuffling at the top of the banks leadership, and is looking to keep things in place at the company in that regard. This... More of this article »
FDIC’s Deposit Insurance Fund Takes Another $1.8 billion Hit With Seven More Bank Closings
With the seven banks seized in the U.S. Friday by regulators, it brought the total for the year to 140, and will cost an estimated $1.8 billion to the FDIC deposit insurance fund, which has been operating in the red already. The seven... More of this article »
Capital One (NYSE: COF) Introduces “InterestPlus” Online Savings Account
Capital One Financial Corporation (NYSE: COF) announced late last week that it added InterestPlus Online Savings to its line of high-yield direct banking products. The savings account currently offers a 1.6 percent annual percentage... More of this article »
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... More of this article »
When Will Citigroup (NYSE:C) Be Able to Remove Government Shackles?
It’s probably worse to have attempted the paying back of TARP funds and to have failed, than to not have tried at all, which is increasingly looking what Citigroup (NYSE:C) should have done. Trying to ride the skirts of Bank... More of this article »