Home » Archive for December, 2009
Goldman Sachs (NYSE: GS) Meets with Investors to Stop Criticism over Record Compensation Packages
Goldman Sachs (NYSE: GS) has started meeting with some of its major investors in an effort to quiet criticism over the record compensation packages that it has paid some of its top executives. These meetings are the first of their... More of this article »
JP Morgan Chase (NYSE: JPM) Preparing New Commercial Mortgage-Backed Security (CMBS)
JP Morgan Chase & Co (NYSE: JPM) have announced that they are developing a new commercial mortgage-backed security, or CMBS concerning Inland Western Real Estate Trust Inc, rating company, according to a statement made by Realpoint... More of this article »
Will Wells Fargo (NYSE: FC), PNC Financial Service (NYSE: PNC) or Citigroup (NYSE: C) Be the Next to Repay TARP Funds after Bank of America (NYSE: BAC)?
Markets were pleased with Bank of America’s (NYSE: BAC) decision to repay its debt to the federal government under the Troubled Asset Relief Program and now analysts are wondering which bank will be the next institution to repay... More of this article »
Bank of America (NYSE:BAC) Reaches Agreement to Pay Back $45 Billion in TARP Funds to U.S. Government
Evidently remaining true to his stated goal of paying back TARP funds before he retired at the end of 2009, Ken Lewis and Bank of America (NYSE:BAC) announced they’ve reached an agreement with the government to pay back the $45... More of this article »
Wells Fargo (NYSE: WFC) CEO Says Banks Are Lending as Much as They Can
Wells Fargo (NYSE: WFC) CEO John Stumpf said on Wednesday that banks are not holding back on making loans in the wake of the global financial crisis. A group of three chief executives including Bank of America CEO Kenneth Lewis, Wells... More of this article »
Abu Dhabi Loses Big on Citigroup (NYSE: C) Investment
Abu Dhabi’s Investment authority is set to face the consequences of an investment deal that it had made with Citigroup two years ago, early in the financial crisis. Under the deal, the United Arab Emirates’ Sovereign Fund will... More of this article »
Institutional Shareholders of Royal Bank of Scotland (LON: RBS) Ready to Battle British Treasury Over Bank Bonuses
After taking control of the bonus pool of the Royal Bank of Scotland (RBS.L), a battle is shaping up between the British Treasury and institutional shareholders in the bank over the effects that could have on the company and its ability... More of this article »
Defaults on US Commercial Property Loans Surging as Expected
Recent reports from a couple of research firms confirm that defaults on US commercial property loans are surging, standing at the worst level in 16 years. The reports also confirm it is going to get much worse going forward into 2010... More of this article »
Bank of America (NYSE: BAC) Announces Plans to Repay $45 Billion in Bailout Funds
Bank of America Corp. (NYSE: BAC), the largest bank in the United States in terms of assets, announced that it will repay the $45 billion of U.S. government bailout funds that it received as part of the Troubled Asset Relief Program... More of this article »
Citibank (NYSE: C) Survey Says Recession Changing South Dakota Consumers’ Behavior
Residents of South Dakota are delaying major purchases, making use of their savings and working more in order to deal with the lingering recession, according to a survey released by Citibank (NYSE: C) this year. The survey that was... More of this article »
Bank of America (NYSE:BAC), Citibank (NYSE:C), Wells Fargo (NYSE:WFC) and J.P. Morgan Chase (NYSE:JPM) Meeting with Obama Administration on Permanent Loan Modifications
Under the threat of being fined, Bank of America (NYSE:BAC), Citibank (NYSE:C), Wells Fargo (NYSE:WFC) and J.P. Morgan Chase (NYSE:JPM), among others, will meet with officials from the Obama administration next week concerning moving... More of this article »
FDIC Study Shows One In Four U.S. Households Are Not Using Banks
The Federal Deposit Insurance Corporation (FDIC) released the findings from its FDIC National Survey of Unbanked and Underbanked Households on Wednesday. Results from the study showed that about one of every four U.S. households... More of this article »
Bank of America (NYSE: BAC) Paying Back Tarp, Finds The Next CEO?
Ken Lewis, the embattled chief executive who is stepping down at the end of this month may have saved his best for last. Bank of America (NYSE: BAC) has taken a major step late today: they have announced that they will repay the $45... More of this article »
JP Morgan Chase (NYSE: JPM) Could Lose $3 billion from Derivatives Rules
Revenue from JP Morgan Chase & Co (NYSE: JPM) could drop by as much as $3 billion if the bulk of its derivative trades move to exchanges, said an analyst at Sanford C. Bernstein & Co. said on Wednesday. The figure that Bernstein... More of this article »
UK Financial Services Authority Probing RBS (LON: RBS) over Compliance with Money-Laundering Rules
Britain’s regulatory agency that oversees financial markets is investigating a claim against some units of the Royal Bank of Scotland Group (LON: RBS) over compliance issues with certain money-laundering related allegations. The... More of this article »
Goldman Sachs (NYSE: GS) and Bank of America (NYSE: BAC) Developing Brazilian Wealth Management Business
Bank of America (NYSE: BAC) is in a major hiring mode as it develops a new wealth management Brazil to compete with a similar effort by Goldman Sachs (NYSE: GS). The United States’ largest bank in terms of assets is setting up a... More of this article »
Wells Fargo offering 4.15% 15-Year Fixed Mortgage Refinance Rates (NYSE: WFC)
Wells Fargo’s mortgage refinance rates have hit another all-time low. Currently borrowers are getting mortgage refinances at 4.15% for 15-year fixed-rate mortgages. 30-year fixed-rate mortgages are at 4.54%, which is just above its... More of this article »
US Bancorp (NYSE: USB), American International Group (NYSE:AIG) and Fifth-Third Bancorp (NYSE: FITB) See Modest Gains after Downgrades from JP Morgan (NYSE: JPM) and Citigroup (NYSE: C) Analysts
Several U.S. financial stocks including US Bancorp, American International Group and Fifth-Third Bancorp overcame weakness in the banking sector on Tuesday to close slightly higher, despite cautionary notes from analysts at both JP... More of this article »
JP Morgan Chase (NYSE: JPM) and Bank of America Merrill Lynch (NYSE: BAC) See M&A Declining in Europe
Both Bank of America (NYSE: BAC) and JP Morgan Chase (NYSE: JPM) saw declining mergers and acquisitions activity in just about every European country with the notable exception of France, which has had more mergers and acquisitions... More of this article »
J.P. Morgan (NYSE:JPM) Says Build America Bond Sales Could Swell by 40% in 2010
Looking for ways to raise money the least expensively, Build America Bonds have become a popular way to raise capital, and according to J.P. Morgan (NYSE:JPM), could increase by 40 percent in 2010, which would bring the total for the... More of this article »
Wells Fargo (NYSE: WFC) To Close 122 Branches In California
A report hit the wires early Wednesday morning that stated Wells Fargo (NYSE: WFC) intends to shutdown 122 of its banking branches in California due to overlaps from the acquisition of Wachovia. The locations being shuttered are... More of this article »
Bank of America’s (NYSE: BAC) Refinance Rates Drop Even Further, Now at 4.55%
Bank of America’s (NYSE: BAC) refinance rates have continued to delve lower as the month of December begins. According to the most recent data, Bank of America’s 30 year refinance rate is currently at an all time low with an... More of this article »
Two CEO Candidates Suggest Breaking Up Bank of America (NYSE: BAC)
At least two candidates for the position of chief executive at Bank of America Corp. (NYSE: BAC) that the giant bank should consider breaking itself up into smaller firms, but board members in charge of the search for a new CEO have... More of this article »