Home » Archive for January, 2010
How Does Lending Club Work? An Overview of Lending Club’s Peer-to-Peer Lending Service
A recent study from Gartner suggests that peer-to-peer lending will grow by 66% between now and 2013, so we thought it would make sense to look at the fastest-growing peer-to-peer lending site and explain just how Lending Club does... More of this article »
Citibank (NYSE:C) Extends Mobile Banking Service to Thailand
Reports from Bangkok are Citibank (NYSE:C) has become the first foreign bank to offer mobile services to its customers, providing a suite of services to those always on the go. Dubbed Citi Mobile®, all the perks associated with doing... More of this article »
Financial Crisis Inquiry Commission Set To Interview Top Execs At Bank of America (NYSE: BAC), JP Morgan (NYSE: JPM)
The Financial Crisis Inquiry Commission is set to hold its first public hearing on January 13, where it will interview several CEO’s from the nation’s largest banks. The hearing is aimed at gaining perspective on items that caused... More of this article »
Americans Continue To Slash Credit While Bank Of America (NYSE: BAC) And Citigroup (NYSE: C) Battle Credit Card Defaults
Though many major banks, such as Bank of America (NYSE: BAC) and Citigroup (NYSE: C) continue to report double-digit credit card default rates, Americans have also continued to cut down total credit levels. The Federal Reserve announced... More of this article »
Leveraged-Loan Market Will be Good to JPMorgan Chase & Co. (NYSE:JPM), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) in 2010
Corporate defaults last year reached a total of 189, the most in 29 years, said S&P analyst Diane Vazza, and that has created strong opportunities for a number of banks in 2010, including JPMorgan Chase & Co. (NYSE:JPM), Bank... More of this article »
Bank of America (NYSE:BAC) Cranking Up Bonuses for Investment Bankers
Bank of America (NYSE:BAC) and Brian Moynihan has sent a clear signal to its investment banking brokers that they’re going to take care of them going forward, as bonuses are set to reach the levels they were in 2007 for Merrill... More of this article »
Citigroup (NYSE:C) Report Shows Reduced Fourth-Quarter Profits for Morgan Stanley (NYSE:MS), Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase (NYSE:JPM)
In its 2010 Outlook report, Citigroup (NYSE:C) reduced its profit projections for Morgan Stanley (NYSE:MS), Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase & Co (NYSE:JPM), citing significant reductions in trading by the financial... More of this article »
Horizon Bank of Washington is First Bank Failure of 2010
While the New Year didn’t start off with a bang as far as bank failures go, Horizon Banks’ failure on Friday is the first of what will probably be close to 200 bank failures in 2010; far exceeding the bank failures of 2009.... More of this article »
FDIC Reports One Bank Failure To Start New Year Following The Most Costly Year In History
Following a year of record bank failures, the Federal Deposit Insurance Corporation announced just one bank failure for the first week of 2010. Horizon Bank of Bellingham, WA saw its assets and deposits seized by regulators on Friday... More of this article »
Editorial: Financial Crisis Theater Starring – Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM), and Morgan Stanley (NYSE:MS)
The next production of government sponsored financial crisis theater is set to open this week in Washington DC, and has assembled an all star ensemble cast of Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), JP Morgan Chase (NYSE:JPM),... More of this article »
Limit Leverage or Lending? “Too-Big-to-Fail” Banks J.P. Morgan Chase (NYSE: JPM), Citigroup (NYSE: C) and Bank of America (NYSE: BAC) May Face Statutory Leverage Limits as Part of Congressional Bank-Reform Bill
As part of its campaign to rein in “too-big-to-fail” banks such as J.P. Morgan Chase (JPM), Citigroup (C), and Bank of America (BAC), Republicans and Democrats in Congress are debating a provision that would cap borrowing, or leverage,... More of this article »
Alcoa (NYSE: AA), JP Morgan Chase (NYSE: JPM), Intel (NASDAQ: INTC) To Release Q4 Earnings This Week
A new earnings season will begin on Monday as Alcoa (NYSE: AA), JP Morgan Chase (NYSE: JPM) and Intel (NASDAQ: INTC) are all set to release their critical fourth-quarter earnings this week. Alcoa will begin the earnings season by announcing... More of this article »
Citigroup (NYSE: C) to Place Darren Buckley as Head of Japanese Unit
Citigroup (NYSE: C) will be replacing the current head of its Japanese unit, Douglas Peterson, with Darren Buckley, after Peterson oversaw the sale of many of the company’s assets in the region, according to several sources. Buckley... More of this article »
Defending “Pay For Performance” Bonuses Is First of Many Challenges Facing New Bank of America Corp. (NYSE: BAC) CEO
New Bank of America Corp. (BAC) CEO Brian Moynihan faces an unenviable set of challenges as he seeks to polish a tarnished image and reclaim public trust. Moynihan, who officially took charge on January 1, won’t have to wait long... More of this article »
Former Citigroup (NYSE:C) Executive Goes to Arbitration Over Frozen Severance Pay
I was wondering how long it would take for banking executives to start going after banks over the terms agreed to in relationship to severance packages, and we may be at the beginning of a number of arbitrations and lawsuits in connection... More of this article »
Geithner Led NY Fed Urged AIG (NYSE: AIG) To Stay Mum On Default Swap Payouts With Goldman Sachs (NYSE: GS), Merrill Lynch
According to email messages between American International Group (NYSE: AIG) and the Federal Reserve Bank of New York, the regulator urged the insurance giant to limit public disclosure on payments made to banks, such as Goldman Sachs... More of this article »
Credit Suisse Raises Rating on Bank of America (NYSE:BAC) from “Neutral” to “Outperform”
Credit Suisse raised its rating on Bank of America (NYSE:BAC) from “Neutral” to “Outperform,” saying it was the cheapest stock among all the large-cap banks to invest in. According to the brokerage, Bank of... More of this article »
“Turning an Oil Tanker On a Dime” – Citigroup (NYSE: C) One Year Later
Nearly a year after an unprecedented meltdown in the financial industry, the story of Citigroup (C) continues to be written in, and shape, the financial news. A report on CNNMoney.com shows the financial giant has accomplished a lot... More of this article »
Will Charles Schwab (NASDAQ:SCHW) Trading Fee Cuts Initiate Discount Brokerage Price Wars?
The move by Charles Schwab (NASDAQ:SCHW) to cut its trading fees to $8.95 for each equity trade could precipitate a price war among discount brokerages, who have been struggling in a low interest rate environment. Most existing trades... More of this article »
Citigroup (NYSE:C) Director John Deutch Stepping Down Under Pressure
Although there will be no mention of it from Citigroup (NYSE:C) or John Deutch, the board member for the giant financial institution will not seek re-election to the board this year, as pressures to get people on the board with more... More of this article »
Bank Of America (NYSE:BAC) Set To Pay Bonuses Near 2007 Levels
The Wall Street Journal reported on Thursday that Bank of America (NYSE:BAC) will pay bonuses to its investment bankers at a rate similar to amounts the company paid in 2007. The paper reported that some bankers will get paid roughly... More of this article »
Your Investment Portfolio: Should Peer-to-Peer Loans Be Part Of Your Investment Strategy?
Many investors have learned how tumultuous the stock market can be over the last 24 months and are looking to add alternative investments as part of their portfolios to bring added diversification and hedge against the volatility in... More of this article »
Prosper.com News: What’s Next for Prosper Marketplace
Prosper.com was the first peer-to-peer lending company to gain any significant traction in the United States. The company, along with its primary competitor Lending Club, faced some legal hurdles with the SEC in 2008 and 2009, but... More of this article »