Home » Archive for February, 2010
Citibank Disclosure Says Customers Must Provide 7 Days Notice to Make Withdrawal (NYSE: C)
Imagine that you drive up to your bank’s ATM machine hoping to take out some cash, only for it to provide you an error telling you to come back in a week because you must give 7 days’ notice to make a withdrawal. Although the scenario... More of this article »
Federal Home Loan Bank of Seattle Announces 2009 Unaudited Preliminary Operating Highlights
SEATTLE–(BUSINESS WIRE)–The Federal Home Loan Bank of Seattle (Seattle Bank) today announced preliminary unaudited operating highlights for the year ended December 31, 2009, reporting a net loss of $161.6... More of this article »
U.S. Bank (NYSE: USB) Launches Two New Products to Help Companies Streamline Cash Handling Needs
MINNEAPOLIS–(BUSINESS WIRE)–U.S. Bank has launched an enhanced cash vault service called Advanced Cash Credit and Notification solutions. The new solutions include Remote Cash Deposit and the DTS® Tracking... More of this article »
How to Become a Bank: Thoughts on Becoming a Peer-to-Peer Lender
The commercial banking industry has made billions of dollars worth of profit over the years by borrowing money from savers at interest rates between 1% and 5% and loaning the money out to borrowers at interest rates anywhere from 7%... More of this article »
Judge Approves Bank Of America (NYSE: BAC), SEC Settlment Over Merrill Lynch Merger
After months of deliberating and a growing dollar figure, Bank of America (NYSE: BAC) received approval from a U.S. District Judge on a $150 million settlement with the Securities and Exchange Commission, ending a drawn out lawsuit... More of this article »
OneWest Bank Acquires Assets and Deposits of La Jolla Bank
PASADENA, Calif.–(BUSINESS WIRE)–OneWest Bank, FSB entered into a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC) for the acquisition of all of the deposits and certain... More of this article »
First Bank Completes Sale of Chicago Branches (NYSE: FBSPrA)
ST. LOUIS–(BUSINESS WIRE)–First Bank, a Missouri state-chartered bank and wholly owned subsidiary of First Banks, Inc. (“First Banks” or the “Company”)(NYSE: FBSPrA), headquartered in St. Louis,... More of this article »
California United Bank Names David Peskin as Senior VP of Commercial Banking (OTCBB:CUNB)
ENCINO, Calif.–(BUSINESS WIRE)–California United Bank (OTCBB:CUNB) today announced the addition of David Peskin as Senior Vice President, Commercial Banking. “We continue to add high-quality, senior-level people... More of this article »
Texas Gulf Bank Now Offers Business and Consumer Mobile Banking
HOUSTON–(BUSINESS WIRE)–Texas Gulf Bank, an independently owned and operated community bank with seven locations along the Texas Gulf Coast, launched its comprehensive business and consumer mobile... More of this article »
Wells Fargo (NYSE: WFC) Commercial Banking Targeting Wisconsin Growth
Press Release: MADISON, Wis.–As part of its effort to double commercial banking in Wisconsin over the next five years, Wells Fargo & Company (NYSE: WFC) said today that Julia Voss has joined its Commercial... More of this article »
Do Your Own Taxes or Hire a Professional? Wells Fargo (NYSE: WFC) Offers Advice
Many consumers are filing their own taxes this year to save mone in a tight economy. Most surveys indicate that more people are expected to file taxes on their own than ever this year, leaving CPAs and professional prepares to the... More of this article »
Goldman Sachs Predicts 6.4% Economic Growth Rate for Brazil (NYSE: GS)
Brazil’s economy will grow by a higher-than expected 6.4% this year, said Jim O’Neill, chief economist at Goldman Sachs Group Inc (NYSE: GS). O’Neill recently said at a conference in Rio de Janeiro that “We are very optimistic... More of this article »
Bank of America Steps up Loan Modifications under HAMP (NYSE: BAC)
Bank of America (NYSE: BAC) reported an increase in the number of both trial modifications and permanent modifications under the federal government’s Home Mortgage Affordability Program (HAMP) in its latest report. The Charlotte,... More of this article »
Major Banks Accused of Accepting Kickbacks: Citigroup (NYSE: C), JP Morgan Chase (NYSE: JPM), Bank of America (NYSE: BAC)
Some of the nation’s largest banks including Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM) and Citigroup’s Citi Mortgage division (NYSE: C) have been accused of finding unethical ways of making money from distressed... More of this article »
Four More Bank Closures Make it 20 So Far in 2010 – Many More to Come
Government regulators shut down another four banks on Friday to bring the total bank failures in 2010 to 20 so far. Banks were shuttered in California, Texas, Illinois and Florida. Last year 140 banks were closed with an estimated... More of this article »
Is Citibank (NYSE:C) Going to Refuse its Customers Their Withdrawals?
Citibank (NYSE:C) has been scrambling to cover its rear-end after a communication they sent out stated it could keep their customers from withdrawing their money for seven days. On a recent statement from Citibank to its customers... More of this article »
J.P. Morgan (NYSE:JPM) Gets Spanked by Judge Rakoff Over Mexican Cable Company Loan
Judge Jed Rakoff has again unleashed some of his obvious dislike for the major banks, this time on J.P. Morgan (NYSE:JPM) which orchestrated a loan for Mexican telecom company Empresas Cablevisión SAB, to the end that it would have... More of this article »
George Soros and John Paulson Invest Heavily in Citigroup (NYSE:C) – Does That Signal a Recovery?
Major hedge fund managers George Soros and John Paulson recently revealed in required filings with the Securities and Exchange Commission that they’ve invested heavily via their funds in Citigroup (NYSE:C) during the fourth quarter... More of this article »
Peer-to-Peer Lending Industry Featured in Dallas Morning News
The Dallas Morning News recently ran an article entitled “Dallas-Fort Worth entrepreneurs find alternative lenders” discussing how some of the city’s lenders were turning to peer-to-peer lending sites to get business loans where... More of this article »
U.S. Bancorp (NYSE: USB) Follows Wells Fargo (NYSE: WFC) Lead On Executive Bonuses
U.S. Bancorp (NYSE: USB) took a cue from Wells Fargo (NYSE: WFC) in the compensation arena, giving its President and CEO Richard Davis a retention bonus in stock that vests over three years. However, a condition that certain performance... More of this article »
JPMorgan Chase & Co (NYSE:JPM) Report on Potential Regulatory Costs Reveals Unintended Consequences of Government Interference
When J.P. Morgan (NYSE:JPM) revealed in its research not recently that it could cost up to $221 billion for banks to comply with the regulations being offered as solutions to the industry, it removed the veil off of the usual unintended... More of this article »
Citibank to Charge $60.00 Annual Fee to Credit Card Holders
Citibank (NYSE: C) has announced that they will be charging many of their credit card holders a new $60.00 annual fee effective April 1st, 2010. The company’s profits and revenue have been eroding as the company sells off portions... More of this article »
Former Citibank (NYSE: C) Executive Kunal Kalmani Joins Bank of America (NYSE: BAC)
Former Citibank (NYSE: C) executive Kunal Kamlani will join Bank of America (NYSE: BAC) next month as the company’s head of investment products and support services for its wealth and investment-management unit. Kamlani will report... More of this article »