Home » Archive for February, 2010
Treasury Announces Warrant Auction On Bank Of America (NYSE: BAC), Three Others
The Treasury Department announced Thursday that another four auctions have been authorized for the bank warrants attained as part of bailout agreements with U.S. banks. The largest of the four is Bank of America (NYSE: BAC) after... More of this article »
How to Accept Credit Cards in Your Small Business
If you’re going to run any type of retail operation whether it is a bricks and mortar business or an e-commerce website, you are going to need to be able to accept credit card payments from your customers. Even McDonalds and Burger... More of this article »
Wells Fargo Begins Offering E-Mail Receipts for ATMs (NYSE: WFC)
Wells Fargo & Co (NYSE: WFC) is now giving some of its customers a new paperless options for ATM receipts. The company said today that it has begun giving customers an option to have their ATM receipt sent directly to their e-mail... More of this article »
Wells Fargo HAMP Efforts Improve, Doubles Number of Permanent Modifications (NYSE: WFC)
Wells Fargo & Company has more than doubled the number of permanent modifications that it has made under the Home Mortgage Affordability Report (HAMP) during the month of January, according to newly released document from the company. The... More of this article »
Pending Ruling Over Bank of America (NYSE: BAC) Disclosures Puts SEC and Attorney General Cuomo at Odds
What did he know? When did he know it? And why was he fired? Those are the questions U.S. District Judge Jed S. Rakoff will ponder regarding the circumstances surrounding the firing of former Bank of America (BAC) general counsel Timothy... More of this article »
Citibank Counterfeiting Attempt Shows Fake Cash Still a Problem (NYSE: C)
A New York City woman was arrested on Wednesday after police said that she attempted to deposit 19 counterfeit $100 bills into her Citibank (NYSE: C) checking account at the company’s Franklin Square Branch in Brooklyn. The woman,... More of this article »
Bank of America (NYSE:BAC) Names Paul M. Donofrio to Head Global Corporate Banking Unit
On the heels of the announcement that former Global Corporate Banking leader Cathy Bessant was promoted to head up the Global Technology and Operations unit of Bank of America (NYSE:BAC), the company revealed that her replacement would... More of this article »
Citibank’s Citi Property Investors Sale Hits Last Minute Setback (NYSE: C)
The sale of Citi Property Investors, the Citibank’s (NYSE: C) real estate asset management arm, has hit a major setback after some of the unit’s clients refused to give their blessing to a sale. Currently the U.S. federal government... More of this article »
Hedge Funds Go On Citigroup (NYSE: C) Buying Spree In Q4
More than 100 hedge funds snatched up shares of Citigroup (NYSE: C) during the fourth quarter of 2009, with large well-known names like George Soros, Eric Mindich and John Paulson purchasing nearly a half billion shares in the bank. The... More of this article »
J.P. Morgan (NYSE:JPM) Defending Against Billionaire Len Blavatnik’s Lawsuit over $98 Million Trading Loss
There’s a lot more at stake with J.P. Morgan (NYSE:JPM) than the lawsuit by billionaire Len Blavatnik over a $98 million trading loss with the company, which he claims resulted from the bank not following his investment guidelines,... More of this article »
Wells Fargo (NYSE:WFC), Citigroup (NYSE:C) Targets of Large Institutional Investor
With the banking industry beaten down over the last couple of years, institutional investors are circling like vultures to find financial institutions that have a lot of upside potential, and a couple of major banks on the radar of... More of this article »
Brokers At Bank Of America (NYSE: BAC), Wells Fargo (NYSE: WFC) And Morgan Stanley (NYSE: MS) Head For Exits In January
More than 2,000 brokers switched firms or went to independent brokerage houses in January, the highest number of movement in six months. Several big banks saw brokers head for the exit, including Morgan Stanley (NYSE: MS), Bank of... More of this article »
Paul Donofrio Named New Head of Global Corporate Banking at Bank of America (NYSE: BAC)
Paul Donofrio has been named the new head of Bank of America Merrill Lynch’s (NYSE: BAC) global corporate and investment banking . Mr. Donofrio will replace Cathy Bessnat, who has been named the company’s new global technology... More of this article »
Wells Fargo (NYSE: WFC) Has Highest Consumer Satisfaction among Big Banks, JP Morgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC) Slipping on Customer Service, Says Survey
Wells Fargo & Co (NYSE: WFC) ranks highest in consumer satisfaction compared to its large-cap bank peers according to a new study. The San Francisco-based bank, which is one of the largest banks in the nation, saw its customer... More of this article »
Banking Reform May Cost $221 Billion, Lloyds (LON: LLOY) and Royal Bank of Scotland (LON: RBS) Face Highest Cost, Warn JP Morgan Analysts (NYSE: JPM)
Large banks will need an extra $221 billion worth of capital and may see their profits decline by $110 billion if all of the proposed industry reforms are brought into effect, hitting nationalized banks such as Lloyds Banking Group... More of this article »
Paulson Hedge Fund Increases Citigroup (NYSE: C) and SunTrust Banks (NYSE:STI) Holdings, Sells off Bank of America (NSE: BAC) Position
Paulson & Co, the hedge-fund firm run by billionaire John Paulson, increased its ownership share in Citigroup Inc (NYSE: C) and SunTrust Banks (NYSE: STI) and sold shares in Bank of America Corp (NSE: BAC) during the fourth quarter. Paulson... More of this article »
Bank of America (NYSE:BAC) Claims Four Times the Number of Permanent, Modified Mortgages
Bank of America (NYSE:BAC) says it has now increased the number of permanent modified mortgages under the Home Affordable Modification Program (HAMP) to the tune of four times the number from the month before, now totaling a combined... More of this article »
JP Morgan Announces Purchase of Commodity Trading Business from Royal Bank of Scotland and Sempra Energy (JPM, RBS, SRE)
The nation’s second largest bank, JP Morgan Chase (NYSE: JPM), will grow in size after purchasing part of a commodity trading business that is currently owned by San Diego-based Sempra Energy (NYSE:SRE) and the Royal Bank of Scotland... More of this article »
Wells Fargo (NYSE:WFC) Tops Large Banks in Customer Service Scores
According to the annual American Customer Satisfaction Index, Wells Fargo (NYSE:WFC) has topped all the largest banks in America for customer satisfaction, it recently revealed. Year-over-year Wells enjoyed an increase in their customer... More of this article »
Will Citibank (NYSE:C) Be Left Holding Morgan Stanley’s (NYSE:MS) Japanese Hotel Debt?
Morgan Stanley (NYSE:MS) owes its creditors about $2.4 billion in relationship to the Japanese Hotel chain they acquired, and the debt owed is due in April 2010. Citigroup (NYSE:C), along with Japan-based Shinsei Bank, are the largest... More of this article »
Top Executives at Barclays (NYSE:BCS) To Waive 2009 Bonuses, Royal Bank of Scotland (LON: RBS) and Lloyds (LON: LLOY) May Follow
In a move that will place pressure on the rest of London’s banking sector, two top executives at Barclays Corporation (NYSE: BCS), including John Varley and Bob Diamond, have announced that they will forgo their 2009 bonuses. Varley... More of this article »
Lending Club Offering $150 Bonus to Borrowers Looking for Unsecured Personal Loans in February
Peer-to-Peer lending giant, Lending Club, is offering a $150 bonus to borrowers that take out a personal loan through Lending Club through February 28th. Borrowers that take advantage of the offer will have a one-time deposit of $150... More of this article »
Goldman Sachs Warns that China May Strengthen Currency (NYSE: GS)
Although many economists have a watchful eye on the financial situations in countries such as Greece, Spain, Ireland and Italy as Europe’s economic situation continues to face turmoil, Goldman Sach’s (NYSE: GS) Chief Economist... More of this article »