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Citigroup (NYSE: C) Reaches $20.5 Billion Agreement to Pay Back TARP
Stating that it was in “a position to support the economic recovery,” Citigroup (C) Chairman and Chief Executive Vikram Pandit formally announced its agreement with the Treasury Department to exit the Troubled Asset Relief Program... More of this article »
U.S. Bancorp (NYSE: USB) seeking new opportunities with credit card portfolio
According to Reuters, U.S. Bancorp (USB) sees new opportunities with their credit card portfolio even as the credit card industry as a whole crumbles under the weight of record losses and tight regulation, Unlike rivals struggling... More of this article »
Citgroup, Inc. (NYSE: C) and Wells Fargo & Co (NYSE: WFC) At Odds with Fed over Tarp Repayment
Officials at Citigroup, Inc. (C) and Wells Fargo & Co (WFC) are in intense discussions with the U.S. government over the scope of capital requirements the banks would need to exit the Troubled Asset Relief Program (TARP). At issue... More of this article »
Morgan Stanley (NYSE: MS) Takes First Step to Building Securities Platform in China
In a first step towards forming a new joint venture to tap China’s domestic securities market, Morgan Stanley (MS) has shortlisted bidders in an attempt to sell its 34.3% stake in China International Capital Corp. (CICC). As reported... More of this article »
Is a Tobin Tax in Store for Large Banks Goldman Sachs (NYSE: GS), Citigroup Inc (NYSE: C) and Bank of America (NYSE: BAC)?
The phrase “too big to fail” may get retired in 2010, but for banks such as Goldman Sachs (GS), Citigroup Inc. (C) and Bank of America (BAC), they may face a new round of punitive legislation to deal with the political fallout. According... More of this article »
SunTrust, Inc. (NYSE: STI), Wells Fargo (NYSE: WFC), and Regions Financial (NYSE: RF) tout loyalty programs to increase revenue
Earning miles with Delta Air Miles with a travel debit card from SunTrust (STI). Wells Fargo (WFC) will let you apply reward points towards a home equity loan. And Regions Financial’s allows you to earn 4% cash back on downloads... More of this article »
Capital Injections to Bank of America (NYSE: BAC) and Citigroup (NYSE: C) Under Scrutiny as TARP Losses Increase
Huge capital injections to giant banks such as Bank of America Corp. (BAC) and Citigroup Inc. (C) are coming under even closer scrutiny as taxpayers are at risk of losing $5.1 billion invested in the Troubled Asset Relief Program (TARP). In... More of this article »
Bank of America (NYSE: BAC) Board Face Difficult Decision in Naming Successor for Lewis
In a report by the Wall St. Journal, directors at Bank of America Corp. (BAC) are looking at a Thanksgiving deadline on whether to endorse a succession plan by outgoing CEO Kenneth Lewis. In light of the bank’s current problems stemming... More of this article »
Attempt to Sell Primerica Highlights Challenge of Restructuring at Citigroup Inc. (NYSE: C)
In a much expected move, the Wall Street Journal reported that Citgroup Inc. (C) released plans to spin off its Primerica Inc. Life-insurance and mutual fund sales unit. The move, which will undoubtedly be cheered by regulators, signals... More of this article »
J.P. Morgan Chase (NYSE: JPM) Coming Soon to a Gym Near You?
In what some are describing as a 21st century, “Morganization”, J.P. Morgan Chase (JPM) is being forced to take ownership in bankrupt companies, including health club Bally Total Fitness Holding Corp., to salvage the value of their... More of this article »
Capital One Financial Corp (NYSE: COF) Leads the Way as Investors Shift Focus to Earnings Power
A recent analysis by investment bank Keefe, Bruyette & Woods Inc, reported third-quarter core pretax, pre-provision earnings rose slightly from the second quarter. Capital One Financial Corp. (COF) topped the list with a 5.58%... More of this article »
Uncertain Commercial Lending Losses Could Make 2010 a Scary Year for Wells Fargo (NYSE: WFC), Citigroup Inc (NYSE: C) and Bank of America (NYSE: BAC)
Although the projected surge in commercial loan defaults is expected to be felt largely by regional and community banks, some experts say big banks including Citigroup (C), Bank of America (BAC), and Wells Fargo (WFC) may not be immune... More of this article »