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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 »
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 »
Bank of America (NYSE:BAC), Citibank (NYSE:C), Wells Fargo (NYSE:WFC) Continue to Hold Back on Lending
One wise way to see how the state of things really are in almost any area of life is to not only listen to what is being said, but look what is being done. In the case of lending by big banks like Bank of America (NYSE:BAC), Citibank... More of this article »
Wells Fargo (NYSE:WFC) Sued by California Earthquake Authority Over Derivative Losses
It seems a new lawsuit is filed almost every day against financial institutions over their offering of derivatives to clients. Wells Fargo (NYSE:WFC) is the latest recipient of this type of lawsuit, as the California Earthquake Authority... 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 »
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 »
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 »
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 »
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 »
J.P. Morgan (NYSE:JPM) Sole Underwriter of Air India $1.1-billion Bridge Loan Refinance
J.P. Morgan (NYSE:JPM) has become the sole underwriter of a loan which replaces a bridge loan from Standard Chartered, originally used for the purpose of Air India acquiring new planes for its fleet. The bridge loan refinanced was... More of this article »
J.P. Morgan (NYSE:JPM) to Announce Acquisition of Energy Business From RBS Sempra
J.P. Morgan (NYSE:JPM) could announce as early as today that they had come to an agreement to acquire some of the energy assets owned by Royal Bank of Scotland and Sempra Energy. Details of which parts of the energy business will be... More of this article »
Citibank (NYSE:C) Hiring in Australia to Rebuild Research Business
During the height of the economic crisis financial institutions like Citibank (NYSE:C) cut back on their staff, especially on the investment research aspect of the business in order to focus on surviving and strengthening their foundations.... More of this article »
Why Are We Even Talking about ‘Volcker Rule’ and Goldman Sachs (NYSE:GS) and More?
In what looks like a last ditch effort to bring the dead ‘Volcker Rule’ back to life, the government keeps parading out the former Federal Reserve chairman in attempts to keep it as part of the conversation, the most recent time... More of this article »
Former Bank of America (NYSE:BAC) and Wachovia Executives Raising Money to Scoop Up Failed Banks
In an attempt to buy up the growing number of failed banks, executives who used to work for Bank of America (NYSE:BAC) and Wachovia are trying to raise $1 billion to acquire them from the Federal Deposit Insurance Corp. (FDIC), according... More of this article »
Goldman Sachs (NYSE:GS) Has Contrary View on Federal Reserve Priorities
There are two major priorities the Federal Reserve is facing, and how they enact deal with them will have a lot of impact on business and consumers. Goldman Sachs (NYSE:GS) has the view that the Fed will increase interest rates rather... More of this article »
Will Credit Card Lawsuit Against JPMorgan (NYSE:JPM) Expand to Class-action Status?
J.P. Morgan (NYSE:JPM) has a lawsuit filed against it from a former credit card customer which seeks class-action status for the raising of interest rates even after a customer closed his account with them. According to the complaint,... More of this article »
Citibank (NYSE:C) Offering Foreclosure Help Through CitiMortgage Unit
Not all foreclosure help is in the form of saving the home for the mortgage holders, and in the new pilot program offered by Citibank through its CitiMortgage are, they are offering other forms of help which will not only save money... More of this article »
JPMorgan (NYSE:JPM) May Land Spanish Port Business from ACS
An infrastructure fund of J.P. Morgan (NYSE:JPM) is reportedly close to a deal to acquire the port business from ACS subsidiary Dragados SPL, according to some sources close to the situation. Problems over the port sector are evidently... More of this article »
Forrester Report: Citibank (NYSE:C) and JPMorgan (NYSE:JPM) and Bank of America (NYSE:BAC) Among Least Trustworthy Banks
While most banks haven’t fared too well this year in trustworthiness, according to a Forrester report Citibank (NYSE:C), JPMorgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC) are near the bottom of the list for large banks.... More of this article »
Credit Suisse Group AG (VTX:CSGN) Generates Profits for Fourth Straight Quarter
Credit Suisse Group AG (VTX:CSGN) was able to turn a profit for the fourth straight quarter, as the largest bank in Switzerland as measured by market value enjoyed a good start to their fiscal year, ending on December 31, 2009. As... More of this article »
Treasury Department Looking to Sell Citigroup (NYSE:C) Trust Preferreds
Looking to generate a profit from the junior debt trust preferred of Citigroup (NYSE:C), the U.S. Treasury Department is thinking of selling $2.2 billion worth to get back some of the bailout money the giant bank received from them... More of this article »