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Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) Will Fight Financial Reform
Similar to the health care bill, financial reform promises to be a battle as well with giant banks like Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) ready to go to war. The... More of this article »
Prosper Marketplace Has 11 Days to Announce New Funding or May Face Bankruptcy
Last month Prosper Marketplace, a company that offers peer-to-peer loans, received a $2 million bridge loan due on April 1st to cover operating costs while it seeks its next round of venture capital funding. The loan is due in 11 days... More of this article »
People Capital Provided 6 Students with 100,000 in Loans during First Month
Peer to peer lending firm, People Capital, has originated 100,000 in new loans to student borrowers during its first month of operations from five different lenders, with another 45 student borrowers waiting on funding, according to... More of this article »
Fox Business Discovers Peer-to-Peer Lending
Fox Business News recently interviewed Lending Club CEO Renauld Laplanche to discuss the lack of consumer lending on behalf of traditional bricks and mortar banks and discussed how individual investors are taking the place of banks... More of this article »
Goldman Sachs (NYSE:GS) In Long-Term Horizon to Repair its Reputation
It took many years for it to happen, but the collapse of the banking system and resultant recession provided the environment for pent up anger and endless negative press coverage to take its toll on Goldman Sachs (NYSE:GS). And while... More of this article »
Citibank (NYSE: C), Bank of America (NYSE: BAC) and Others to Face Trouble from New Mark-to-Market Rules
The Financial Accounting Standards Board is likely to propose that banks expand their use of market values for financial assets such as loans, impacting up to $2.8 trillion in assets at Citibank (NYSE: C), Bank of America (NYSE: BAC),... More of this article »
U.S. Treasury May Divest itself from Citibank (NYSE: C) Starting Next Week
Citibank (NYSE: C) CEO Vikram Pandit said that he “wouldn’t be surprised” if the U.S. Treasury began winding down its 27% stake in Citigroup beginning next week. The U.S. Treasury owns 7.7 billion shares of the financial giant... More of this article »
U.S. Bancorp (NYSE:USB), New York Community Bank (NYSE:NYB) and PNC Financial Services (NYSE:PNC) Strongest Among Regional Banks Says Fitch
The market seems to have factored in most negative elements in relationship to the major banks, but there is a lot to come this year for regionals, and the strongest of them at this time according to Fitch ratings include U.S. Bancorp... More of this article »
Investors Continue to be Bullish on Goldman Sachs (NYSE:GS)
The populist uprising against Goldman Sachs (NYSE:GS) has done little to deter the bullish attitude of investors toward the company, and they continue to pour money into the financial institution, as confidence they’ll continue... More of this article »
Citigroup (NYSE:C) Shares Continue to Rise
It’s fun watching the Citigroup (NYSE:C) shares rise, as it reminds you of people making huge investments based on nothing but the herd mentality, as Citigroup has nothing happening to it that justifies the stock being bid up... More of this article »
JP Morgan (NYSE: JPM) to Provide Expanded Collateral Management Services to Canadian Government
(Business Wire) JP Morgan Worldwide Securities Services (NYSE: JPM) announced that it has been selected by the Government of Canada to provide an expanded set of collateral management services for derivatives. A derivatives collateral... More of this article »
Former JPMorgan (NYSE:JPM) Cazenove Partner Malcolm Calvert Convicted of Insider Trading
In a somewhat surprising finish to a high-level trial in Britain, former JPMorgan (NYSE:JPM) Cazenove partner Malcolm Calvert was convicted five counts of insider trading. The lawsuit was filed by the Financial Services Authority,... More of this article »
Is Investing in Citigroup (NYSE:C) a Fool’s Game at this Time?
While shares of Citigroup (NYSE:C) have had a nice upward swing lately, reaching its 2010 high of $3.81, and up by about 12 percent over the last several days, it seems a rather irrelevant event in my opinion, and nothing in the fundamentals... More of this article »
Union Pension Fund Sues Goldman Sachs (NYSE:GS)
The pension fund of the International Brotherhood of Electric Workers has sued Goldman Sachs (NYSE:GS), claiming the company paid their executives too much money, and are seeking to recover some of it for their shareholders. This isn’t... More of this article »
What to Know When Searching for a Personal Loan Online
If you are in need of borrowing some money to make a major purchase or take care of an unexpected expense, you have a number of options, both online and off. You could walk down to your local bank or credit union and ask if they would... More of this article »
Wells Fargo (NYSE:WFC): HAMP a Disaster
In view of the disaster HAMP has become, Wells Fargo (NYSE:WFC) was recently asked by president of NAB Research when the program would end for them, considering they have about 15,000 people working on and in it. Nancy Bush, the NAB... More of this article »
Centennial Bank, Waterfield Bank, Sun American Bank and Bank of Illinois Shutdown by Federal Regulators
Centennial Bank, Waterfield Bank, Sun American Bank and Bank of Illinois were shut down by federal regulators on Friday, pushing the number of bank failures to 26 for the year of 2010. The Federal Deposit Insurance Corporation (FDIC)... More of this article »
Prosper Marketplace Loan Origination Growth Rate Slowing
Peer-to-Peer Lending Company Prosper Marketplace saw a decline in the amount of new loans that the company is originating for the second consecutive month during February. Prosper Marketplace issued a total of $1.7 million in new loans... More of this article »
$7.5 Million in New Loans Originated by Lending Club in February
Lending Club, a U.S. based peer-to-peer lending company, originated $7.5 million in new loans during the month of February and now has funded more than $91 million worth of peer-to-peer loans to consumers. Lending Club’s loan growth... More of this article »
Citigroup (NYSE:C) Hearing: “There is No Too Big to Fail”
After laying into Vikram Pandit about the size of Citigroup (NYSE:C) yesterday, and the need to take steps to shrink the company down to levels where they aren’t a hazard to the rest of the country, it got even more interesting.... More of this article »
U.K to Collect £1 Billion in Bonus Taxes from U.S. Banks including Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM) and Morgan Stanley (NYSE: MS)
Major U.S. banks including Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM) and Morgan Stanley (NYSE: MS) will be paying up to £1 billion to the British treasury as part of the country’s banking bonus tax. A new survey from... More of this article »
U.S. Treasury Wants Out of Citibank ASAP (NYSE: C)
The United States Treasury wants out of its investment in Citibank (NYSE: C) as soon as it can be done in an orderly manner, said Assistant Secretary of the Treasury for Financial Stability Herbert Allison during a hearing related... More of this article »
Funding Circle Raises $1.1 Million to Build Social Lending Platform for Small Business Loans
Funding Circle, a U.K. based start-up, has raised $1.1 million worth of Series A circle to complete building its social lending platform for small business loans and plans on launching during Q2 of 2010. The service that Lending Circle... More of this article »