Home » Industry News
Former JPMorgan Chase (NYSE:JPM) Partner Malcom Calvert Battling Insider Trading Charges
The battle by Malcolm Calvert over charges he was involved with insider trading at the Cazenove unit of JPMorgan Chase (NYSE:JPM) continues in London, as his lawyer communicated to a jury in London that there wasn’t any evidence... More of this article »
Bank of America (NYSE:BAC) CEO Brian Moynihan Will Vote for Barney Frank in Upcoming Election
In a recent television interview, Bank of America (NYSE:BAC) Chief Executive Officer Brian Moynihan stated he will vote for Barney Frank in the upcoming election he faces, saying he liked how he handled both banking and consumer challenges... More of this article »
Wells Fargo (NYSE:WFC) Senior Economist: “Growth is going to be much more dependent on the private sector”
The recent disastrous economic reports for the U.S. Labor Department and Commerce Department confirmed the economy in the U.S. is far from turning around, and in fact the data show it’s struggling to wean itself form government... More of this article »
Debt Consolidation Loans Becoming Increasing Popular on Peer-to-Peer Lending Marketplaces
Borrowers are turning to peer-to-peer lending companies, such as Prosper Marketplace and Lending Club, for debt consolidation loans more than every other type of loan request made, according to new data from Prosper Marketplace. Prosper... More of this article »
Why is Bank of America (NYSE:BAC) Stock Rising?
In light of the ongoing recession and continual bad economic news emerging from the Labor Department and Commerce Department, it’s definitely puzzling as to why Bank of America (NYSE:BAC) has become one of the investment darlings... More of this article »
Prosper Marketplace Takes Steps to Reduce Risk for Peer-to-Peer Lenders
Prosper Marketplace, the peer-to-peer lending company that has originated more loans than any other company in its industry, recently has come under fire for being an investment that is too high-risk and has now outlined what steps... More of this article »
Prosper Marketplace Favors Regulator Changes for Peer-to-Peer Lending
Prosper Marketplace CEO Chris Larsen recently commented on the ongoing development of regulation for the fledgling peer-to-peer lending industry commenting that he favors a holistic regulator that “has the best interests of both... More of this article »
Goldman Sachs (NYSE:GS) Questioned on Build America Bonds Underwriting Fees
Goldman Sachs (NYSE:GS) has come under fire concerning another issue as Senator Charles E. Grassley, the senior Republican on the Finance Committee, asked in a letter to Chief Executive Lloyd C. Blankfein about the underwriting fees... More of this article »
Bank Of America (NYSE: BAC) Warrants May Offer Investors Hearty Return
If returns from past auctions are any hint of what may be made on the Bank of America (NYSE: BAC) warrants being auctioned off in the next month, investors may be lined up at the door. The coming auction will be the largest conducted... More of this article »
Lending Club Launches Redesigned Website
Lending Club, the fastest growing peer-to-peer lending company in the United States, has launched a new version of their website today, featuring a brighter color scheme and a new red and navy logo. Lending Club’s new website features... More of this article »
Federal Reserve Inquiring into Goldman Sachs’ Bets on Greek Debt (NYSE: GS)
Federal Reserve Chairman Benjamin Bernanke said on Thursday that the Securities and Exchange Commission is inquiring into Goldman Sachs’ (NYSE: GS) and other firms’ user of investment instruments to profit if Greece defaults on... More of this article »
Wells Fargo (NYSE:WFC) Looking to Investment Banking Unit for Growth
With a lot of past revenue and profits being dried up through new government regulations, major banks are looking for other sources of revenue, and with Wells Fargo (NYSE:WFC), like many other major banks, investment banking could... More of this article »
Bank of America (NYSE:BAC), Citibank (NYSE:C) and J.P. Morgan (NYSE:JPM) Looked to as Lending Plunges at Banks
As reports come in that bank lending is at its lowest levels in decades, the major banks like Bank of America (NYSE:BAC), Citibank (NYSE:C) and J.P. Morgan (NYSE:JPM) are being pressured to take up some of the slack left from struggling... More of this article »
J.P. Morgan (NYSE:JPM) Says Increased Regulation Could Crush Revenue in 2010
As lawmakers continue to interfere with the market and banks, it is becoming increasingly clear that large financial institutions like J.P. Morgan (NYSE:JPM) and its shareholders will suffer revenue and profit declines as a consequence... More of this article »
Prosper Marketplace May Build Student Loan Peer-to-Peer Lending Product
Peer-to-peer lending company, Prosper Marketplace, has hinted that it may build a peer-to-peer lending product targeted specifically at student loans, following in the footsteps of Fynanz and People Capital. During a recent interview... More of this article »
Peer to Peer Lending Companies Partner with Online Retailers
Peer to peer lending companies are now turning to partnerships with online retailers to further growth as future growth from natural loan demand is beginning to slow. The first company to make such a partnership was Prosper Marketplace... More of this article »
Bank of America (NYSE:BAC) Finally Gets Approval for SEC Settlement
U.S. District Judge Jed S. Rakoff has been unusually antagonistic toward Bank of America (NYSE:BAC) in their attempt to settle a lawsuit from the Securities and Exchange Commission (SEC) over allegedly not fully disclosing bonuses... More of this article »
Rising Bank Failures Bad Sign for Bank of America (NYSE:BAC), Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC)?
The news keeps getting worse for the banking industry, as recent data released show that it isn’t just the expected commercial loans that are faltering, but the number of foreclosures are finally being reported in a way that... More of this article »
The Differences Between Credit Unions And Financial Institutions
With the business market building back up today as it recovers from the latest financial downpour, there are many reasons why individuals will question where it may be better to keep your hard-earned money: credit unions or financial... More of this article »
Goldman Sachs Accepts Criticism Related to Greece’s Economy (NYSE :GS)
Goldman Sachs (NYSE :GS) managing director Gerald Corrigan said that the currency swaps that his bank had entered into with Greece in 2001 could have been more transparent. Corrigan told The U.S. Treasury’s Select Committee that... More of this article »
Lending Club: The Best Way to Get a Personal Loan?
Consumers are turning away from credit cards as they get their financial houses in order and become fed up with bank’s fees that never seem to stop increasing. With credit card use waning, borrowers are now looking to other types... 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 »
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 »