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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 »
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) 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 »
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 »
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 »
Lending Clubs’ Interest Rates on Unsecured Loans Beat Industry Averages
Recent data made available by Lending Club and Prosper Marketplace indicate that the vast majority of its borrowers take out unsecured loans from the two companies’ peer-to-peer lending marketplaces for debt consolidation. There’s... 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 »
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 »
Lending Club Rate Reduction is Result of Lower than Expected Default Rates
Peer-to-Peer lending giant Lending Club recently reduced the interest rates that are being charged to borrowers by as much as 50 basis points. A recent statement made by Lending Club’s senior director of product marketing indicates... More of this article »
Need a Flexible Unsecured Loan? Checkout Lending Club
Getting an unsecured personal loan from a bank is becoming increasingly difficult as banks cut back on their lending to meet new capital requirements from various state and local regulators. Banks are adding new fees to personal loans,... More of this article »
Peer-to-Peer Lending Company, Lending Club, Announces New Brand Identity
Lending Club, the fastest growing peer-to-peer lending company in the United States, unveiled a new brand identity on Friday that includes a new red and navy logo and a new friendlier website. According to a blog post on Lending Clubs... More of this article »
Obama Unconvincing in Finding New Banking Bonus Religion – Doesn’t “Begrudge” Banking Compensation
As usual Barack Obama misread the mood of the public and his constant hammering of banking pay ended up backfiring, as people got fatigued from it all and the business community in general started to see Obama’s anti-business... More of this article »
Did Goldman Sachs (NYSE:GS) Help Greece Cook its Books?
An article in Der Spiegel asserts Goldman Sachs (NYSE:GS) helped Greece cover up the true depth of its debt situation through creative use of cross currency swaps which allowed Greece to be in much deeper debt than allowed under what... More of this article »
BigCarrots.com Mixes Peer-to-Peer Lending and Corporate Bonds in the United Kingdom
BigCarrots.com, a U.K. based social lending company, is hoping to make consumer-to-business lending more accessible with its new social lending site. Typically when an individual investor makes a loan to a business or corporation,... More of this article »
Zopa On Pace to Originate £50 Million in Peer-to-Peer Loans During 2010
Zopa, a peer-to-peer lending company that operates in the United Kingdom, Italy, and Japan, announced that they have originated £3.81 million in new peer-to-peer loans during the month of January and are on pace to originate over... More of this article »
Will Bank of America (NYSE:BAC) CEO Ken Lewis Be the One to Take Down Ben Bernanke and Hank Paulson?
So far with the economic and banking fiasco in America, Ben Bernanke and Hank Paulson haven’t given much more than a slap on the wrist, while Bernanke was voted on to continue with his policies at the Federal Reserve which have... More of this article »
Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein Lands $9 Million Bonus for 2009
The Times of London is looking completely incompetent in the wake of the revelation that Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein received a 2009 bonus of only $9 Million after leading the company to record profits. The Times asserted... More of this article »
New York Attorney General Andrew Cuomo Files Securities Fraud Lawsuit Against Former Bank of America (NYSE:BAC) CEO Ken Lewis and CFO Joe Price
In a charges that many are scratching their heads about, New York Attorney General Andrew Cuomo, who seems to be positioning himself for moving up in politics, filed securities fraud charges against former Bank of America CEO Ken Lewis... More of this article »
Interview with Colin Henderson of Canadian Peer-to-Peer Lending Company CommunityLend
Canadian peer-to-peer lending company CommunityLend recently launched in two Canadian provinces. We recently had a chance to interview with Colin Henderson, one of CommunityLend co-founders. Henderson also serves as the company’s... More of this article »
Prosper Marketplace Must Repay $2 Million Bridge Funding by April 1st
Prosper Marketplace entered into an agreement yesterday with its existing venture capital partners to receive a new $2 million bridge loan. Details of the funding agreement have been made available to the public via an SEC filing and... More of this article »
Volcker Plan Appears Dead as Volcker Stumbles Under Questioning
In what I have considered a waste of time from the beginning with no chance of ever becoming law, the so-called Volcker Plan appears dead after questioning Senate Banking Committee found Volcker unable to answer key questions which... More of this article »
Lending Club Loans: Lending Club Reduces Rates on Unsecured Peer-to-Peer Loans
Lending Club announced that the company is lowering interest rates on its peer-to-peer loan opportunities for borrowers by 0.50%. In a short statement made by the company, Lending Club said commented that “We have reduced our interest... More of this article »