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Federal Reserve Proposes ‘Term Deposit Facility’ to Withdraw Money from Banking System
On Monday the Federal Reserve put forth the idea of creating a new way to withdraw money from the banking system when the need to tighten money policy presents itself. Dubbed a term deposit facility, what it will do is allow banks... More of this article »
Re-branded IndyMac – OneWest Bank – Generates Huge Profits in First Year
After acquiring the assets of failed mortgage lender IndyMac from the federal government, investors in the company re-branded it OneWest Bank, and it has soared in profits since the year they took the lender over. OneWest paid about... More of this article »
Federal Reserve Considers Term-Deposits To Help Reign In Excess Bank Reserves
The Federal Reserve announced Monday that it is considering the use of a term-deposit program that would motivate financial institutions to park excess reserves at the central bank. The move is being considered as the Fed ponders... More of this article »
Prosper.com Horror Stories and Experiences: How Prosper’s History is Unfolding
Prosper Marketplace was the first peer-to-peer lending institution to gain any serious traction in the United States. During its first couple of years before the SEC cracked down on the company for selling unregistered securities,... More of this article »
LendingClub Lending Match: Should You Use Lending Match To Pick Your Loans?
Lending Club is a peer-to-peer lending firm that allows individuals to partially fund unsecured loans to borrowers and earn an interest rate as profit. Many investors choose to individually pick the loans that they want to fund, but... More of this article »
Prosper.com Complaints: How Prosper Marketplace Could Improve Their Service
Prosper Marketplace (Prosper.com) is a peer-to-peer lending service that allows individuals to make loans to one another using their website. Lenders can opt to partially fund loans at specific interest rates and borrowers can get... More of this article »
Peer-to-Peer Loans: Is Lending Club, Wells Fargo (WFC), or Citigroup (C) the Best Option for Online Personal Loans?
If you are looking to get a peer-to-peer loan to pay for a major purchase or to consolidate debt, you have a number of options available to you including peer-to-peer loans, unsecured loans from banks, and other online personal loans.... More of this article »
New report shows Citigroup (NYSE: C) and SunTrust (NYSE: STI) face more belt-tightening in 2010
Flurries of new regulations are adding expenses. Failing loans are cutting into revenue. It’s a recipe for continuing budget cuts for many banks. A report by research firm SNL Financial confirms that cost-cutting is the new normal... More of this article »
Banning ‘Phantom Votes’ Gives Shareholders More Say in Who Will Be Bank Board Members
Voting for bank boards should definitely be a more interesting as new rules regarding “phantom votes” by the New York Stock Exchange will give shareholders more say in who ends up seated on the board. This will of course... More of this article »
Citigroup (NYSE: C) and Bank of America (NYSE: BAC) to Avoid Feinberg Pay Rulings in 2010
Citigroup (NYSE: C) received notice from the federal government that they will not be subject to rulings from the Treasury Department’s paymaster Kenneth Feinberg in 2010. Bank of America (NYSE: BAC) had previously received confirmation... More of this article »
Will U.S. Economy Really Rebound 4 to 5 Percent In 2010 As Many Analysts Expect?
Coming out of the past recession many analysts have become somewhat bold with rebound predictions for 2010, forecasting 4-5 percent GDP growth in the U.S. economy for 2010. Historically, the year following the end of a recession has... More of this article »
Prosper Mobile: Prosper.com Launches Mobile Peer-to-Peer Lending Marketplace
Prosper.com, also known as Prosper Marketplace, has released the mobile version of their peer-to-peer lending service. Prosper Marketplace’s new mobile website is targeted clearly toward the lending side of peer-to-peer lending.... More of this article »
Prosper.com Competitors: Who is the Prosper Marketplace Up Against?
Prosper.com, also known as the Prosper Marketplace, was the first company in the United States to launch a significant online peer-to-peer lending service that connects borrowers and lenders. Since the company was launched in 2006,... More of this article »
Fannie Mae (NYSE: FNM), Freddie Mac (NYSE: FRE) Execs May Earn $6 Million, Gov’t To Withdraw $400 Billion Financial Aid Cap
According to regulatory filings, Fannie Mae (NYSE: FNM) Chief Executive Michael Williams and Freddie Mac CEO Charles Halderman Jr. are each eligible to receive compensation for 2009 that could reach $6 million. The two mortgage giants,... More of this article »
FDIC Receives Welcome News – Mulitple Bidders For Troubled Loan Portfolio
The FDIC has received bids from over a dozen investors for a $1.1 billion dollar package of commercial real-estate loans that they acquired from various failed banks. The portfolio consists of mostly nonperforming commercial property... More of this article »
New Home Sales Plunge as Personal Income and Spending Fail to Meet Expectations
Many people were shocked to find that not only did new home sales on grow in number, but they plunged by a huge 11.3 percent to levels not seen since April. To show how bad the drop was, economists from Thomson Reuters were looking... More of this article »
Lending Club Receives “B+” Rating From Better Business Bureau
The popular peer-to-peer lending company, Lending Club, has earned a “B+” rating from San Jose’s division of the Better Business Bureau. This news comes on the heels of Lending Club’s primary competitor, Prosper Marketplace,... More of this article »
JP Morgan Chase (NYSE: JPM), Disney (NYSE: DIS) Offer New Disney Rewards Debit Card
JP Morgan Chase (NYSE: JPM) announced Wednesday that its Chase banking unit has joined up with Disney (NYSE: DIS) to offer the Disney Rewards Visa Debit Card. The card joins the family of existing Chase Disney Rewards Visa cards... More of this article »
Wells Fargo (NYSE: WFC) Poised to Benefit From New Home Loan Disclosures
Wells Fargo (WFC) could serve as a litmus test for how banks across the U.S.will deal with the largest changes to home loan disclosures since the 1970s. Even as the housing market shows signs of recovery, banks are having to wrestle... More of this article »
Are Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM), Citigroup (NYSE:C) and Wells Fargo (NSYE:WFC) Good Investment Opportunities?
From a contrarian investment point of view, it seems that Bank of America (NYSE:BAC), JPMorgan (NYSE:JPM), Citigroup (NYSE:C) and Wells Fargo (NSYE:WFC) are at a good place to consider some serious investing in the companies, as there... More of this article »
Lending Club Performance: How Do Lending Club Loans Perform Over Time?
Investors in Prosper Marketplace have criticized the company for misrepresenting its default rates and average rates of return. Prosper first began offering loans in the tail end of 2006 and investors that funded those early loans... More of this article »
Using Peer-to-Peer Lending Sites to Make Lending to Family Members More Successful
When you loan money to friends and family members, you’re likely never going to see the money again. There’s no consequence to the borrowers’ credit score if they don’t repay the loan and chances are you’re going to be too... More of this article »
Prosper, Lending Club and RaiseCapital.com as a Source for Angel Funding and Venture Capital?
The New York Daily News recently ran an article about how entrepreneurs are increasingly turning to peer-to-peer lending sites such as Prosper and Lending Club and Raise Capital to get funding for their small businesses. The article... More of this article »