Home » Industry News
Capital One (NYSE: COF) Introduces “InterestPlus” Online Savings Account
Capital One Financial Corporation (NYSE: COF) announced late last week that it added InterestPlus Online Savings to its line of high-yield direct banking products. The savings account currently offers a 1.6 percent annual percentage... More of this article »
CommunityLend Receives $1 Million Investment by Stone & Co
Community Lend Holdings Inc, the parent company of the Canadian peer-to-peer lending service CommunityLend Inc, announced a $1 million (Canadian) investment via means of a convertible debenture from Stone & Co Limited Flagship... More of this article »
Prosper and Lending Club May Get New Regulator under Financial Services Reform
Peer-to-peer lending companies, Prosper Marketplace and Lending Club, received welcome news from the House of Representatives during the month of December when an amendment was added to the bill that would move the regulation of peer-to-peer... More of this article »
Prosper Chief Marketing Officer Catherine Muriel Departs Company, Joins Support.com Team
Prosper Marketplace has recently had a number of employees on its management team depart the company, and now it appears that Prosper has lost its chief marketing officer, Catherine Muriel. A press release released by Support.com stated... More of this article »
Prosper Marketplace Earns “D+” Rating from Better Business Bureau
Prosper Marketplace, a popular peer-to-peer lending company, has earned a disappointing rating of “D+” by the Better Business Bureau. The Better Business Bureau (BBB) rates companies based on a number of factors, including length... More of this article »
2009 Bank Failures Hit 140 As Seven More Close; FDIC Unable To Find Buyers For All
The Federal Deposit Insurance Corporation (FDIC) announced Friday it was named receiver of seven more banks that were shutdown by the Office of Thrift Supervision (OTS). The closures now bring the 2009 failed bank list to 140. Georgia,... More of this article »
SunTrust Inc. (NYSE: STI) Expands Live Solid Initiative with Budgeting Application for Facebook
SunTrust Banks, Inc. (STI) has launched Daily Dollar on Facebook. It’s the bank’s latest application in support of its Live Solid initiative. Daily Dollar taps into two complementary cultural shifts – a desire to rebalance priorities... More of this article »
Treasury Department Can’t Afford to Sell Citigroup (NYSE:C) Shares
After announced plans to work with Citigroup Inc. (NYSE:C) to pay back the funds it received from taxpayers via the TARP program, the Treasury Department in a humiliating move had to back out of the deal to sell up to $5 billion of... More of this article »
Senate Banking Committee Confirms Bernanke for Second Term, Goes to Senate Floor for Full Vote
While it’s not certain Federal Reserve Chairman Ben Bernanke will be confirmed for a second term by the Senate, he has taken one more step toward that probably being the case, as the Senate Banking Committee voted 16-7 to give... More of this article »
Lending Club Forum, Stats and Wiki: Where to Get Additional Information about Lending Club
With the most recent recession, investors have become more painfully aware of the roller coaster ride that the stock market can take them on than ever. As a result, people are looking to find alternative investments that provide more... More of this article »
Citigroup Inc (NYSE: C) Shares Drop 7% as Treasury Holds On to Shares
In a somewhat surprising move late Wednesday, the Treasury Department backed away from an initial plan to sell some of its shares in Citigroup Inc. (C). Shortly after the announcement, shares in Citigroup, Inc dropped almost 7% to... More of this article »
Reinstating Glass-Steagall Act Receives Mixed Responses
It was probably inevitable that the Glass-Steagall Act would be revisited in response to the banking crisis, and Senators John McCain and Maria Cantwell have now brought the proposition forward, whereby commercial banking and investment... More of this article »
Wells Fargo (NYSE: WFC) and JP Morgan Chase (NYSE: JPM) Report Growth in 15-Year Mortgage Market
As more homeowners look to refinance, Wells Fargo (WFC) and JP Morgan Chase (JPM) are seeing surprisingly substantial increases in the origination of 15-year mortgages. Through November, Wells Fargo saw 15-year mortgage originations... More of this article »
Credit Suisse (SIX: CSGN) Fined $536 Million for Violation of U.S. Sanctions Against Iran, Other Countries
It’s getting expensive to do business in the U.S. if it means you have to cater to its every whim in its interactions with the world. Credit Suisse (SIX: CSGN) is the latest to learn that lesson as they have agreed to pay a... More of this article »
FDIC Postpones Capital Requirements for Wells Fargo (NYSE:WFC), Citigroup Inc. (NYSE:C), Bank of America Corp. (NYSE:BAC) and JPMorgan Chase & Co. (NYSE:JPM)
Blaming former rules which allowed banks to effectively keep assets and liabilities off of their books and look stronger than they actually were, the Financial Accounting Standards Board changed that to where billions of assets and... More of this article »
Schizophrenic Obama Administration Continues to Send Mixed Messages to Banking Industry
Obama doesn’t seem to have the ability to comprehend, not only how indecisive he is, but also the intellect to grasp the issues in relationship to the banking industry so he can understand and communicate a message that makes... More of this article »
Obama Panicking as Jobless ‘Recovery’ Fails to Materialize – Now Begs Bankers to Bail Him Out
In what appears to be a very disingenuous and pathetic assertion by Barack Obama, the banks of America now are obligated to facilitate economic growth because the government came to their aid, and the economic crisis was “largely... More of this article »
Wells Fargo (NYSE:WFC) Secures Deal to Pay Back $25 Billion in TARP Funds
Wells Fargo (NYSE:WFC) announced it has made a deal with the government to pay back all of the $25 billion in TARP funds it received from taxpayers. Although it has resisted doing so, Wells Fargo announced they would offer a $10.4... More of this article »
JP Morgan Chase (NYSE: JPM) Makes 143,027 in HAMP Related Loan Modifications
A new report from the government’s Financial Stability.gov website has released new loan modification numbers for JP Morgan Chase (NYSE: JPM) for the government’s Making Home Affordable Plan. The newly released data represents... More of this article »
Citigroup (NYSE: C) Reaches $20.5 Billion Agreement to Pay Back TARP
Stating that it was in “a position to support the economic recovery,” Citigroup (C) Chairman and Chief Executive Vikram Pandit formally announced its agreement with the Treasury Department to exit the Troubled Asset Relief Program... More of this article »
Morgan Stanley (NYSE:MS) Asia Chairman Stephen Roach Says Federal
At a recent conference in Berlin, Morgan Stanley (NYSE:MS) Asia Chairman Stephen Roach said that the Federal Reserve is the “weak link” among central banks, and they could create another financial crisis, beyond the one... More of this article »
Democrats Continue to Push Fascist Banking Regulation Agenda
Democrats continue their controversial slide away from liberty and freedom, as they move toward a fascist government, which they seek to embed in the economic system of America. Fascism, as Paxton wrote, deals with a “form of... More of this article »
President Obama Calls JP Morgan (NYSE: JPM), Citigroup (NYSE: C), Bank of America (NYSE: BAC) Executives “Fat Cats” that “Don’t Get It”
President Obama and his team of economic advisors lashed out at large-cap banks calling bank executives “fat cats” that “don’t get it” in a move that will certainly escalate tensions between the nation’s largest banks ahead... More of this article »