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Citibank (NYSE: C) Cancels Overdraft Protection for Customers with Balanced Checkbooks
Citibank (NYSE: C) and other firms offer overdraft protection because it’s a very profitable business. Banks can collect massive fees and interest when customers overdraft while using their overdraft protection services. It appears... More of this article »
Bank of Japan Ready for Market Intervention?
As financial markets across the globe begin to regroup and find new direction, each country is seemingly taking steps to ensure the banking system does not collapse. The latest news comes out of Japan, where the governor of the Bank... More of this article »
Wells Fargo (NYSE: WFC) Offers Customers Fraud Prevention Tips For The Holidays
Wells Fargo (NYSE: WFC) produced a press release last week offering its customers safety tips to help avoid being defrauded during the holiday shopping season. The advice is for both online shopping, along with transactions done... More of this article »
Senator Bernie Sanders To Vote Against Renomination of Ben Bernanke
Saying the Ben Bernanke is “part of the problem,” Senator Bernie Sanders said on Sunday that he will definitely vote against nominating Bernanke for a second term as Chairman of the Federal Reserve. The Federal Reserve,... More of this article »
Ben Bernanke Fears Ron Paul’s Audit Above All Else
In a recent and unusual action, Federal Reserve Chairman Ben Bernanke wrote a column in a newspaper, in this case the online version of the Washington Post, which attempted to undermine the legislation initiated by Ron Paul to at minimum... More of this article »
Federal Reserve’s Balance Sheet Shrinks $2.4 Billion Last Week
The Federal Reserve released data on Friday that showed a $2.4 billion decrease in its total liabilities for the week prior. However, America’s central bank still has a balance sheet showing liabilities in excess of $2 trillion... More of this article »
Pay Czar Slashes Salaries of Two Key Executives at Bank of America (NYSE: BAC)
Bank of America Corp. (NYSE: BAC) benefited from more than $45 billion in taxpayer bailouts has cut the 2009 salaries of two of its key executives after the U.S. Treasury’s pay czar, Kenneth Feinberg, reviewed the compensation of... More of this article »
Bank of America’s (NYSE: BAC) Mortgage Rates Continue to Decline, 30 Year Fixed Rate Available at 4.49%
Bank of America’s (NYSE: BAC) refinance rate for mortgages have continued to decline and are hitting new record lows. This week, the refinance rate for a 30-year fixed rate mortgage has gone as low as 4.49%, much lower than the weekly... More of this article »
Obama Administration To Push Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), and Wells Fargo (NYSE:WFC) To Modify More Loans
The Obama Administration is expected to announce on Monday a renewed effort to encourage banks, including Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), and Wells Fargo (NYSE:WFC) to concentrate resources and intensify their effort... More of this article »
Credit Card Solicitations on the Decline, USPS Hurting
As recently as three years ago, there were a total of 8 billion new credit card solicitations mailed out each year to consumers. At the time, it was a major revenue source for the US Postal Service, and now that those numbers have... More of this article »
Lending Club for Borrowers: How to Improve the Likelihood of Getting Your Loan Fully Funded
When you’re looking to get a loan on Lending Club or Prosper as a borrower, you have to create a loan listing and clearly communicate what your needs are for a loan so that it can get fully funded. Many loans do get fully funded,... More of this article »
Lending Club Investment Strategies: How to Select Borrowers that Won’t Default
Funding loans through peer-to-peer lending companies such as Prosper or Lending Club are becoming an increasingly popular alternative investment, but many investors fund loans to borrowers that are likely higher credit risks than you... More of this article »
Bad Credit Peer-to-Peer Lending: Can People with Bad Credit Get a Peer-to-Peer Loan?
Peer-to-peer lending companies, including Prosper and Lending Club, have raised the minimum credit score that it takes to get a loan during the last year and a half making it more difficult for those with bad credit to participate... More of this article »
Lending Clubs: What Is Online Peer to Peer Lending?
During the last 100 years, our idea of borrowing money for a major purchase has largely been narrowed down to getting a loan from a bank in the form of a mortgage, a credit card or another type of loan. There are now a new group of... More of this article »
Lending Club States and Prosper States: What States Peer-to-Peer Companies Operate in
Peer-to-peer lending companies, such as Prosper and Lending Club, must comply with regulations regarding commercial lending in each state that they operate in. For this reason, Lending Club and Prosper don’t operate in all 50 states... More of this article »
Understanding the Peer-to-Peer Lending Business, How Lending Club and Prosper Make Their Money
Traditional commercial banks make their money by borrowing money from savers and then lending it out at higher interest rates than they are paying to savers. Peer-to-peer lending companies also provide savings-like and lending opportunities,... More of this article »
Peer-to-Peer Lending Sites and Companies Operating in the United States
The fledgling industry of peer-to-peer lending has grown dramatically in the last couple of years. Companies like Prosper, Lending Club and others have gained national exposure and the amount of loans that these peer-to-peer lending... More of this article »
New Rules Pass Regulating Conflict of Interest for Regional Federal Reserve Board of Directors
New rules were put into place to better handle conflicts of interest in regard to the board of directors of the 12 regional Federal Reserve banks. The new rules were put into immediate effect. Much of this impetus behind the rules... More of this article »
Federal Reserve Wants Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to Submit TARP Repayment Plans
It seems the Federal Reserve has had mounting pressure to pressure banks like Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to submit repayment plans concerning the TARP funds they received. Along with the... More of this article »
How Lending Club Works
Peer-to-peer lending companies have been operating in the United States for about three years now. Companies such as Prosper.com and Lending Club are providing loans funded by individuals as an alternative to borrowing from banks in... More of this article »
Peer-to-Peer Business Loans: How to Get Capital for Your Company
If you have a small business and need some operating capital or capital to expand your small business, it can quite often be very difficult to find funding. Typically funds from angel investors or from venture capitalist require a... More of this article »
How to Use Peer-to-Peer Student Loans to Pay for College
With the amount of available credit in the United States shrinking dramatically over the last year, banks have become much more selective about what type of loans they are willing to provide. Private student loans were one of the first... More of this article »
Federal Reserve Wants Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to Submit TARP Repayment Plans
It seems the Federal Reserve has had mounting pressure to push banks like Bank of America (NYSE:BAC), Wells Fargo (NSYE:WFC), Citigroup (NYSE:C) to submit repayment plans concerning the TARP funds they received. Along with the three... More of this article »