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Deposit Insurance Fund in Red by $8.2 Billion
As of the end of the third quarter, the Deposit Insurance Fund, the fund that backs up the guarantee that deposits in bank are secure up to $250,000, has dropped into the red to the tune of $8.2 billion. This is no surprise, as the... More of this article »
SunTrust, Inc. (NYSE: STI), Wells Fargo (NYSE: WFC), and Regions Financial (NYSE: RF) tout loyalty programs to increase revenue
Earning miles with Delta Air Miles with a travel debit card from SunTrust (STI). Wells Fargo (WFC) will let you apply reward points towards a home equity loan. And Regions Financial’s allows you to earn 4% cash back on downloads... More of this article »
How to Get a Peer-to-Peer Personal Loan Online
If you are looking to get any sort of personal loan through the internet, you will be inundated with offers from hundreds of different banks, credit unions and finance companies. Most of the offers you’ll find have terms that are... More of this article »
Will Ben Bernanke Remain Chairman of the Federal Reserve?
Not too long ago Federal Reserve Chairman Ben Bernanke was considered to be assured of being nominated for another term as Chairman of institution, but after a dismal performance at the helm of the agency, it’s not necessarily... More of this article »
JPMorgan Chase & Co. (NYSE:JPM) Drops Arbitration Clause From Card Contracts in Antitrust Lawsuit
JPMorgan Chase & Co. (NYSE:JPM), the largest credit card lender in America has agreed to drop the use of an arbitration clause in order to move forward in settling an antitrust lawsuit which included a number of other large financial... More of this article »
Lending Club Complaints: What Lending Club Could Do Better
As of the end of 2009, Lending Club is now originating over $6 million in new loans per month, almost three times what its primary competitor, Prosper.com, is putting out. Although it’s currently getting a lot of attention while... More of this article »
Lending Club Stats: What Types of Loans Perform Best
With Lending Club’s revamped statistics pages, investors have gained a much better idea of what types of loans perform better than others. Previously, investors had some hints about what typed of loans performed better from the company’s... More of this article »
Lending Club Originates $6.3 Million in New Loans in October, Outpaces Prosper Marketplace
Lending Club originated a total of $6.3 million in new loans during the month of October, making it the fastest growing peer-to-peer lending firm in the United States. The company has seen significant growth in the number of loans... More of this article »
Lending Club Investment Strategies: High Risk or Low Risk Loans
Investors that make use of the peer-to-peer lending firm, Lending Club, recently gained access to a lot of new data that will help them make better decisions as to what types of loans they should fund and which ones they should avoid.... More of this article »
Becoming a Lending Club Lender – What are the Legal Requirements?
Many investors have lost faith in the stock market, real estate and other investments to provide consistent return over time. As a result, investors are increasingly seeking alternative investments to round out their investment portfolios.... More of this article »
Lending Club Hosts Webcast about New IRA Product
Lending Club recently hosted an online conference with its investors about its new IRA product. During the conference, hosted on Instant Presenter, Scott Langmack presented on Lending Club’s new IRA option to over 100 of the company’s... More of this article »
Is Wells Fargo (NYSE:WFC) Much Weaker Than it Admits?
The Wells Fargo (NYSE:WFC) continues to be a somewhat strange one, as the conflicting signals from the company over the months leaves you wondering what the real strength of the bank is. One obvious example is their response to receiving... More of this article »
Congressmen Ron Paul and Alan Grayson Announce Amendment Based on HR 1207 Passes in Financial Services Committee
Concerns were raised after highly supported HR 1207 was gutted by Mel Watts, who offered a version of the bill so different as to not to be taken seriously, in response, Congressmen Ron Paul and Alan Grayson added an amendment to HR... More of this article »
Lending Club Vs Prosper – Which Company Provides Better Peer-to-Peer Loan Investment Opportunities?
After the dust has settled from the SEC coming down on peer-to-peer lending companies in the United States, Prosper.com and Lending Club have come out as the two dominant forces in the peer-to-peer lending industry in the United States.... More of this article »
J.P. Morgan Chase (NYSE:JPM) CEO Jamie Dimon: No Bank Should be Too Big to Fail
In a recent op-ed piece, J.P. Morgan Chase (NYSE:JPM) chairman and CEO Jamie Dimon asserted that there should be no limits to the size companies are allowed to grow, while at the same time any company should be allowed to fail. While... More of this article »
Prosper Vs Lending Club – Who Has The Best Peer-to-Peer Loan Interest Rates?
Both Prosper.com and Lending Club offer fixed-rate unsecured loans that amortize over a period of 3 years. Although the loan products that borrowers are getting are essentially the same from both companies, the interest rates that... More of this article »
Prosper.com Lending Volume Increases by 65% in October
Peer-to-Peer lending firm, Prosper.com, has announced that its new loan volume had increased by 65% during the month of October. During the month of September, the company originated $1,222,378 in new loans. That number increased to... More of this article »
Capital Injections to Bank of America (NYSE: BAC) and Citigroup (NYSE: C) Under Scrutiny as TARP Losses Increase
Huge capital injections to giant banks such as Bank of America Corp. (BAC) and Citigroup Inc. (C) are coming under even closer scrutiny as taxpayers are at risk of losing $5.1 billion invested in the Troubled Asset Relief Program (TARP). In... More of this article »
Prosper Marketplace Announces $2.2 Million 3rd Quarter Loss, Running Low on Capital
Prosper Marketplace, the company behind the peer-to-peer lending site, Prosper.com, has announced a net loss of $2,238,138 for the third quarter of 2009. This news bodes particularly poorly for the company as their cash reserve is... More of this article »
Warren Buffett Increases Stake in Wells Fargo (NYSE:WFC) Via Berkshire Hathaway (BRK:A) – Is it Ethical?
In its most recent regulatory filing, Berkshire Hathaway (BRK:A) increased its stake in Wells Fargo (NYSE:WFC) by over 10 million shares in the third quarter. To me, this does raise ethical questions on the part of the actions and... More of this article »
How Many Rules Does it Take to Regulate Overdraft Fees?
When the Federal Reserve introduced new rules last week which would ban banks and credit unions from charging overdraft fees to consumers at ATMs or debit cards unless they’re giving option of accepting or declining the service,... More of this article »
P2P Lending Coming Soon to Local Banks Thanks to New Fiserv (NYSE: FISV) Product
Peer-to-Peer lending has grown in popularity significantly over the last two years because of the pioneering work done by Prosper.com, Lending Club, and a few other entrants into the market place. One company, Fiserv (NYSE: FISV),... More of this article »
Prosper.com Begins Offering Hardship Arrangements to Delinquent Borrowers
Prosper.com has been able to get passed its legal trouble with the SEC, but there’s still one looming problem that the peer-to-peer lending industry has yet to find an answer for—extremely high rates of delinquency amongst its... More of this article »