Home » Industry News
American Banking News Announces Free Online Savings Account Guide for Consumers
American Banking News is proud to announce the release of a comprehensive guide for consumers that are looking to get a better return with their savings account. Everyone should have some amount of cash in liquid savings, whether it... More of this article »
FHA Capital Reserve Ratio To Drop Below Federal Mandate
The Federal Housing Authority announced last week that its capital reserve ratio would drop below mandatory levels for the first time in its 75-year history. The news comes just weeks after the Obama Administration launched a program... More of this article »
Twitter Weekly Updates for 2009-09-20
Tales From Lehman's Crypt – New York Times http://tinyurl.com/pcedmy #Econ # New blog post: Editorial: Illusory Economic and Banking Recovery Continues – Right? http://bit.ly/ioB9A # Dolphins Owner Ross Looks To Acquire... More of this article »
Two Irwin Union Bank Subsidiaries Fail – Costing Deposit Insurance Fund another $850 Million
Two more banks were shuttered this week, as Irwin Union Bank subsidiaries based in Indiana and Kentucky were closed down by regulators, bringing this years total bank failures to 94, and costing the Deposit Insurance fund another $850... More of this article »
Editorial: Will European Banking Regulators Soon Be Running American Banks?
The recent proposal by the Federal Reserve to assign itself powers to continue to interfere in the free markets provides another reason they seriously need to be reined in, and why, as Ron Paul says, we must “End the Fed.” Even... More of this article »
Credit Unions Look to Move to Private Insurance as NCUA Charges New Insurance Fees
Several boards of directors in credit unions across the nation have been voting to convert their credit union’s share insurance provide from the federally-backed National Credit Union Association (NCUA) to the privately backed American... More of this article »
SEC To Increase Oversight Of Credit Rating Agencies
The Securities and Exchange Commission voted unanimously to adopt rules that will increase oversight of credit rating agencies and improve transparency. The rules will require greater disclosure, address conflicts of interest and... More of this article »
Editorial: Entangling Alliances: Another Reason the Federal Reserve Needs to be Abolished
There are many reasons why the Federal Reserve, at minimum, needs to be audited, and eventually, needs to be shut down. One of those reasons is the secret dealings it has with foreign nations’ central banks, which are done completely... More of this article »
Lending Club Originates $4.3 Million in Loans in August, Prosper.com Originates $905 Thousand
During the month of August 2009, Lending Club.com originated a total of $4.3 million in loans and its older brother Prosper.com only originated $905 thousand. Prosper.com pioneered the peer-to-peer lending industry in the United States... More of this article »
Fallout from Rejection of SEC/BofA Settlement
The rejection of the proposed $33 million settlement between the SEC and Bank of America (NYSE: BAC) has created a number of interesting scenarios and potential fallout from the decision. Included with that fallout will be the bringing... More of this article »
CNN Highlights Peer-to-Peer Lending Industry
CNN’s Chrsitine Roman recently did a piece on the peer-to-peer lending industry. Roman highlighted a borrower that’s making use of these services and discusses the growth of the industry. Here’s the video: Embedded... More of this article »
Federal Reserve To Oversee Subprime Lenders Under New Policy
Under a new policy, the Federal Reserve announced Tuesday that it will begin a consumer compliance supervision program that will perform checks on non-bank subsidiaries of bank holding companies, such as home-equity loan businesses. ... More of this article »
International Peer to Peer Lending Firm, Zopa, Delays Re-Launch in Italy
Italian P2P Lender, Zopa Italia, announced that their new site will not relaunch until at least October. Zopa has been working on establishing sub-accounts for lenders as a part of an agreement with the Bank of Italy, and is pushing... More of this article »
Jim Rogers Says Bank Regulators Should be in Jail For Not Allowing Banks to Fail
There is a lot to say on the consequences of the policies of the regulators and the Federal Reserve from outrageous and irresponsible bailouts of big banks and some big businesses, and we’ll continue to talk about and expose... More of this article »
Editorial: Why did Prosper.com Obfuscate its Investment Performance?
If you would have visited Prosper’s website a week ago, you would have clearly seen the rate of return that its investors are receiving on its homepage. Both Prosper and Lending Club had their average interest rates listed directly... More of this article »
Peer-to-Peer Lending Company, Prosper.com, Welcomes Lenders in Florida
Prosper.com, one of the first companies to successfully develop a peer-to-peer lending marketplace in the United States, has announced today that they will now allow lenders from the state of Florida to participate in their site. Peer... More of this article »
Nobel Prize-winning Economist Says Government Not Fixing Right Banking Problems
According to Nobel Prize- winning economist Joseph Stiglitz, the problems connected to the banking and financial industry are now worse than they were before the U.S. government intervened to prop up the poorly run banks. In an interview... More of this article »
Judge Denies $33 Million Settlement between SEC and BofA
In what is a surprise move to me, Federal District Judge Jed S. Rakoff set a trial date of February 1 after denying a proposed settlement between the SEC and Bank of America (NYSE:BAC) of $33 million, in which both parties agreed to.... More of this article »
How to Diversify Your Investment Portfolio with Peer-to-Peer Loans
Many have discovered that they were woefully unprepared for the financial crisis by being too heavily invested in certain investments. Now, investors are diversifying their funds by investing in new asset classes such as by making... More of this article »
Obama Expected To Push Regulatory Reform On Wall Street Monday
President Barack Obama will speak in New York on Monday, addressing the government’s role in the financial markets and pushing for regulatory reform on Wall Street. Since the near financial collapse last fall financial regulations... More of this article »
Money Market Guarantee Program To Expire Next Week
The U.S. Treasury Department announced last week that it will end a program which provided a temporary guarantee for money market funds. The program was installed about a year ago when the nation’s financial crisis was near its... More of this article »
The Safest Online Banks: Is Your Online Savings Account At Risk?
We recently reported about the accuracy of BankRate’s Safe and Sound Rating System, a measure of a financial institutions overall health. Since there have been 92 bank failures so far in 2009, it makes sense to ask “Which banks... More of this article »
Can BankRate’s “Safe and Sound” Rating System Be Trusted?
With a total of 92 banks shuttering this year, many are questioning if their banks are next in line for failure. BankRate’s “Safe and Sound” Rating System suggests that it can measure the financial health of banks, but are its... More of this article »