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Banks Reduce Borrowing from Federal Reserve’s Emergency Lending Facility
Over the last week, Banks decreased their borrowing from the Federal Reserve’s emergency lending facility and decreased their participation in other programs intended to ease the financial crisis, leading some to believe that the... More of this article »
Federal Reserve President Sees “Lackluster” Recovery in U.S.
The economic recovery in the United States will be “lackluster” because of weak consumer spending and strains in the financial market, Federal Reserve Bank of Atlanta President Dennis Lockhart said. In a speech yesterday in Jacksonville,... More of this article »
U.S. House to Hold Hearings on Federal Reserve Audit
Congressman Ron Paul informed the Campaign for Liberty that the House Financial Services Committee will hold hearings on Paul’s bill to audit the Federal Reserve (H.R. 1207). The hearings are currently tentatively set for Friday,... More of this article »
Congress Loses Faith in the Federal Reserve—Strips Additional Authority from New Financial Regulation
The Federal Reserve was to play a major role in the Obama Administration’s proposed regulatory overhaul of the financial system, but Congress may stand in the way. Many Senators have lost confidence in the Federal Reserve and are... More of this article »
Defiant Bank of America Lawsuit Could Bring Transparency We’ve Been Looking For
Bank of America Corp. (NYSE:BAC) is refusing to cave in to threats and allegations from New York Atty. Gen. Andrew M. Cuomo, and is ready to go to legal battle if the $33 million settlement agreed upon with the Securities and Exchange... More of this article »
Proposed Debit Card Regulations Could Cause 1,000 Banks and 2,000 Credit Unions to Fail
New regulations that offer consumers additional rights and protections when using credit card have become law and are going into effect and now Congress will very likely focus on adding additional protections for users of checking... More of this article »
Pressure to Regulate Bank Debit Cards Increasing
It’s somewhat puzzling to me the big deal being made about the overdraft fees being charged for the use of debit cards. The reason is that the vast majority of consumers don’t overdraft their bank accounts, and those that... More of this article »
Editorial: Alan Greenspan Blames Human Nature, Not Himself, for Financial Crisis
Alan Greenspan thought when he stepped down as Chairman of the Federal Reserve that his place and name in economic history had been preserved, as he presumably had overseen the longest uninterrupted period of economic growth in the... More of this article »
Lending Club Announces “Click Free” Investments for Large Investors
In a recent conference call, Lending Club announced a new way for investors with $25,000 or more to invest in peer-to-peer loans through Lending Club without having to individually select the loans they wish to fund. Lending Club refers... More of this article »
How to Maximize your FDIC Insurance
If you have a significant amount of assets, you are going to want to make sure that your wealth is protected if the financial institutions that you work with go under. Here’s how to maximize the coverage your FDIC insurance offers... More of this article »
Editorial: Will Our Money Ever Feel Safe Again?
For those of us who understand the underlying weaknesses and vulnerability of fractional reserve banking, and by extension the Federal Reserve and the FDIC, among other elements of the banking system, it wasn’t a surprise when... More of this article »
The State of the P2P Lending Industry
After appearing in 2006, person-to-person lending has grown by leaps and bounds. There are now several companies competing in different areas of the industry, each continually refining their business model in hopes of maximizing the... More of this article »
People Capital – Peer-to-Peer Lending for Student Loans
During the financial crisis, college students found that it was almost impossible to get private student loans. People Capital hopes to solve that problem by creating empowering people to finance each other’s educations. The idea... More of this article »
Editorial: The Nonsense of “Reining in Bankers’ Pay” and Why Central Planning Never Works
As I mentioned in my last article about the attempt at instituting a bunch global rules on the banking industry not being workable, as the issue is a systemic one, and not one of being underregulated. As long as fractional reserve... More of this article »
China to Implement New Capital Requirements for Banks Over Several Years
China’s chief banking regulators said it will take years for their country to implement stricter capital requirements, seeking to assure investors that new rules will not cause an immediate decline in new lending. In a recent statement,... More of this article »
Global Regulators Agree on New Capital Requirements for Banks
In the recent G20 talks in Basel, Switzerland, global regulators agreed on new capital requirements that will require banks to set aside additional capital to weather hard times. Under the new proposal offered by top central bankers,... More of this article »
Should You Use Lending Club to get a Short-Term Personal Loan?
Peer-to-peer lending services such as Lending Club are growing by leaps and bounds. Consumers are using them because they can get better interest rate for personal loans than they would by borrowing from a local bank and investors... More of this article »
Does the FDIC Have 99 Years to Pay Insured Deposits?
In these uncertain times, many are questioning the safety of their money in the banking system and question whether or not the Federal Deposit Insurance Corporation can provide adequate protection to consumers of failed banks. The... More of this article »
Why did the Federal Reserve Devalue the U.S. Dollar to 5 Cents?
The Federal Reserve took control over the United States money supply in 1913. Since then, the buying power of a dollar has decreased by 95% according to data from the Consumer Price Index (CPI). The Federal Reserve’s laissez faire... More of this article »
Kansas City Fed Bank President Says Cut Debt, Be Firm On Interest Rates
President of the Kansas City Federal Reserve, Thomas Hoening said in a speech given at the annual meeting of the Kansas Banking Association that actions need to be taken in reducing the nation’s debt, both federal and consumer. The... More of this article »
Will Rand Paul Take up the Federal Reserve Fight in the Senate?
Over the last few months, there has been a growing movement to bring transparency and new levels of accountability to the US Federal Reserve. Congressman Ron Paul has been leading the fight in the House of Representatives. There’s... More of this article »
Bank of America: Federal Oversight Still Needed
Bank of America (NYSE: BAC) has lost $5.7 billion in 2009 and is not expecting a strong second half of the year. Bank of America is hoping to get out of the eyes of the US Treasury by repaying their TARP loans, but BofA’s financials... More of this article »
Reasoning of FDIC Behind New Supervisory Procedures of Newly Insured Banks
The reasoning behind the FDIC’s decision to increase the supervisory period over new banks from three to seven years is faulty to me, although it won’t hurt the banks in general. What the FDIC drew their conclusion from... More of this article »