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InBank, Platinum Community Bank, Vantus Bank and Others Fail
Like clockwork, Federal regulators took over five banks spanning across Arizona, Illinois, Iowa and Missouri today, bringing the total number of bank failures to 89 amid the worst financial crisis since the Great Depression. The two... More of this article »
How Kennedy’s Death Will Impact Congress’s Wall Street Reform Efforts
President Obama’s effort to reboot how the Federal Government regulates wall street could face major problems if Senator Tim Johnson, whose home state of South Dakota is a major hub for Credit Card companies, takes over the chairmanship... More of this article »
Private Currencies: What if the US Dollar Went Away?
There’s a growing movement to privatize the banking industry. Many are calling for reform. Some want to audit the Federal Reserve, others, such as Representative Ron Paul from Texas want to end the Federal Reserve all together. Others... More of this article »
Editorial: Is Focus on Bank CEO Pay a Smokescreen for Federal Reserve?
There are a lot of ignorant and clueless writers who attempt to make it sound like the pay structure of Wall Street CEOs could have been behind the failure of the banking system: fractional reserve banking and the Federal Reserve. Now... More of this article »
Senator Schumer Pushes Change In SEC Funding Following Madoff Failures
New York Senator Charles Schumer, Democrat, released a statement on Thursday listing his intent to push a proposal that would change the Securities and Exchange Commission’s method of funding, providing the agency access to millions... More of this article »
Editorial: Fractional Reserve Banking and the Federal Reserve
I was reading the other day that the idea of getting rid of the Federal Reserve was based on faulty assertions that the booms and busts we’ve experienced since its inception in 1914, also happened during the 1800s, largely undermining... More of this article »
What Would the United States Look Like Without the FDIC?
There’s a small but growing movement of concerned citizens that are hoping to turn the financial world on it head and eliminate the Federal Reserve. We recently looked at what the United States might look like without the Federal... More of this article »
Is Lending Through Prosper and Lending Club a Solid Investment?
When we lend money to our friends, we will typically hand them $20 or $30 and they will pay us back a week or two later and we won’t think much of it. If the person was willing to provide you a little bit of interest, you actually... More of this article »Everything You Need to Know About Online Savings Accounts
Welcome to American Banking News’s online savings account guide. The purpose of this section of the website is to help you understand, research and choose an online savings account. What is an Online Savings Account? An online... More of this article »
Bank of America, Wells Fargo and Citibank to Accept California IOUs as Deposits
Bank of America (NYSE: BAC), CitiBank (NYSE:C), Wells Fargo (NYSE: WFC) have announced they will start accepting state-issued IOUs from customers as deposit. Wells Fargo will begin accepting California’s state-issued IOUs on September... More of this article »
How to Protect Yourself against Bank Failure
With 416 banks on the FDIC’s “troubled list” and 84 bank failures this year, it’s more important than ever to make sure that you are protected in the event that your bank or credit union goes out of business. It can be very... More of this article »
What Would the United States Look Like Without the Federal Reserve?
Since H.R. 1207 was introduced by Dr. Ron Paul in Congress this February, there has been a growing movement questions whether the Fed should continue to operate without more oversight and some question whether or not the Federal Reserve... More of this article »
Wells Fargo (WFC) Announces Plans to Repay TARP Loans
Wells Fargo (NYSE: WFC) announced on Tuesday that it has developed plans to repay the funds it received under the Troubled Asset Relief Program (TARP) without diluting its existing shareholders. In October of 2008, the federal government... More of this article »
How to Determine If Your Bank is Headed for Failure
With 84 bank failure this year, it’s more important for consumers and businesses than ever to make sure that their bank is financially secure. There are signs that a bank is going to fail and you can make sure to switch banks before... More of this article »
The Financial Insanity of Government, Banking, and Moral Hazard
While the mainstream press falls all over itself to continue the mantra of the banks and other huge businesses having to been bailed out by the government, the reality is we’ve been placed in a much worse position now than before... More of this article »
NY Federal Reserve President Says US Can Avoid Coming Inflation
Bank president of the New York Federal Reserve, William Dudley, said that the Federal Reserve has the tools it needs to prevent inflation from accelerating and doesn’t need to begin shrinking its balance sheet. The central bank has... More of this article »
US Government Collects $4 Billion in Profit from TARP Participants
The United States Federal Government has collected profits of about $4 billion from eight of the nation’s largest banks that have repaid fully their loans from the Troubled Asset Relief Program (TARP) in addition to the repayment... More of this article »
Important Information for Taylor Bean Customers
If you had a payment held by Taylor, Bean & Whitaker Mortgage Corporation before the company went under and laid off most of its employees on August 5th, you’re going to have a bit of a difficult time making your payment. You... More of this article »
Federal Reserve Audit May be Part of Financial Regulation Overhaul
Barney Frank, Chairman of the House Financial Service Committee, announced that a Federal Reserve audit will be part of the Congress’s regulatory overhaul on the financial services industry. In February of this year, Congressman... More of this article »
Will Business and Banking Bailouts Kill the American Economy?
While most in the mainstream media have been presenting Ben Bernanke as a hero who has saved the American economy, the reality is he may have done the greatest damage to it of any single man in American economic history. Usually he’s... More of this article »
FDIC’s Actions Could Further Damage Banking Industry
I wanted to take a look at the recent communication between the FDIC and the banking community, where the FDIC asserted that “Recent experience demonstrates that newly insured institutions pose an elevated risk to the Deposit... More of this article »
Obama’s Pay Czar Is A “Paid” Man
In early June President Barack Obama appointed Kenneth Fienberg to act as the pay czar for the Treasury Department and essentially policing Wall Street Compensation. Fienberg is probably most known for overseeing the government’s... More of this article »
Ron Paul’s “End the Fed” Movement Gaining Steam
The growing interest in the book soon to be released by Ron Paul named “End the Fed” is unprecedented in monetary history, and reveals the extraordinary times we live in where a chance to change the monetary policy in... More of this article »