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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: banks

banks stories: 69 news summaries

1 - 20 of 69 Stories | 1 2 3 4 Next >>

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 Feds Close 9 More Banks  

Failures, mostly in west, bring total to 115

Oct 31, 09 7:14 AM CDT
(AP) - Regulators have shut California National Bank of Los Angeles and eight smaller related banks as the weak economy continues to produce a stream of loan defaults. The banks closed yesterday by the FDIC were in California, Illinois, Texas and Arizona. They were divisions of privately held FBOP Corp., a bank... More »

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FDIC • banks • loan defaults

Dems Slam Bank
Overdraft Fees

Banks are set to make $38.5 billion on overdraft fees this year

Sep 21, 09 2:34 AM CDT
(Newser) - Washington Democrats are using words like "criminal" and "rip-off" in a round of complaints about banking overdraft fees, reports the Washington Post. US banks are poised to rake in some $38.5 billion from overdraft fees this year, usually without a warning to customers that they're about to... More »

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Chris Dodd • banks • overdraft fee

'Too Big to Fail' Banks Are Only Getting Bigger

Gangbuster results have Treasury fearing moral hazard

Aug 28, 09 6:46 AM CDT
(Newser) - Officials plowed hundreds of billions of taxpayers' dollars into financial institutions deemed "too big to fail," but a year later the once-stricken banks are bigger than ever. Thanks to Treasury and Fed-brokered mergers, plus a playing field cleared of the weaker performers, America's financial behemoths are coming out... More »

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banks

(Newser) - The return of hefty profits on Wall Street doesn't mean that banks are returning to previous bad behavior, Tim Geithner insists. In an interview with the Wall Street Journal, the Treasury secretary says the big banks are safer now because "they're running with much less leverage," greater liquidity,... More »

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executive compensation • bank • Obama administration • banks • deleveraging • Treasury secretary • Wall Street bailout • Timothy Geithner

OPINION

 Post-Crisis Wall Street 
 Suffers Convenient Amnesia 

With bailouts, Treasury went too easy on financial industry

Aug 13, 09 11:22 AM CDT
(Newser) - We keep hearing that “Wall Street as we know it ended” in September 2008, but in fact, “the great upheaval of last fall may not have been severe enough,” writes David Weidner in the Wall Street Journal. The government formed a financial “death panel,” choosing... More »

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Wall Street • bailout • JPMorgan Chase • banks • Wall Street bailout

 US Banks Hiring Again 
 After Layoffs, Bailouts 

But headhunting 'selective,' notes banker

Aug 11, 09 7:25 AM CDT
(Newser) - After cutting thousands of jobs over the past two years, American banks are rushing to fill them again as business picks up, Reuters reports. “Back in March and April, no one really knew if the investment banking business was going to exist again," said a search firm exec.... More »

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Wall Street • Citigroup • Bank of America • Goldman Sachs • Morgan Stanley • employment • JPMorgan Chase • banks • financial crisis • hiring

OPINION

Be Very Afraid: Goldman Sachs Is Smiling

High-risk model hasn't changed, could lead to new crisis, says Reich

Jul 15, 09 7:41 AM CDT
(Newser) - Goldman Sachs is back in the black, with trading and stock underwriting revenues at an all-time high—and that should scare you, former Clinton cabinet member Robert Reich writes in Salon. While Goldman's earnings may signal that the current crisis is abating, the bank hasn't modified high-risk strategies that forced... More »

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Wall Street • Goldman Sachs • Robert Reich • FDIC • bailout • risky trading • investment banks • banks • financial crisis • TARP

Feds Probe Shady Market
for Derivatives

Banks may have unfair edge in information on
credit-default swaps

Jul 14, 09 9:33 AM CDT
(Newser) - The Justice Department is probing the market for credit-default swaps, the largely unregulated derivatives that contributed to the financial crisis, Bloomberg reports. Justice is investigating whether big banks have unfair access to price information through their ownership of a private company that provides data to investors. The Obama administration wants... More »

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Department of Justice • derivatives market • Lehman Brothers • credit market • regulation • bank regulation • banks • financial crisis • credit default swap

Troubled Banks Have a New Benefactor: You

Industry hikes fees on checking accounts, overdraft transactions

Jun 28, 09 11:31 AM CDT
(Newser) - Your children aren’t the only ones who think you’re an ATM: Your bank does, too. Facing declining revenues and smacked with tough, new credit card legislation from Congress, banks are hiking overdraft, ATM, and checking account fees, the Washington Post reports. The average bounced check fee rose 2.... More »

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Congress • Federal Reserve • legislation • ATM • banks • banking industry • checking account • consumers

Credit Card Firms Cut Deals With Delinquents

Newly relaxed policies allow firms to settle
for portion of debt

Jun 16, 09 8:25 AM CDT
(Newser) - With countless customers running behind on payments, credit card companies are taking it easy on delinquents, letting them off the hook in exchange for partial repayments, the New York Times reports. The firms began easing up on their previous policies last fall, experts say; now they’re letting frontline workers... More »

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bankruptcy • debt • unemployment • credit card • HSBC • settlement • payments • banks • credit card accounts • delinquency

(Newser) - Small and midsize banks across America could face $100 billion in losses from commercial real-estate loans next year, shrinking their capital in most cases to scary lows. The Wall Street Journal conducted worst-case-scenario stress tests on 900 banks and found crises looming far beyond Wall Street. Small and midsize banks... More »

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credit crisis • commercial real estate • banks • stress tests

MARKETS

 Tech, Banks Push Dow Up 46 


May 14, 09 3:16 PM CDT
(Newser) - Markets climbed today on good performance by technology stocks and a rebound in the financial sector, the Wall Street Journal reports. A key bank index, which dipped earlier as financials sold stock to raise capital, was up almost 4%. The retail sector continued to struggle, with Wal-Mart off 1.9%.... More »

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stock market • NASDAQ • New York Stock Exchange • Dow Jones • financial sector • S&P 500 • Wal-Mart • banks • technology companies

 Against Economic Tide, 
 Norway Thrives 

Often standing in contrast to Europe, strict state control puts Norway in good stead

May 14, 09 10:49 AM CDT
(Newser) - While the rest of the world struggles with recession, Norway’s socialist-leaning government looks pretty smart, the New York Times reports. Norway enjoys a budget surplus of 11% and is free of debt (the US owes $11 trillion), and its economy grew 3% last year. Oil revenues are pouring in—... More »

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socialism • Norway • capitalism • welfare • Arctic oil • housing bubble • banks

(Newser) - For some, 2009 may be remembered as the year of the Ponzi scheme: Last year, federal regulators prosecuted 13 such scams, but in just the first few months of this year, they’ve already filed 22 cases, reports ABC News. One recent bust is Long Island's Peter Dawson, who stiffed... More »

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subprime mortgages • Ponzi scheme • mortgage lender • housing bubble • banks • Bernard Madoff

(Newser) - It's official: The stress-test results are out, and the feds say 10 of the nation's 19 biggest banks need to raise a total of $75 billion in capital to weather a future downturn, the Wall Street Journal reports. The banks, five of which are regional, are:
  • Bank of America:
... More »

MORE ABOUT:
Ben Bernanke • Bank of America • Treasury Department • banks • banking industry • Timothy Geithner • stress tests

OPINION

Tests Replace 'Uncertainty With Transparency'

Tests on the biggest banks will make raising capital, paying it back easier

May 7, 09 7:56 AM CDT
(Newser) - In an op-ed piece in the New York Times today, Timothy Geithner positions the stress tests—whose results are released officially today—as a way to restore longer-term confidence in the aftermath of the "tentative stability" achieved by the last administration. "We chose a strategy to lift the... More »

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bailout • Obama administration • banks • financial crisis • Timothy Geithner • stress tests

 Stress-Tested Banks 
 Need Just $100B 

Investors find causes for optimism in capitalization news

May 7, 09 7:25 AM CDT
(Newser) - Leaked results of the stress tests on America's biggest banks separate sufficiently capitalized banks—including JPMorgan Chase, MetLife, AmEx, and Goldman Sachs—from underfunded ones such as BofA, Wells Fargo, and Citi. Bank shares rose sharply yesterday and today, and some investors said the results were better than they feared.... More »

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Ben Bernanke • Goldman Sachs • Federal Reserve • recession • bank • Treasury Department • JPMorgan Chase • banks • Timothy Geithner • TARP • MetLife • stress tests

Top Subprime Lenders Owned by Bailout Banks

Analysis of gov't data reveals sources of the economic meltdown

May 6, 09 9:28 AM CDT
(Newser) - Some 21 of the top 25 subprime lenders that triggered the global economic collapse were either owned or financed by banks that ended up needing bailouts, an analysis by the Center for Public Integrity finds. Among the backers, who make huge profits on the subprime business, were Lehman Brothers, Merrill... More »

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Citigroup • subprime mortgages • Wells Fargo • AIG • mortgage loans • GMAC • investment banks • JPMorgan Chase • subprime lender • banks • financial crisis • TARP

 Fed to Release 
 Stress Test Results Next Week 

Data will show potential losses in specific loan categories

May 1, 09 1:44 PM CDT
(Newser) - The US will learn the fiscal health of its 19 biggest banks Thursday, when the Federal Reserve and Treasury release the results of the “stress tests,” the Wall Street Journal reports. Delayed somewhat, the results will contain potential loss estimates in specific loan categories for each bank, and... More »

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Federal Reserve • capital • Treasury Department • credit crisis • loan • banks • stress tests

British MPs Blast Bankers
For 'Astonishing Mess'

Report by finance committee blames HBOS, RBS for meltdown

May 1, 09 7:31 AM CDT
(Newser) - Bankers bear the majority of blame for the global economic crisis for having made "an astonishing mess of the financial system," an investigation by the British parliament's finance committee has concluded. The Treasury Select Committee said in a report that bailed-out banks such as HBOS and Royal Bank... More »

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British Parliament • Royal Bank of Scotland • HBOS • banks • financial crisis • economic crisis • RBS

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