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SATURDAY, NOVEMBER 7, 2009
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NEWS ABOUT: bank

bank stories: 140 news summaries

1 - 20 of 140 Stories | 1 2 3 4 5 ... 7 Next >>

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Frank, Geithner to Roll Out 'Too Big to Fail' Bill

New rules will impose 'living wills' for banks

Oct 26, 09 6:57 AM CDT
(Newser) - After months of negotiations, Congress and the Obama administration are ready to introduce new rules on financial institutions deemed "too big to fail." Barney Frank, who heads the House Financial Services Committee, will present a bill as soon as this week that will let the government seize... More »

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House Financial Services Committee • bank • Treasury Department • Barney Frank • bank regulation • financial crisis • Timothy Geithner • financial reform

Russian Banks Foreclose
on Pigs, Lingerie

As defaults soar, banks stuck with weird collateral

Oct 26, 09 6:21 AM CDT
(Newser) - With loan defaults soaring, Russia’s banks have had to seize a lot of collateral lately—and we’re not talking about houses. By year’s end, 20% of Russian loans could be non-performing, by Moody’s estimate. In order to recoup those losses, the banks have accepted controlling stakes... More »

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Russia • bank • credit market • banking • collateral • financial crisis

Fed Rolls Out Plan to Limit Bank Pay

It works in tandem
with pay czar's new compensation rules

Oct 22, 09 3:15 PM CDT
(Newser) - The Federal Reserve today officially announced a plan to regulate pay structures at banks, the same day the pay czar rolled out his plan to cap salaries at bailed-out firms. The administration’s double-whammy on compensation marks an unprecedented level of government involvement in the private sector, and the policies... More »

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executive compensation • Federal Reserve • bank • compensation • financial institutions • risk factors • Kenneth Feinberg

Goldman Exec: Pay Inequality Is Good for All

Soaring Wall Street bonuses should be tolerated for economy's sake

Oct 21, 09 6:00 AM CDT
(Newser) - Believe it or not, lavish Goldman Sachs bonuses are good news for everybody, a company official told a discussion panel yesterday. The out-of-whack pay inequality will give the economy a kick in the pants, insisted the vice chairman of Goldman Sachs International. "We have to tolerate the inequality to... More »

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executive compensation • Goldman Sachs • bank • bonuses • financial sector • executive bonuses

 Bailed-Out Banks 
 Boost CEO Perks 

From private jets to bodyguards, they just keep taking

Oct 20, 09 6:32 AM CDT
(Newser) - The CEOs of bailed-out banks and financial companies saw their perks and benefits—ranging from private jet use and country club membership to free parking and bodyguards—rise even at the height of the crisis last year. On average, the CEOs of the 29 biggest companies that received federal money... More »

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executive compensation • CEO • bank • bailout • executives • financial crisis • perks

 Wall Street 
 Forking Out 
 Record Pay 

Pay at top firms expected to hit $140B as markets rebound

Oct 14, 09 5:36 AM CDT
(Newser) - Major financial firms have bounced back from the brink of meltdown and are on course to hand out their biggest-ever pay packages this year. The total payout at the big banks and securities firms will hit $140 billion this year, according to Wall Street Journal projections based on revenue figures... More »

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Wall Street • executive compensation • Goldman Sachs • bank • financial institutions • executive bonuses

FORECLOSURE FRONTLINES

 Don't Hate Me: 
 I'm Just Here 
 to Clean Up 

Clearing the detritus of owners' dreams from bank-owned homes

Sep 30, 09 12:07 PM CDT
(Newser) - Cindy Reid doesn’t want you to think she and her boss—and boyfriend—are the “bad guys.” But it is difficult when her man is the one “you never want to see pull up to your house. He has eyes that go flat when you offer ... More »

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trash • foreclosure • recession • bank • homeownership • cleaning • vacant homes • repossessions • repo men

Goldman May Break Charter to Duck Pay Rules

Investors see financial giant shedding
year-old bank status

Sep 23, 09 8:15 AM CDT
(Newser) - With the Federal Reserve busily drafting rules to limit pay for bank executives, some investors believe Goldman Sachs will simply stop being a bank, Reuters reports. By shedding its year-old commercial banking charter, acquired in the heat of the financial meltdown to ensure access to credit, Goldman could elude restrictions... More »

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executive compensation • Goldman Sachs • Federal Reserve • bank • bank regulation • banking industry

FDIC May Borrow Billions From Banks

Tapped-out deposit insurance fund
mulls reverse bailout

Sep 22, 09 6:37 AM CDT
(Newser) - After a year of government bailing out the banks, now the banks may bail out the government. Regulators are considering a plan for the FDIC, which protects bank depositors, to borrow billions from healthy banks, enabling the fund to refresh its accounts after a wave of bank failures. Banks and... More »

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bank • FDIC • bailout • bank failure • deposit insurance • Sheila Bair • Timothy Geithner

 Old Capone Hideout for Sale 

$2.6M gets you 407 acres and nostalgia in Wisconsin

Sep 9, 09 2:14 PM CDT
(Newser) - For a minimum bid of $2.6 million, a remote 407-acre Wisconsin lodge where Al Capone stayed while on the lam can be yours, the Chicago Tribune reports. “Al Capone's hideout retreat,” proclaims an ad run in that paper by a small Wisconsin bank that had the... More »

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real estate • Wisconsin • foreclosure • auction • bank • Al Capone • lodge • hide-out

Debit Card Overdrafts Bring Banks Billions

Fees make credit card shopping look like the smarter thing to do

Sep 9, 09 9:29 AM CDT
(Newser) - Debit card overdraft fees are helping to pay banks’ bills in the recession—and they're hitting customers hard, the New York Times reports. “Banks will let you overspend on your debit card in a way that is much, much more expensive than almost any credit card,” says an... More »

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bank • debit card • credit card • fees • regulator • overdraft fee

Banks Get Back to
Risky Business as Usual

Plans to overhaul regulation losing momentum as banks return to health

Sep 9, 09 1:49 AM CDT
(Newser) - Banks that teetered on the edge of extinction last year are returning to their old ways as the shock of the financial crisis fades, the Wall Street Journal reports. The banks are handing out hefty compensation packages again and dealing in the same risky financial instruments that caused last year's... More »

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Goldman Sachs • Morgan Stanley • bank • Lehman Brothers • regulation • financial sector • collateralized debt obligations • financial crisis

 Troubled Securities 
 Threaten to Drown Banks 

Feds set to seize Texas' Guaranty

Aug 21, 09 10:48 AM CDT
(Newser) - Bad loans have been killing off banks at the fastest rate in 17 years—but now, securities purchased from other banks are a mounting threat, the Wall Street Journal reports. Thousands of banks nabbed securities dependent on mortgages and the financial industry. “Under most scenarios, they were good and... More »

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bank • securities • mortgage backed securities • financial institutions • housing crisis • bank failure

(Newser) - Alabama's Colonial Bank has collapsed in the sixth-biggest bank failure in American history, the Wall Street Journal reports. The lender, which had assets of $25 billion and 346 branches in five southern states, was an aggressive mortgage lender in overheated markets like Florida, and its failure will cost the FDIC ... More »

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bank • FDIC • bank failure • financial crisis • deposit insurance • TARP • Colonial Bank

(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

(Newser) - American banks will pull in $38.5 billion in overdraft fees this year, a record sum that's largely coming from pockets of the poorest and most indebted consumers. According to the Financial Times, banks hiked fees on overdrafts and credit cards as the financial crisis took hold; this year's take... More »

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Citigroup • Bank of America • debt • bank • credit • banking • consumer debt • JPMorgan Chase • overdraft fee

 Baghdad Gunmen 
 Kill 8, Grab $7M 
 in Bank Heist 

Theft may be to back insurgency: official

Jul 28, 09 9:14 AM CDT
(AP) - Gunmen killed eight security guards and made off with nearly $7 million today during an early morning robbery at a bank in central Baghdad that police say is the work of insurgents attempting to finance their operations. It’s the second deadly robbery in a week in Baghdad's commercial Karradah... More »

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Iraq • insurgents • Baghdad • bank robbery • bank

 Risk Aversion Keeps 
 Loans Shrinking 

Trend suggests economy has a long way to go

Jul 27, 09 10:34 AM CDT
(Newser) - Lending is still on the downswing, the Wall Street Journal finds, as an analysis of 15 banks' total loans on offer in the second quarter shows another 2.8% decline. What's worse, more than half of April and May’s loan volume was tied to refinanced mortgages and renewed credit... More »

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loans • recession • bank • lending practices • economy • financial crisis • TARP

(Newser) - Aiming to avoid an ugly international dispute, the US government, Switzerland, and a Swiss bank are seeking to delay a hearing over private bank accounts, the Wall Street Journal reports. The respite would give government officials and UBS until August to strike a deal over data on some 52,000... More »

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Department of Justice • fraud • IRS • federal courts • Switzerland • UBS • tax evasion • bank

'Hot Money' Prompts Small Bank Collapses

Deposits from brokers, used to ignite growth, fueled risky loans

Jul 4, 09 5:49 AM CDT
(Newser) - A boom-time reliance on something known as "hot money" to boost growth has left many of America's small and regional banks with their fingers badly burnt, the New York Times reports. Brokers provided billions in deposits to ambitious banks seeking to grow fast, but the high interest rates needed... More »

MORE ABOUT:
bank • banking • FDIC • Office of Thrift Supervision • bank regulation

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