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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: National City

National City stories: 4 news summaries

Investors Fall Out of Love
With Banks

Even well-managed regional banks no longer darlings

Jul 16, 08 7:39 AM CDT
(Newser) - With the nation's banks under pressure from bad loans, and sources of credit scarce, bank customers aren't panicking, the New York Times notes, but  investors are, fleeing an industry much more accustomed to being a Wall Street darling. Bank shares continued their downward spiral yesterday, with the S&P Regional... More »

MORE ABOUT:
National City • subprime crisis • mortgage defaults • banking industry

National City Close to $6B
Cash Infusion

US's 10th-largest bank has been decimated by the mortgage crisis

Apr 21, 08 7:06 AM CDT
(Newser) - Battered National City—which has seen shares plummet 78% as it's been overwhelmed by the subprime fiasco—is close to a $6 billion bailout funded by some of its largest shareholders and private equity firm Corsair Capital, reports the Wall Street Journal. The infusion for the Cleveland-based bank would be... More »

MORE ABOUT:
corporate earnings • National City • subprime crisis • JPMorgan Chase • credit market chaos • Fifth Third • financial crisis

Home-Equity Loans Latest to Bite Banks

Even lenders that dodged subprime chaos suffering big trickle-down losses

Mar 12, 08 12:03 PM CDT
(Newser) - Home-equity loan defaults are soaring, the Wall Street Journal reports, as the trickle-down effect of the subprime mortgage crisis makes its way into what was once a source of big profits for lenders. JP Morgan Chase and Wells Fargo both escaped major writedowns on subprime mortgages gone bad, but already... More »

MORE ABOUT:
Bear Stearns • Wells Fargo • National City • Washington Mutual • SunTrust Banks • housing crisis • subprime crisis • home-equity loans • JPMorgan Chase

Banks Tighten Credit Squeeze

Lenders 'raising rates like crazy'

Aug 3, 07 4:38 AM CDT
(Newser) - Lenders are cutting credit, tightening standards or raising interest rates to a broader range of borrowers beyond those with weak credit records who qualify for subprime loans, the Wall Street Journal reports. Panic is spreading to a category of mortgages between subprime and prime that often involves borrowers who don't... More »

MORE ABOUT:
subprime mortgages • mortgage • loans • Wells Fargo • Alt A loans • IndyMac • National City • interest rate

4 Stories


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