National City

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'Monumental Seizure' After Truck Crosses Into US

4 men arrested in Calif. for drug trafficking, accused of transporting 5K pounds of meth

(Newser) - When California law enforcement agents started trailing a truck this week in San Diego County, little did they know they were about to make a huge bust—one that's now being deemed one of the county's largest ever seizures of methamphetamine. City News Service reports four men from...

Drew Barrymore Half-Sister Dead in Likely Suicide

Jessica Barrymore's body found in car in Calif.

(Newser) - Jessica Barrymore, the older half-sister of Drew Barrymore, has been found dead in her car in what appears to be a suicide two days before she would have turned 48, reports ABC San Diego . Neighbor Marta Lopez says Jessica Barrymore's car was blocking her driveway as she tried to...

Investors Fall Out of Love With Banks

Even well-managed regional banks no longer darlings

(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...

National City Close to $6B Cash Infusion

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

(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...

Home-Equity Loans Latest to Bite Banks

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

(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...

Banks Tighten Credit Squeeze
Banks Tighten Credit Squeeze
Aug 3, 2007 4:38 AM CDT

Banks Tighten Credit Squeeze

Lenders 'raising rates like crazy'

(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...

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