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Although it is too early to say the crisis is over, it is time to withdraw some of the policy measures that supported the financial system through the credit crunch, the European Central Bank President Jean-Claude Trichet said Friday. Complete Story...
Florida banking regulators on Friday shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling economy and rising loan defaults.
A federal grand jury in Eugene has indicted 13 people on mortgage and loan fraud charges arising from the collapse of a central Oregon development company.
The Treasury Department said Thursday it will auction off warrants for three banks that it acquired as part of last fall's financial bailout. It's the latest government effort to reel in its emergency financial programs.
First Marblehead Corp., which packages students loans for sale to investors, said on Thursday that a bank subsidiary that it's considering selling has completed the sale of its remaining portfolio of private education loans.
Some U.S. Bank debit card customers now have access to the Visa Mobile application, enabling customers to manage their Visa accounts using mobile devices.
Jewels, art, cars and more than 150 bottles of fine wine will be auctioned off in North Carolina's capital city to help recoup nearly $70 million in losses for investors duped in an alleged Ponzi scheme.
The value of loans held by the largest banks who received the largest amounts of government bailout support fell for an eighth consecutive month in September, according to the Treasury Department.
A French armored car driver suspected of stealing euro11.6 million ($17.4 million) in cash has turned himself in to authorities in Monaco following a massive manhunt, police in France and Monaco said.
Not many stories this year have touched a nerve with readers as much as executive compensation.
The second-largest thrift in Alabama is suspending mortgage lending amid hefty third-quarter losses as real-estate values moved lower and foreclosure rates turned higher.
FirstMerit Corp. said Wednesday that it will enter the Chicago-area banking market by buying 24 branches and $1.2 billion in deposits from First Bank for about $42 million.
Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday.
The Federal Deposit Insurance Corp. has sometimes failed to complete background checks for contractors hired to help with its mounting workload of failed banks, the agency watchdog has found.
Britain's Lloyds Banking Group PLC said Tuesday that it plans to cut about 4,300 jobs and transfer 680 more in a series of reorganizational moves in its group operations, insurance and retail division.
Banks expect to tighten terms on credit cards in response to a new law that aims to protect consumers from sudden rate hikes, the Federal Reserve said Monday.
Regulators shut down two banks in Florida and one in California on Friday, boosting to 123 the number of U.S. bank failures this year as loan defaults rise in the worst financial climate in decades.
Its TV and print ads poke fun at the bait-and-switch tactics of other banks. Its interest rates on CDs have been the most generous in the industry.
A French prosecutor says investigators have found euro9.5 million ($14.25 million) in cash believed stolen from a Lyon branch of France's central bank, a heist that prompted a nationwide search.
Government-controlled Royal Bank of Scotland Group PLC on Friday reported a net loss of 1.8 billion pounds ($3 billion) despite an improvement in underlying profits and said lending to small- and medium-sized companies increased 5 percent.
Government officials put trillions of taxpayer dollars on the line to guarantee risky bank assets — a strategy that could cause permanent and costly market distortions, a government watchdog says.
Investigators are searching for a man who has robbed the same South Florida bank four times in the past year. The suspect has targeted a Tamarac BankAtlantic so many times that during the last heist one of the tellers said, "He's here again." The alleged robber is heavyset and has with dreadlocks. He wears different clothes each time, but during Saturday's heist the suspect wore all-black clothes, gloves and a black hat.
The head of Rhode Island-based Citizens Financial Group says it won't be sold by its parent company, the Royal Bank of Scotland, as a condition of the British government pouring billions of dollars into the firm.
The Royal Bank of Scotland PLC, which is 70 percent owned by the British government, said Monday it plans to cut 3,700 jobs in its British branch network over the next two years.
Regulators on Friday shut small banks in Georgia, Michigan, Minnesota and Missouri, bringing the number of bank failures this year to 119 amid the struggling economy and a cascade of defaults on loans.
Fed Beaten: Bill to Audit Federal Reserve Passes Key Hurdle"In an unprecedented defeat for the Federal Reserve, an amendment to audit the multi-trillion dollar institution was approved by the House Finance Committee with an overwhelming and bipartisan 43-26 vote on Thursday afternoon despite harried last-minute lobbying from top Fed offi …
As I write this the country is trying to figure out exactly what our new President is doing.
Why Can't Prosecutors Even Come Close to Taking Down Wall Street Thugs?"The bankers at Goldman Sachs, Goldman's CEO pronounced last week, are doing "God's work." God, these days, must truly be working in strange ways. Take what happened a few short years ago, right before the bubble burst on the market for subprime-backed securities."
Insight: Redesigning a flawed system Has everyone been following the intense debate in the media over how best to break up those "too big to fail" banks? No? That's because the debate isn't happening in the US, but in the UK.
Goldman Sachs: Record profits from 2009 not related to bailout, they're doing God's workSo, it's business as usual, then, regardless of whether it makes most people howl at the moon with rage? Goldman Sachs, this pillar of the free market, breeder of super-citizens, object of envy and awe will go on raking it in, getting richer than God? An impish grin spreads acr …
Dodd Offers Senate Plan for Financial OverhaulThe chairman of the Senate banking committee on Tuesday proposed to dramatically overhaul the regulatory system by consolidating bank agencies, creating a consumer financial protection agency and imposing new restraints on exotic financial instruments and credit rating agencies.
Wrong Turn Foils Carefully Planned Bank HeistLOUISVILLE, Ky. -- A Louisville man has pleaded guilty to robbing a rural Indiana bank at gunpoint, and police say he could have pulled it off if not for a minor mistake.
Statements Of U.S. Presidents About Settlements In The West Bank Every US President since Carter has seen settlement building as an impediment to Peace.
Man allegedly Robs Tamarac BankAtlantic 4 times "TAMARAC, Fla. – Investigators are searching for a man who has robbed the same South Florida bank four times in the past year."
Banks offering cash to clear out foreclosed properties | KOMO News - Seattle, Washington | Local & RegionalDespite federal loan modification programs to help struggling homeowners, many lenders are refusing to play ball and are proceeding with foreclosures. But some of those same lenders are quietly paying people to move out and find another place to live.
Down-and-out Fighter's Big Payday in Beats Off Eviction, HungerIf anyone needed a huge postfight bonus at UFC 104, it was Pat Barry. The heavyweight out of New Orleans, scored Knockout of the Night and Fight of the Night for his victory over Antoni Hardonk. That was good enough for $120,000.
One of the silent killers of the economic recovery may be a program the President first introduced in Phoenix back in February.
Regulators Seize Nine Banks The nine failed banks were in four states. All were subsidiaries of FBOP, a privately held banking company headquartered in Chicago. Together, they had $19.4 billion in assets. U.S. Bank N.A. of Minneapolis, the main subsidiary of U.S.
Congress to Banks: Cut the Overdraft FeesMany financial institutions were bailed out by taxpayers, only to turn around and raise consumer overdraft fees — or, as the banks called them, overdraft protection programs. Particularly irksome to consumers is the way that banks prioritize overdraft penalties.
MERS Losing! Stop Your Foreclosure, Share with OthersIn court cases in KS, OH, NY, NV and MA human beings are saving their homes from foreclosure by demanding that banks produce the Note.
Another View of OutsourcingUntil several years ago, I was fortunate to have several people working for me who were talented, intelligent, creative and energetic. They also appreciated the limits of their knowledge and strived constantly to maintain and improve their skills.
Bank Robber Only Seeks $100 -- Then Waits Until Police Arrive Timmy Lee Porter's robbery of an Anchorage, Alaska bank was unusual.
CIT, Goldman in tentative pactNEW YORK (Reuters) – CIT Group Inc (CIT.N), a large finance company trying to avoid bankruptcy, reached a tentative agreement with Goldman Sachs Group Inc (GS.N) over a disputed payment on a $3 billion loan, Dow Jones Newswires reported on Thursday, citing people familiar with …
Geithner, Summers Endorsed Dubious Bank of America-Merrill Lynch Deal - The Washington IndependentMore corruption from the Obama Administration?
Aid Fueled Latest Surge on Wall Street - NYTimes.comEven as the economy continues to struggle, much of Wall Street is minting money — and looking forward again to hefty bonuses.
Suicidal woman holds bank workers hostage in WinstedA Winsted resident was in psychiatric lock down Friday only hours after what police are describing as a suicidal attempt take a local bank branch hostage.
U.K. wild seed bank hits 10 percent target - Science- msnbc.comThis should be done, all over the world.
JPMorgan Chase Reports Strong Profit of $3.6 BillionA year after accepting a bailout from Washington, a resurgent JPMorgan Chase reported another round of surprisingly strong profits on Wednesday, strengthening its position at the pinnacle of American finance.
Small banks fail at growing rate, straining FDIC (100th bank fails)Small banks fail at growing rate, straining FDIC Sunday, October 11, 2009 The New York Times A year after the federal government rescued the banks considered too big to fail, the ones deemed too small to save are approaching a grim milestone: the 100th bank failure of 2009.
Elizabeth Warren: "The Middle Class Is Under Terrific Assault"The Washington Post features an interview today with Elizabeth Warren, who chairs the Congressional Oversight Panel, which makes her your last, best -- maybe only -- hope at getting the TARP money back and ensuring that something will be done to prevent the cascade of systemic fi …
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