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European Union countries on Tuesday backed new financial oversight rules for bankers' pay and for how much extra capital banks should set aside to cover high-risk investments.
Mountain State University and the West Virginia Bankers Association are forming a partnership to provide continued education to workers in the banking industry.
Big British banks bailed out by taxpayers in the wake of the credit crunch will have to sell off large chunks of their businesses in exchange for the billions in state aid they received during the crisis, the government said Sunday.
Thai television reports say a financial expert wanted by authorities for more than a decade for alleged involvement in a massive bank failure has arrived in Thailand after his extradition from Canada.
Maine and federal banking regulators are warning consumers about a "phishing" scam in which fraudulent e-mails are circulating around the state.
Banking by cell phone is growing in popularity, and the recession may be the reason behind it, experts say, as people "micromanage" their money more than ever before.
The financial crisis has renewed the focus on bank regulation. Critics contend the patchwork system contributed to the crisis by allowing some banks to slip through the cracks and others to seek weaker oversight.
Financial services executives believe business conditions will bottom in 2009 before a recovery in the sector and broader economy occurs next year, according to a new study from KPMG LLP.
Online banking is incredibly convenient and environmentally friendly. It’s also a good way to get the best return on your deposits. If you don’t bank this way now, trend watchers say, there’s a good chance you will before long.
The long national banking nightmare may be over — but only for a select few banks.
Risky bank policies that contributed to the financial crisis were as common in neighborhood branches as they were on Wall Street, according to a labor-backed coalition that will propose new reforms Tuesday.
The U.S. government says it won't let any of its 19 largest banks fail. That doesn't mean they'll all be around in a couple years.
This week’s reports on banking industry profits — after a string of money-losing quarters — are certainly good news. But readers are curious where those profits came from. Did the taxpayer-funded bailout put banks back in the black? If so, should that really count as “making a profit”?
First they felt their reputations were stained by the financial meltdown. Now they're paying a price they protest is unfair.
With banks around the world foundering, the idea of moving your bank account to another planet might have some appeal.
Switzerland is bracing for a monumental change in a tradition of banking secrecy that survived pressure from Nazi Germany, World War II and numerous other crises over the last 75 years.
The U.S. government may be tightening its grip on the banking system, but don't expect it to change your branch's hours, tack fees onto your account or overhaul your bank's Web site.
The Obama administration is trying to craft a plan that would give the government direct ownership of some banks without scaring away private investors who remain a potential source of badly needed capital.
How's this for an image makeover? Someone on Wall Street is actually apologizing for any role he or his bank may have played in underwriting a housing bubble that burst and plunged the nation into a recession.
The latest reading on the economy showed that the gross domestic product shrank at a rate of 3.8 percent in the fourth quarter, the worst result since 1982.
Two senators are proposing a Sept. 11-style commission with subpoena powers and a $3 million budget to investigate what caused the banking and financial crisis.
The day before President-elect Barack Obama takes office, the escalating troubles facing major banks around the world couldn't be clearer.
The Federal Reserve on Thursday approved Protective Life Corp., an insurance and financial services firm, as a bank holding company.
Money.CNNNews & advice on retirement planning, college saving, taxes, mortgages, autos, real estate, investing and more from CNNMoney.com.
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 …
Why Won't Obama Give You a Job?"But while caution's prevailed in Washington when it comes to bailing out "Main Street," Wall Street's enjoyed a degree of socialism that would make Hugo Chavez blush.
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."
Gang sentenced for UK bank trojanA British court has sentenced four men to prison after they admitted they used sophisticated trojan software to steal almost £600,000 from bank accounts and send it to Eastern Europe.
Fed takes aim at overdraft penalties - washingtonpost.comThe Federal Reserve will stop banks from charging many overdraft fees as a wave of reform sweeps Washington.
Reflections on Glass-Steagall and Maniacal Deregulation"Today marks the 10-year anniversary of the passage of the repeal of the 1933 Glass-Steagall Act and related legislation.
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.
Senator Christopher Dodd's Pay Plan Called "Toothless Tiger" As Bonuses Set Record"For the most part it's pretty hollow, a toothless tiger," said Paul Dorf, managing director of Compensation Resources Inc., a pay consultant based in Upper Saddle River, New Jersey.
I'm doing 'God's work'. Meet Mr Goldman Sachs.It's the site of the best cash-making machine that global capitalism has ever produced, and, some say, a political force more powerful than governments. The people who work behind the brass-trim glass doors make more money than some countries do.
Credit-card rates up before new lawHave you checked the interest rates on your credit cards lately? Odds are they're going way up.
High and Low Finance - Goodbye to the Accounting Reforms of 2002It took just five weeks after the WorldCom accounting scandal erupted in 2002 for Congress to pass, and President George W. Bush to sign, the Sarbanes-Oxley Act. That law required public companies to make sure their internal controls against fraud were not full of holes.
Senate acts to extend unemployment benefits, expand home-buyer tax credit - USATODAY.comWASHINGTON — Recognizing that a weak economy still needs a government boost, the Senate voted overwhelmingly Wednesday to provide the jobless with up to 20 weeks in additional unemployment benefits and expand a first-time homebuyer tax credit to include a far larger pool of peo …
Some Wall St. Bonuses May Hit Pre-Crisis Highs - DealBook Blog - NYTimes.comNow is the time of year when a Wall Streeter's fancy turns to thoughts of bonuses.
Ex-Goldman Sachs Partner Kaplan Expects Populist Rage to Swell Nov. 5 (Bloomberg) -- Robert S. Kaplan, a former Goldman Sachs Group Inc. partner who now teaches management at Harvard Business School, predicted that public anger at Wall Street will continue to grow as joblessness gets worse.
Want to Save Our Economy from Almighty Greed? Here's 10 Targets That Stand in the Way1. A New Consumer Financial Protection Agency. Subprime mortgages. Abusive and arbitrary rate hikes on your credit card. Payday loans. If you're wondering who lets banks get away with this crap, there are more people at it than you think.
Wells Fargo bets on housing recovery.Replacing the inherited " Pick a payment" with interest only loans,Wells Fargo Bank is gambling on the recovery of the U.S. housing market. The program offered by Wells Fargo bank, is intended as a short term Mortgage modification.
Confessions of a Bailout CEO WifeForget the opera. Cancel dinner at Bouley. How life has changed since my CEO husband went on the government dole.
Death of 'Soul of Capitalism': Bogle, Faber, MooreARROYO GRANDE, Calif. (MarketWatch) -- Jack Bogle published "The Battle for the Soul of Capitalism" four years ago. The battle's over.
Have the Very Wealthy Achieved Victory in Their Class-War?"In 2007, the most recent year with stats, households in America's top 1% averaged $1.4 million, well over triple what top 1% households averaged back in 1974—and, remember, this tripling came after adjusting for inflation.
An update on the first time Homebuyers credit.Although the cerdit may be extended to a broader group of tax payers, as well as a higher income bracket. It will be scrutinized by the I.R.S. for poachers. read on.
Congressional ethics report leaks, revealing namesInternal investigations into the conduct of over two dozen House members were exposed in an extraordinary, Internet-era breach involving the secretive process by which Congress polices lawmaker ethics.
California Congresswoman Maxine Waters Under House Ethics InvestigationThe House ethics committee said Thursday it's investigating whether California Rep. Maxine Waters used her influence to help a bank in which her husband owned stock — and whether the couple benefited as a result.
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