In August of this year, news broke that Goldman Sachs plans to acquire certain assets and liabilities of GE Capital Bank, as General Electric downsizes its financial services division. Under the proposed transaction, Goldman would obtain around $16 billion of deposits. Goldman Sachs must not be allowed to grow through this transaction.
Tens of millions of Americans do not have a bank account. As a result, many of these Americans spend a reported $89 billion annually in interest and fees by using predatory services such as payday loan and check cashing services.
Consumer vulnerabilities affect everyone -- financial institutions and retailers who must bear the cost, small businesses whose reputations' suffer if their consumers are affected by fraud, and most importantly, working class Americans who have to bear these consequences firsthand.
By Paul Sisolak, Contributor Men and women who serve in the U.S. Armed Forces make sacrifices for their country. In honor of them, Veterans Day is...
In little over a month 196 world leaders will gather in Paris at the COP21 climate summit attempting to set a framework to keep the world within a two degree temperature cap -- a limit which experts believe would prevent the worst impacts of climate change.
They may be unlikely allies. They may have vastly different motivations. But for now, Carl Icahn and Elizabeth Warren can justifiably claim to be on the same side when it comes to systemically important financial institutions. It is a union that bank executives should be very afraid of.
Millions of low-income Americans depend on check cashing institutions, pawn shops, and payday loans to fulfill much of their banking needs. These places are notorious for ripping people off and serves as one of the countless barriers that keep poor people impoverished.
We want to know why the Federal Reserve, funded and heavily run by the banks, is keeping interest rates so low that we receive virtually no income for our hard-earned savings while the Fed lets the big banks borrow money for virtually no interest.
It's hard to believe how different things were, here in the United States, just 27 years ago -- or how different things would be, had our government not invested in women. A healthy economy, void of corruption and injustice, is one that leads to an environment where nobody is left behind.
Why go through the trouble of getting a car loan from a bank or credit union, rather than just getting it through the dealership? It's certainly easier to let the dealership handle the financing for you, but by doing so you may be conceding too much. Here are five reasons to have your car loan ready before buying.
Where else but Silicon Valley do "Unicorns" munch lazily among Redwood cities, venture capitalists spout fountains gold promising everlasting returns, and entrepreneurial princes try their hand at pulling cash from stone.
Until the political importance of Glass-Steagall is recognized, financial reform is doomed. Captured regulators will implement milquetoast versions of reform laws, and Congress will entertain amendments to slowly repeal the reforms.
Tuesday night's first televised Democratic debate is being heralded as a victory by both the Clinton and Sanders' camp, and for good reason. Hillary Clinton was able to shine as a candidate of experience and confidence.
Here we are, back where we started pre-crisis: the government remaining the guarantor of the American housing market because Americans really can't fulfill their goals of home ownership and long-term secure mortgage financing any other way.
Columbus Day is observed as a Federal Reserve Bank holiday, which usually means banking institutions are closed. Fortunately, some banks will keep their doors open during the holiday.
I'm a sucker for Internet lists. If I come across a "Top 10 Spectacular Wardrobe Fails by International Pop Stars," I instantly lose at least an hour's worth of productivity reading about how JLo wore it better than Christina. And there are loads of lists out there.