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Big Banks

Banks Earned More Under Obama Than Bush

The Huffington Post | Bonnie Kavoussi | Posted 01.07.2012 | Business

Wall Street firms have earned more in profits so far under President Obama than during all eight years of George W. Bush's presidency, according to Th...

Wells Fargo Opening Bank For The Super Rich

Posted 01.06.2012 | Chicago

Wells Fargo & Co.'s new bank for the super rich is set to open in Chicago, targeting households with $50 million or more to invest. Abbot Downing ...

Are the Banks Still Coming for Your House?

Daniel Cubias | Posted 01.06.2012 | Latino Voices
Daniel Cubias

Depending on whom you ask, the housing crisis is over, still going on, or entering a new and far more sinister phase.

Stunning Number: Big Banks Set to Lose 70,000 Accounts on Move Your Money Day

Van Jones | Posted 01.04.2012 | Business
Van Jones

Today, tens of thousands of people all over the country will leave the big banks and move their money to community banks and credit unions, where people remember things like customer service and loyalty.

BofA Had 20 Days Of Trading Losses Last Quarter

The Huffington Post | Jillian Berman | Posted 01.04.2012 | Business

Bank of America can't seem to catch a break. The bank brought in less than it spent in financial markets -- known as a trading loss -- on 20 days ...

More People Joined Credit Unions Since BofA's Debit Fee Controversy Than In All Of 2010: Survey

The Huffington Post | Jillian Berman | Posted 01.03.2012 | Business

More consumers flocked to credit unions last month than in all of 2010 combined, likely in part due to the controversy surrounding debit card fees. ...

BofA Customers Most Likely To Leave Their Bank

The Huffington Post | Jillian Berman | Posted 01.03.2012 | Business

Customers at Bank of America are more likely to leave the bank than customers of other big banks and credit unions, according to a recent poll. Ni...

As Layoffs Loom, BofA Employees Flooding Rival Banks With Resumes

Posted 01.02.2012 | Business

CHARLOTTE, North Carolina (Reuters) - Bank of America Corp employees are flooding rival companies with resumes as a major cost-cutting program gets un...

Credit Suisse Announces Major Job Cuts

Posted 01.01.2012 | Business

Credit Suisse (CSGN.VX) will cut another 1,500 jobs and scale back its capital-guzzling investment banking business as it seeks to meet tough new regu...

Top New York Foreclosure Law Firm Held Costume Party Mocking Homeless

New York Times | JOE NOCERA | Posted 12.29.2011 | Business

On Friday, the law firm of Steven J. Baum threw a Halloween party. The firm, which is located near Buffalo, is what is commonly referred to as a “fo...

Occupy Wall Street: Hidden Victories and Hidden Allies

Don McNay | Posted 12.29.2011 | Business
Don McNay

Most of Bank of America's competitors have decided not to impose a debit card fee and even Bank of America itself is looking to modify (or hopefully eliminate) the charge. Chalk this up as an Occupy Wall Street victory.

New Website Allows People To Directly Email Wall Street Executives

The Huffington Post | Jillian Berman | Posted 12.28.2011 | Business

As protesters continue to camp out in Manhattan's Zuccotti Park and other locations around the world, some activists have found a new venue to occupy:...

The 10 States Where Bank Accounts Are The Least Popular

Posted 12.28.2011 | Business

As debate rages over the role of banks in society today, a sizable number of Americans continue to have no bank account at all. Close to one-third...

Some Big Banks Decide Debit Fee Not Such A Good Idea

Jillian Berman and Bonnie Kavoussi | Posted 12.28.2011 | Business

Some big banks are beginning to decide that charging a debit card fee may lead to more trouble than it's worth. JPMorgan Chase has decided it isn'...

BofA CEO 'Incensed' People Don't Recognize 'How Much Good' His Employees Do

The Huffington Post | Jillian Berman | Posted 12.26.2011 | Business

Bank of America CEO Bryan Moynihan says the public needs to start thinking before they criticize his company. "I, like you, get a little incensed ...

Volcker Rule So Complex Even Volcker Says He Doesn't Like It

The New York Times | James B. Stewart | Posted 12.22.2011 | Business

When Paul Volcker called for new rules in 2009 to curb risk-taking by banks, and thus avoid making taxpayers liable in the future for the kind of reck...

Big Banks Still Raking In Billions From Overdraft Fees

Posted 12.21.2011 | Business

Despite bank officials wailing about how financial reforms may hurt their bottom line, banks will rake in billions this year thanks to fees they're ch...

Why Big Banks Are Still Reporting Huge Profits (and What You Can Do)

Tim Chen | Posted 12.20.2011 | Business
Tim Chen

Revenue doesn't just materialize out of thin air: people provide it. So, if you don't like the way a bank does business, don't do business with them at all, and don't limit your message to your checking account.

Report: California AG Subpoenas Bank Of America

Posted 12.20.2011 | Business

The California state attorney general's office subpoenaed Bank of America Corp this week regarding the sale and marketing of troubled mortgage-backed ...

Poll: One-Third Of Customers Would Switch Banks Over Debit Card Fees

The Huffington Post | Jillian Berman | Posted 12.19.2011 | Business

For many, debit card fees could be enough to push customers to go through the hassle of switching banks. About one-third of consumers say they'd l...

Morgan Stanley Nets Billions In Profit, After Loss Last Year

Posted 12.19.2011 | Business

Morgan Stanley swung to a $2.15 billion profit in the third quarter, helped by a large accounting gain, even as core revenue in trading, banking and w...

Goldman Sachs Loses $428 Million In Its Second Quarterly Loss Ever

The Huffington Post | Bonnie Kavoussi | Posted 12.18.2011 | Business

Goldman Sachs posted its second quarterly loss as a public company on Tuesday, according to Bloomberg News, in the latest indication that Wall Street ...

Dan Froomkin

Who Are The Big Banks Banking On In 2012 | Dan Froomkin | Posted 12.17.2011 | Politics

The bankers love Mitt Romney, but their affair with President Barack Obama hasn't gone completely cold. A new analysis by the Center for Responsive...

Reuters Analysis: Boost In Big Bank Fees Could Push Consumers To Turn To Alternative Lenders

Posted 12.17.2011 | Business

Alternative finance firms, from credit unions to online and pawn lenders, are gaining traction as banks turn off the tap for easy cash and start charg...

Protesters To Occupy London, Rome, Madrid Saturday

Posted 12.14.2011 | Business

LONDON, Oct 14(Reuters) - For an October revolution, dress warm. That's the word going out - politely - on the Web to rally street protests on Satu...