Banking News

As Layoffs Loom, BofA Employees Flooding Rival Banks With Resumes

Posted 01.02.2012

Read More: Bank Layoffs, Video, Bank of America Layoffs, Bank of America Cost Cuts, Bank of America, Business News, Banking News, Bank-of-America-Costs, Big Banks, Bank-of-America-Employees, Business News

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

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Credit Suisse Announces Major Job Cuts

Posted 01.01.2012

Read More: Business News, Banking News, Credit Suisse Job Cuts, Bank Layoffs, Video, Credit Suisse, Big Banks, Swiss Banks, Business News

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 ...

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The 10 States Where Bank Accounts Are The Least Popular

Posted 12.28.2011

Read More: Video, Bank Accounts, Bank-Account-Fees, Unbanked, Business News, Banking News, Bank Accounts States, Big Banks, Personal Finance, Debit Card Fees, Credit Unions, Bank of America Debit Card Fees, Business News

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...

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Some Big Banks Decide Debit Fee Not Such A Good Idea

Jillian Berman and Bonnie Kavoussi | Posted 12.28.2011

Read More: Jpmorgan Chase Debit Card Fee, Dodd-Frank, Business News, Banking News, Big Banks, Debit Card Fees, Dodd-Frank Bill, Bank of America Debit Card Fees, Video, Business News

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'...

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

The Huffington Post | Jillian Berman | Posted 12.26.2011

Read More: Big Banks Profits, Business News, Bank of America, Brian-Moynihan-Bank-of-America-Debit-Card-Fee, Banking News, Brian Moynihan Crtics, Brian Moynihan, Big Banks, Debit Card Fees, Bank of America Debit Card Fees, Video, Business News

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 ...

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

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

Read More: Proprietary Trading, Financial Reform, Business News, Banking News, Big Banks, Paul Volcker, Volcker Rule, Financial Regulation, Dodd-Frank Bill, Business News

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...

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Big Banks Still Raking In Billions From Overdraft Fees

Posted 12.21.2011

Read More: Video, Bank Fees, Business News, Overdraft Fees, Banking News, Overdraft Protection, Overdrafts, Big Banks, Debit Card Fees, Business News

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...

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Florida Bank Backed By TARP Money, Used By Insiders Verging On Collapse

Posted 12.19.2011

Read More: Video, Florida-Banks, U.S. Century Bank, TARP Money, Business News, Banks, Banking News, Insider Lending, Business News

By Jake Bernstein, ProPublica U.S. Century Bank rocketed into being in 2002, with investors pouring in $30 million over three months. Four years ...

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Morgan Stanley Nets Billions In Profit, After Loss Last Year

Posted 12.19.2011

Read More: Business News, Big Banks Profits, Investment Banks, Earnings, Banking News, Quarterly Earnings, Video, Morgan Stanley, Big Banks, Morgan Stanley Profit, Business News

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 a...

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

The Huffington Post | Bonnie Kavoussi | Posted 12.18.2011

Read More: Earnings, Goldman Sachs Loss, Investment Banks, Goldman Sachs, Earnings Report, Quarterly Earnings, Video, Goldman Sachs Earnings, Banking News, Goldman Sachs 428 Million Loss, Big Banks, Business News

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

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Bank Of America Nets $6.2 Billion Profit

The Huffington Post | Jillian Berman | Posted 12.18.2011

Read More: Earnings, Quarterly Earnings, Bank of America Earnings Report, Video, Bank of America Earnings, Bank of America Profits, Bank of America, Business News, Banking News, Bank of America Profits 2011, Business News

Bank of America earned billions of dollars in profits last quarter, even as banking officials expressed concern recently about the effects of new regu...

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

Posted 12.17.2011

Read More: Video, Serica Debit Card Fees, Business News, Unbanked, Banking News, Underbanked, Big Banks, Credit Unions, Checking Account Fees, Business News

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 c...

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Protesters To Occupy London, Rome, Madrid Saturday

Posted 12.14.2011

Read More: Business News, Occupy-London-Stock-Exchange, Banking News, Video, Protesters Occupy London, Big Banks, Income Inequality, Wealth Gap, Occupy Wall Street, Business News

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 ...

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Three Big Banks On Review For Possible Downgrade

Posted 12.13.2011

Read More: Fitch Ratings, Goldman Sachs, Video, Morgan Stanley, Wall Street News, Goldman Sachs Downgrade, Business News, Bank of America, Banking News, Downgrade, Big Banks, Business News

Fitch Ratings placed Bank of America Corp , Morgan Stanley and Goldman Sachs Group Inc on review for possible downgrades on Thursday. The ratin...

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Community Bank To Pay Customers To Open Accounts In Response To BofA's Fees

Posted 10.14.2011

Read More: Video, Community Banks, Business News, Community Bank Pays Customers, Banking News, Big Banks, Regional Banks, Debit Card Fees, Bank of America Debit Card Fees, Checking Account Fees, Business News

While many banking giants are starting to charge fees for debit card use and other once-free services on checking accounts, one regional bank is doing...

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Report: Goldman Tells Staffers To Stay Away From Protests

The Huffington Post | Jillian Berman | Posted 12.13.2011

Read More: Goldman Sachs, Video, Wall Street, Wall Street News, Occupy Wall Street Protests, Occupy Wall Street, Business News, Goldman Sachs Occupy Wall Street, Banking News, Former-Goldman-Sachs-Employees, Privacy Policy, Big Banks, Business News

Goldman Sachs employees better not think of grabbing lunch or taking in the scenery at Zucotti Park. "The firm” as it’s known among its workers ha...

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JPMorgan Chase To Lay Off 1,000 Over 18 Months

Posted 10.13.2011

Read More: Earnings, JP Morgan Chase, Video, Quarterly Earnings, Jp Morgan Chase Q3 Earnings, Business News, Banking News, Bank Earnings, Big Banks, Jamie Dimon JP Morgan, Business News

(Reuters) - JPMorgan Chase & Co's quarterly earnings fell 25 percent, excluding an accounting gain, as European financial turmoil reduced demand f...

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Citigroup CEO: Occupy Wall Street's Sentiments Are 'Completely Understandable'

Posted 12.12.2011

Read More: Vikram Pandit, Citigroup CEO, Video, Banking-News, Pandit Occupy Wall Street, Occupy Wall Street Protests, Occupy Wall Street, Business News, Citigroup CEO Vikram Pandit, Big Banks, Citigroup, Business News

Vikram Pandit, CEO of one of the most visible Wall Street institutions in Citigroup, said he thinks the sentiments of the Occupy Wall Street protester...

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After Fee Announcements, Banks Offer Best Customers Cheap Cash

The Huffington Post | Jillian Berman | Posted 12.12.2011

Read More: JP Morgan Chase, Video, Cheap Cash, Wells Fargo, Business News, Bank of America, Banking News, Swipe Fees, Credit Card Balance Transfer, Big Banks, Debit Card Fees, Citigroup, Business News

As big banks ratchet up fees on once-free checking accounts, they’re looking to entice some of their most credit-worthy customers to take on more de...

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Regulator Charges Three Former Execs. From Failed California Bank

Posted 12.11.2011

Read More: Sec United Commercial Bank, Business News, Banking News, Video, Bank Failures, Failed California Bank, Securities and Exchange Commission, United-Commercial-Bank, Business News

Securities regulators on Tuesday charged three former executives of United Commercial Bank with misleading investors about loan losses before the ...

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Wall Street Says It Expects Bonuses To Be Just As Big This Year

The Huffington Post | Jillian Berman | Posted 12.10.2011

Read More: Bonus Expectations, Video, Wall Street, Dodd-Frank, Bonus Outrage, Business News, Banking News, Bonuses, Executive Compensation, Wall Street Bonuses, Bank Bonuses, Business News

While most Americans aren’t expecting their incomes to rise with the cost of living in the near future, more than 60 percent of Wall Street professi...

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Lehmen Sued Goldman Unit For Canceling Sale

Posted 12.07.2011

Read More: Goldman Sachs, Video, Banking-News, Lehman Brothers, Business News, Goldman Sachs Lehman Brothers, Goldman-Sachs-Sued, Big Banks, Business News

A unit of Lehman Brothers Holdings Inc (LEHMQ.PK) sued an affiliate of Goldman Sachs Group Inc (GS.N), saying it used pretextual excuses to avoid ...

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BofA CEO: We Have A 'Right To Make A Profit'

Posted 12.06.2011

Read More: Brian Moynihan, Banking-News, Brian Moynihan Bank of America Debit Card Fee, Bank of America, Business News, Retail Banking, Big Banks, Consumer-News, Bank of America Debit Card Fees, Video, Business News

Bank of America CEO Brian Moynihan has said his bank’s new $5 fee debit card fee is justified because the bank “has a right to make a profit,” a...

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Bank Of America Blames Website Issues On Upgrade

Posted 12.06.2011

Read More: Video, Banking-News, Bank of America Website, Bank of America Online Banking, Business News, Bank of America, Bank of America Website Down, Online Banking, Bank of America Website Issues, Big Banks, Business News

Bank of America Corp (BAC.N) said an ongoing upgrade and heavy traffic was behind six days of problems with its banking website, easing concerns a...

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Bank Of America Website Issues Continue [UPDATE]

AP | By CANDICE CHOI | Posted 11.30.2011

Read More: Bank of America, Business News, Video, Banking-News, Bank of America Website, Website-Problems, Bank of America Online Banking, Business News

By Candice Choi The Associated Press NEW YORK (AP) -- Bank of America's homepage and online banking service were still experiencing problems Frida...

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