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Banking News

Why Isn't the Government Monitoring the Banks?

Brian Penny | Posted 07.14.2013 | Business
Brian Penny

Snowden recently released info showing Microsoft is working with the government, granting backdoor access to monitor private citizens for terrorist ac...

Drop Trou, Lose Everything

The Huffington Post | Ron Dicker | Posted 09.05.2012 | Money

Perhaps banks should be more specific in the HR handbook: Don't drop trou and point your rear at the boss. An Illinois appeals court ruled last wee...

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 get...

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 ...

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...

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

Posted 12.19.2011 | Business

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

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 a...

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 ...

Bank Of America Nets $6.2 Billion Profit

The Huffington Post | Jillian Berman | Posted 12.18.2011 | Business

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

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 c...

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 ...

Three Big Banks On Review For Possible Downgrade

Posted 12.13.2011 | Business

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

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

Posted 10.14.2011 | Business

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...

Report: Goldman Tells Staffers To Stay Away From Protests

The Huffington Post | Jillian Berman | Posted 12.13.2011 | Business

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...

JPMorgan Chase To Lay Off 1,000 Over 18 Months

Posted 10.13.2011 | Business

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

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

Posted 12.12.2011 | Business

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...

After Fee Announcements, Banks Offer Best Customers Cheap Cash

The Huffington Post | Jillian Berman | Posted 12.12.2011 | Business

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...

Regulator Charges Three Former Execs. From Failed California Bank

Posted 12.11.2011 | Business

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

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

The Huffington Post | Jillian Berman | Posted 12.10.2011 | Business

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...

Lehmen Sued Goldman Unit For Canceling Sale

Posted 12.07.2011 | Business

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 ...

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

Posted 12.06.2011 | Business

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...