SurfWax News Index  |  Track News  |  Save/Exchange Information |  About Us

    News and Articles on Banking

    Archives: Banking

    After the Storm, shift on planners  Nov 23, 2009
    Mr Ripoll said the report would cover problems that it had examined in the banking sector and ''tell it as we see it. The committee has heard damning evidence about systemic failures within Commonwealth Bank and Macquarie Bank that exacerbated problems facing margin loan borrowers introduced by Storm Financial. (Sydney Morning Herald -- Business)

    A China syndrome of growth before any hint of reform  Nov 23, 2009
    At the start of the year, Ding Wei, a former World Bank economist who heads investment banking at China International Capital Corporation, laid out the test for measuring Beijing's management of the post-crisis economy ... " Most of the growth in new projects is being driven by local governments, often financed by leaning on local banks to fund opaque government investment vehicles. The question for China economists was whether this short-term construction fix for its overbuilt economy would be... (Sydney Morning Herald -- Business)

    UK police make 2 Trojan computer virus arrests  Nov 23, 2009
    The viruses are commonly known as Trojans because they sneak onto computers and attack it from the inside, harvesting millions of lines of data including banking information, credit card numbers and social networking passwords. The viruses spread by sending e-mails or other messages from infected computers, impersonating banks, tax officials, credit card companies or even friends and enticing potential victims to click on a link. (Yahoo News -- Technology)

    Bank’s woes beyond money  Nov 23, 2009
    Recruiting politicians to the board of a new bank is Small Town Banking 101 ... Banking lawyer James Stevens said such loans are good business, and federal banking rules allow insiders borrowing to go as high as the bank s total capital. (Atlanta Journal-Constitution -- Business)

    Congress focuses its anger on Fed  Nov 23, 2009
    Senate Banking Committee chairman Chris Dodd, a Connecticut Democrat, who will preside over Bernanke s confirmation hearings, has proposed stripping the Fed of its bank regulation authority and giving the Senate a role in selecting the 12 regional Federal Reserve bank presidents. Dodd says his measure would return the Fed to its core mission of setting monetary policy, claiming it proved itself an abysmal failure by not cracking down on risky lending practices. (Boston Globe)

    Is It Good to Apologize for Greed?  Nov 23, 2009
    Harriman's allies included the oil-rich Rockefellers and Jacob Schiff, patriarch of Kuhn, Loeb and Morgan's only real investment banking rival. The feud led spectacularly to the largest market crash in a century, writes historian Ron Chernow in. (BusinessWeek)

    Asian Currencies Rise, Led by Philippine Peso, on Growth, Trade Optimism  Nov 23, 2009
    Stronger and expectations of higher growth will give the peso more breathing space towards December, said , head of trading at Rizal Commercial Banking Corp. in Manila. Taiwan Exports. (Bloomberg -- Asia)

    Fighting Hunger in a Land of Plenty  Nov 23, 2009
    Food Banks Are Busier Than Ever, as a Bountiful Harvest of Donations Goes to the Urgent Need of Helping Those Without. Feeding America helps distribute donated food to agencies across the United States. (CBS News -- US)

    Working together  Nov 23, 2009
    "That's what the old Industrial and Commercial Finance Corporation did successfully for 50 years after the war: why not reinvent it? "Why not make it easier for companies to raise money locally, perhaps through new regional banking and investment institutions. " Wealth generatorsIn the years ahead, companies will come to realize to a greater extent than previously that they depend on each other, Mr Lambert points out. "Firms looking to reduce risk and acknowledge their interdependence are... (BBC News -- UK)

    King Pharmaceuticals May Climb as Battered Drug Firms Lure Private Equity  Nov 23, 2009
    The credit markets are saying the companies arent going out of business, so their price has held up, but the equity markets wonder what the prospects are for growth, said Lane, a former head of health-care investment banking at Bear Stearns Cos. There are more targets. (Bloomberg -- US)

    Senegal: Under Pressure, Wade Eyes Third Term for Party  Nov 23, 2009
    Meanwhile, to gain a third victory, President Wade is no longer banking on the marvellous infrastructure and political gains he has earned since he came to power in 2000, such as the beautiful roads in the capital and in other regions of the country, the string of rural university campuses and the hundreds of kindergartens he built throughout the country, mechanised agricultural projects and the reduction of the presidential mandate from seven to five years. The President has chosen to mend... (allAfrica.com)

    North Fork Agrees to Buy GreenPoint for $6.3 Billion  Nov 23, 2009
    Betting that consumer banking will remain a fast-growing business, even after several years of expansion, the North Fork Bancorporation said yesterday that it had agreed to acquire the GreenPoint Financial Corporation for $6 ... "There is no question the consumer model works,'' the chief executive of North Fork, John A. Kanas, said in an interview yesterday. He said that his bank was eager to acquire GreenPoint, which is based on Park Avenue in Manhattan, because of the "scarcity value" of... (Yahoo News -- Banking & Financial Services)

    Nigeria: When Bankers Steal [editorial]  Nov 23, 2009
    When bankers steal, the whole concept of banking becomes meaningless ... Coming on the heels of the recent banking reforms during which nine Managing Directors of banks and their Executive Directors were removed for various offences including inappropriate use of depositors funds, the NDIC report and the alarm it has raised about the rot in the banking industry, speaks for many people ... Many Nigerians are alarmed that the traditional core values of banking are being deeply eroded. (allAfrica.com)

    Bank's profit to top 6bn  Nov 23, 2009
    As well as retail banking, RBS owns the Direct Line insurance business, and private bank Coutts, which caters for 70,000 wealthy clients ... Gordon Brown, the Chancellor, took steps to cut the cost of business banking two years ago, after accusing the high street banks of making 2. (Yahoo News -- Banking & Financial Services)

    It doesn't pay to save these days  Nov 23, 2009
    "Savers are getting killed by these low rates," banking analyst Bert Ely said. "They're getting next to nothing.". (Honolulu Advertiser)

    Fed Makes Monitoring Capital Adequacy Foremost Concern Amid Talk of Bubble  Nov 23, 2009
    The Fed is already under pressure from Dodd, chairman of the Senate Banking Committee, who proposed legislation Nov. 10 to strip the central bank of its supervisory authority ... chairman of the China Banking Regulatory Commission, warned Nov. 15 of new, real and insurmountable risks to the recovery of the global economy ... 59 billion, the highest since the 2007 collapse of the subprime-mortgage market, as investment-banking revenue helped it overcome losses on consumer loans. (Bloomberg -- Canada)

    Smaller, local banks looking good  Nov 23, 2009
    If you listen to personal money management experts like Clark Howard or Dave Ramsey, you will think the people in the banking business are bad ... Three new credit unions have opened in the Hill Country and I will join in with Ramsey and Howard if you are interested in consumer banking: stick with a credit union or find you a nice little bank. (Cedar Park Hill Country News Weekender, TX)

    Plan ahead: high interest accounts at 5.46 percent  Nov 23, 2009
    No need to switch banks - keep your current bank account for your day to day banking ... Access via Branches, ATMs, Cheques, EFTPOS, Internet and Phone Banking, Bank@Post. (Sydney Morning Herald -- Sport)

    Japan wants yen to be the anchor of Asia  Nov 23, 2009
    "At 109 it is over-valued. It should be at 125 to 130. Big companies have no real problems because they have global production, but the smaller companies do have problems. The market is not working in favour of a cheaper yen." He dismissed market rumours that the intervention in the currency markets was being "sterilised" by the authorities in an attempt to prevent too much liquidity building up in Japan's banking system. The senior official expressed some surprise that policy makers in the... (Yahoo News -- Asian Economy)

    Mobilise your life  Nov 23, 2009
    Monday morning to-do list: monthly banking; pay TV licence; look over some new Retirement Annuity products; and buy tickets for the Killers concert ... Furthermore, a significant number of South Africans have limited access to banking and financial services ... The banking and payment industries have, however, been taking tentative steps into the mobile commercial space with varying degree of success. (iAfrica.com)

    Bullard Says Fed Should Retain Authority to Extend Asset-Purchase Program  Nov 23, 2009
    Senate Banking Committee Chairman has proposed stripping bank-supervision authority from the Fed and its regional banks ... Bullard said there must be a substantial Fed role in regulation of banking and financial institutions. (Bloomberg -- US)

    Dam plan for Valley a distant dream  Nov 23, 2009
    If the bond passes, the moribund California Water Commission will instantly get new life as the distributor of $3 billion for storage, including dams and underground water banking. The nine-member, governor-appointed commission has been around for decades and taken on various roles, including advising the state Department of Water Resources on the State Water Project, the largest state-built water system in the United States. (Fresno Bee -- Local)

    Tax money processed in Portland  Nov 22, 2009
    U.S. Bank only handles the county s tax assessments, not all of its banking. (I Want to Know is a regular feature of The World, offering readers a chance to anonymously ask questions and have reporters pursue answers. (Coos Bay-North Bend The World, OR)

    McAfee Warns about "12 Scams of Christmas"  Nov 22, 2009
    E-mail banking scams: A common type of phishing scam is sending out official looking e-mails that appear to come from your bank. Don't click on any links but type in your bank's Web address manually if you need to access your account. (CBS News)

    Deal canceled, but $750 bank fee becomes issue  Nov 22, 2009
    A good night's sleep was all Allen Kovler needed to realize he'd spoken too quickly when he told a banking representative he wanted to go forward with refinancing the mortgage on his Catskill home. All the numbers and details they'd discussed on the telephone weren't quite adding up. (Albany Times Union)

    Equatorial Guinea: Secret Documents Reveal Multi-million Dollar Shopping Spree by Dictator's Son [press release]  Nov 22, 2009
    "This was a spectacular moral failing by the banks, and reveals a disturbing chain of gaps in the design and implementation of the anti-money laundering laws. In 2004, the U.S. bank, Riggs, was fined $41 million and sold off at a discount after a Senate inquiry uncovered it was banking for the corrupt Obiang family. Have no lessons been learnt at all?" Ms Lawson said. The documents were written by investigators from the Justice Department and ICE to request information from French law... (allAfrica.com)

    How the FHA Loan has come to rescue ...  Nov 22, 2009
    It was the era of the Great Depression when the banking industry failed, just as we have today ... The banking crisis of the 1930s scared so many lenders to recall their loans. (Ghana Web, Ghana)

    Morocco -- Preliminary Findings of the 2009 Article IV Consultation  Nov 22, 2009
    The authorities have announced their intention to raise this ratio to 12 percent for certain banking institutions, based on their risk profile, while taking into account the overall economic situation. The authorities have also continued to strengthen their capacity in stress testing and macro-prudential analysis. (IMF News)

    Green light for higher rates  Nov 22, 2009
    Addressing a banking conference in Sydney, Dr Debelle said ''margins on variable rate housing lending relative to bank funding costs have actually declined a little over the past two years. While acknowledging that the banks had increased the margin between their standard variable home rates and the Reserve Bank's cash rate, he said that was only part of the story. (Sydney Morning Herald -- Business)

    Agency mergers in Barbour's proposal  Nov 22, 2009
    The Department of Banking and Consumer Finance ... In contrast, the merger of the secretary of state's office and the Department of Banking and Consumer Finance would save about $1 million, Hipp said ... The Banking and Consumer Finance Department, which regulates most financial institutions, employs 59 people; its budget is more than $6 million, said John Allison, banking commissioner. (The Clarion-Ledger)

    Nigerian farms blossom as Zim farmers move on to the land  Nov 22, 2009
    They are producing large, so we are positioning ourselves to be able to move these large quantities of farm produce to anywhere in the world," said Razak Atunwa, the state commissioner for works and transport. Back seat Nigeria's agricultural sector has taken a back seat since the country started producing oil more than five decades ago. The Shonga farms are jointly financed by Nigerian banks, which have a 45 percent stake in the project, while the Zimbabwean farmers and the Kwara state... (Business Report, South Africa)

    Alarm over bank's bid to sign up schoolkids  Nov 22, 2009
    A $40 MILLION attempt by the Commonwealth Bank to revive school banking is worrying principals, who believe it will be used to recruit cradle-to-the-grave customers ... The bank began operating school banking in primary schools 80 years ago when it was government-owned ... Mr Norris said reinvigorating school banking over the next five years would improve the financial literacy for 1 million children. (Sydney Morning Herald -- Australia)

    State smoking ban not an ‘equal opportunity' impact  Nov 22, 2009
    He's banking on the recent remodeling at the Squire to draw a good crowd, both smokers and nonsmokers. "We're really excited about it," he said. (Montana Standard, MT)

    Stocks may face abnormal swings  Nov 22, 2009
    They can easily create market volatility but not necessarily a bubble, said Nipun Mehta, executive director and head of India at SG Private Banking. More such funds are coming in, which may increase volatility. (India Times)

    Troubled assets grow more than capital  Nov 22, 2009
    The Texas Ratio is a formula created by banking analyst Gerard Cassidy during the savings and loan crisis of the early 1990s by calculating a bank s nonperforming assets against its loan loss reserves and tangible equity, or capital. It s a simple measure of credit risk exposure facing a bank relative to the size of the bank s ability to bear this credit risk, said Tony Plath, associate professor of finance at the University of North Carolina at Charlotte. (Jacksonville Business Journal, FL)

    Store cards booming  Nov 22, 2009
    Measured by number, more than 87 percent of all new credit facility agreements made in the second quarter were for store cards, known as 'white plastic' in the banking industry, which grant credit with low limits to people who don't qualify for credit cards. Store credit is generally more expensive than credit cards. (iAfrica.com)

    US Fed officials step up asset bubble-watch  Nov 21, 2009
    The Fed is already under pressure from Dodd, chairman of the Senate Banking Committee, who proposed legislation Nov. 10 to strip the central bank of its supervisory authority ... Liu Mingkang, chairman of the China Banking Regulatory Commission, warned Nov. 15 of ``new, real and insurmountable risks to the recovery of the global economy ... 59 billion, the highest since the 2007 collapse of the subprime-mortgage market, as investment-banking revenue helped it overcome losses on consumer loans. (Sydney Morning Herald -- Business)

    Japan wants yen to be the anchor of Asia  Nov 21, 2009
    "At 109 it is over-valued. It should be at 125 to 130. Big companies have no real problems because they have global production, but the smaller companies do have problems. The market is not working in favour of a cheaper yen." He dismissed market rumours that the intervention in the currency markets was being "sterilised" by the authorities in an attempt to prevent too much liquidity building up in Japan's banking system. The senior official expressed some surprise that policy makers in the... (Yahoo News -- Asian Economy)

    Smaller, local banks looking good  Nov 21, 2009
    If you listen to personal money management experts like Clark Howard or Dave Ramsey, you will think the people in the banking business are bad ... Three new credit unions have opened in the Hill Country and I will join in with Ramsey and Howard if you are interested in consumer banking: stick with a credit union or find you a nice little bank. (Cedar Park Hill Country News Weekender, TX)

    Chase drops arbitration from card contracts  Nov 21, 2009
    Chase's policy change comes three months after another major card issuer, Bank of America Corp., said it would stop requiring that disputes with its card holders and banking and lending customers be settled through arbitration. Many consumers are unaware that card agreements typically include a clause that waives a card holder's right to sue. (WCAX.com, VT)

    Online Payday Loans Lending practices spark nationwide concerns  Nov 21, 2009
    Chris Romano of the Montana Division of Banking said the same. We are familiar with PDL Ventures, Romano said. (Havre Daily News, MT)

    5 comments  Nov 21, 2009
    China's top banking regulator said the Federal Reserve's money-creating binge was the main cause of "massive speculation." Similar sentiments came from top officials in Hong Kong, Singapore and Japan. And while Ben Bernanke tried to calm dollar worries during his recent speech at the New York Economics Club, it was clear that the greenback's value ranks low on his priority list. (Human Events Online)

    Use common sense  Nov 21, 2009
    Are all the banking employees veterans and are all the state agency employees veterans. The many vterans that I know and have met very seldom are able to have the day off from their jobs of employment, unless they work for the above-listed agencies. (Longview Daily News, WA)

    Should you feel guilty?  Nov 21, 2009
    " But I mean, good for you. Sitting at the on ramp in bad weather looks like more work than an actual job. It's too bad tax cuts for the rich and deregulating the banking industry didn't help. That made so much sense. ". Dovey wrote on Nov 20, 2009 1:43 AM:" The story reminds of the song "What if Jesus comes back like that. (Longview Daily News, WA)

    Tewksbury bank sponsors essay contest  Nov 21, 2009
    Metro is also a leader in workplace banking, serving over 1,800 companies throughout the state. GET UPDATED. (Tewksbury Advocate, MA)

    Prudential Bank now offers MoneyGram service  Nov 21, 2009
    bank's strategy to bring convenience in banking to its customers. Mr Afrane said the bank appreciated the relationship between it and customers and would. (Ghana Web, Ghana)

    Keen for a trip to Iceland?  Nov 21, 2009
    Icelands overextended banking industry collapsed late last year and the country had declared bankruptcy. This led to a free fall of its currency, down by almost 50% to the US dollar this year. (The Star Online, Malaysia -- Business)

    Bank of America CEO Lewis May Delay Retiring: Report  Nov 21, 2009
    The list of prospects has been narrowed to two Bank of America executives, consumer and small-business banking chief Brian Moynihan and Chief Risk Officer Gregory Curl, and at least two outsiders, the report said. (Reporting by Steve James; Editing by Sugita Katyal). (ABC News -- Business)

    Time Warner, News Corp Reported Interested in MGM  Nov 21, 2009
    85 billion by a group including private equity firms Providence Equity Partners; TPG; DLJ Merchant Banking Partners, a unit of Credit Suisse; and Quadrangle Group; and media firms Sony and Comcast Corp. The group also assumed a debt of $2 billion. (Reporting by Steve James; Editing by David Fox). (ABC News -- Business)

    Your 10 questions  Nov 21, 2009
    What made you decide to give up your banking career for a little start-up. Presna Nair, KL. (The Star Online, Malaysia -- Business)

    Bank's profit to top 6bn  Nov 21, 2009
    As well as retail banking, RBS owns the Direct Line insurance business, and private bank Coutts, which caters for 70,000 wealthy clients ... Gordon Brown, the Chancellor, took steps to cut the cost of business banking two years ago, after accusing the high street banks of making 2. (Yahoo News -- Banking & Financial Services)

    North Fork Agrees to Buy GreenPoint for $6.3 Billion  Nov 21, 2009
    Betting that consumer banking will remain a fast-growing business, even after several years of expansion, the North Fork Bancorporation said yesterday that it had agreed to acquire the GreenPoint Financial Corporation for $6 ... "There is no question the consumer model works,'' the chief executive of North Fork, John A. Kanas, said in an interview yesterday. He said that his bank was eager to acquire GreenPoint, which is based on Park Avenue in Manhattan, because of the "scarcity value" of... (Yahoo News -- Banking & Financial Services)

    White House at odds with bishops over abortion  Nov 21, 2009
    is at left, Senate Banking Committee Chairman Sen. Christopher Dodd, D-Conn. (Atlanta Journal-Constitution -- Health)

    Dayton SBA lending drops in '09  Nov 21, 2009
    Local banking officials point to decreased demand for SBA loans, as fewer businesses were expanding in the past 12 months. The main areas SBA loans are used in are new facilities and new equipment, two types of capital purchases that most businesses put on hold because of the recession. (Dayton Business Journal, OH)

    Small Florida Bank Shuttered, 124th This Year  Nov 21, 2009
    Florida banking regulators on Friday shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling economy and rising loan defaults ... The banking crisis has grown so intense that it has started to capture banks that regulators deemed healthy only months ago. (ABC News -- Wire)

    Nigeria: Swiss Authorities Convict Abacha's Son of Graft  Nov 21, 2009
    In a 2002 report, the Swiss Federal Banking Commission said 19 banks had dealings with Abacha and did not report suspicions of money laundering to the Swiss authorities ... "The mere fact that significant assets of dubious origin, from people close to former Nigerian President Sani Abacha, were deposited at Swiss banks is highly unsatisfactory and damages the image of Switzerland as a financial centre," Banking Commission chairman Kurt Hauri said in 2002 after a 10-month investigation. (allAfrica.com)

    How Asterix melted Swiss cheese and hearts  Nov 21, 2009
    As expected, the 16th of 34 adventures pokes gentle fun at national stereotypes, from banking secrecy and an obsession with cleanliness to fondues and military service ... Swiss banking security - those were the days. (SwissInfo.org, Switzerland)

    Dutch govt to inject further US$4.5bil into ABN Amro  Nov 21, 2009
    For Deutsche it marks yet another opportunistic acquisition to diversify its revenues away from investment banking, after buying a stake in Deutsche Postbank AG and an agreement to buy wealth manager Sal. Oppenheim. (The Star Online, Malaysia -- Business)

    YESTERYEARS FOR SATURDAY, NOVEMBER 21, 2009  Nov 21, 2009
    He makes Backyard Banking work. For you. (Pine Bluff Commercial, AR)

    Americans Save More but Earn Less as Rates Fall  Nov 21, 2009
    "Savers are getting killed by these low rates," banking analyst Bert Ely said. "They're getting next to nothing.". (ABC News -- Wire)

    Need an app for that?  Nov 21, 2009
    There are apps for banking, phony conversations, and apps pinpointing the closest restaurant or gas station from where a user is located. Mindgrub Technologies is another local firm putting some skin in the game and joining the craze behind the app explosion. (San Jose Business Journal, CA)

    Congress Rips Obama on Slow Recovery  Nov 21, 2009
    Dodd, chairman of the Senate Banking Committee, chose the marbled Caucus Room in the Russell Senate Office Building -- site of past hearings on Watergate, Pearl Harbor and the Wall Street abuses during the Great Depression -- to open debate on a massive draft bill designed to achieve the most ambitious reworking of the financial system in decades. "This is one of those moments in our nation's history that compels us to be bold," Dodd said. (CBS News -- US)

    UK police make 2 Trojan computer virus arrests  Nov 21, 2009
    The viruses are commonly known as Trojans because they sneak onto computers and attack it from the inside, harvesting millions of lines of data including banking information, credit card numbers and social networking passwords. The viruses spread by sending e-mails or other messages from infected computers, impersonating banks, tax officials, credit card companies or even friends and enticing potential victims to click on a link. (Yahoo News -- Technology)

    Credit card Catch-22  Nov 21, 2009
    My suggestion is to look into your local Credit Union/s for fair and honest banking services. sally. (Atlanta Journal-Constitution -- Business)

    Bank's profit to top 6bn  Nov 20, 2009
    As well as retail banking, RBS owns the Direct Line insurance business, and private bank Coutts, which caters for 70,000 wealthy clients ... Gordon Brown, the Chancellor, took steps to cut the cost of business banking two years ago, after accusing the high street banks of making 2. (Yahoo News -- Banking & Financial Services)

    UTI spreads its wings across overseas markets  Nov 20, 2009
    Plans include new funds based in Luxembourg and Singapore, to add to its existing palette of focused, generic and feeder funds, managing T Rowe Prices existing $2-billion investments into India, and a thrust into the private banking and wealth management arena. UK Sinha, chairman of UTI, said, The skys the limit for growth. (India Times)

    Citigroup CEO Pandit vows Boston growth  Nov 20, 2009
    He said Citigroup is back to banking basics, though its problems stem, in part, from grand designs on being a global financial supermarket. Pandit swears those days are over. (Boston Business Journal, MA)

    Smaller, local banks looking good  Nov 20, 2009
    If you listen to personal money management experts like Clark Howard or Dave Ramsey, you will think the people in the banking business are bad ... Three new credit unions have opened in the Hill Country and I will join in with Ramsey and Howard if you are interested in consumer banking: stick with a credit union or find you a nice little bank. (Cedar Park Hill Country News Weekender, TX)

    House committee approves fees for financial institutions  Nov 20, 2009
    The Senate Banking Committee began its own rewrite of the rules that govern Wall Street on Thursday, and Treasury Secretary Timothy Geithner prodded Congress to move quickly on the measures. In seeking to have large firms pay up-front fees for dismantling failing non-bank financial institutions, the money would be paid into a $150 billion "dissolution fund" by firms with assets of more than $50 billion. (AZCentral -- Business)

    White House at Odds With Bishops Over Abortion  Nov 20, 2009
    is at left, Senate Banking Committee Chairman Sen. Christopher Dodd, D-Conn. (ABC News -- Business)

    President Zero Sum Goes to Asia  Nov 20, 2009
    China's top banking regulator said the Federal Reserve's money-creating binge was the main cause of "massive speculation." Similar sentiments came from top officials in Hong Kong, Singapore and Japan. And while Ben Bernanke tried to calm dollar worries during his recent speech at the New York Economics Club, it was clear that the greenback's value ranks low on his priority list. (Human Events Online)

    Mammography Debate Puzzles Many  Nov 20, 2009
    This latest 'expert' recommendation is just another way for the insurance companies/banking industry to use a third party agencyto validate a reduction in health care spending ... haha The banking and insurance industry lobbyists are the ones who are taking care of business ... I worry when the government and banking/insurance industry makes that decision for us, especially when it is based on profit margin, nothing more. (CBS News)

    Getting more out of ATM machines  Nov 20, 2009
    Social value to extending ATM services, it may help narrow the "digital divide RELATED TOPICS (CNN) -- When reading this article, you will most likely fall into one of two groups. Either you are surprised to hear that bank ATMs are used as multi function kiosks all over the world, where customers can book train tickets, top up their cell phone credit and pay bills; or you are someone for whom these services are an everyday reality already. This split arises because, when it comes to ATM use the... (CNN -- International)

    Economy showing signs of sustained growth  Nov 20, 2009
    He urged Congress to pass a financial regulation overhaul intended to strengthen the banking system and guard against market-driven excess, to avoid a repeat of the worst crisis since the Great Depression. Congress is considering a plan that includes changes to oversight of large banks, consumer protection, and derivatives. (Boston Globe)

    Capping credit card rates would benefit banks and consumers  Nov 20, 2009
    That would be the same government that saved the banking industry with unprecedented market intervention. Credit card debt wasn t the economy s only problem, or even its biggest. (Boston Globe)

    New CEO may position Associated for acquisitions  Nov 20, 2009
    Not only are bank analysts and banking competitors speculating about Associated Bank s plans, but retiring CEO Paul Beideman also raised the issue at an investment conference last week. He said executives are considering acquisitions, possibly of a bank being closed by the Federal Deposit Insurance Corp.. (Milwaukee Business Journal, WI)

    Geithner, Under Fire, Defends AIG Bailout  Nov 20, 2009
    The U.S. House of Representatives Financial Services Committee has been working on a bill for weeks, and the Senate Banking Committee kicked off a similar effort on Thursday. Senator Richard Shelby, the top Republican on the Senate panel, said he would not support a bill put forward by Senator Christopher Dodd, the Democrat who chairs the committee, and called for a "complete rewrite. PRESSURE ON BAILOUTS, CHINA Geithner said because the United States had no authority to seize and wind down... (ABC News -- Wire)

    US Panel Sets Fees for Big Firms, Aims to Slow Fed  Nov 20, 2009
    The votes were the final brush strokes to the House Financial Services Committee's response to last year's banking meltdown ... The Senate Banking Committee began its own rewrite of the rules that govern Wall Street on Thursday, but the committee's top Republican panned the bill proposed by its chairman, Democrat Christopher Dodd. (ABC News -- Wire)

    Tax offers Pakistanescape from poverty  Nov 20, 2009
    In parallel, the banking industry that has been swimming in profits - with takings of 123. 6 billion rupees in 2006 alone - yet have had their tax rate reduced to 35% from 38. (Asia Times Online)

    Rahm Emanuel: Obama Will Cut Deficit  Nov 20, 2009
    The deficit has soared as the recession depressed tax revenue, the $787 billion stimulus package increased government spending and bailouts in the banking and auto industries did the same. The Obama administration may have a rocky path to achieve its goals of boosting employment and cutting deficits at the same time. (Newsmax)

    Financial Regulation Overhaul Proposals in U.S.: Side-by-Side Comparison  Nov 20, 2009
    Companies would not have to offer low-cost, plain vanilla products or assess a consumers ability to understand them -- two Obama provisions the banking industry lobbied to block ... INDUSTRY -- Bankers argue that a single regulator would undermine the two-tiered, federal-state banking system and would focus more on big banks to the detriment of community banks. (Bloomberg -- US)

    Fed Makes Monitoring Capital Adequacy Foremost Concern Amid Talk of Bubble  Nov 20, 2009
    The Fed is already under pressure from Dodd, chairman of the Senate Banking Committee, who proposed legislation Nov. 10 to strip the central bank of its supervisory authority ... chairman of the China Banking Regulatory Commission, warned Nov. 15 of new, real and insurmountable risks to the recovery of the global economy ... 59 billion, the highest since the 2007 collapse of the subprime-mortgage market, as investment-banking revenue helped it overcome losses on consumer loans. (Bloomberg -- US)

    North Fork Agrees to Buy GreenPoint for $6.3 Billion  Nov 20, 2009
    Betting that consumer banking will remain a fast-growing business, even after several years of expansion, the North Fork Bancorporation said yesterday that it had agreed to acquire the GreenPoint Financial Corporation for $6 ... "There is no question the consumer model works,'' the chief executive of North Fork, John A. Kanas, said in an interview yesterday. He said that his bank was eager to acquire GreenPoint, which is based on Park Avenue in Manhattan, because of the "scarcity value" of... (Yahoo News -- Banking & Financial Services)

    Carney Shows How Canada Controls Risk So Central Banks Worldwide Can Too  Nov 20, 2009
    He played his cards well, said , a fixed- income strategist at RBC Capital Markets, who was chief strategist at Goldman Sachs in Toronto when Carney ran the firms Canadian investment-banking operations ... He coaches his daughter at soccer, which is kind of remarkable if you think about that: the governor of the Bank of Canada standing on the side of a soccer field, said , 44, who used to work at Goldman Sachs and is now head of global investment banking for RBC Capital Markets ... In... (Bloomberg -- Canada)

    China Banks Filling Syndicated Loan Void as Royal Bank, Citigroup Retreat  Nov 20, 2009
    The Banking Regulatory Commission told city banks last month to avoid the blind pursuit of size after surged to a record 8 ... The geographic footprint of Chinese banks is such that if, for example, we had banking requirements in the Middle East, they would be there too, he said. (Bloomberg)

    Archives: Banking

    Back to Personal Finance News

[ Terms Of Use | Privacy | About ]
©1998-2009 SurfWax, Inc.
All rights reserved. Patents pending.



Copyright SurfWax, Inc. 2009