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Posts related to ‘Banking’

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Fed Slaps J.P. Morgan on the Wrist for London Whale

Posted: January 14, 2013 at 4:29 pm

For all the problems that the "London Whale" incident cost J.P. Morgan Chase & Co. (NYSE: JPM) and the markets in general, the sanctions handed down by the Federal Reserve ...
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Mortgage Delinquencies Rise in November

Posted: January 14, 2013 at 9:45 am

Mortgage industry technology and services company Lender Processing Services Inc. (NYSE: LPS) reported today that mortgage delinquencies rose to 7.12% in November 2012, up from 7.03% in October, but down ...
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J.P. Morgan to Receive Nasty Letter from Feds — Reuters

Posted: January 11, 2013 at 7:23 am

In an exclusive report from Reuters this morning, “people familiar with the situation” say that the Office of the Comptroller of the Currency (OCC) will end its investigation into certain ...
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AmEx Releases Earnings Early: With 5,400 Layoffs!

Posted: January 10, 2013 at 4:19 pm

American Express Co. (NYSE: AXP) is not usually the first of the financial DJIA stocks to report its earnings in the quarter. The credit card issuer just announced its earnings ...
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US Treasury building

10-Year Treasury Auction Sets Poor Tone for 30-Year Auction

Posted: January 9, 2013 at 1:29 pm

Treasury prices had firmed in recent days, taking the yield of the 10-Year Treasury note further away from breaking back above the 2.0% mark. Now a new 10-year auction has ...
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Mobile Banking Users to Double in Five Years

Posted: January 9, 2013 at 12:13 pm

The number of global customers who use mobile banking services will rise to more than 1 billion by 2017, according to a new report from U.K.-based firm Juniper Research. At ...
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Credit Suisse Downgrades BofA, Favors Other Banks (CS, BAC, JPM, C, USB)

Posted: January 9, 2013 at 7:24 am

Credit Suisse (NYSE: CS) downgraded its rating on Bank of America Corp. (NYSE: BAC) due to valuation after such a monumental rise. After all, the bank was the top-performing DJIA ...
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Foreclosed home

Banks Agree to Pay $8.5 Billion for Foreclosure Missteps

Posted: January 7, 2013 at 12:38 pm

The Office of the Comptroller of the Currency and the Federal Reserve announced this morning that the agencies have reached an agreement with 10 banks to settle enforcement actions related ...
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Bank of America

New Basel Bank Rules Lack Transparency

Posted: January 7, 2013 at 4:37 am

A softening of the liquidity rules set by the Basel III accord are based on revisions that probably will help profits at the world's largest banks for now and may increase their lending. The change ...
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Beware the Sharp Rise in Treasury Yields (GS, TBT, TLT, MORT, XHB)

Posted: January 4, 2013 at 11:48 am

Interest rates are nearly zero and the Federal Reserve has pledged to keep them that way until unemployment reaches 6.5% and as long as inflation does not get to a ...
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Home Foreclosures, Shadow Inventory Continue to Fall

Posted: January 3, 2013 at 1:03 pm

In the month of November, 55,000 U.S. homes were foreclosed, down from 59,000 in October and down from 72,000 in November 2011, according to research firm CoreLogic (NYSE: CLGX). While ...
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House for Sale

Mortgage Applications Suffer Steep Drop

Posted: January 3, 2013 at 7:19 am

The Mortgage Bankers Association (MBA) released its weekly report on mortgage applications this morning. It noted a decline of 21.6% in the group’s seasonally adjusted composite index, compared with a ...
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Will Credit Suisse CEO Brady Dougan Be Gone Next Month? He Should Be

Posted: December 14, 2012 at 6:36 am

There continue to be reports that Credit Suisse Group A.G. (NYSE: CS) CEO Brady Dougan will lose his job early next year, and he should. Reuters recently reported: Dougan might ...
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$327 Million Fine for Standard Chartered on Iranian Charges

Posted: December 10, 2012 at 11:05 am

Britain’s Standard Chartered plc has agreed to pay $327 million in fines related to charges that the bank hid some $250 billion in transactions for Iranian clients. Such transactions are ...
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A $67 Trillion Shadow Banking Industry

Posted: November 19, 2012 at 6:15 am

You cannot regulate what you cannot see. That is the Financial Stability Board's (FSB) position on shadow banking, which has grown into a $67 trillion business. But, seen or unseen, ...
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