Wednesday, March 5, 2014

Bank stocks could soon double

Bank stocks to double, says Dick Bove

Snippet of Article: "... Between record quarterly earnings results and a strong economic forecast for the United States, bank stocks could soon double ..."

Reference: www.cnbc.com

Monday, March 3, 2014

Nutella, tech, M&M's and hedge funds ...making the wealthy wealthier

What makes Forbes' world's richest people rich? Tech, hedge funds and ... Nutella

Snippet of Article: "...Confections have proved lucrative to others. Also on the list are siblings Forrest Mars Jr., Jacqueline Mars and John Mars, owners of Mars, which invented the malt-flavored nougat in Milky Way and Snickers bars and later M&M's, at No. 31 with $20 billion...."

Reference: www.latimes.com

Wednesday, February 26, 2014

Who are American clients that evaded U.S. taxes using Credit Suisse?

Who are American clients that evaded U.S. taxes using Credit Suisse?

Snippet of Article: "... alleged large-scale tax evasion scheme more than twice the size originally thought, according to a report by the US Senate Permanent Subcommittee on Investigations...."

Reference: newsforthewealthy.blogspot.com

Monday, February 17, 2014

Libor manipulation probe

Ex-Barclays employees charged in Libor probe

Snippet of Article: "...The resulting changes helped benefit banks' trading positions, but allegedly skewed the rates borrowers were charged on mortgages, other loans or credit cards. ..."

Reference: www.usatoday.com

Friday, February 14, 2014

Federal Guidance Provided To Permit Financial Institutions To Provide Services To Marijuana-Related Businesses

Federal Guidance Provided To Permit Financial Institutions To Provide Services To Marijuana-Related Businesses

Due to the fact that 20 states and the District of Columbia have legalized certain marijuana-related activity, the U.S. Department of Justice Deputy Attorney General James M. Cole has issued a memorandum, known as the Cole Memo, which provides guidance to federal prosecutors concerning marijuana enforcement under the CSA. The Cole Memo guidance applies to all of DOJ’s federal enforcement activity, including civil enforcement and criminal investigations and prosecutions, concerning marijuana in all states. The Cole Memo reiterates Congress ’s determination that marijuana is a dangerous drug and that the illegal distribution and sale of marijuana is a serious crime that provides a significant source of revenue to large-scale criminal enterprises, gangs, and cartels. The Cole Memo notes that DOJ is committed to enforcement of the CSA consistent with those determinations. It also notes that DOJ is committed to using its investigative and prosecutorial resources to address the most significant threats in the most effective, consistent, and rational way. In furtherance of those objectives, the Cole Memo provides guidance to DOJ attorneys and law enforcement to focus their enforcement resources on persons or organizations whose conduct interferes with any one or more important priorities known as the Cole Memo priorities” found in the Cole Memo, as referenced by The Financial Crimes Enforcement Network (“FinCEN”). All of this basically relates to issuing guidance to clarify Bank Secrecy Act (“BSA”) expectations for financial institutions seeking to provide services to marijuana-related businesses. This FinCEN guidance clarifies how financial institutions can provide services to marijuana-related businesses consistent with their BSA obligations, i.e. due diligence.


Reference: The Banker Daily Briefing

Monday, September 9, 2013

Population of U.S. banks has dwindled rapidly

Bank Population Shrinks Rapidly Amid Lull in Startups

Snippet of Article: "...The population of U.S. banks has dwindled rapidly over the last three years — to below 7,000 — even though the pace of failures has abated and merger activity has slowed. ..."

Reference: www.bankinvestmentconsultant.com

Friday, September 6, 2013

Map of America' failed banks

MAP: America's Failed Banks

Snippet of Article: "...all the bank failures in America from 2007 to the present day. ..."

Reference: www.slate.com

Sunday, April 21, 2013

Will 'Too Big to Fail' happen again?

Treasury Official Says ‘Too Big To Fail’ Bailouts Of Banks Won’t Happen Again

Snippet of Article: "...U.S. Treasury official Mary Miller said in prepared remarks Thursday evening at a financial industry gathering held in Manhattan that “No financial institution, regardless of its size, will be bailed out by taxpayers again.” ..."

Reference: www.ibtimes.com

Tuesday, January 22, 2013

Regions Financial Corp. generated $265 million in net income in the fourth quarter

Regions' 2012 net income exceeds $1.1 billion

Snippet of Article: "... Regions grew its commercial and industrial loans over the last three months of 2012, with total commercial and industrial commitments growing by $1.4 billion, the release said. Commercial loan production, including renewals, was $10.4 billion, with $4.3 billion of that coming from new loan origination. ..."

Reference: al.com

Wednesday, January 11, 2012

Chase sold thousands credit-card accounts to collections agencies without

The Banker Finds Possible “Trouble” at Chase

Snippet of Article: "...You read that right. Chase sold thousands credit-card accounts to collections agencies without the correct balances. ..."

Reference: www.cjr.org

Wednesday, September 21, 2011

U.S. government is getting less comfortable with bailing out large troubled lenders

Moody's downgrades big banks on changed policy

Snippet of Article: "...(Reuters) - Moody's Investors Service lowered debt ratings for Bank of America Corp, Citigroup Inc and Wells Fargo & Co on Wednesday, saying the U.S. government is getting less comfortable with bailing out large troubled lenders. ..."

Reference: www.reuters.com

Friday, September 9, 2011

Yahoo gets advise from bankers

Yahoo Begins to Line Up Its Bankers

Snippet of Article: "...UBS Investment Bank is already working with Yahoo on a possible sale of the Internet company’s stake in Yahoo Japan, and also advised ..."

Reference: wsj.com

Wednesday, July 6, 2011

Investors fighting back against a proposed Bank of America settlement

Investors challenge Bank of America settlement

Snippet of Article: "..."Walnut Place has serious concerns about the secret, non-adversarial and conflicted way in which the proposed settlement was negotiated and about the fairness of the terms of the proposed settlement," the filing stated...."

Reference: www.kansascity.com

Saturday, July 2, 2011

Rep. Darrell Issa (R-CA) raised hell last year to stop investigatiion of Goldman Sachs

Darrel Issa Stocked Up on Goldman Sachs Bonds While Blocking Its Investigation

Snippet of Article: "... Think Progress finds that Issa was busy last year buying up Goldman Sachs High Yield Bonds worth up to $50,000 a pop while pressing strongly to thwart an SEC investigation into potential wrongdoing at Goldman Sachs:..."

Reference: obrag.org

Tuesday, June 14, 2011

'Federal Reserve’s policies are systematically looting the country'

‘Anonymous’ Hacker Group Identifies Fed as Target on YouTube

Snippet of Article: "...“The Federal Reserve’s policies are systematically looting the country to enrich one 10th of 1 percent of the population,” a distorted voice said on the video. ..."

Reference: www.bloomberg.com

Bank interchange fee debate

Bankers Hope to Make Lemonade From Senate Swipe Fee Vote

Snippet of Article: "... Bankers lost the Senate fight over interchange fees, but they are hoping the vote will help convince the Federal Reserve Board to raise its proposed 12-cent cap...."

Reference: www.bankinvestmentconsultant.com

Sunday, June 5, 2011

Basel III

EU regulator wants tougher U.S. banker bonus rules

Snippet of Article: "... A top European regulator on Friday raised concerns about consistency between the U.S. and Europe on banker bonus rules, insisting the U.S. hasn’t implemented as tough regulations..."

Reference: www.marketwatch.com

Friday, May 27, 2011

Secret Fed loans gave billions to overseas banks? You should be outraged!

Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis Peak

Snippet of Article: "... “What in the world are we doing thinking we can pass out tens of billions of dollars to banks that are overseas?” said Paul, who has advocated abolishing the Fed. “We have problems here at home with people not being able to pay their mortgages, and they’re losing their homes.” ..."

Reference: www.bloomberg.com

Thursday, May 26, 2011

Life is hard for the wealthy

Dominique Strauss-Kahn moves to townhouse in New York

Snippet of Article: "... The agreement is expected to cost him about $200,000 a month. The town house includes a state-of-the-art theatre, gym, spa and four bathrooms...."

Reference: www.guardian.co.uk

Home prices fall again

U.S. Home Price Index Fell 2.5% in First Quarter of This Year

Snippet of Article: "...seasonally adjusted purchase-only home price index. ..."

Reference: www.bloomberg.com

Tuesday, May 17, 2011

UBS Bankers Bail

UBS Exodus: A List of Bankers That Left

Snippet of Article: "...In the last three months, at least 13 senior U.S. bankers have left UBS, including Kevin Cox, ..."

Reference: wsj.com

Sunday, May 15, 2011

Dominique Strauss-Kahn , IMF chief arrested

IMF chief arrested in alleged sex assault

Snippet of Article: "...The head of the International Monetary Fund was charged early Sunday in connection with the alleged sexual assault of a housekeeper at a Manhattan hotel Saturday, a New York police spokesman said. ..."

Reference: www.washingtonpost.com

Saturday, May 14, 2011

The leader of the International Monetary Fund being questioned

IMF chief detained on N.Y. sex assault charge

Snippet of Article: "...Dominique Strauss-Kahn was taken off the Air France flight at John F. Kennedy International Airport by officers from the Port Authority of New York and New Jersey and turned over to police Saturday afternoon, said Paul J. Browne, New York Police Department spokesman. ..."

Reference: www.latimes.com

Sunday, April 24, 2011

Countrywide Mortgage Investor Lawsuit

Bank of America Dismissed From Countrywide Mortgage Investor Lawsuit

Snippet of Article: "...request to dismiss the claim against it on grounds that it can't be held liable for actions of a unit ..."

Reference: www.huffingtonpost.com

Tuesday, April 19, 2011

Regions Bank Exceeds Expectations

Regions Tops Estimates With a Penny Profit

Snippet of Article: "...BIRMINGHAM, Ala. (TheStreet) -- Regions Financial on Tuesday reported first-quarter net income available to common shareholders of $17 million, or a penny a share, above the expectations of analysts who were forecasting a loss of 10 cents a share. ..."

Reference: www.thestreet.com

Banks get all the breaks

Opinion Letting the Banks Off the Hook

Snippet of Article: "...Though, to be honest, calling the Office of the Comptroller of the Currency a “regulator” is almost laughable. The Environmental Protection Agency is a regulator. The O.C.C. is a coddler, a protector, an outright enabler of the institutions it oversees. ..."

Reference: www.nytimes.com

Sunday, April 17, 2011

Nexity Bank, Birmingham, Alabama, Closed By Regulators

Snippet of Article: "...Specific unsafe or unsound practices cited by the FDIC in the Cease and Desist Order included, operating with a large volume of poor quality loans, operating with inadequate capital and numerous other deficiencies. ..."

Reference: problembanklist.com

Thursday, April 7, 2011

JPMorgan CEO Dimon's pay jumps to $20.8 million

JPMorgan CEO Dimon's pay jumps to $20.8 million

Snippet of Article: "...Dimon saw his total compensation jump nearly 1,500 percent to $20.8 million in 2010 from $1.3 million a year earlier, a Thursday regulatory filing shows. ..."

Reference: www.chicagotribune.com

Monday, April 4, 2011

Bank e-mail hacking

Bank Customers Warned After E-Mail Hack

Snippet of Article: "...Capital One(COF_) and JPMorgan & Chase(JPM_) are warning customers to be careful opening emails allegedly coming from their respective institutions after a third-party marketing firm's system was hacked Friday. ..."

Reference: www.thestreet.com

Monday, March 28, 2011

Another bank failure

U.S. closes small bank, bringing 2011 total to 26

Snippet of Article: "...U.S. authorities closed the Bank of Commerce of Wood Dale, a small Illinois bank on Friday, bringing the total number of foreclosures in 2011 to 26. ..."

Reference: www.reuters.com

Tuesday, March 22, 2011

Edcomm Banker’s Academy Launches Free Anti Money Laundering (AML) Overview for Sudan

Edcomm Banker’s Academy Launches Free Anti Money Laundering (AML) Overview for Sudan

Snippet of Article: "...recently launched a free tutorial that provides Anti Money Laundering (AML) training for banks and financial institutions located in Sudan. Focus on Anti Money Laundering for Sudan offers an overview of the AML laws and regulations that are specific to financial institutions in Northern African country. ..."

Reference: pr-usa.net

Wednesday, March 16, 2011

Bank of Japan continues to flood money markets

Bank of Japan continues to flood money markets

Snippet of Article: "...The Bank of Japan conducted emergency operations for the third day in a row yesterday since Monday. By flooding the banking system with money, it hopes banks will continue lending and meet the likely surge in demand for post-disaster funds. ..."

Reference: www.todayonline.com

Saturday, March 12, 2011

Clegg raises banker-bashing rhetoric

Clegg raises banker-bashing rhetoric

Snippet of Article: "...Nick Clegg has admitted he would like to wring the necks of bankers who are taking big bonuses even though their employers were kept in business through the support of the taxpayer. ..."

Reference: www.ft.com

Monday, March 7, 2011

2011 Banker bonuses up again

Bankers' 2011 bonuses to rise 10-15 percent: expert

Snippet of Article: "...Bankers can expect their bonus packages in 2011 to be 10 percent to 15 percent richer on average than last year, a widely followed compensation expert said on Friday on Reuters Insider. ..."

Reference: www.reuters.com

Friday, March 4, 2011

You got punked!

Too late to jail bank CEOs...

Snippet of Article: "...Admit it, we lost the opportunity. Jail a bank CEO and Wall Street will miraculously reform? You’re joking, right? Wall Street got away with a “legal” bank heist. Today the should-be/would-be inmates are running the prison. ..."

Reference: www.marketwatch.com

Monday, February 21, 2011

Credit Suisse Banker Arrested in U.S., SonntagsZeitung Says

Credit Suisse Banker Arrested in U.S., SonntagsZeitung Says

Snippet of Article: "...Authorities in the U.S. arrested a Credit Suisse employee as a “material witness” in an investigation into several banks suspected of helping tax evaders, SonntagsZeitung reported. ..."

Reference: www.bloomberg.com

Friday, February 18, 2011

Bernanke says U.S. could handle big bank failure

Bernanke says U.S. could handle big bank failure

Snippet of Article: "...the nation could now handle the collapse of a large bank as a result of the overhaul of financial regulations, The New York Times reports. ..."

Reference: www.bizjournals.com

Sunday, February 13, 2011

Regions Financial - Top Performing Bank

Regions Financial - Top Performing Bank

Snippet of Article: "...Regions Financial (NYSE:RF) was the top performer of the banking index, closing at $8.02 representing 3.75%. versus the previous trading session. Shares of Regions Financial, the Alabama based regional bank have defined support at $6.79 and resistance at $8.03. ..."

Reference: tradershuddle.com

Friday, February 11, 2011

More Bank Failures

Regulators Close Four More Banks

Snippet of Article: "...U.S. regulators announced the failures of four more banks, in Michigan, Florida, Wisconsin and California. ..."

Reference: Wall Street Journal