Category Archives: Bank

JPMorgan lobbied for big loophole on risky trading

By doris | Published: May 12, 2012

Full Story at msnbc.com WASHINGTON — Soon after lawmakers finished work on the nation’s new financial regulatory law, a team of JPMorgan Chase lobbyists descended on Washington. Their goal was to obtain special breaks that would allow banks to make big bets in their portfolios, including some of the types of trading that led to [...]

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Banks foreclosing on U.S. churches in record numbers

By doris | Published: March 9, 2012

Full Story at Yahoo! News LOS ANGELES (Reuters) – Banks are foreclosing on America’s churches in record numbers as lenders increasingly lose patience with religious facilities that have defaulted on their mortgages, according to new data. The surge in church foreclosures represents a new wave of distressed property seizures triggered by the 2008 financial crash, [...]

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Mass. AG sues five major banks over foreclosures

By doris | Published: December 1, 2011

Full Story at BottomLine.msnbc.msn.com Massachusetts’ top law enforcement official has sued five top U.S. banks, charging they foreclosed illegally on homes in the state and used deceptive loan servicing practices, including robo-signing. Attorney General Martha Coakley filed suit against Bank of America, Wells Fargo, JP Morgan Chase, Citigroup and GMAC. “The single most important thing [...]

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More than 100 arrested in massive NYC theft ring

By doris | Published: October 7, 2011

Full Story at msnbc.com NEW YORK — Bank tellers, restaurant workers and other service employees in New York lifted credit card data from foreign tourists and residents as part of an identity theft ring that stretched to China, Europe and the Middle East and victimized thousands, authorities said Friday. In total, 111 people were arrested [...]

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Citi hikes fees on checking accounts

By doris | Published: October 5, 2011

Full Story at cnn.com NEW YORK (CNNMoney) — The fees keep coming. Citi is the latest big bank to slap customers with a round of fee hikes. This time, on its checking accounts. Starting in December, customers who hold its mid-level Citibank Account will be charged $20 a month if they fail to maintain a [...]

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Recession’s second act would be worse than the first

By doris | Published: September 22, 2011

Full Story at BottomLinemsnbc.msn.com Fresh evidence of a global economic slowdown has raised fears that governments around the world may be powerless to reverse it. If the world does fall into back into recession, it could be much harder to escape than the contraction that ended in 2009. With banks still recovering from a decade-long [...]

Also posted in Goverment, Recession, Unemployment | Leave a comment

US, Europe switch roles in world banking crisis

By doris | Published: September 7, 2011

Full Story at msnbc.com Budget bickering and brinkmanship in Washington this summer are getting much of the blame for the recent slowdown in an already weak U.S. economy. Now, the two-year-old stalemate over Europe’s debt problems threatens to bring on another recession. The crisis in Europe has already sapped the confidence of consumers there and [...]

Also posted in America, Budget, Economy, Europe, Recession | Leave a comment

Man robs bank to get medical care in jail

By doris | Published: June 21, 2011

Full Story at news.Yahoo.com Some people who need medical care but can’t afford it go to the emergency room. Others just hope they’ll get better. James Richard Verone robbed a bank. Earlier this month, Verone (pictured), a 59-year-old convenience store clerk, walked into a Gaston, N.C., bank and handed the cashier a note demanding $1 [...]

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Exclusive: Clinton in talks about possible move to World Bank

By doris | Published: June 9, 2011

Full Story at news.Yahoo.com WASHINGTON (Reuters) – Secretary of State Hillary Clinton has been in discussions with the White House about leaving her job next year to become head of the World Bank, sources familiar with the discussions said Thursday. The former first lady and onetime political rival to President Barack Obama quickly became one [...]

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CNBC: 3 big banks cutting deal on foreclosures

By doris | Published: November 17, 2010

Full Story at  msnbc.com WASHINGTON — Three big U.S. banks are nearing a settlement in which they would compensate borrowers whose homes were improperly foreclosed upon, according to a CNBC report. Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. would also agree not to start foreclosure proceedings until they have [...]

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Pay czar: ‘Ill advised’ bonuses at 17 bailed-out banks

By doris | Published: July 24, 2010

Full Story at msnbc.com Why use our money to give bonuses. Get the banks back on their feet first. America is the only place that lets these places have a vacation with our money instead of first fixing the problem. We as citizens can’t do that. They would put us in jail for miss using [...]

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Cost of seizing Fannie and Freddie surging

By doris | Published: June 20, 2010

Full Story at msnbc.com CASA GRANDE, Ariz. – Fannie Mae and Freddie Mac took over a foreclosed home roughly every 90 seconds during the first three months of the year. They owned 163,828 houses at the end of March, a virtual city with more houses than Seattle. The mortgage finance companies, created by Congress to [...]

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Pay Czar: AIG $100 Million Bonuses ‘Outrageous’ But Defensible

By doris | Published: February 4, 2010

Full Story at ABCNews.go.com Appearing on “Good Morning America” today Feinberg also responded to a senior Republican congressman who claimed that AIG has “taxpayers over a barrel.” In a statement released Tuesday night Sen. Charles Grassley, the senior Republican on the Senate Finance Committee said “the Obama administration has been outmaneuvered. And the closed-door negotiations [...]

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Cyber crime poses threat to e-commerce

By doris | Published: December 14, 2009

Full Story at CNN.com (CNN) — The past 12 months have been a banner year for cyber crime. And that could be bad news for the future of e-commerce. “At current trends, in three or four years people will start to think twice about transacting on the Web, individuals and businesses,” said Michael Fraser, director [...]

Also posted in Business, Change, Company, Computer, Consumer, Criminal, Financial, Home, Illegal, Internet, Theft, Victims | Leave a comment

Citi Jet: Treasury ‘Pressured’ Bank To Stop Delivery

By doris | Published: January 27, 2009

Full Story At CNBC.com The Treasury Department put pressure on Citi not to take delivery of a new aircraft, CNBC has learned. Sources say a call Monday night from someone in the department to the bank, expressed “disappointment” in Citi’s originial decision to take delivery. The call was said not to be from new Treasury [...]

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