General Banking News
The Chinese gov't probably took their money and now they're rotting in jail.
NZ runaway millionaires on the loose
http://news.smh.com.au/breaking-news-world/nz-runaway-millionaires-on-the-loose-20090607-bzh6.html
Bank Chief Tells of U.S. Pressure to Buy Merrill Lynch
http://www.nytimes.com/2009/06/12/business/12bank.html?ref=global-home
Fed Memo Said Aid for Bank of America Would ‘Come at a Price’
http://www.bloomberg.com/apps/news?pid=20601103&sid=a2ZP30tM3fpE
Ailing Banks Caught Between Regulators' Competing Visions
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/10/AR2009061003756.html
Banks cut borrowing from Fed program to $36.9B
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/11/AR2009061103161.html
Bank Advertising
Funny bankin' doesn't have to mean crisis bankin'
Bank of America
CEO: Government pushed bank to buy Merrill Lynch
http://www.google.com/hostednews/ap/article/ALeqM5iiSKNakDSOAjQNLlJ9S2GiegQXtgD98OM7J00
Bank of America (BAC) NewsBite - BAC Upgraded By Keefe Bruyette Woods
http://www.marketintelligencecenter.com/articles/889989
How Bad is the Bank of America/Merrill Lynch Scandal?
http://business.theatlantic.com/2009/06/how_bad_is_the_bank_of_americamerrill_lynch_scandal.php
Wells Fargo
What does it mean that Wells Fargo is hanging on to its TARP funds?
http://www.minnpost.com/stories/2009/06/11/9435/what_does_it_mean_that_wells_fargo_is_hanging_on_to_its_tarp_funds
Wells Fargo Rally Can't Last: Analyst
http://www.thestreet.com/story/10512628/1/wells-fargo-rally-cant-last-analyst.html?cm_ven=GOOGLEFI
Rally at Wells Fargo: Save jobs and homes now!
http://www.pww.org/article/articleview/15978/
Final Offer?
http://www.journal-topics.com/dp/09/dp090610.6.html
SunTrust
SunTrust sues SouthEast Waffles owner
http://www.tennessean.com/article/20090611/BUSINESS01/906110329/1003/NEWS01/SunTrust+sues+SouthEast+Waffles+owner
BB&T
BB&T Wealth Management tops survey
http://www.bizjournals.com/triad/stories/2009/06/08/daily45.html
BB&T (BBT) NewsBite - BBT Upgraded By Goldman Sachs
http://www.marketintelligencecenter.com/articles/890016
Regions
Regions Bank intends to pay back federal bailout money 'as soon as we are allowed'
http://www.al.com/business/huntsvilletimes/index.ssf?/base/business/1244711773258790.xml&coll=1
Thursday, June 11, 2009
Wednesday, June 10, 2009
Wednesday Evening News -
General Banking News
10 Banks Allowed to Repay $68B in Bailout Money
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/09/AR2009060900891.html?nav=rss_business
Banks Repaying TARP to Be Freed of Bonus Curbs Imposed by Dodd
http://www.bloomberg.com/apps/news?pid=20601087&sid=aziwVj2QFoFI
Taxpayers gain $2.7B on bailout 'investment'
http://money.cnn.com/2009/06/10/news/economy/fed_balance_sheet/?postversion=2009061015
Five of 12 Fed banks say downturn moderating
http://www.marketwatch.com/story/five-of-12-fed-banks-say-downturn-moderating
Sad news
Feds freeze online poker bank accounts
http://www.upi.com/Top_News/2009/06/10/Feds-freeze-online-poker-bank-accounts/UPI-92291244656040/
Treasury appoints pay czar to oversee TARP banks
http://www.marketwatch.com/story/treasury-appoints-pay-czar-to-oversee-tarp-banks
Bank Shareholders Unite!
http://www.fool.com/investing/general/2009/06/10/bank-shareholders-unite.aspx
Bank of America
E-Mails Show Fed Pressure on Bank of America
http://www.nytimes.com/2009/06/11/business/11bank.html?ref=business
Gov to set Lewis' pay
Overseer to Set Executive Pay at Rescued Companies
http://www.nytimes.com/2009/06/11/business/11pay.html?hpw
Wells Fargo
Wells Fargo May Repay Bailout in Pieces
http://www.thestreet.com/story/10512121/1/wells-fargo-may-repay-bailout-in-pieces.html?cm_ven=GOOGLEN
SunTrust
Not the full story
SunTrust Says Citi Poached Employees, Trade Secrets
http://ip.law360.com/registrations/user_registration?article_id=105662&concurrency_check=false
10 Banks Allowed to Repay $68B in Bailout Money
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/09/AR2009060900891.html?nav=rss_business
Banks Repaying TARP to Be Freed of Bonus Curbs Imposed by Dodd
http://www.bloomberg.com/apps/news?pid=20601087&sid=aziwVj2QFoFI
Taxpayers gain $2.7B on bailout 'investment'
http://money.cnn.com/2009/06/10/news/economy/fed_balance_sheet/?postversion=2009061015
Five of 12 Fed banks say downturn moderating
http://www.marketwatch.com/story/five-of-12-fed-banks-say-downturn-moderating
Sad news
Feds freeze online poker bank accounts
http://www.upi.com/Top_News/2009/06/10/Feds-freeze-online-poker-bank-accounts/UPI-92291244656040/
Treasury appoints pay czar to oversee TARP banks
http://www.marketwatch.com/story/treasury-appoints-pay-czar-to-oversee-tarp-banks
Bank Shareholders Unite!
http://www.fool.com/investing/general/2009/06/10/bank-shareholders-unite.aspx
Bank of America
E-Mails Show Fed Pressure on Bank of America
http://www.nytimes.com/2009/06/11/business/11bank.html?ref=business
Gov to set Lewis' pay
Overseer to Set Executive Pay at Rescued Companies
http://www.nytimes.com/2009/06/11/business/11pay.html?hpw
Wells Fargo
Wells Fargo May Repay Bailout in Pieces
http://www.thestreet.com/story/10512121/1/wells-fargo-may-repay-bailout-in-pieces.html?cm_ven=GOOGLEN
SunTrust
Not the full story
SunTrust Says Citi Poached Employees, Trade Secrets
http://ip.law360.com/registrations/user_registration?article_id=105662&concurrency_check=false
Tuesday, June 9, 2009
Tuesday / Wednesdays News - Broke Banks, TARP Paybacks
General Banking News
Certain Banks Are Still Broke
http://seekingalpha.com/article/142373-certain-banks-are-still-broke
Ten banks allowed to pay back TARP
http://money.cnn.com/2009/06/09/news/companies/banks_tarp/?postversion=2009060916
US Bancorp
U.S. Bank can repay $6.6B in TARP funds
http://www.bizjournals.com/dayton/stories/2009/06/08/daily40.html
BB&T
BB&T gets OK to repay TARP money
http://www2.journalnow.com/content/2009/jun/09/bbt-gets-ok-repay-tarp-money/
Bank of America
Lawmakers Order Fed to Relinquish Merrill Documents
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/09/AR2009060903408.html
http://www.reuters.com/article/ousiv/idUSTRE5585EU20090609
Bank of America’s Chief Says Fed Pushed for Merrill Purchase
http://www.bloomberg.com/apps/news?pid=20601103&sid=aHDSy97GG8ok
Wells Fargo
Wells Fargo: haven't yet applied to repay TARP cash
http://www.reuters.com/article/pressReleasesMolt/idUSTRE5586JE20090609
Woman sues Wells Fargo claiming retaliatory firing
http://www.greatfallstribune.com/article/20090609/NEWS01/90609003/Woman+sues+Wells+Fargo+claiming+retaliatory+firing
It will take Wells Fargo longer to repay TARP
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/09/BUG11834EG.DTL
SunTrust
SunTrust Inches Closer To Tier 1 Common Capital Target
http://assetmanagement.banking-business-review.com/news/suntrust_inches_closer_to_tier_1_common_capital_target_100609
Certain Banks Are Still Broke
http://seekingalpha.com/article/142373-certain-banks-are-still-broke
Ten banks allowed to pay back TARP
http://money.cnn.com/2009/06/09/news/companies/banks_tarp/?postversion=2009060916
US Bancorp
U.S. Bank can repay $6.6B in TARP funds
http://www.bizjournals.com/dayton/stories/2009/06/08/daily40.html
BB&T
BB&T gets OK to repay TARP money
http://www2.journalnow.com/content/2009/jun/09/bbt-gets-ok-repay-tarp-money/
Bank of America
Lawmakers Order Fed to Relinquish Merrill Documents
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/09/AR2009060903408.html
Bank of America paying Mozilo's legal fees
http://www.reuters.com/article/ousiv/idUSTRE5585EU20090609
Bank of America’s Chief Says Fed Pushed for Merrill Purchase
http://www.bloomberg.com/apps/news?pid=20601103&sid=aHDSy97GG8ok
Wells Fargo
Wells Fargo: haven't yet applied to repay TARP cash
http://www.reuters.com/article/pressReleasesMolt/idUSTRE5586JE20090609
Woman sues Wells Fargo claiming retaliatory firing
http://www.greatfallstribune.com/article/20090609/NEWS01/90609003/Woman+sues+Wells+Fargo+claiming+retaliatory+firing
It will take Wells Fargo longer to repay TARP
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/09/BUG11834EG.DTL
SunTrust
SunTrust Inches Closer To Tier 1 Common Capital Target
http://assetmanagement.banking-business-review.com/news/suntrust_inches_closer_to_tier_1_common_capital_target_100609
Monday, June 8, 2009
Monday Evening News - TARP Plus
General Banking News
Excellent AP breakdown
Stress-tested banks raise $75.2 billion in capital
http://www.google.com/hostednews/ap/article/ALeqM5g5fQjVDctN1UmKVLKfcOeBKqUjhQD98MNJC00
Rolling up TARP: Will it be strong banks vs. weak?
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/08/AR2009060803280.html
Fed signs off on big banks' capital raising plans
http://www.marketwatch.com/story/fed-signs-off-on-big-banks-capital-raising-plans
Fed Accepts Plans From 10 Banks Needing More Capital
http://www.bloomberg.com/apps/news?pid=20601103&sid=aY5EIkZ_cupI&refer=us
SunTrust
SunTrust Offer Gives Lender 96% of Stress-Test Goal
http://www.bloomberg.com/apps/news?pid=20601103&sid=a0c8.sL2OtOg&refer=news
Bank of America
Bank of America Says Ward, Mitchell Resign From Board
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5H65wjZQnKk
Shareholder Activists Reshape Bank of America
http://seekingalpha.com/article/141848-shareholder-activists-reshape-bank-of-america
Wells Fargo
For Shame!
Wells Fargo's Evergreen paying $40M in SEC accord
http://www.google.com/hostednews/ap/article/ALeqM5jlPDRhGe2X3RkNwbEYmN_lsCsxgAD98MJS202
Holding On to Wells Fargo, Watching How Banks Play Out
http://seekingalpha.com/article/141926-holding-on-to-wells-fargo-watching-how-banks-play-out
Litigation says Wells targeted blacks for subprime loans: report
http://www.bizjournals.com/sanfrancisco/stories/2009/06/08/daily11.html
Charlotte loses clout at Wells
As the organizational chart of the merged bank takes shape, fewer top executives will be based here.
http://www.charlotteobserver.com/business/story/768813.html
First Data and Wells Fargo Expand Relationship
http://finance.sfgate.com/hearst/?Account=sfgate&GUID=9070993&Page=MediaViewer&Ticker=%24CHRON200
Excellent AP breakdown
Stress-tested banks raise $75.2 billion in capital
http://www.google.com/hostednews/ap/article/ALeqM5g5fQjVDctN1UmKVLKfcOeBKqUjhQD98MNJC00
Rolling up TARP: Will it be strong banks vs. weak?
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/08/AR2009060803280.html
Fed signs off on big banks' capital raising plans
http://www.marketwatch.com/story/fed-signs-off-on-big-banks-capital-raising-plans
Fed Accepts Plans From 10 Banks Needing More Capital
http://www.bloomberg.com/apps/news?pid=20601103&sid=aY5EIkZ_cupI&refer=us
SunTrust
SunTrust Offer Gives Lender 96% of Stress-Test Goal
http://www.bloomberg.com/apps/news?pid=20601103&sid=a0c8.sL2OtOg&refer=news
Bank of America
Bank of America Says Ward, Mitchell Resign From Board
http://www.bloomberg.com/apps/news?pid=20601087&sid=a5H65wjZQnKk
Shareholder Activists Reshape Bank of America
http://seekingalpha.com/article/141848-shareholder-activists-reshape-bank-of-america
Wells Fargo
For Shame!
Wells Fargo's Evergreen paying $40M in SEC accord
http://www.google.com/hostednews/ap/article/ALeqM5jlPDRhGe2X3RkNwbEYmN_lsCsxgAD98MJS202
Holding On to Wells Fargo, Watching How Banks Play Out
http://seekingalpha.com/article/141926-holding-on-to-wells-fargo-watching-how-banks-play-out
Litigation says Wells targeted blacks for subprime loans: report
http://www.bizjournals.com/sanfrancisco/stories/2009/06/08/daily11.html
Charlotte loses clout at Wells
As the organizational chart of the merged bank takes shape, fewer top executives will be based here.
http://www.charlotteobserver.com/business/story/768813.html
First Data and Wells Fargo Expand Relationship
http://finance.sfgate.com/hearst/?Account=sfgate&GUID=9070993&Page=MediaViewer&Ticker=%24CHRON200
Saturday, June 6, 2009
Weekend News (not much of it)
General Banking News
Regional bank in Illinois fails
http://money.cnn.com/2009/06/05/news/companies/bank_failure/?postversion=2009060518
Regulators Push for Change at Two Troubled Big Banks
http://www.nytimes.com/2009/06/06/business/economy/06bank.html
Citigroup
Citi's Vikram Pandit on the hot seat
http://money.cnn.com/2009/06/05/news/pandit.crosshairs.fortune/?postversion=2009060515
Regional bank in Illinois fails
http://money.cnn.com/2009/06/05/news/companies/bank_failure/?postversion=2009060518
Regulators Push for Change at Two Troubled Big Banks
http://www.nytimes.com/2009/06/06/business/economy/06bank.html
Citigroup
Citi's Vikram Pandit on the hot seat
http://money.cnn.com/2009/06/05/news/pandit.crosshairs.fortune/?postversion=2009060515
Friday, June 5, 2009
Friday News - Things not to say; Mozilo Charged; Change at BoA
General Banking News
Things not to say
Bank customer says he's 'on a mission to kill the president'; fed charges filed
http://www.sltrib.com/ci_12520998?source=most_viewed
More stupid people (no shortage here)
Man jailed for sending powder-laced letters to banks
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0423831120090604
Good Article
U.S. Banks Rely on Conversions for 22% of Stress-Test Capital
http://www.bloomberg.com/apps/news?pid=20601103&sid=aYZnjey0Lue8&refer=news
Rebuilding the House of Cards
http://www.insidefutures.com/article/104211/Rebuilding%20the%20House%20of%20Cards.html
Banks borrow more from Fed; investment cos. none
http://www.google.com/hostednews/ap/article/ALeqM5hjQ8J74ua3ph6ibMC6NyqYwHcnTAD98K3CKG0
Shifting the Focus to What Comes Next
http://www.americanbanker.com/article.html?id=20090603LDY8CCE6&specialreportid=2009060329O1GZ9G
Bank Profits From Accounting Rules Masking Looming Loan Losses
Wells Fargo highlighted
http://www.bloomberg.com/apps/news?pid=20601109&sid=alC3LxSjomZ8
U.S. Job Losses Slow, Signaling Recession Is Abating
http://www.bloomberg.com/apps/news?pid=20601103&sid=axhy8nEZHIXY&refer=news
Bank of America
Bank of America Elects 4 New Directors
http://dealbook.blogs.nytimes.com/2009/06/05/bank-of-america-names-4-new-directors/?hp
Bank of America Ousts Head of Risk Oversight
http://www.nytimes.com/2009/06/05/business/05risk.html?ref=global
Bank of America Names Greg Curl Chief Risk Officer
http://www.bloomberg.com/apps/news?pid=20601103&sid=aaognA7BpKHE&refer=news
Another one gone
Bank of America director Robert Tillman resigns
http://www.businessweek.com/ap/financialnews/D98K43900.htm
BofA CEO may testify to Congress over Merrill
http://www.reuters.com/article/bondsNews/idUSN0527459020090605
Bank of America’s Merrill Adds $5 Billion to Deposits in Month
http://www.bloomberg.com/apps/news?pid=20601087&sid=a7gLCwXtE7nU
Big surprise here
Countrywide’s Mozilo, Two Ex-Executives Accused by SEC of Fraud
http://www.bloomberg.com/apps/news?pid=20601103&sid=al4QWAr2aHCs&refer=news
One more question for John Finger to ask Ken Lewis
http://dealbreaker.com/2009/06/one-more-question-for-jon-fing.php
Frontline show will focus on Bank of America
http://www.boston.com/business/ticker/2009/06/frontline_show_1.html
BofA inner circle shrinks
http://www.ft.com/cms/s/0/49681114-51f7-11de-b986-00144feabdc0.html
SunTrust
SunTrust sells Walmart branches
Orlando-based Urban Trust Bank adds more Walmart branches
http://www.bloomberg.com/apps/news?pid=20601103&sid=al4QWAr2aHCs&refer=news
Wells Fargo
Is Wells Fargo Looking to Purchase AIG-UGI?
http://seekingalpha.com/article/141459-is-wells-fargo-looking-to-purchase-aig-ugi
Wells Fargo Insurance Services nabs Las Vegas brokerage in buying spree
http://www.bizjournals.com/sanfrancisco/stories/2009/06/01/daily59.html
Schwarzenegger declares 'day of reckoning'; Wells Fargo CEO says California in 'financial ruin'
http://www.howestreet.com/articles/index.php?article_id=9707
BB&T
BB&T breaks ground
http://www.register-herald.com/local/local_story_152221603.html
Regions
Regions Bank escalates foreclosure activity
http://www.bizjournals.com/birmingham/stories/2009/06/01/daily35.html
Regions Financial Corp.'s Morgan Keegan Loses Yet Another Arbitration Case
http://www.globenewswire.com/newsroom/news.html?d=166682
Things not to say
Bank customer says he's 'on a mission to kill the president'; fed charges filed
http://www.sltrib.com/ci_12520998?source=most_viewed
More stupid people (no shortage here)
Man jailed for sending powder-laced letters to banks
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0423831120090604
Good Article
U.S. Banks Rely on Conversions for 22% of Stress-Test Capital
http://www.bloomberg.com/apps/news?pid=20601103&sid=aYZnjey0Lue8&refer=news
Rebuilding the House of Cards
http://www.insidefutures.com/article/104211/Rebuilding%20the%20House%20of%20Cards.html
Banks borrow more from Fed; investment cos. none
http://www.google.com/hostednews/ap/article/ALeqM5hjQ8J74ua3ph6ibMC6NyqYwHcnTAD98K3CKG0
Shifting the Focus to What Comes Next
http://www.americanbanker.com/article.html?id=20090603LDY8CCE6&specialreportid=2009060329O1GZ9G
Bank Profits From Accounting Rules Masking Looming Loan Losses
Wells Fargo highlighted
http://www.bloomberg.com/apps/news?pid=20601109&sid=alC3LxSjomZ8
U.S. Job Losses Slow, Signaling Recession Is Abating
http://www.bloomberg.com/apps/news?pid=20601103&sid=axhy8nEZHIXY&refer=news
Bank of America
Bank of America Elects 4 New Directors
http://dealbook.blogs.nytimes.com/2009/06/05/bank-of-america-names-4-new-directors/?hp
Bank of America Ousts Head of Risk Oversight
http://www.nytimes.com/2009/06/05/business/05risk.html?ref=global
Bank of America Names Greg Curl Chief Risk Officer
http://www.bloomberg.com/apps/news?pid=20601103&sid=aaognA7BpKHE&refer=news
Another one gone
Bank of America director Robert Tillman resigns
http://www.businessweek.com/ap/financialnews/D98K43900.htm
BofA CEO may testify to Congress over Merrill
http://www.reuters.com/article/bondsNews/idUSN0527459020090605
Bank of America’s Merrill Adds $5 Billion to Deposits in Month
http://www.bloomberg.com/apps/news?pid=20601087&sid=a7gLCwXtE7nU
Big surprise here
Countrywide’s Mozilo, Two Ex-Executives Accused by SEC of Fraud
http://www.bloomberg.com/apps/news?pid=20601103&sid=al4QWAr2aHCs&refer=news
One more question for John Finger to ask Ken Lewis
http://dealbreaker.com/2009/06/one-more-question-for-jon-fing.php
Frontline show will focus on Bank of America
http://www.boston.com/business/ticker/2009/06/frontline_show_1.html
BofA inner circle shrinks
http://www.ft.com/cms/s/0/49681114-51f7-11de-b986-00144feabdc0.html
SunTrust
SunTrust sells Walmart branches
Orlando-based Urban Trust Bank adds more Walmart branches
http://www.bloomberg.com/apps/news?pid=20601103&sid=al4QWAr2aHCs&refer=news
Wells Fargo
Is Wells Fargo Looking to Purchase AIG-UGI?
http://seekingalpha.com/article/141459-is-wells-fargo-looking-to-purchase-aig-ugi
Wells Fargo Insurance Services nabs Las Vegas brokerage in buying spree
http://www.bizjournals.com/sanfrancisco/stories/2009/06/01/daily59.html
Schwarzenegger declares 'day of reckoning'; Wells Fargo CEO says California in 'financial ruin'
http://www.howestreet.com/articles/index.php?article_id=9707
BB&T
BB&T breaks ground
http://www.register-herald.com/local/local_story_152221603.html
Regions
Regions Bank escalates foreclosure activity
http://www.bizjournals.com/birmingham/stories/2009/06/01/daily35.html
Regions Financial Corp.'s Morgan Keegan Loses Yet Another Arbitration Case
http://www.globenewswire.com/newsroom/news.html?d=166682
Wednesday, June 3, 2009
Wednesday Evening / Thursday News - More lawsuits, TCF, Toxic Assets
General Banking News
Fed May Step Up on Mortgages, Bank of America Says
http://www.bloomberg.com/apps/news?pid=20601087&sid=aRcSqY5zv7F4
U.S. FDIC delays pilot sale of toxic bank loans
http://www.reuters.com/article/governmentFilingsNews/idUSN0311295120090603
And the best banks are...
http://www.fiercefinance.com/story/and-best-banks-are/2009-06-03
Lloyds Bank to axe 30 jobs in Birmingham (thur)
http://www.birminghampost.net/birmingham-business/birmingham-business-news/financial-business-news/2009/06/04/lloyds-bank-to-axe-30-jobs-in-birmingham-65233-23788545/
Six banks to buy back sour auction bonds (thur)
http://www.boston.com/business/articles/2009/06/04/six_banks_to_buy_back_sour_auction_bonds/
JP Morgan
STOCKS NEWS US-JPMorgan to disband Principal Investment units
http://www.forbes.com/feeds/afx/2009/06/03/afx6498467.html
Bank of America
BofA board may meet activist investor Finger -NY Post (thur)
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBNG48085520090604
Exclusive: Merrill Brokers Pissed At Secret Bank Of America Coup
http://www.businessinsider.com/bank-of-america-coup-at-merrill-lynch-roils-financial-advisers-may-cut-their-pay-2009-6
Extended Stay investors sue BofA, Wells Fargo
http://in.reuters.com/article/innovationNews/idINTRE5527FA20090603
BofA Denies Brokerage Shakeup Report
http://www.thestreet.com/story/10509093/1/bofa-denies-brokerage-shakeup-report.html?cm_ven=GOOGLEN
Bank Of America Denies Our Merrill Shakeup Story
http://www.businessinsider.com/bank-of-america-denies-our-merrill-shakeup-story-2009-6
Banks, SEC Settle Claims of Investor Fraud in Sale of Auction Rate Securities
http://www.attorneyatlaw.com/2009/06/banks-sec-settle-claims-of-investor-fraud-in-sale-of-auction-rate-securities/
Morgan Stanley
Morgan Stanley seen among first to exit TARP
http://www.reuters.com/article/ousiv/idUSTRE5526T720090603
SunTrust
Regions nabs Barton from SunTrust
http://www.tennessean.com/article/20090603/BUSINESS01/90603050/Regions+nabs+Barton+from+SunTrust
KeyCorp
KeyCorp Commences Two Exchanges Offers For Preferred Securities
http://www.rttnews.com/ArticleView.aspx?Id=968802&SMap=1
KeyCorp says has generated about 70% of government's requirement - Quick Facts http://www.rttnews.com/ArticleView.aspx?Id=968540&SMap=1
Wells Fargo
Ex-employees claim racism in Wells Fargo subprime loan push (thur)
http://www.baltimoresun.com/news/local/bal-md.wellsfargo04jun04,0,2820547.story
Extended Stay investors sue BofA, Wells Fargo
http://in.reuters.com/article/innovationNews/idINTRE5527FA20090603
Wells Fargo breaks ground on new downtown Waco bank location (thur)
http://www.wacotrib.com/news/content/news/stories/2009/06/03/06032009wacWellsFargo.html
TCF Financial
It's tough to say no to an overbearing uncle who prints money.
http://www.forbes.com/forbes/2009/0622/tarp-stimulus-states-saying-no-to-government.html
Colonial
Colonial BancGroup names new execs to replace Lowder (thur)
http://www.bizjournals.com/birmingham/stories/2009/06/01/daily28.html
Fed May Step Up on Mortgages, Bank of America Says
http://www.bloomberg.com/apps/news?pid=20601087&sid=aRcSqY5zv7F4
U.S. FDIC delays pilot sale of toxic bank loans
http://www.reuters.com/article/governmentFilingsNews/idUSN0311295120090603
And the best banks are...
http://www.fiercefinance.com/story/and-best-banks-are/2009-06-03
Lloyds Bank to axe 30 jobs in Birmingham (thur)
http://www.birminghampost.net/birmingham-business/birmingham-business-news/financial-business-news/2009/06/04/lloyds-bank-to-axe-30-jobs-in-birmingham-65233-23788545/
Six banks to buy back sour auction bonds (thur)
http://www.boston.com/business/articles/2009/06/04/six_banks_to_buy_back_sour_auction_bonds/
JP Morgan
STOCKS NEWS US-JPMorgan to disband Principal Investment units
http://www.forbes.com/feeds/afx/2009/06/03/afx6498467.html
Bank of America
BofA board may meet activist investor Finger -NY Post (thur)
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBNG48085520090604
Exclusive: Merrill Brokers Pissed At Secret Bank Of America Coup
http://www.businessinsider.com/bank-of-america-coup-at-merrill-lynch-roils-financial-advisers-may-cut-their-pay-2009-6
Extended Stay investors sue BofA, Wells Fargo
http://in.reuters.com/article/innovationNews/idINTRE5527FA20090603
BofA Denies Brokerage Shakeup Report
http://www.thestreet.com/story/10509093/1/bofa-denies-brokerage-shakeup-report.html?cm_ven=GOOGLEN
Bank Of America Denies Our Merrill Shakeup Story
http://www.businessinsider.com/bank-of-america-denies-our-merrill-shakeup-story-2009-6
Banks, SEC Settle Claims of Investor Fraud in Sale of Auction Rate Securities
http://www.attorneyatlaw.com/2009/06/banks-sec-settle-claims-of-investor-fraud-in-sale-of-auction-rate-securities/
Morgan Stanley
Morgan Stanley seen among first to exit TARP
http://www.reuters.com/article/ousiv/idUSTRE5526T720090603
SunTrust
Regions nabs Barton from SunTrust
http://www.tennessean.com/article/20090603/BUSINESS01/90603050/Regions+nabs+Barton+from+SunTrust
KeyCorp
KeyCorp Commences Two Exchanges Offers For Preferred Securities
http://www.rttnews.com/ArticleView.aspx?Id=968802&SMap=1
KeyCorp says has generated about 70% of government's requirement - Quick Facts http://www.rttnews.com/ArticleView.aspx?Id=968540&SMap=1
Wells Fargo
Ex-employees claim racism in Wells Fargo subprime loan push (thur)
http://www.baltimoresun.com/news/local/bal-md.wellsfargo04jun04,0,2820547.story
Extended Stay investors sue BofA, Wells Fargo
http://in.reuters.com/article/innovationNews/idINTRE5527FA20090603
Wells Fargo breaks ground on new downtown Waco bank location (thur)
http://www.wacotrib.com/news/content/news/stories/2009/06/03/06032009wacWellsFargo.html
TCF Financial
It's tough to say no to an overbearing uncle who prints money.
http://www.forbes.com/forbes/2009/0622/tarp-stimulus-states-saying-no-to-government.html
Colonial
Colonial BancGroup names new execs to replace Lowder (thur)
http://www.bizjournals.com/birmingham/stories/2009/06/01/daily28.html
Tuesday, June 2, 2009
Wednesday Morning News - STI jump, BoA needs more $?, Wells Hiring
General Banking News
"Runaway Millionaires" Leo Gao & Cara Young still on the loose
Former GMAC Bank under attack
http://money.cnn.com/2009/06/03/news/ally.enemy.fortune/?postversion=2009060304
Treasury Secretary's Secret Talking Points Reveal That Banks Were Forced to Surrender Ownership Stakes to Government
http://www.cnsnews.com/public/content/article.aspx?RsrcID=49004
Banks Eager To Repay TARP Find New Capital Hurdles
Concise article
http://money.cnn.com/news/newsfeeds/articles/djf500/200906021557DOWJONESDJONLINE000567_FORTUNE5.htm
Leaving So Soon?
http://dealbook.blogs.nytimes.com/2009/06/02/leaving-so-soon/?ref=business
JPMorgan Leads U.S. Banks Selling $8.7 Billion of Common Stock
http://www.bloomberg.com/apps/news?pid=20601103&sid=aN8GiTzvWJA8&refer=us
B of A, JPMorgan, others raise $19 billion
http://www.reuters.com/article/gc06/idUSTRE5514IG20090602
Fed Said to Raise Requirements for Banks to Repay TARP Funds
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajQ3cx_jGULI
SunTrust
SunTrust shares jump on analyst upgrade
http://www.forbes.com/feeds/ap/2009/06/02/ap6494763.html
Bank of America
Bank of America Will ‘Comfortably’ Beat Capital Goal
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGdQ.Qcs4w8A&refer=home
BofA, Citi risk getting left behind by healthy rivals
http://www.reuters.com/article/americasDealsNews/idUSTRE55204720090603
Wells Fargo
Former Wells Fargo workers allege race-based scheme in suit
http://www.baltimoresun.com/business/bal-wells-fargo-0602,0,4321854.story
Shift by Hartmarx Reopens Bidding
http://www.nytimes.com/2009/06/02/business/02hartmarx.html
Wells Fargo to create 200 jobs in San Antonio
http://www.bizjournals.com/sanantonio/stories/2009/06/01/daily17.html
Citigroup
Citi reportedly halts some severance payments
http://www.marketwatch.com/story/citi-reportedly-halts-some-severance-payments
KeyCorp
KeyCorp raises $1 billion in new capital
http://www.google.com/hostednews/ap/article/ALeqM5g_EKH7cQdeBXhJrvw8Jnqrsuu1CgD98IKMVO0
"Runaway Millionaires" Leo Gao & Cara Young still on the loose
Former GMAC Bank under attack
http://money.cnn.com/2009/06/03/news/ally.enemy.fortune/?postversion=2009060304
Treasury Secretary's Secret Talking Points Reveal That Banks Were Forced to Surrender Ownership Stakes to Government
http://www.cnsnews.com/public/content/article.aspx?RsrcID=49004
Banks Eager To Repay TARP Find New Capital Hurdles
Concise article
http://money.cnn.com/news/newsfeeds/articles/djf500/200906021557DOWJONESDJONLINE000567_FORTUNE5.htm
Leaving So Soon?
http://dealbook.blogs.nytimes.com/2009/06/02/leaving-so-soon/?ref=business
JPMorgan Leads U.S. Banks Selling $8.7 Billion of Common Stock
http://www.bloomberg.com/apps/news?pid=20601103&sid=aN8GiTzvWJA8&refer=us
B of A, JPMorgan, others raise $19 billion
http://www.reuters.com/article/gc06/idUSTRE5514IG20090602
Fed Said to Raise Requirements for Banks to Repay TARP Funds
http://www.bloomberg.com/apps/news?pid=20601087&sid=ajQ3cx_jGULI
SunTrust
SunTrust shares jump on analyst upgrade
http://www.forbes.com/feeds/ap/2009/06/02/ap6494763.html
Bank of America
Bank of America Will ‘Comfortably’ Beat Capital Goal
http://www.bloomberg.com/apps/news?pid=20601087&sid=aGdQ.Qcs4w8A&refer=home
BofA, Citi risk getting left behind by healthy rivals
http://www.reuters.com/article/americasDealsNews/idUSTRE55204720090603
Wells Fargo
Former Wells Fargo workers allege race-based scheme in suit
http://www.baltimoresun.com/business/bal-wells-fargo-0602,0,4321854.story
Shift by Hartmarx Reopens Bidding
http://www.nytimes.com/2009/06/02/business/02hartmarx.html
Wells Fargo to create 200 jobs in San Antonio
http://www.bizjournals.com/sanantonio/stories/2009/06/01/daily17.html
Citigroup
Citi reportedly halts some severance payments
http://www.marketwatch.com/story/citi-reportedly-halts-some-severance-payments
KeyCorp
KeyCorp raises $1 billion in new capital
http://www.google.com/hostednews/ap/article/ALeqM5g_EKH7cQdeBXhJrvw8Jnqrsuu1CgD98IKMVO0
Monday, June 1, 2009
New Topic Threads
Add a comment to this post to start a new topic thread. Good comments will earn their own post for discussion. (New Comment Monday)
Tuesday News - SunTrust Offering, BoA Wins, JP Morgan
General Banking News
Newest Ruse: Banks Capitalizing on "Toxic Assets"
http://www.moneymorning.com/2009/06/02/banks-toxic-assets/
Fed Says Banks Must Raise Equity Before Repaying TARP
http://www.bloomberg.com/apps/news?pid=20601103&sid=abgtwRAEfeLY&refer=us
Banks pay in-house advisers big fees
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/05/17/BU2217KRBT.DTL
Bankers oppose creation of lone U.S. regulator
http://news.cincinnati.com/article/20090531/BIZ/905310325/1076
JPMorgan, Amex to sell stock to get out of TARP
http://www.reuters.com/article/ousiv/idUSN0146572120090601
SunTrust Bank
SunTrust plans stock offering to meet feds’ mandate
http://www.ajc.com/services/content/business/stories/2009/06/01/suntrust_stock_offering.html
SunTrust Banks, Inc. Announces Pricing of $1.4 Billion Common Stock Offering
http://money.cnn.com/news/newsfeeds/articles/prnewswire/200906011855PR_NEWS_USPR_____CL25922.htm
Bank of America
Bank of America Wins Ruling on $1.6 Billion Verdict
http://www.bloomberg.com/apps/news?pid=20601103&sid=aHiq6ARK65EE&refer=us
Bank of America Names McMahon to Investment Bank Post
http://www.bloomberg.com/apps/news?pid=20601087&sid=aCB.7KofCnds&refer=home
BofA Adds Strategists after Lead Director’s Departure
http://www.housingwire.com/2009/06/01/bofa-adds-strategists-after-lead-directors-departure/
Citigroup Booted Out Of DOW, Bank Of America May Be Next
http://www.businessinsider.com/henry-blodget-citigroup-booted-out-of-dow-bank-of-america-may-be-next-2009-6
Wells Fargo
Wells Fargo launches Wachovia ad campaign
http://www.bizjournals.com/atlanta/stories/2009/06/01/daily14.html
Citigroup
Travelers Cos, In Ironic Twist, Takes Citi's Place In Dow
http://money.cnn.com/news/newsfeeds/articles/djf500/200906011426DOWJONESDJONLINE000502_FORTUNE5.htm
BB & T
Banks Ready To Throw In The TARP
http://www.forbes.com/2009/06/01/banking-tarp-fed-business-beltway-tarp.html
Judge refuses to close BB&T whistleblower case
http://www.rockymounttelegram.com/news/state/judge-refuses-to-close-bbt-whistleblower-case-638222.html
BB&T introduces unified managed account program for wealthy clients
http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/06-01-2009/0005035731&EDATE=
J.P. Morgan
JPMorgan Chase seeks to raise $5 billion in bid to repay government's TARP program
http://www.startribune.com/business/46655887.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUU
Fresh from bailout, JPMorgan among banks looking to buy rivals
http://www.app.com/article/20090601/BUSINESS/90601051/1003/Fresh+from+bailout++JPMorgan+among+banks+looking+to+buy+rivals
US Bancorp and TCF Financial
CEO's Rank 22nd and 18th in Minnesota CEO Compensation
http://ww2.startribune.com/projects/exec_comp/topCeoView.html
Newest Ruse: Banks Capitalizing on "Toxic Assets"
http://www.moneymorning.com/2009/06/02/banks-toxic-assets/
Fed Says Banks Must Raise Equity Before Repaying TARP
http://www.bloomberg.com/apps/news?pid=20601103&sid=abgtwRAEfeLY&refer=us
Banks pay in-house advisers big fees
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/05/17/BU2217KRBT.DTL
Bankers oppose creation of lone U.S. regulator
http://news.cincinnati.com/article/20090531/BIZ/905310325/1076
JPMorgan, Amex to sell stock to get out of TARP
http://www.reuters.com/article/ousiv/idUSN0146572120090601
SunTrust Bank
SunTrust plans stock offering to meet feds’ mandate
http://www.ajc.com/services/content/business/stories/2009/06/01/suntrust_stock_offering.html
SunTrust Banks, Inc. Announces Pricing of $1.4 Billion Common Stock Offering
http://money.cnn.com/news/newsfeeds/articles/prnewswire/200906011855PR_NEWS_USPR_____CL25922.htm
Bank of America
Bank of America Wins Ruling on $1.6 Billion Verdict
http://www.bloomberg.com/apps/news?pid=20601103&sid=aHiq6ARK65EE&refer=us
Bank of America Names McMahon to Investment Bank Post
http://www.bloomberg.com/apps/news?pid=20601087&sid=aCB.7KofCnds&refer=home
BofA Adds Strategists after Lead Director’s Departure
http://www.housingwire.com/2009/06/01/bofa-adds-strategists-after-lead-directors-departure/
Citigroup Booted Out Of DOW, Bank Of America May Be Next
http://www.businessinsider.com/henry-blodget-citigroup-booted-out-of-dow-bank-of-america-may-be-next-2009-6
Wells Fargo
Wells Fargo launches Wachovia ad campaign
http://www.bizjournals.com/atlanta/stories/2009/06/01/daily14.html
Citigroup
Travelers Cos, In Ironic Twist, Takes Citi's Place In Dow
http://money.cnn.com/news/newsfeeds/articles/djf500/200906011426DOWJONESDJONLINE000502_FORTUNE5.htm
BB & T
Banks Ready To Throw In The TARP
http://www.forbes.com/2009/06/01/banking-tarp-fed-business-beltway-tarp.html
Judge refuses to close BB&T whistleblower case
http://www.rockymounttelegram.com/news/state/judge-refuses-to-close-bbt-whistleblower-case-638222.html
BB&T introduces unified managed account program for wealthy clients
http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/06-01-2009/0005035731&EDATE=
J.P. Morgan
JPMorgan Chase seeks to raise $5 billion in bid to repay government's TARP program
http://www.startribune.com/business/46655887.html?elr=KArks:DCiU1OiP:DiiUiD3aPc:_Yyc:aUU
Fresh from bailout, JPMorgan among banks looking to buy rivals
http://www.app.com/article/20090601/BUSINESS/90601051/1003/Fresh+from+bailout++JPMorgan+among+banks+looking+to+buy+rivals
US Bancorp and TCF Financial
CEO's Rank 22nd and 18th in Minnesota CEO Compensation
http://ww2.startribune.com/projects/exec_comp/topCeoView.html
Bank of America Rants & Issues - Part II
F Bank of America
http://shaggycub.livejournal.com/99722.html
Why Bank of America is Failing
http://dandreifort.wordpress.com/2009/05/07/why-bank-of-america-is-failing/
Make The Banks Give Back Our Stimulus
http://www.theinsider.com/news/2199786_Make_The_Banks_Give_Back_Our_Stimulus
Tenants evict Bank of America
http://www.providenceamerican.com/news.cfm?article_id=2064
A Credit Card You Want to Toss
http://bizzstory.blogspot.com/2009/04/credit-card-you-want-to-toss.html
You may have seen this one already!
http://ihateboa.com/
Seems like a theme...
http://nyc-brooklyn.blogspot.com/2009/03/i-hate-bank-of-america.html
http://shaggycub.livejournal.com/99722.html
Why Bank of America is Failing
http://dandreifort.wordpress.com/2009/05/07/why-bank-of-america-is-failing/
Make The Banks Give Back Our Stimulus
http://www.theinsider.com/news/2199786_Make_The_Banks_Give_Back_Our_Stimulus
Tenants evict Bank of America
http://www.providenceamerican.com/news.cfm?article_id=2064
A Credit Card You Want to Toss
http://bizzstory.blogspot.com/2009/04/credit-card-you-want-to-toss.html
You may have seen this one already!
http://ihateboa.com/
Seems like a theme...
http://nyc-brooklyn.blogspot.com/2009/03/i-hate-bank-of-america.html
Weekend / Monday News - Least Valuable CEO's, Resigning Director
General Banking News
Entrepreneurs, Bailouts and the Last American Hero
Short and Stressed
Fifth Third, Regions, SunTrust & Citigroup
http://ftalphaville.ft.com/blog/2009/06/01/56439/short-and-unstressed/
UPDATE 2-Problem U.S. banks highest since 1994 - FDIC
http://news.alibaba.com/article/detail/markets/100109718-1-update-2-problem-u.s.-banks-highest.html
On the trail of the 10 million dollar runaways
http://www.independent.co.uk/news/world/australasia/on-the-trail-of-the-10-million-dollar-runaways-1693387.html
Fifth Third, SunTrust and Wachovia named co-conspirators in lawsuit
http://freeport.nassauguardian.net/national_local/305653815761745.php
Related Article
http://www.gotoby.com/news/Ginn_Lawsuit_includes_banks.htm
Lawmen ride in to credit 'Wild West'
http://www.business24-7.ae/Articles/2009/5/Pages/29052009/05302009_d5a92bb5ef084858970e1b1db603085c.aspx
Bank of America
BofA lead director Sloan steps down
http://www.reuters.com/article/etfNews/idUSN2943818420090529
Second Longtime Director Resigns at Bank of America
http://www.nytimes.com/2009/05/30/business/30bank.html?ref=business
Did Bernanke and Paulson Commit Bank Fraud?
http://www.globalresearch.ca/index.php?context=va&aid=13786
Regions
Ritter rated second least valuable boss
http://www.al.com/business/birminghamnews/inc.ssf?/base/business/1243584964257040.xml&coll=2
Related Bloomberg Article
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOqGBzGEkJbg
Regions cut-backs? Any truth to this post?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_R/threadview?m=tm&bn=24408&tid=37265&mid=37265&tof=1&rt=2&frt=2&off=1
American Express
Least valuable financial CEO - Ken Chenault
http://www.al.com/business/birminghamnews/inc.ssf?/base/business/1243584964257040.xml&coll=2
Related Bloomberg Article
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOqGBzGEkJbg
Wells Fargo
Wells Fargo rejects offer for Hartmarx as ill-suited
http://www.chicagotribune.com/business/chi-sat-hartmarx-wells-fargo-053may30,0,2964331.story
Wells Fargo Won't Back Down From Capital Plan
http://www.thestreet.com/story/10507337/1/wells-fargo-wont-back-down-from-capital-plan.html?cm_ven=GOOGLEFI
Citigroup
Does Citigroup have a retention problem?
http://news.efinancialcareers.co.uk/newsandviews_item/newsItemId-19286
Citigroup Stuck With Bernanke Offer Rival Banks Plan to Refuse
http://www.bloomberg.com/apps/news?pid=20601109&sid=ans2mNbxPb2o&refer=home
Entrepreneurs, Bailouts and the Last American Hero
Short and Stressed
Fifth Third, Regions, SunTrust & Citigroup
http://ftalphaville.ft.com/blog/2009/06/01/56439/short-and-unstressed/
UPDATE 2-Problem U.S. banks highest since 1994 - FDIC
http://news.alibaba.com/article/detail/markets/100109718-1-update-2-problem-u.s.-banks-highest.html
On the trail of the 10 million dollar runaways
http://www.independent.co.uk/news/world/australasia/on-the-trail-of-the-10-million-dollar-runaways-1693387.html
Fifth Third, SunTrust and Wachovia named co-conspirators in lawsuit
http://freeport.nassauguardian.net/national_local/305653815761745.php
Related Article
http://www.gotoby.com/news/Ginn_Lawsuit_includes_banks.htm
Lawmen ride in to credit 'Wild West'
http://www.business24-7.ae/Articles/2009/5/Pages/29052009/05302009_d5a92bb5ef084858970e1b1db603085c.aspx
Bank of America
BofA lead director Sloan steps down
http://www.reuters.com/article/etfNews/idUSN2943818420090529
Second Longtime Director Resigns at Bank of America
http://www.nytimes.com/2009/05/30/business/30bank.html?ref=business
Did Bernanke and Paulson Commit Bank Fraud?
http://www.globalresearch.ca/index.php?context=va&aid=13786
Regions
Ritter rated second least valuable boss
http://www.al.com/business/birminghamnews/inc.ssf?/base/business/1243584964257040.xml&coll=2
Related Bloomberg Article
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOqGBzGEkJbg
Regions cut-backs? Any truth to this post?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_R/threadview?m=tm&bn=24408&tid=37265&mid=37265&tof=1&rt=2&frt=2&off=1
American Express
Least valuable financial CEO - Ken Chenault
http://www.al.com/business/birminghamnews/inc.ssf?/base/business/1243584964257040.xml&coll=2
Related Bloomberg Article
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aOqGBzGEkJbg
Wells Fargo
Wells Fargo rejects offer for Hartmarx as ill-suited
http://www.chicagotribune.com/business/chi-sat-hartmarx-wells-fargo-053may30,0,2964331.story
Wells Fargo Won't Back Down From Capital Plan
http://www.thestreet.com/story/10507337/1/wells-fargo-wont-back-down-from-capital-plan.html?cm_ven=GOOGLEFI
Citigroup
Does Citigroup have a retention problem?
http://news.efinancialcareers.co.uk/newsandviews_item/newsItemId-19286
Citigroup Stuck With Bernanke Offer Rival Banks Plan to Refuse
http://www.bloomberg.com/apps/news?pid=20601109&sid=ans2mNbxPb2o&refer=home
Thursday, May 28, 2009
Thursday Night / Friday News (and opinion) - BoA, First Niagara, JP Morgan Hires
General Banking News
Hunt continues for millionaire runaways
Still on the run!
http://tvnz.co.nz/national-news/hunt-continues-millionaire-runaways-2761683
U.S. Banks Have $168 Billion Reason to Avoid Government’s PPIP
http://www.bloomberg.com/apps/news?pid=20601087&sid=aa5Joz86_K6w&refer=home
U.S. banks borrow less from Fed in latest week
http://www.reuters.com/article/bondsNews/idUSN2851971420090528
Questions Delay Sale Of Toxic Bank Assets
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/27/AR2009052702042.html?hpid=topnews
Wall Street faces pay conundrum amid TARP rules
http://www.reuters.com/article/companyNews/idUKTRE54R6OO20090528?symbol=BAC.N
Should the U.S. force bank debt conversions?
http://www.reuters.com/article/companyNews/idUKTRE54R6NI20090528?symbol=RF.N&pageNumber=2&virtualBrandChannel=0
Fed makes banks' capital raising tougher: report
http://www.reuters.com/article/companyNews/idUKTRE54R1AG20090528?symbol=PNC.N
Any limit to bank arrogance?
http://www.zacks.com/stock/news/20522/Any+Limit+to+Bank+Arrogance%3F
Bank of America
Merrill Lynch’s Chief Americas Energy Trader Said to Leave Firm
http://www.bloomberg.com/apps/news?pid=20601087&sid=afK1DE1v17Ko&refer=home
Countrywide loses bid to dismiss mortgage lawsuit
http://www.reuters.com/article/companyNews/idUKN2834491720090528?symbol=BAC.N
Bank of America eyes big share swap to add capital
http://www.reuters.com/article/companyNews/idUKN2832040720090528?symbol=BAC.N
Bank of America getting into the luxury hotel business
http://content.usatoday.com/communities/hotelcheckin/post/2009/05/67364023/1
First Niagara
First Niagara repays TARP proceeds, shares up
http://www.reuters.com/article/companyNews/idUKTRE54R3GW20090528?symbol=PNC.N
Wells Fargo
Wells Fargo CEO says California in 'financial ruin'
http://triangle.bizjournals.com/triangle/othercities/losangeles/stories/2009/05/25/daily27.html
Wells Fargo Fighting Ban on Selling Bank-owned Houses in Cleveland
http://www.wcpn.org/WCPN/news/26369/
JP Morgan
J.P. Morgan Chase Adding 250 Jobs to Rochester
http://www.13wham.com/mostpopular/story/J-P-Morgan-Chase-Adding-250-Jobs-to-Rochester/tmezMA3kPkqmuPsS5v_f3g.cspx
PNC Financial
PNC Chief Rohr Expects Profit at Pre-Recession Levels
http://www.bloomberg.com/apps/news?pid=20601103&sid=auYcjvJL5jBQ&refer=news
Morgan Stanley
Morgan Stanley Bullying Is Least of SEC’s Woes: Jonathan Weil
http://www.bloomberg.com/apps/news?pid=20601039&sid=awpnU9n.2OYU&refer=home
Bad Apples At Morgan Stanley
http://www.forbes.com/2009/05/26/scrutiny-morgan-stanley-markets-equity-banks.html
Hunt continues for millionaire runaways
Still on the run!
http://tvnz.co.nz/national-news/hunt-continues-millionaire-runaways-2761683
U.S. Banks Have $168 Billion Reason to Avoid Government’s PPIP
http://www.bloomberg.com/apps/news?pid=20601087&sid=aa5Joz86_K6w&refer=home
U.S. banks borrow less from Fed in latest week
http://www.reuters.com/article/bondsNews/idUSN2851971420090528
Questions Delay Sale Of Toxic Bank Assets
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/27/AR2009052702042.html?hpid=topnews
Wall Street faces pay conundrum amid TARP rules
http://www.reuters.com/article/companyNews/idUKTRE54R6OO20090528?symbol=BAC.N
Should the U.S. force bank debt conversions?
http://www.reuters.com/article/companyNews/idUKTRE54R6NI20090528?symbol=RF.N&pageNumber=2&virtualBrandChannel=0
Fed makes banks' capital raising tougher: report
http://www.reuters.com/article/companyNews/idUKTRE54R1AG20090528?symbol=PNC.N
Any limit to bank arrogance?
http://www.zacks.com/stock/news/20522/Any+Limit+to+Bank+Arrogance%3F
Bank of America
Merrill Lynch’s Chief Americas Energy Trader Said to Leave Firm
http://www.bloomberg.com/apps/news?pid=20601087&sid=afK1DE1v17Ko&refer=home
Countrywide loses bid to dismiss mortgage lawsuit
http://www.reuters.com/article/companyNews/idUKN2834491720090528?symbol=BAC.N
Bank of America eyes big share swap to add capital
http://www.reuters.com/article/companyNews/idUKN2832040720090528?symbol=BAC.N
Bank of America getting into the luxury hotel business
http://content.usatoday.com/communities/hotelcheckin/post/2009/05/67364023/1
First Niagara
First Niagara repays TARP proceeds, shares up
http://www.reuters.com/article/companyNews/idUKTRE54R3GW20090528?symbol=PNC.N
Wells Fargo
Wells Fargo CEO says California in 'financial ruin'
http://triangle.bizjournals.com/triangle/othercities/losangeles/stories/2009/05/25/daily27.html
Wells Fargo Fighting Ban on Selling Bank-owned Houses in Cleveland
http://www.wcpn.org/WCPN/news/26369/
JP Morgan
J.P. Morgan Chase Adding 250 Jobs to Rochester
http://www.13wham.com/mostpopular/story/J-P-Morgan-Chase-Adding-250-Jobs-to-Rochester/tmezMA3kPkqmuPsS5v_f3g.cspx
PNC Financial
PNC Chief Rohr Expects Profit at Pre-Recession Levels
http://www.bloomberg.com/apps/news?pid=20601103&sid=auYcjvJL5jBQ&refer=news
Morgan Stanley
Morgan Stanley Bullying Is Least of SEC’s Woes: Jonathan Weil
http://www.bloomberg.com/apps/news?pid=20601039&sid=awpnU9n.2OYU&refer=home
Bad Apples At Morgan Stanley
http://www.forbes.com/2009/05/26/scrutiny-morgan-stanley-markets-equity-banks.html
Wednesday Night / Thursday News - SunTrust, KeyCorp, Regions
General Banking News
Consumers, investors protected under overhaul
It's coming......
http://www.boston.com/business/articles/2009/05/28/consumers_investors_protected_under_overhaul/
Banks find ways to boost fees; checking accounts latest target
http://www.usatoday.com/money/industries/banking/2009-05-27-checks-fees-banks_N.htm
Questions Delay Sale Of Toxic Bank Assets
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/27/AR2009052702042.html?hpid=topnews
Georgia banks’ losses in first quarter: $1.2 billion
http://www.ajc.com/business/content/business/stories/2009/05/27/georgia_banks_earnings.html
Fed would serve as risk regulator under Obama plan
http://www.google.com/hostednews/ap/article/ALeqM5hJRk71G8GBZrHsXiPhVw0v8iT2gwD98EUJHG0
SunTrust
SunTrust Backs Out Of Deal To Pay Back Investor Losses
Read with caution - from "fraud lawyer" blog!
http://www.investmentfraudlawyerblog.com/2009/05/suntrust_backs_out_of_deal_to.html
Taber named to top post at SunTrust Bank, West Georgia
http://www.ledger-enquirer.com/news/breaking_news/story/731431.html
KeyCorp
KeyCorp to undertake share exchange offer
http://www.forbes.com/feeds/ap/2009/05/27/ap6471438.html
KeyCorp to cut 300 more jobs
http://www.tradingmarkets.com/.site/news/Stock%20News/2343276/
Bank of America
GMAC credit cards switching to BofA
http://www.charlotteobserver.com/business/story/748319.html
Regions
Regions Financial shares rise on analyst upgrade
http://www.forbes.com/feeds/ap/2009/05/27/ap6471015.html
Wells Fargo
Has Wells Fargo Stock Run Too Far?
http://www.time.com/time/business/article/0,8599,1901343,00.html
Consumers, investors protected under overhaul
It's coming......
http://www.boston.com/business/articles/2009/05/28/consumers_investors_protected_under_overhaul/
Banks find ways to boost fees; checking accounts latest target
http://www.usatoday.com/money/industries/banking/2009-05-27-checks-fees-banks_N.htm
Questions Delay Sale Of Toxic Bank Assets
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/27/AR2009052702042.html?hpid=topnews
Georgia banks’ losses in first quarter: $1.2 billion
http://www.ajc.com/business/content/business/stories/2009/05/27/georgia_banks_earnings.html
Fed would serve as risk regulator under Obama plan
http://www.google.com/hostednews/ap/article/ALeqM5hJRk71G8GBZrHsXiPhVw0v8iT2gwD98EUJHG0
SunTrust
SunTrust Backs Out Of Deal To Pay Back Investor Losses
Read with caution - from "fraud lawyer" blog!
http://www.investmentfraudlawyerblog.com/2009/05/suntrust_backs_out_of_deal_to.html
Taber named to top post at SunTrust Bank, West Georgia
http://www.ledger-enquirer.com/news/breaking_news/story/731431.html
KeyCorp
KeyCorp to undertake share exchange offer
http://www.forbes.com/feeds/ap/2009/05/27/ap6471438.html
KeyCorp to cut 300 more jobs
http://www.tradingmarkets.com/.site/news/Stock%20News/2343276/
Bank of America
GMAC credit cards switching to BofA
http://www.charlotteobserver.com/business/story/748319.html
Regions
Regions Financial shares rise on analyst upgrade
http://www.forbes.com/feeds/ap/2009/05/27/ap6471015.html
Wells Fargo
Has Wells Fargo Stock Run Too Far?
http://www.time.com/time/business/article/0,8599,1901343,00.html
Tuesday, May 26, 2009
Bank overdraft fees - Will they be regulated?
I posted an earlier news article about SunTrust Bank being sued for their overdraft fees associated with the manner in which they process credits and debits in a customer's account. Although I initially posted the item because it's a situation a lot of bank customers have experienced, I hadn't looked too far into the matter.
Upon closer inspection, I see several banks have (or are) being sued under a similar complaint. Banks make large sums of money on a multitude of fees charged. In fact, in 2008, SunTrust Bank had income of over $1.7B in "Service charges, Card fees and other charges and fees." Due to huge provisions for loan losses, their net interest income was only $2.15B. They stated that their "transaction fee-related income....increased by $141.5M, or 8.9%....., driven by an increase in both consumer and business deposit account activity, primarily due to the growth in the number of accounts, higher non-sufficient fund rates, and an increase in the occurrence of non-sufficient fund fees."
Based on the level of consumer dissatisfaction and current regulatory environment, I wonder if this issue will make it past the courts and into Congress? The UK is already ahead of the situation, as the High Court has already taken up the issue of high overdraft fees. (See article "Court rules OFT can assess bank overdraft charges" http://www.direct.gov.uk/en/Nl1/Newsroom/DG_175465.
Upon closer inspection, I see several banks have (or are) being sued under a similar complaint. Banks make large sums of money on a multitude of fees charged. In fact, in 2008, SunTrust Bank had income of over $1.7B in "Service charges, Card fees and other charges and fees." Due to huge provisions for loan losses, their net interest income was only $2.15B. They stated that their "transaction fee-related income....increased by $141.5M, or 8.9%....., driven by an increase in both consumer and business deposit account activity, primarily due to the growth in the number of accounts, higher non-sufficient fund rates, and an increase in the occurrence of non-sufficient fund fees."
Based on the level of consumer dissatisfaction and current regulatory environment, I wonder if this issue will make it past the courts and into Congress? The UK is already ahead of the situation, as the High Court has already taken up the issue of high overdraft fees. (See article "Court rules OFT can assess bank overdraft charges" http://www.direct.gov.uk/en/Nl1/Newsroom/DG_175465.
Wednesday's News - Australian's Runaways and Zombie Banks
General Bank News
U.S. Stocks Retreat as Treasury Yields Climb, Monsanto Slides
http://www.bloomberg.com/apps/news?pid=20601087&sid=avT8w9DCovhM&refer=home
No bonuses for bank workers, just raises
This will go over well
http://www.dailyfinance.com/2009/05/27/no-bonuses-for-bank-workers-just-raises/
Banks earned $7.6B in 1Q after record loss in 4Q
http://www.google.com/hostednews/ap/article/ALeqM5i0HyquStzJHIwPDAG4GQQc0-_OEAD98EKQMO1
RPT-Novel ideas surface for U.S. banks' executive pay
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN2237847120090526
American Express, Discover Top Credit Card Provider Rankings
HSBC, WaMu and BOA at the bottom.
http://seekingalpha.com/article/139635-american-express-discover-top-credit-card-provider-rankings
Banks Still Lobbying To Game PPIP
http://www.businessinsider.com/banks-still-lobbying-to-game-ppip-2009-5
The Backdoor Bailout for Banks and the FDIC
http://business.theatlantic.com/2009/05/the_backdoor_bailout_for_banks_and_the_fdic.php
Chinese casino drawn into bank bungle millionaires' tangled web
They're blowing their dough at the casino!
http://www.smh.com.au/world/chinese-casino-drawn-into-bank-bungle-millionaires-tangled-web-20090527-bmon.html
Runaway millionaires may have separated
http://www.stuff.co.nz/national/2443994/Runaway-millionaires-may-have-separated
The Strange Allure of Florida Banks
http://www.reuters.com/article/bigMoney/idUS277917444420090526
Deposit insurance ceiling extended
http://www.post-gazette.com/pg/09147/972821-68.stm
Two Illinois Banks Fail
See sidebar for link to failed institutions
http://www.bankinfosecurity.com/articles.php?art_id=1492
UBS Will Stick to Market-Level Salaries, Gruebel Tells Staff
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWZvH9qVeXoQ&refer=home
Zombie banks walk among us
http://money.cnn.com/2009/05/22/news/companies/zombie_banks/?postversion=2009052615
WaMu's gone, but is Chase 'the one?'
http://www.komonews.com/economy/45877837.html
T2 Partners books profits on Wells Fargo, Amex
Sell WFC, Buy BAC
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSNYS00507920090520
HSBC
HSBC sees tough 2010, may rethink US credit cards
http://www.reuters.com/article/earningsSeason/idUSLM65022620090522
Citigroup
Moody's cuts rating on Citigroup subsidiary
http://www.forbes.com/feeds/ap/2009/05/26/ap6465464.html
Bank of America
Banking On BofA's Long-Term Viability
http://www.forbes.com/2009/05/26/bank-america-financial-markets-equity-capital.html
Bank of America Raises $26 Billion in Capital Plan (Update4)
http://www.bloomberg.com/apps/news?pid=20601087&sid=a4k23DPkFsgA&refer=home
JP Morgan
JPMorgan likely to reap $29 Bln windfall on WaMu bad loans purchase
http://www.rttnews.com/Content/BreakingNews.aspx?Node=B1&Id=959650%20&Category=Breaking%20News
Wells Fargo
Wells Fargo poaches U.S. Trust's N.E. chief
http://www.bizjournals.com/boston/stories/2009/05/25/daily33.html
Wells-Fargo Overdraft Fees - Potential Litigation
http://chimicles.com/case/wells-fargo-overdraft-fees-potential
Wachovia Sued Over 'Bad-Faith' Charging of Overdraft Fees
http://www.law.com/jsp/article.jsp?id=1202429119415
QC Die Casting employees demand meeting from Wells Fargo
http://www.wqad.com/news/wqad-qc-die-casting-wells-fargo-052609,0,6981430.story
Union angry at bailed out bank
Taxpayer's dollars cause trouble
http://www.upi.com/Business_News/2009/05/26/Union-angry-at-bailed-out-bank/UPI-62541243366977/
Hartmarx agrees to sell assets
http://www.chicagotribune.com/business/chi-sat-hartmarx-0523-may23,0,1199285.story
U.S. Stocks Retreat as Treasury Yields Climb, Monsanto Slides
http://www.bloomberg.com/apps/news?pid=20601087&sid=avT8w9DCovhM&refer=home
No bonuses for bank workers, just raises
This will go over well
http://www.dailyfinance.com/2009/05/27/no-bonuses-for-bank-workers-just-raises/
Banks earned $7.6B in 1Q after record loss in 4Q
http://www.google.com/hostednews/ap/article/ALeqM5i0HyquStzJHIwPDAG4GQQc0-_OEAD98EKQMO1
RPT-Novel ideas surface for U.S. banks' executive pay
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN2237847120090526
American Express, Discover Top Credit Card Provider Rankings
HSBC, WaMu and BOA at the bottom.
http://seekingalpha.com/article/139635-american-express-discover-top-credit-card-provider-rankings
Banks Still Lobbying To Game PPIP
http://www.businessinsider.com/banks-still-lobbying-to-game-ppip-2009-5
The Backdoor Bailout for Banks and the FDIC
http://business.theatlantic.com/2009/05/the_backdoor_bailout_for_banks_and_the_fdic.php
Chinese casino drawn into bank bungle millionaires' tangled web
They're blowing their dough at the casino!
http://www.smh.com.au/world/chinese-casino-drawn-into-bank-bungle-millionaires-tangled-web-20090527-bmon.html
Runaway millionaires may have separated
http://www.stuff.co.nz/national/2443994/Runaway-millionaires-may-have-separated
The Strange Allure of Florida Banks
http://www.reuters.com/article/bigMoney/idUS277917444420090526
Deposit insurance ceiling extended
http://www.post-gazette.com/pg/09147/972821-68.stm
Two Illinois Banks Fail
See sidebar for link to failed institutions
http://www.bankinfosecurity.com/articles.php?art_id=1492
UBS Will Stick to Market-Level Salaries, Gruebel Tells Staff
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWZvH9qVeXoQ&refer=home
Zombie banks walk among us
http://money.cnn.com/2009/05/22/news/companies/zombie_banks/?postversion=2009052615
WaMu's gone, but is Chase 'the one?'
http://www.komonews.com/economy/45877837.html
T2 Partners books profits on Wells Fargo, Amex
Sell WFC, Buy BAC
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSNYS00507920090520
HSBC
HSBC sees tough 2010, may rethink US credit cards
http://www.reuters.com/article/earningsSeason/idUSLM65022620090522
Citigroup
Moody's cuts rating on Citigroup subsidiary
http://www.forbes.com/feeds/ap/2009/05/26/ap6465464.html
Bank of America
Banking On BofA's Long-Term Viability
http://www.forbes.com/2009/05/26/bank-america-financial-markets-equity-capital.html
Bank of America Raises $26 Billion in Capital Plan (Update4)
http://www.bloomberg.com/apps/news?pid=20601087&sid=a4k23DPkFsgA&refer=home
JP Morgan
JPMorgan likely to reap $29 Bln windfall on WaMu bad loans purchase
http://www.rttnews.com/Content/BreakingNews.aspx?Node=B1&Id=959650%20&Category=Breaking%20News
Wells Fargo
Wells Fargo poaches U.S. Trust's N.E. chief
http://www.bizjournals.com/boston/stories/2009/05/25/daily33.html
Wells-Fargo Overdraft Fees - Potential Litigation
http://chimicles.com/case/wells-fargo-overdraft-fees-potential
Wachovia Sued Over 'Bad-Faith' Charging of Overdraft Fees
http://www.law.com/jsp/article.jsp?id=1202429119415
QC Die Casting employees demand meeting from Wells Fargo
http://www.wqad.com/news/wqad-qc-die-casting-wells-fargo-052609,0,6981430.story
Union angry at bailed out bank
Taxpayer's dollars cause trouble
http://www.upi.com/Business_News/2009/05/26/Union-angry-at-bailed-out-bank/UPI-62541243366977/
Hartmarx agrees to sell assets
http://www.chicagotribune.com/business/chi-sat-hartmarx-0523-may23,0,1199285.story
Sunday, May 24, 2009
Bank Overdraft Fees - Example: SunTrust
I'm sure this process is repeated at most large banking institutions, and I'm sure it's been challenged before. We'll see where this one goes. See link:
Lawsuit filed against Sun Trust Banks
http://www.legallawhelp.com/news/2009/04/28/lawsuit-filed-against-sun-trust-banks/
Lawsuit filed against Sun Trust Banks
http://www.legallawhelp.com/news/2009/04/28/lawsuit-filed-against-sun-trust-banks/
Saturday, May 23, 2009
Weekend Bank News - Runaway Australians
General Banking News
Kiwis on the run updating Facebook profiles
Bank Employee receiving counselling - OW!
http://www.theaustralian.news.com.au/story/0,25197,25533782-12377,00.html
Bank hits back at millionaire runaways
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10574125
Bank satisfaction continues to decline
BB&T, SunTrust, Region above average, Fifth Third, BOA below average
http://www.heraldtribune.com/article/20090525/COLUMNIST/905251017/-1/NEWSSITEMAP
Is It Time to Buy Banks?
Ad for Motley Fool, but okay article
http://www.fool.com/investing/small-cap/2009/05/22/is-it-time-to-buy-banks.aspx
Buffett's Berkshire scales back on big stock purchases
Poor Warren - running out of cash?
http://seattletimes.nwsource.com/html/businesstechnology/2009256243_buffettstox24.html
An Unwarranted Sweet Deal For U.S. Banks
http://www.istockanalyst.com/article/viewarticle/articleid/3243583
Federal regulators close Strategic Capital Bank
See sidebar for a complete list of failed banks
http://www.chicagotribune.com/business/chi-champaign-bank-shut-down-may22,0,2560829.story
Big Banks to Pay Larger Share of FDIC Levy
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/22/AR2009052203442.html?nav=rss_business
Mob Tried to Bilk HSBC, Bank of America, Italy Says
http://www.bloomberg.com/apps/news?pid=20601100&sid=aDVQrZyCvwtk&refer=germany
Notice of Filing Securities Class Action against SunTrust Banks, Inc.
http://www.earthtimes.org/articles/show/notice-of-filing-securities-class-action-against-suntrust-banks-inc,835899.shtml
PhillyDeals: Time to give up the fantasies and face facts
http://www.philly.com/philly/business/homepage/20090524_PhillyDeals__Time_to_give_up_the_fantasies_and_face_facts.html
Wall St. job losses not quite adding up
http://www.crainsnewyork.com/article/20090524/SMALLBIZ/305249991
Bank of America
Bank of America Revises 64,000 Loans After Pact With States
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPPh1_faHRH0&refer=home
Institutional Investor Flee's From Bank Of America. Will Others Follow ??
http://www.glgroup.com/News/Institutional-Investor-Flees-From-Bank-Of-America.-Will-Others-Follow----39152.html
Kiwis on the run updating Facebook profiles
Bank Employee receiving counselling - OW!
http://www.theaustralian.news.com.au/story/0,25197,25533782-12377,00.html
Bank hits back at millionaire runaways
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10574125
Bank satisfaction continues to decline
BB&T, SunTrust, Region above average, Fifth Third, BOA below average
http://www.heraldtribune.com/article/20090525/COLUMNIST/905251017/-1/NEWSSITEMAP
Is It Time to Buy Banks?
Ad for Motley Fool, but okay article
http://www.fool.com/investing/small-cap/2009/05/22/is-it-time-to-buy-banks.aspx
Buffett's Berkshire scales back on big stock purchases
Poor Warren - running out of cash?
http://seattletimes.nwsource.com/html/businesstechnology/2009256243_buffettstox24.html
An Unwarranted Sweet Deal For U.S. Banks
http://www.istockanalyst.com/article/viewarticle/articleid/3243583
Federal regulators close Strategic Capital Bank
See sidebar for a complete list of failed banks
http://www.chicagotribune.com/business/chi-champaign-bank-shut-down-may22,0,2560829.story
Big Banks to Pay Larger Share of FDIC Levy
http://www.washingtonpost.com/wp-dyn/content/article/2009/05/22/AR2009052203442.html?nav=rss_business
Mob Tried to Bilk HSBC, Bank of America, Italy Says
http://www.bloomberg.com/apps/news?pid=20601100&sid=aDVQrZyCvwtk&refer=germany
Notice of Filing Securities Class Action against SunTrust Banks, Inc.
http://www.earthtimes.org/articles/show/notice-of-filing-securities-class-action-against-suntrust-banks-inc,835899.shtml
PhillyDeals: Time to give up the fantasies and face facts
http://www.philly.com/philly/business/homepage/20090524_PhillyDeals__Time_to_give_up_the_fantasies_and_face_facts.html
Wall St. job losses not quite adding up
http://www.crainsnewyork.com/article/20090524/SMALLBIZ/305249991
Bank of America
Bank of America Revises 64,000 Loans After Pact With States
http://www.bloomberg.com/apps/news?pid=20601087&sid=aPPh1_faHRH0&refer=home
Institutional Investor Flee's From Bank Of America. Will Others Follow ??
http://www.glgroup.com/News/Institutional-Investor-Flees-From-Bank-Of-America.-Will-Others-Follow----39152.html
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