Reprinted with permission from DC Report. The trade group for the payday loan industry, which profits from interest rates as high as 950% a year imposed on the poorest among us, is planning to hold its annual conference this year at Trump’s golf resort near Miami. The industry will have a lot to celebrate at the four-day conference in April of […]
“If a bank is too big to fail, it is too big to exist; when it comes to Wall Street reform, that must be our bottom line,” Sanders said in a blistering speech.
Hillary Clinton earned nearly $10 million in speaking fees in 2013, including almost $1.6 million from major Wall Street banks.
Washington (AFP) — U.S. regulators plan to raise capital requirements for the largest banks above global standards to ensure they do not place the financial system at risk, a top central banker said Tuesday. Daniel Tarullo, a member of the Federal Reserve board of governors, said it would set a capital surcharge for so-called too-big-to-fail […]
New York (AFP) — Hackers believed to be from Russia broke into the computer systems of JPMorgan Chase and a second U.S. bank earlier this month, sparking a federal investigation, U.S. media reported Wednesday. Bloomberg said two people familiar with the probe confirmed that the Federal Bureau of Investigation was examining the case to see […]
New York (AFP) — The S&P 500 topped the 2,000 mark for the first time Monday helped by more promises of economic support from the United States and European central banks. A fresh burst of merger activity also sparked buyers, with Switzerland’s Roche paying $8.3 billion for smaller pharmaceutical company InterMune, and fast-food chains Burger […]
By Mark Morris, The Kansas City Star KANSAS CITY, Mo. –– Some Atlanta gang members had no clue in October 2011 that their future freedom rested on a routine chore performed by an convenience store employee in Olathe, Kan. Cleaning up his trash bins about 6 a.m., the QuikTrip manager noticed that someone had dumped […]
By Paul Handley Washington (AFP) — Federal Reserve Chair Janet Yellen said Friday that the U.S. jobs market has not yet fully recovered, but acknowledged that data is sending mixed signals, spurring debate over inflationary pressures. In a speech to leading central bankers in Jackson Hole, Wyo., Yellen, who has kept Fed policy expansive due […]
By Sonia Avalos Buenos Aires (AFP) — Argentina blamed the United States Thursday for the legal battle that forced it into its second default in 13 years, accusing the judge and mediator in the case of “incompetence.” The country officially went into default Wednesday night after the failure of 11th-hour talks with two U.S. hedge […]
By Jim Puzzanghera, Los Angeles Times Three of the nation’s financial regulators on Wednesday launched a broad effort to identify rules that are unnecessary or too burdensome for banks. Under a 1996 law, the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency are required to conduct such […]
Vermonters aren’t like the rest of us: They live in a small state with a flinty history and a legendary suspicion of outsiders. That independent streak gained luster when 15 Vermont towns voted earlier this year to reinforce this independent tradition by approving a proposal to create a state bank. The Vermont Economic Development Authority would get a […]
Washington (AFP) – The Federal Reserve approved the capital plans of 25 major U.S. banks after stress tests Wednesday, but turned down those of five others, including Citigroup’s. The Fed said four of the five — Citi, HSBC North America, RBS Citizens Financial and Santander Holdings USA — had “qualitative” shortfalls in their capital foundations, […]
London (AFP) – Barclays will axe thousands of jobs and raise bonuses for its investment bankers this year, the under-fire British lender announced on Tuesday after posting a return to annual profits. Chief executive Antony Jenkins, who has himself declined a huge bonus as Barclays is probed along with other banks over possible manipulation of […]
New York (AFP) – Bank of America Wednesday reported an eightfold increase in quarterly earnings on improving credit quality as it positions for a strengthening U.S. economy. The U.S. banking giant reported fourth-quarter earnings of $3.2 billion on revenues of $21.5 billion, compared with earnings of $367 million on revenues of $18.7 billion in the […]
Sometimes it seems like Republicans — and much of the press covering them — are more worried about how those scrutinizing the financial industry and the nature of the 2008 economic collapse are spending their rather small operating budgets than the big picture: the hundreds of billions doled out to the big banks. Thus the […]