Tuesday's news was mainly about Wall Street, with the U.S. government pledging to invest up to $125 billion in nine of the nation's largest banks.
But Main Street banking institutions and their customers will be the ultimate beneficiaries of this financial boost, says one industry analyst.
"It's all about...
PNC Financial Services today announced plans to buy National City Corp., a Cleveland, OH-based banking group with more than 1,500 offices in nine states. PNC will pay $5.2 billion in an all stock deal, with the price of $2.23 a share, about 19 percent less than what National City closed at on Thursday.
This...
"We're local, and we're lending."
This is the message from Tom Randle, CEO/President of Sarasota Coastal Credit Union in Florida.
No banking institution is immune to today's global economic crisis, but Randle continues to spread the word about the safety and soundness of his 55-year-old credit union.
In this...
It's interesting how with everything going on in our industry this year, between the credit crisis, bank mergers, bank closings and emerging regulatory compliance requirements (and on and on and on), that we haven't had time to discuss much else. However, work continues out in the trenches, money is still moving into...
More bad news on the economic front, as the U.S. stock market on Thursday faced a third day of downturn. The market plunged on Wednesday -- the Dow closing down 514 points, recording its seventh-worst point loss in history.
The fears sparking these drops are the repercussions from the two bubbles that have burst...
Worries of a world recession continue, as European stock markets opened sharply lower on Wednesday following losses in Asia amid an expected retreat on Wall Street. The bad news includes U.S. banking giant Wachovia announcing its third quarter report and the largest loss by a bank - nearly $24 billion. Wachovia, being...
The crime of deception is now even more deceptive.
Multi-channel fraud - schemes that are launched simultaneously via telephone, Internet, in person and via mail - is a growing concern for financial institutions. And the linked crimes aren't always easy to spot.
In this exclusive interview, security expert Diana...
I just have to chuckle sometimes when I read headlines like the one that appeared recently - 'Dark Market' Takedown: Exclusive Cyber Club for Crooks Exposed.
It seems that the FBI is getting pretty clever at "blending" into the cyber criminal world. A tip of the hat goes to Shawn Henry, the FBI Cyber Division...
The Office of the Comptroller of the Currency (OCC) has issued new Fair Credit Reporting Act (FCRA) examination procedures for rules addressing affiliate marketing, identity theft red flags, and address discrepancies last week. These new examination procedures add to existing FCRA procedures.
OCC examiners performing...
Silver State was #11.
On Friday, Sept. 5, Silver State Bank of Henderson, Nev., was closed by the Nevada Financial Institutions Division - the 11th failed U.S. bank of 2008. Three days later, the bank's surviving branches reopened as part of Nevada State Bank. This is the story behind that transition, providing an...
Around the world, bank lending rates continue to ease despite economic uncertainty, with loosening of key inter-bank lending rates pointing to the stabilization of credit markets.
This comes after Monday's talk of a second economic stimulus package in the U.S. and the French government's injection of $14 billion...
The World Bank, an internationally-supported institution that provides loans to developing countries, is reported to have suffered a network intrusion that one insider labeled "an unprecedented crisis."
The breach, first reported by Fox News, alleges that servers in the Washington, D.C.-based bank's treasury unit...
Banco Santander, the Spanish banking giant and the fifth most profitable bank in Europe, has purchased the rest of U.S.-based Sovereign Bankcorp. The Spanish bank had previously bought a 25 percent stake in the bank holding company based in Wyomissing, PA., with operations across the Northeast.
A statement by Banco...
After a week of turmoil, the financial world markets leveled off this past Friday, as the Dow snapped a three-week losing streak with its best weekly gain in more than 5 years.
Monday's opening saw the Dow up 208 points, as Federal Reserve Chairman Ben Bernanke said that yet another economic stimulus plan may be in...
Interview with James Chessen, Chief Economist for the American Bankers Association
It's a frantic, historic time for banking institutions of all sizes, with mergers, acquisitions, failures and federal investment.
In an exclusive interview, James Chessen, Chief Economist for the American Bankers Association,...
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