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Banking News

Banking news continually updated from thousands of sources around the net.

7 hrs ago | SFGate

The CEO Of Visa And The CFO Of Kraft Are Joining Microsoft's Board

The new board members are Teri List-Stoll, executive VP and CFO of Kraft Foods Group, and Charles W. Scharf, CEO of Visa. They'll be replacing Dave Marquardt and Dina Dublon, who will retire from the board after the annual shareholder meeting in December.

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Related Topix: JP Morgan Chase , Business News

11 hrs ago | National Mortgage News

Virginia Sues 13 Banks for $1.15B Alleging RMBS Fraud

Citigroup Inc., Morgan Stanley and Goldman Sachs Group Inc. are among 13 banks whose units were sued for $1.15 billion by the state of Virginia, over claims they misled its retirement system about the sale of residential mortgage-backed securities. The suit in state court in Richmond is the largest financial fraud case ever brought by the commonwealth, Virginia Attorney General Mark Herring said in a statement today.

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Related Topix: Financial Services, Citigroup, Goldman Sachs, Stanley, Investment Services, Investment Banking, Morgan Stanley European Fund, Morgan Stanley

15 hrs ago | Channelnewsasia.com

ICBC Singapore issues largest RMB bond issuance

Worth 4 billion yuan , the bonds will be issued and priced in three tranches, and cleared through the Central Depository in Singapore. SINGAPORE: Industrial and Commercial Bank of China Singapore Branch issued 4 billion yuan worth of offshore yuan bonds in Singapore on Tuesday .

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Related Topix: Financial Markets, Independence Community Bank, Financial Services

17 hrs ago | Silicon Alley Insider

Bank Of America Forgoes $6 Billion With Slimmer Consumer Strategy

The company had previously earned about $3 billion a year in punitive fees such as overdraft charges on debit-card purchases and about $3 billion a year through the sale of identity theft, payment protection and other "add-on" products, Thong Nguyen, head of Bank of America's mass-market retail bank, told an investor conference in Boston. The bank ended the practice of charging consumers debit card overdraft fees in 2010 and had stopped marketing add-on products by 2012.

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Related Topix: Bank of America, Financial Services, Marketing

20 hrs ago | Fort Francis Times

Women are more conservative investors than men and want safer investments:study

It seems that it can still be a man's world when it comes to investing. A new survey says 83 per cent of Canadians believe that investing has traditionally been viewed as a role for men, and 48 per cent contend that women are intimidated by investing.

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Related Topix: Financial Services, Bank of Montreal

Yesterday | Brandon Sun

Slyce buys Israeli developer of Pounce app for up to US$5M in cash and stock

Slyce Inc. is acquiring Israel-based BuyCode Inc., developer of the Pounce mobile payment app, for up to US$5 million in shares, cash and earn-out incentives. Toronto-based Slyce says the Pounce app, available both directly to consumers and as a private label solution to retailers, is expected to bolster a suite of mobile shopping services Slyce already provides its retail customers while also saving it significant development time and investment.

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Related Topix: HSBC Holding

Yesterday | West Australian

$A rises on interest rate speculation

At 1200 AEST on Tuesday, the local currency was trading at 90.45 US cents, up from 90.00 cents on Monday. The Aussie rose to an intraday high of 90.54 shortly after the Reserve Bank of Australia released minutes of its September board meeting.

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Related Topix: Reserve Bank of Australia, Financial Services, Housing

Mon Sep 15, 2014

Cybercast News Service

DOJ extremism fight could take cue from Minnesota

File-This March 23, 2008, file photo provided by the Hennepin County, Minn. Sheriff's Office shows Douglas McAuthur McCain.

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Related Topix: US Bancorp, Financial Services, Terrorism

JD Supra

Federal Court Finds No Willful Violation for Misclassification of Mortgage Loan Officers

A federal court in Oklahoma delivered another blow to claims by mortgage loan officers that they are entitled to overtime under the Fair Labor Standards Act . In Chapman v.

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Related Topix: Home, Mortgage, Personal Finance, Law, Employment / Labor Law, Financial Services, BOK Financial

Farmington Daily Times

Column: Will The Swiss Vote to Get Their Gold Back?

On November 30th, voters in Switzerland will head to the polls to vote in a referendum on gold. On the ballot is a measure to prohibit the Swiss National Bank from further gold sales, to repatriate Swiss-owned gold to Switzerland, and to mandate that gold make up at least 20 percent of the bank's assets.

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Related Topix: Swiss National Bank, Financial Services, Opinion

SFGate

Wells Fargo Bank settles with tellers over sex-harassment claims

File - JULY 11: Wells Fargo reported profits rose 4% from the same period last year, however the results were slightly lower than expected and the stock was down on early trading. - OAKLAND, CA - JULY 19: A sign is posted in front of a Wells Fargo Bank branch on July 19, 2011 in Oakland, California.

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Related Topix: Wells Fargo , Financial Services, Oakland, CA, San Francisco County, CA, San Francisco, CA

Business Journal

San Francisco luxury homes hit record price tag of $3.3 million

Katherine August-deWilde, president of San Francisco-based First Republic Bank, says several factors contributed to the Bay Area's luxury homes hitting a record price in the second quarter. The average luxury home in the San Francisco Bay Area reached an all-time high of $3.3 million, according to First Republic Bank's Prestige Home Index.

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Related Topix: San Francisco County, CA, San Francisco, CA, Publishing, Media, Financial Services, New Republic, First Republic Bank

Business Journal

First Citizens looking to Central Ohio amid M&A push

The Sandusky-based parent of Citizens Banking Co., which operates branch offices in Dublin and Plain City, showed a desire to expand its footprint with a $17.2 million agreement to purchase Dayton-based TCNB Financial Corp. "Everybody wants to be ," Dutton told me. "If you get into a bidding situation, there's always somebody willing to pay more.

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Related Topix: First Citizens Banc, Financial Services, Ohio, Sandusky, OH, Dublin, OH, Plain City, OH, Franklin County, OH

Business Journal

EXCLUSIVE: Cincinnati employers expected to add thousands of jobs, PNC economist says

Greater Cincinnati employers are going to keep adding workers next year, to the tune of about 15,000 more jobs. That's the prediction of Stu Hoffman .

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Related Topix: Financial Services, Pnc Financial Services GroupThe

Brandon Sun

New Cibc Ceo announces reorganization of bank's senior executives

Major changes are afoot in the executive ranks of the Canadian Imperial Bank of Commerce , as incoming chief executive Victor Dodig shuffles a number of leadership roles and announced the exit of one key executive. Dodig, who began his job as head of the bank on Monday, says chief operating officer Richard Nesbitt is leaving CIBC immediately, accelerating his initial plan to retire in October 2015.

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Related Topix: Financial Services, Canadian Imperial Bank of Commerce, Retail, Coles Myer, Grocery

Business Journal

Popular Community Bank completes sale of C. Fla. operations

Popular Community Bank, the U.S. banking subsidiary of Popular Inc. , completed the previously announced sale of its Central Florida regional operations to Harbor Community Bank , a wholly owned subsidiary of HCBF Holding Co. Inc. As part of the transaction, Popular Community Bank sold its nine branches in the Central Florida area, including $104 million in loans and $217 million in deposits, each as of Aug. 31. The transaction is expected to result in a net premium of about $1 million before customary transaction-related costs.

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Related Topix: Financial Services, Popular

Business Journal

Kelley Blue Book taps SunTrust's LightStream

The LightStream AnythingLoan will give KBB.com site visitors online financing for cars, trucks and motorcycles anywhere in the United States. Qualified consumers can borrow between $5,000 and $100,000 at terms of their choosing and at competitive fixed rates, starting as low as 1.99 percent APR.

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Related Topix: Financial Services, Suntrust Banks, Kelley Blue Book, Publishing, Media

Seattle Post-Intelligencer

Eurozone economic growth forecast cut

German Finance Minister Wolfgang Schauble speaks during a news conference in Milan, Italy, Saturday, Sept. 13, 2014.

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Related Topix: Italy, Financial Services, European Central Bank

Business Journal

M&T-Hudson City deal won't be deterred by CEO's death

The sudden death last week of Hudson City Bancorp Inc.'s top executive and the subsequent naming of new leader is not expected to affect the company's plans to be acquired by M&T Bank . In a statement issued Sept.

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Related Topix: Financial Services, Hudson City Bancorp, MT Bank

Seeking Alpha

Bank Of America: A World Without Countrywide

Anyone who reads my articles knows I've been pounding the table to buy Bank of America for a long time now. I have maintained that BAC's issues are transitory - although they have been a little less transitory than I'd hoped - and that we'd eventually see the company earning billions upon billions and a higher stock price.

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Related Topix: Bank of America, Financial Services

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