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Banking News

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

15 min ago | Reuters

Wells Fargo finds mortgage myths hamper home purchases

Getting a mortgage in the United States may be easier than many borrowers think, according to a survey released Monday by Wells Fargo & Co ( Nearly two-thirds of respondents thought that a very good credit score was necessary to buy a home, and more than 40 percent thought they needed a down payment equal to at least 20 percent of the purchase price to buy a home. Under government-backed programs, first-time home buyers with subprime credit scores can get a mortgage insured by the Federal Housing Administration, and they can put down as little as 3.5 percent of the purchase price.

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Related Topix: Home, Mortgage, Personal Finance, Wells Fargo , Financial Services, Home Buying

1 hr ago | Wall Street Journal

Santander's Botin Pledges to Continue Father's Work

SANTANDER, Spain-In Ana Patricia BotA n first official appearance as chairwoman of Banco Santander SA she vowed to build on the work of her father, the bank's former chairman who died last week. Ms. BotA n said that her father, Emilio BotA n, worked for almost 30 years as Santander's chairman to transform it into the "No.

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Related Topix: Spain, World News, Banco Santander Central Hispano SA

3 hrs ago | Journalgazette.net

Hiring in state rises with national trend

Angie Dvorak is assistant vice president of public relations for 1st Source Corp. of South Bend. She said the financial services company has provided across-the-board instruction to many of its 1,200 employees.

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Related Topix: 1st Source, Financial Services, Old National Bancorp

Sun Sep 14, 2014

Sydney Morning Herald

Markets Live: Aussie on the brink

Shares slump early as poor Chinese data shakes investor confidence and threatens to push the local dollar below 90 US cents ahead of the US Fed meeting this week. The J ames Hardie Industries asbestos compensation fund is headed for a funding shortfall and is seeking approval from the NSW Supreme Court to pay some victims in instalments rather than lump sums.

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Related Topix: Financial Services, Macquarie Bank

NEWS.com.au

Stocks to watch on Monday

Fatfish, an Australian-listed company that invests in internet ventures, has brought a stake in Malaysian-based mobile games provider, AppXplore Sdn Bhd.

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Related Topix: Financial Services, National Australia Bank

The Times-Tribune

Troopers who died in the line of duty

Twenty other troopers with ties to Northeast Pennsylvania have died in the line of duty since 1909, according to the Pennsylvania State Trooper Association's In Memoriam page. We welcome user discussion on our site, under the following guidelines: To comment you must first create a profile and sign-in with a verified DISQUS account or social network ID.

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Related Topix: Financial Services, Northeast Pennsylvania Financial, Trooper, PA

Canada.com

Closing Bell: TSX lacklustre ahead of Fed meeting, U.K. referendum

The Toronto stock market closed little changed Friday with traders in a risk-averse mood going into the weekend ahead of next week's U.S. Federal Reserve meeting on interest rates and a referendum that will decide whether Scotland leaves the United Kingdom. Hudson's Bay Co.

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Related Topix: HSBC Holding

Silicon Alley Insider

World Waits For White Smoke From U.S. Fed

The U.S. Federal Reserve may give clearer hints on when it will hike the cost of borrowing in the United States in the coming week, as struggling Europe braces for a tight vote in Scotland on whether to leave the United Kingdom. As the U.S. economy picks up pace, its central bank is inching closer to raising interest rates, a move that will send ripples across the globe.

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Related Topix: Europe, World News, United Kingdom, Financial Services, European Central Bank

St. Petersburg Times

Calgary mayor says snowfall cleanup could take weeks

Farmers were assessing the damage to their crops while the cleanup of fallen trees and downed power lines was continuing through the weekend. The heavy, wet snow brought down trees and limbs that were still full of leaves and unable to hold the additional weight.

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Related Topix: Bank of Montreal, Financial Services, Home, Mortgage, Personal Finance, Home Buying, North America, Canada, World News

Sat Sep 13, 2014

Iol.co.za

HSBC Holdings and US reach settlement

London-based lender HSBC Holdings became the latest financial firm to settle claims by the US government over the sale of mortgage-backed securities that led to the 2008 financial crisis. The Federal Housing Finance Agency said the US unit of HSBC would pay 550 million dollars to resolve claims that it had violated securities laws when it sold the securities.

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Related Topix: HSBC Holdings, Financial Services, Home, Mortgage, Personal Finance

SFGate

What you didn't know about cost of college

With the fall semester of colleges across the country officially in swing, much has been made about ballooning student debt, rising costs, and the questionable job prospects for recent graduates. The remarkable benefits In a series exploring the debate surrounding a college education, the Federal Reserve Bank of New York provided a fascinating post that examines the true value of a higher-education degree.

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Related Topix: Financial Services, Federal Reserve Bank of New York, Bank of New York

Business Journal

Wells Fargo looks to turn off running faucet of unused space

Large corporations such as Bank of America Corp. and Wells Fargo & Co. are working to reduce the size of their real estate portfolios and do a better job of making use of the space they have, according to a panel of real estate executives who spoke at a CoreNet Global event yesterday at Carmel Country Club.

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Related Topix: Financial Services, Wells Fargo , Bank of America

Iol.co.za

JPMorgan hackers accessed servers

Hackers accessed dozens of servers at JPMorgan Chase & Co in a cyberattack launched in June, though no money was taken, the New York Times reported on Friday, citing people familiar with the investigation into the case. "We are confident we have closed any known access points and prevented any future access in the same way," the paper quoted JPMorgan spokeswoman Kristin Lemkau as saying.

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Related Topix: JP Morgan Chase

Crain's New York Business

Hudson City CEO Ronald Hermance dies

Mr. Hermance worked at Hudson City for 26 years and became CEO in 2002. The bank was known for maintaining strict lending standards in writing mortgages to New Jersey homeowners, a policy that helped it steer through the financial crisis undamaged.

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Related Topix: Financial Services, Hudson City Bancorp, Home, Mortgage, Personal Finance, James Stewart, Pop/Rock

Fri Sep 12, 2014

Silicon Alley Insider

Apple Went To Insane Lengths To Keep Apple Pay A Secret

Apple is no stranger to secrecy. The company works hard to keep its software and hardware plans under heavy wraps until they're announced to the world.

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Related Topix: JP Morgan Chase , Visa

Business Journal

Wells Fargo economist: 3 best years of the decade ahead of us

Mark Vitner of Wells Fargo Securities gave his best prediction on when the current business cycle will end: some time between Nov. 2016 and May 2019. The economic recovery hasn't been too wonderfully exciting but even it has had some bright spots to it, says Wells Fargo Securities economist Mark Vitner .

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Related Topix: Financial Services, Wells Fargo

Brandon Sun

Most actively traded companies on the TSX

B2Gold Corp. . Miner. Down two cents, or 0.85 per cent, to $2.34 on 7.6 million shares.

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Related Topix: HSBC Holding, Insurance, Manulife Financial

The Washington Post

Carbon Volatility to Jump on EU Overhaul Talks: Carbon & Climate

Citigroup Inc., Societe Generale SA and Commerzbank AG say prices will start swinging again after European lawmakers resumed talks this week on setting up a reserve to reduce a permit glut that drove the market to a record low. Sixty-day volatility for carbon futures surged by a quarter in April 2013 after politicians threatened to block a rescue plan designed to support prices.

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Related Topix: Financial Services, Citigroup, Basf Ag, Chemicals, Business News

Brandon Sun

TSX to open positive: traders look to Hudson's Bay loss, U.S. retail data

The Toronto stock market looked to open slightly higher as traders digest the latest data on U.S. retail sales and consumer sentiment. Overseas developments also caught traders' focus as the European Union levied another round of sanctions on Russia for its involvement in Ukraine fighting.

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Related Topix: Canada, HSBC Holding

Reuters

JPMorgan says no cyber attack-related customer fraud seen

JPMorgan Chase & Co said it had not seen any unusual customer fraud related to a recent cyber attack on the bank. Chase customers will not be liable for unauthorized transactions on their account provided they promptly alerted the bank, it said in a filing.

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Related Topix: Science / Technology, Computer Security, JP Morgan Chase

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