Number of Troubled Banks Reach 18-Year High
The number of federally insured banks at risk of failing rose to 884 -- nearly 12% -- in the last quarter of 2010, reaching the highest level in 18 years.
banking
Peering Into the Peer-to-Peer Lending Boom
For those who can't get bank loans, the new business of peer-to-peer lending can be a lifesaver. Internet companies connect people who need cash with folks willing to lend -- for a fair profit, of course. Here's how it works, risks and all.
Citigroup Promotes John Havens to President and COO
Citigroup on Wednesday announced the promotion of John Havens, the head of its Institutional Clients Group, to president and chief operating officer. The move is designed to make the financial behemoth nimbler by cutting the number of executives who report directly to CEO Vikram Pandit.
S&P's New System May Lead to Mass Downgrades for Banks
Standard & Poor's is revamping its credit rating methodology for banks and financial institutions in a way that may cause about 40% of rated banks to get a downgrade, The Wall Street Journal reported Tuesday.
Bank of America to Restructure Bank Accounts, Fees
Bank of America plans to restructure customer bank accounts and fees to make up for lost revenue from new regulations.
Small Changes That Could Save You Big Bucks
It's hard to make huge changes in your spending habits all at once. To reach your new year's resolution to manage your finances better, try small steps instead. Financial experts offer 10 easy suggestions that could help you spend less and save more in 2011.
At Little Signature Bank, Back to Basics Is Paying Off Big
The pint-size Manhattan bank's market cap of $2 billion is dwarfed by JPMorgan's $161.5 billion and BofA's $126.4 billion. Still, Signature has done far better for investors this year. By steering clear of risky derivatives and sticking with basic banking, Signature is thriving.
Bailed-Out Banks Remain in Danger of Failing: 98 Banks at Risk
The number of government-aided U.S. banks in danger of failing has grown about 15% in the past six months, The Wall Street Journal has reported. The economy has continued to batter many struggling institutions, with 98 bailed-out banks -- up from 86 in the second quarter -- now at risk.
Expect More Banking Sector Takeovers in 2011
Two recent acquisitions by Canadian banks likely foretell that M&A activity among U.S. banks will only accelerate next year. Smaller banks that survived the financial crisis, but have few growth opportunities, are now attractive takeover targets.