financial services

Costco Moves into Mortgage Loans

There doesn't seem to be anything under the sun that Costco doesn't sell, including mortgage loans. The retailer's new online financial offering had been in testing mode for the past year, and it has worked so well that it has now been launched publicly.

Financial Industry Gets Social to Lure Young Money

At least $1 trillion will move from one generation to the next by 2025, and when assets change owners, advisers usually fall by the wayside. But certain parts of the financial services industry are finally adapting they way they communicate with these wealthy, younger potential clients.

The 25 Companies That Cut 700,000 Jobs

Since the recession began, more than 8 million Americans have lost their jobs. But perhaps even more surprising is the small number of companies that are responsible for laying off such a large percentage of today's unemployed workers.

Harley-Davidson Earnings Rise Over Threefold on Financial Services

Harley-Davison, Inc (HOG) said second-quarter earnings rose more than threefold on a strong performance from its financial-services unit. Earnings per share from continuing operations was 59 cents in the second quarter, compared with 14 cents in the second quarter of 2009, the company said in a statement. Net income from continuing operations rose to $139.3 million, from $33.4 million a year ago.

Derivatives Played "No Role" in Financial Crisis?

At the Financial Services Inquiry Commission hearing, former Wall Street derivatives executive Steven Kohlhagen claimed derivatives generally played "no role" in causing the financial crisis. This puzzling argument doesn't pass the straight-face test.

Lessons From Mint.com's Tax-Time Meltdown for Schwab Users

Popular online personal finance portal Mint.com has had problems for months getting account info for Schwab customers. As tax day approached, that annoyance became maddening, even though it wasn't all Mint's fault. Such is business on the Web today.

States Hate This Version of Financial Reform

At state securities regulators' annual public policy conference on Tuesday in Washington, they made no secret of their unhappiness with financial service reform legislation that Congress is considering. In fact, they're in open revolt.

Goldman CEO Gets $9 Million Bonus

Goldman Sachs Group (GS) CEO Lloyd Blankfein is getting a $9 million stock bonus for 2009, a modest payday by Wall Street standards that appears...

Is Nationwide on Your Side? Maybe Not

A class action law suit charges Nationwide with accepting "revenue sharing payments" from mutual funds as the cost of being included as investment options in its retirement plans.