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Young People Pessimistic About Financial Futures
These days, 20-somethings aren't just the young and the restless -- they're the young and the anxious. According to The PNC Financial Services Group's Financial Independence Survey, that demographic is full of financial fears.
Goodbye, Free Checking; Hello, New Bank Fees
The era of free checking accounts is coming to an end. Many consumers will face an extra $144 a year in account fees, plus higher dues for their debit cars, and increased ATM charges, too. It's all part of a banking industry backlash against last year's consumer friendly financial reforms.
ATM Fees Rise as Banks Feel Funding Squeeze
Think before you swipe. Fees at some ATMs are hitting $5 as banks seek to re-coup lost revenue over debit cards and overdraft charges due to federal regulatory changes.
A Big Week Ahead for the Banking Sector
Fourth-quarter 2010 earnings season ramps up this week. Analysts expect strong results from some big corporate names. And on the heels of last week's big earnings beat from JPMorgan Chase, the financial sector will have plenty more results to peruse this week.
BlackRock Shares Slide on News of Secondary Offering
BlackRock's stock price fell sharply on Wednesday morning after the global investment management firm confirmed that Bank of America and PNC Financial Services would sell 42 million of its shares in a secondary offering.
Robo-Signing: California Dems Call for Federal Probe
The state's House Democratic delegation has asked the Justice Department, the Fed and Controller of the Currency to investigate the widespread -- and growing -- problem of faulty bank documents in foreclosure cases. One agency is taking action.
Would Rating Downgrades Clip Bank Profits?
Moody's is reviewing 10 large regional banks for possible downgrades because it thinks financial reform means total government support is now less likely. That's setting off a debate about whether those banks will actually take a hit to profitability.
