June 12, 1993 |
The Clinton Administration, resisting efforts by Republicans and others to maintain a profitable role for private banks in the government's student loan program, is launching a new offensive to win approval for direct government financing of all such aid by 1997.
September 29, 2008 |
The tentative agreement Sunday on a $700-billion financial system rescue package would provide a badly needed psychological boost on Wall Street but wouldn't be an immediate panacea for the economy or housing market, experts predicted.
March 18, 2012 |
If you want to do business with the biggest bank in the Western world, don't get on a plane to New York or London. The new place to go is sunny California. Wells Fargo & Co., with its headquarters in downtown San Francisco, has shot ahead of the East Coast institutions that have long been the behemoths of the financial industry, including JPMorgan Chase & Co. andCitigroup Inc. Although Wells Fargo still has fewer bank deposits than its closest competitor, its total stock market value is now about $178 billion - that's about $70 billion more than Citigroup and about $9 billion more than JPMorgan.
October 27, 1993 |
Federal thrift regulators on Tuesday banned former Lincoln Savings & Loan operator Charles H. Keating Jr. from the banking industry and ordered him to pay $36 million in restitution for two illegal dealings at the failed Irvine thrift. The action by the Office of Thrift Supervision ended three years of hearings and legal maneuverings involving Keating and other executives at Lincoln, which collapsed in April, 1989, and became one of the industry's costliest thrift failures.
February 11, 1991 |
The banking industry has prepared a plan to contribute $10 billion over the next two years to avoid a taxpayer bailout of the troubled fund that insures savings deposits, industry officials said Sunday. The plan, which will be presented to federal regulators on Tuesday, calls for banks to purchase a special issue of bonds from the Federal Deposit Insurance Corp.
January 7, 2008 |
Foreign banks trying to gain a foothold in booming Vietnam face a tough cultural barrier: Most people don't use banks, and many don't trust them. Instead, they stash their money at home and rely on informal lending networks of family and friends for loans. "Banks require too much paperwork, and the charges are too high," said Cao Thi Dong, 40, a housekeeper. "If I borrow from people I know, I can get a much better interest rate."
September 14, 2000 |
Geneva Group Inc., a broker for sales of small and mid-size companies, agreed Wednesday to be acquired by Citigroup Inc. for a reported $200 million in stock. Geneva, based in Irvine since its founding as a mergers-and-acquisition firm in 1977, will become a separately operated part of Citigroup's Salomon Smith Barney, a major provider of services for wealthy individuals.
August 29, 2013 |
This chart from the Federal Deposit Insurance Corp.'s latest report on the banking industry paints a picture worth more than a few thousand words about the recovery from the financial crisis. Outright bank failures peaked in 2009, when 140 banks collapsed, and 2010, when regulators closed 157. They then dropped sharply, with only 16 going under during the first half of this year. (Four more failed this month, bringing the total so far in 2013 to 20.) But damage from the crisis lingered much longer.
October 22, 2008 |
Imagine there was a law that said if you missed two credit card payments in a row, you had to pay the full balance immediately, with heavy penalties. And if you didn't, your bank would take out an ad in your local newspaper, calling you a deadbeat. Or worse, thugs in suits might show up at your office, haul you down to the bank and keep you there for hours until you signed a promise to pay. Welcome to the world of plastic -- Chinese style.
December 10, 2004 |
Wrapping up a modern-day Bonnie and Clyde case that stretched around the world, a woman accused of helping her boyfriend rob banks across the West was sentenced Thursday to 10 years in prison and ordered to repay more than $231,000. Nova Guthrie, 31, turned and smiled at her parents and other relatives after hearing her punishment. Her father, Ralph Guthrie, waved at her as she was led away.