March 14, 2012 |
More than three years after getting lifesaving injections of federal cash, the nation's major banks are generally healthy enough to withstand another economic shock. That's the assessment from the latest round of stress tests on the 19 biggest banks by the Federal Reserve. But there are still some signs the industry hasn't fully healed from Wall Street's huge meltdown. Four banking firms, including giant Citigroup Inc., failed one or more tests on whether they would survive a worst-case scenario.
September 26, 2008 |
As congressional leaders struggled to craft a bailout plan for the nation's troubled financial system Thursday, angry protesters mobbed Wall Street, telephones rang off the hook in House and Senate offices and a group of prominent economists sent off e-mail blasts critiquing the proposal. Numerous opinion polls taken this week came to wildly varying conclusions about the level of support among Americans for the Bush administration's $700-billion plan.
September 15, 1987 |
U.S. banks lost $10.6 billion during the second quarter of 1987 and are headed toward showing the smallest profit since the Great Depression, the Federal Deposit Insurance Corp. said today. The record loss came because banks set aside an unprecedented $21.2 billion to cover potential losses from loans made primarily to other nations. Officials said most of the fear over loan losses stems from Brazil, which has not paid any interest on its commercial debts since February.
November 10, 1993 |
A federal agency's complaints against former Anaheim banker Gerald J. Garner and others accuse them of an excessive amount of insider abuse, concealment of records and other wrongdoing that led federal regulators to close American Commerce National Bank last spring.
October 19, 1989 |
Unisys Corp. has entered the emerging market of digital image processing with two systems that will allow crisp images of checks and blueprints to be stored electronically. The company's Image Item Processing System will be available in the first quarter of 1990 for an average of $1.5 million to $3 million. Combined with the software Image Check Processing System, it will allow high-speed image processing of payment items for the banking industry.
November 5, 2008 |
When I heard last week that banks want to forgive up to 40% of some customers' credit card debt, my first question was, "What's the catch?" "There's no catch," answered Scott Talbott, chief lobbyist for the Financial Services Roundtable, an industry group that helped concoct the debt-relief program. "There's no hidden agenda. These are extraordinary times and the industry is aggressively working to help customers." He's half right.
February 20, 2010 |
The billionaires' club of private financiers who took over the remains of IndyMac Bank from the Federal Deposit Insurance Corp. turned a profit of $1.57 billion last year on the failed mortgage lender -- more than they invested less than a year ago. Yet under the sale agreement, the federal deposit insurance fund still could lose nearly $11 billion on bad loans that the Pasadena institution made before it was sold last March and renamed OneWest Bank....