August 28, 2013 |
Open Road Films, the distribution company that released this summer's "Jobs," has extended its $100-million revolving credit facility through 2018. The company, which was founded in 2011 by exhibitors AMC Entertainment and Regal Entertainment Group, said the new credit facility would allow it to reduce borrowing costs. Lenders Bank of America, Union Bank, OneWest Bank and Wells Fargo all renewed their commitments with the Los Angeles-based film company. PHOTOS: Hollywood Backlot moments "In two years, Open Road has exceeded expectations, and we are proud to have done this with the backing of Bank of America, Union Bank, OneWest Bank and Wells Fargo," Tom Ortenberg, chief executive of Open Road, said in a statement.
August 28, 2013 |
In the annals of image problems, the banking industry ranks right up there .... er, down there ... in the company of Congress, with a high-profile survey ranking Bank of America Corp. at the bottom of the heap. Five years after the financial crisis, the Reputation Institute survey said banking has a worse reputation than Big Pharma, news outlets, oil companies and telecommunications firms -- though not so bad as Congress. The most highly regarded industries were transport, consumer products, industrial products, food manufacturing and computers.
February 15, 2013 |
Cable companies love to offer combo deals on telephone, Internet and a slew of TV channels you'll never watch. Product bundling also is standard in industries as varied as fast food, cars and software. It's the same with banks, most of which won't sell you a simple checking account except in a fixed-price package with add-ons such as debit cards, mobile apps, online bill payment or savings accounts. Now, in an effort to distinguish itself from the pack, Union Bank is offering customers an a la carte menu - the banking equivalent of breaking up the value meal and promoting burgers, fries and drinks separately.
October 19, 2012 |
LONDON - European leaders took a step forward Friday in their effort to put all of the Eurozone's banks under central oversight but sketched out a time frame that suggests the new system will not be up and running until months after its anticipated start date. An agreement in June to appoint a single banking supervisor for the 17 nations that use the euro was hailed as a major weapon in the fight against the region's persistent debt crisis. Stronger oversight would pave the way for ailing banks to receive help directly from Europe's bailout fund, without governments having to step in with aid that then worsened their own budget problems.
March 11, 2012 |
Payday loans, for years a fixture in poor, working-class neighborhoods, are increasingly being offered by local banks and employee credit unions — triggering concerns by consumer groups that more Americans will be trapped in high-interest loans that could take years to pay off. More than two dozen regional and community banks now offer versions of these loans, most starting their programs since 2007. The biggest increase, however, has come at credit unions. Nearly 400 now are in the market, attracted by a 2010 change in regulations that boosted the maximum interest rate on payday loans to 28% from 18%. Conventional payday loans from storefront operations provide workers a two-week advance of as much as $500 on their paychecks for a flat fee or an interest rate that doesn't sound too extreme on the surface.
May 3, 2010 |
Like them or not, banks can be hard to leave. Who wants to transfer accounts, get used to new branch locations or master a different online banking system? But consumers increasingly are willing to unglue themselves from what bankers call "sticky" relationships, according to a retail bank survey released by J.D. Power and Associates Inc. last week. It found a growing belief that banks are driven only by short-term profit goals, and that they often overlook basic services such as keeping branches clean and explaining fees to customers.