With hundreds of bank failures over the past four years and the Problem Bank List at a 20 year high, it is sometimes easy to get the impression that all banks were engaged in reckless lending during the real estate bubble years. While virtually all of the “Too Big To Fail Banks” engaged in highly […]
Not All Banks Made Poor Lending Decisions During The Bubble Years – 5 Banks Worth Buying
February 27, 2012 By Leave a Comment
Banks Tell 30 Million Troubled Customers To Get Lost – One In Three Consumers Now “Unbanked”
February 24, 2012 By Leave a Comment
How does the average consumer get by without a basic checking account? How does someone without a checking account pay the bills that arrive each month – drive around to each creditor and pay in cash? Where do you keep your savings – under the mattress or buried in the back yard? As incredible as […]
FDIC Issues 57 Enforcement Actions Against Problem Banks In December
January 27, 2012 By Leave a Comment
The FDIC issued 57 enforcement actions against banks in December 2011, down from 72 in November. The December enforcement actions included 9 consent orders, 19 civil money penalties, 4 prompt corrective actions, 3 voluntary terminations of insurance, 12 removal and prohibition orders and 10 orders terminating previous consent orders and cease and desist orders. A […]
Major Mortgage Lender Calls It Quits – Mortgages Become A Losing Proposition For Banks
January 13, 2012 By Leave a Comment
While the Federal Reserve and other government agencies urge banks to lower credit standards and increase lending, one major mortgage lender is calling it quits due to onerous regulatory burdens that increase lending risks and reduce profits. MetLife, the country’s largest insurance company, is closing its $20 billion mortgage operations and firing 4,300 employees. The […]
Banking Update – Daily Banking News
December 23, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. The Fed’s low interest rate policy has killed savers but is it also killing the economy? Also, the U.S. is heading for another credit downgrade, what capital levels do banks real need and housing prices drop again. On to the links. […]
Banking Update – Daily Banking News
December 19, 2011 By Leave a Comment
Welcome to Banking Update, a roundup of articles and news from around the Internet. Let’s go right to the links. Runs on the bank are intensifying in Europe – fragile confidence in the banking system is being shattered. Banking holidays and capital controls may be necessary which would fuel the panic further. Chinese homeowners go […]
Why Are We Having Nonstop Financial Crises?
November 8, 2011 By 1 Comment
Issuing a sell opinion on a bank stock is usually a short route to oblivion for a banking analyst. Mike Mayo is one banking analyst who did issue sell opinions on banks yet managed to survive. In his new book, “Exile on Wall Street”, banking analyst Mike Mayo provides an insider’s view on why the […]