Keyword: finance

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  • Homeowners ain't mortgagin' as much

    09/14/2018 8:12:30 AM PDT · by Tell It Right · 22 replies
    MarketWatch ^ | 9/14/2018 | Andrea Requier
    American homeowners have amassed a record $6 trillion in equity in their properties, a figure boosted by surging home prices and a trend of owners staying put longer. But rising interest rates and caution resulting from the housing troubles of a decade ago are limiting how much of that equity is getting tapped.
  • Why Does Wells Fargo Still Exist? (The bank isn't just "too big to fail." It's too big to fix.)

    08/25/2018 2:17:54 PM PDT · by Ultra Sonic 007 · 42 replies
    The Huffington Post ^ | 8/25/2018 | Zach Carter
    Wells Fargo executives know that everyone hates them. In the last two years, the bank has launched three separate marketing campaigns hoping to clean up its public image, only to see each effort thwarted by fresh, catastrophic scandals ― like wrongly repossessing 27,000 cars and foreclosing on 400 families for no reason. The bank’s latest quarterly filing with the Securities and Exchange Commission dedicates more than 2,000 words to “Additional Efforts To Rebuild Trust,” listing “automobile lending,” “mortgage interest rate lock extensions,” “consumer deposit account freezing/closing,” “certain activities within wealth and investment management,” “foreign exchange business,” “fiduciary and custody account...
  • Here's how much you really earn as an MD (Managing Director) at Credit Suisse and UBS in London

    08/08/2018 9:12:34 PM PDT · by 2ndDivisionVet · 3 replies
    eFinancial Careers ^ | August 7, 2018 | Sarah Butcher
    Do you really earn less working for a European than for a U.S. bank in London? Popular opinion would have it that you do. But popular opinion may be wrong: our analysis suggests that if the European investment bank you work for is either Credit Suisse or UBS, you'll be paid on a par with people at U.S. houses. - Or at least, this appears to have been the case for last year. Both UBS and Credit Suisse issued UK specific remuneration reports for 2017. They're not new, but they are buried on the Swiss banks' websites and we've only...
  • Facebook to Banks: Give Us Your Data, Well Give You Our Users

    08/06/2018 9:28:09 AM PDT · by bitt · 53 replies
    WSJ ^ | 8/6/2018 | Emily Glazer, Deepa Seetharaman and AnnaMaria Andriotis
    The social media giant has asked large U.S. banks to share detailed financial information about their customers, including card transactions and checking account balances, as part of an effort to offer new services to users. Facebook increasingly wants to be a platform where people buy and sell goods and services, besides connecting with friends. The company over the past year asked JPMorgan Chase JPM +0.25% & Co., Wells Fargo & Co., Citigroup Inc. C +0.20% and U.S. Bancorp USB +0.40% to discuss potential offerings it could host for bank customers on Facebook Messenger, said people familiar with the matter. Facebook...
  • Deutsche Bank is hiring 25% more new analysts this year (800+ jobs)

    07/23/2018 5:30:40 PM PDT · by 2ndDivisionVet
    Business Insider ^ | July 23, 2018 | Dakin Campbell
    Deutsche Bank is hiring nearly 800 new university graduates globally in 2018, its second highest number ever and 25% more than last year. The German lender is bringing more analysts in corporate finance than in sales and trading. The hiring comes as Deutsche surprised investors last week with a higher-than-expected profit for the second quarter under new CEO Christian Sewing....
  • Recep Erdogan appoints his son-in-law to run the country's economy and finances

    07/09/2018 4:37:15 PM PDT · by Texas Fossil · 7 replies
    Financial Review ^ | Jul 10 2018 at 7:54 AM Updated 1 hr ago | AAP
    Turkish President Recep Tayyip Erdogan named the members of his new Cabinet after he was sworn in Monday (Tuesday AEST) under a new governing system that grants him sweeping executive powers and which critics think gives him far too much control.Erdogan appointed Berat Albayrak, the man who married his daughter 14 years ago, to head the powerful new treasury and finance ministry. Mevlut Cavusoglu will remain as Turkey's foreign minister and Suleyman Soylu as the country's interior minister.The executive system of government that began with Erdogan's swearing-in scraps Turkey's parliamentary governance structure and boosts the powers of the formerly ceremonial...
  • American money flowing back into America [Record $300 billion First Quarter]

    06/26/2018 6:28:46 AM PDT · by GonzoII · 14 replies
    Fox Business ^ | June 26, 2018 | Suzanne O'Halloran
    Despite President Trump's tit-for-tat trade barbs, Americas CEOs are not wasting anytime in taking advantage of his tax reform plan. Over $300 billion was repatriated to the U.S. in the first quarter, according to the Bureau of Economic Analysis (BEA) -- the most on record. U.S. firms that used to build their factories overseas in order to avoid U.S. taxes, they stopped in their tracks because of the tax bill, they are bringing all the money home, said Kevin Hassett, chair of the president's Council of Economic Advisers, during an interview on FOX Business Varney & Co. in June.
  • Democrats seek to restrict gun rights by targeting financial institutions

    06/13/2018 2:13:31 PM PDT · by richardb72 · 29 replies
    The Hill ^ | June 13, 2018 | John R Lott Jr
    If liberals cant silence self-defense advocates or pass the gun control laws that they want, they will keep you from using your credit cards to buy guns or accessories. They also will prevent firearm makers from getting financing. At first this was a matter of government policy, but now it is coming about by political pressure on private companies. In 2013, the Obama administration initiated Operation Choke Point, which utilized the banking industry to choke off the ability of certain fraudulent businesses in high-risk sectors to operate by cutting off their access to financial services. Many in the gun industry...
  • Credit service shuts down payments on all gun purchases (Intuit)

    06/12/2018 5:28:27 AM PDT · by akalinin · 56 replies
    New York Post ^ | 06/11/2018 | Lois Weiss
    Several gun-related businesses were suddenly and without warning disrupted in recent weeks when Intuit stopped processing credit card payments because sales were gun-related, The Post has learned.
  • Trump calls for probe into claims Obama administration tried to give Iran access to US banks

    06/07/2018 1:22:50 PM PDT · by Innovative · 22 replies
    Fox News ^ | June 7, 2018 | Adam Shaw
    President Trump on Thursday called for an investigation into allegations that the Obama administration tried to give Iran access to the U.S. financial system by sidestepping sanctions. "The Obama Administration is now accused of trying to give Iran secret access to the financial system of the United States. This is totally illegal," Trump tweeted.
  • Obama Secretly Tried to Get Banks to Aid Iran, Banks Refused

    06/06/2018 11:51:45 AM PDT · by detective · 30 replies
    Front Page ^ | June 6, 2018 | Daniel Greenfield
    International financial institutions get a lot of heat for terror state ties. But this is a case where Obama Inc. tried to get them to do the wrong thing. While they did the right thing. The Obama administration secretly sought to give Iran access albeit briefly to the U.S. financial system by sidestepping sanctions kept in place after the 2015 nuclear deal, despite repeatedly telling Congress and the public it had no plans to do so. Yet another Obama dirty deal with Iran that we're just learning about now. The question is how many more are there? And...
  • The Financial Guys (Where Money Meets Politics) Listen Live Sat. 1 PM EST - Talk Radio

    06/02/2018 10:03:45 AM PDT · by yesthatjallen · 1 replies
    WBEN Radio ^ | 06 02 2018 | yesthatjallen
    For those of you who like talk radio. The Financial Guys is a talk radio program in western New York. Sat. 1 - 3 pm est. Financial Guys Twitter Financial Guys Talk Radio Link
  • Fed moves ahead on easing post-crisis 'Volcker Rule'....

    05/30/2018 7:33:22 PM PDT · by caww · 2 replies
    washingtonexaminer ^ | 5/30/2018 | by James Langford
    The Federal Reserve voted Wednesday to seek input on a proposal to simplify the Volcker Rule, a provision of the post-financial crisis reform law that blocked banks from trading on their own accounts. The proposed alterations would tailor compliance based on the size of a firm's trading assets, benefiting smaller institutions; clarify that firms trading within internal risk limits are conducting permissible market-making or underwriting activity; and limit the rule's impact on foreign activities of foreign banks. The Fed will accept comments for the next two months, a key step toward final adoption and implementation of the changes drafted by...
  • Nickels, Dimes and Family Size

    05/16/2018 2:05:50 PM PDT · by Coleus · 38 replies
    the diocese of scranton ^ | 02.23012 | Fr. Tadeusz Pacholczyk, Ph.D.
    A few years ago, I spoke with a young man preparing to get married. His aunt told him that she thought he and his fiance were too financially-strapped to have a child, and that it wouldnt be fair to bring up a baby in poverty. Keenly aware of his joblessness and his minuscule bank account, he concluded she was probably right.The young man and his fiance were ready to tie the knot in a few months and they expected that she would be at the infertile phase of her cycle around the time of their honeymoon, so they would...
  • The Bitcoin Bunker Holding Billions

    05/14/2018 8:33:40 AM PDT · by bananaman22 · 36 replies
    Safehaven.com ^ | 05-14-2018 | Michael
    Just because its digital doesnt mean it doesnt need a vault, and Silicon Valley millionaires and billionaires now have a way to keep their cryptocurrency safe from the criminals: Underground bunkers packed with encrypted computer servers storing cryptographic keys for billions in bitcoin. This is cold storage, with a major security twist. Its a new kind of vault for a new age and one Argentine pioneer has finally convinced the wealthy that this is where their digital currency will be safe. The brainchild of entrepreneur Wences Casares, a startup called Xapo has built crypto bunkers on five continentsincluding one in...
  • 1,000+ jobs coming to Nashville with AllianceBernstein

    05/03/2018 4:16:27 PM PDT · by 2ndDivisionVet · 17 replies
    WKRN-TV ^ | May 2, 2018 | Staff
    Governor Bill Haslam announced today that the global asset management firm AllianceBernstein will relocate its headquarters to Nashville. They are currently based in New York. With its relocation, AllianceBernstein will bring 1,050 high-quality jobs to Middle Tennessee and invest more than $70 million to establish the headquarters. Tennessee is home to many world-renowned brands and were extremely proud to welcome AllianceBernstein, a global financial leader, to Nashville, Haslam said. Tennessees pro-growth policies continue to attract international companies to our state, providing fantastic job opportunities for our citizens. AllianceBernsteins decision to bring 1,050 corporate office jobs to Nashville is an incredible...
  • Inflation Is Here, Get Used To It

    04/25/2018 9:44:57 AM PDT · by blam · 54 replies
    I stopped to grab a burger in Marin County today and was kind of shocked to see the following posted on the front door. That is a pretty steep starting wage for nonskilled labor, and $5.00 more than the California minimum wage. In-N-Out does pay their employees well. The private burger chain pays store managers an average yearly salary of more than $160,000 with no college degree or previous management experience required. Facebook engineers soon to be flipping burgers. Nonbinding It is clear the minimum wage in California is nonbinding that is irrelevant and all the bluster about...
  • Wells Fargo Pays $1 Billion to Federal Regulators

    04/20/2018 9:18:30 PM PDT · by catnipman · 71 replies
    NYslimes ^ | 4/20/2018 | MATTHEW GOLDSTEIN
    Wells Fargo will pay two federal regulators a total of $1 billion to settle an array of investigations into its mortgage and auto-lending practices. Customers were forced to pay for extending the length of so-called interest rate locks on mortgage applications even when the bank was responsible for delays in the application process. Thousands of customers who bought cars with loans from Wells Fargo were forced to buy unnecessary insurance policies from the bank with premiums that topped a $1,000 a year. The bank said the policies could have contributed to about 27,000 customers having their cars repossessed after defaulting...
  • Wells Fargo Stems the Tide: Not a Banks Job to Set U.S. Gun Policy

    04/16/2018 4:41:47 AM PDT · by servo1969 · 25 replies
    Breitbart ^ | 4-15-2018 | AWR HAWKINS
    Wells Fargo stemmed the tide of the push for new financial restrictions on gun makers and sellers by stressing that it is not a banks job to set U.S. gun policy. Wells Fargo believes firearm policy is a debate for Congress instead. According to Reuters, Wells Fargo CEO John Shrewsberry said, The best way to make progress on these issues is through the political and legislative process. In the meantime, Wells Fargo is engaging our customers that legally manufacture firearms and other stakeholders on what we can do together to promote better gun safety in our communities. Wells Fargos refusal...
  • GOP Congressmen Target Citibanks $700 Billion Contract Over Anti-Second Amendment Policies

    04/14/2018 1:14:37 AM PDT · by LibWhacker · 22 replies
    Daily Caller ^ | 4/12/18 | Peter Hasson
    Sixteen Republican congressmen are asking the General Services Administration (GSA) to reevaluate a $700 billion contract with Citibank as a result of thethe financial institutions anti-Second Amendment policies.The congressmen, led by Indiana Rep. Todd Rokita, sent a letter to GSA Administrator Emily Murphy on Wednesday, asking her to terminate the contract in response to Citibanks Marchannouncementrestricting its clients participation in gun sales.In 2017, the General Services Administration (GSA) awarded Citibank a contract of more than $700 billion to partially implement the federal charge card program, SmartPay 3,the congressmen wrote in the letter, a copy of which was obtained by The...