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Wells Fargo is a multiple offender. Therefore, it came as no surprise to anyone that they lost their court challenge against having to pay a fine for excessive overdraft fees they imposed on their customers. A California judge determined that they have to pay back $203 million in what the judge determined was a tricky [...]
Many states are trying to work their way out of what’s been deemed a housing industry crisis. To say that things have been bad across the country would be an understatement. In 2009, the top housing markets were those that weren’t in a freefall, including my home area of Syracuse, which was flat yet considered [...]
Actually, it’s just a bit longer than a month. By August 15th, consumers are supposed to make a decision with their bank accounts as to whether they want overdraft protection or not. It’s something I originally wrote about in February, but since we’re close to the date I felt it was a good time to [...]
On April 30th, 7 banks were closed, including 3 in Puerto Rico, bringing this year’s total for bank closures to 64. That’s a figure that we didn’t hit last year until August. Based on the speed we’ve been at so far, we could conceivably hit 190 banks or more closed by the end of the [...]
Well, I guess it had to happen eventually. After Citigroup finally posted its first profit in a very long time, the Treasury Department finally feels it’s time to shed itself of all that stock that they bought when Citigroup was in trouble. How much are we talking about? The government, which by extension means we [...]
I guess it had to happen eventually. Citigroup finally announced a quarterly profit after many quarters of massive losses. They reported a profit of $4.4 billion in the first quarter of this year, compared to a $670 million loss at the same time last year. Supposedly they’ve turned the corner because of trading of bonds [...]
Interesting days for JP Morgan Chase, if you ask me. On the financial front, things look pretty good. They just reported another profitable quarter, $3.3 billion in profits, up 55% from last year at this time. Sure, last year was bad for awhile, but no one scoffs much as that type of profit number. They’ve [...]
