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Latest Banks news and updates

Money Matters - Simplified

Banks

Still Waiting for Early Signs of a Banking Recovery

As of late, euphoria in bank stocks has rest on a simple prediction:
The losses that brought so much pain over the past two years are
finally coming to an end.

The Coming Financial Time Bomb

Maybe you've heard this popular myth: A major cause of the financial
crisis was boneheaded Wall Street compensation packages unaligned with
shareholder interests.

3 Reasons Mortgage Modifications Are Failing

In February, with great fanfare, the government announced a mortgage modification program targeting loans backed by Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE).
It was designed to stem the surge in foreclosures and give the little
guy a chance. A bailout for the average Joe, to fix housing and get the
economy back on track.

A Massive Bet on Bank of America

Think you have a lot invested in Bank of America (NYSE: BAC)?

John Paulson, the head honcho at Paulson & Co. (not to be confused with ex-Treasury chief Hank Paulson), invested $2.2 billion in the bank during the second quarter, at an average buy price of $13.20 a share.

2-Star Stocks Poised to Plunge: Citigroup?

Based on the aggregated intelligence of 135,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, banking behemoth Citigroup (NYSE: C) has received a distressing two-star ranking.

3 more banks shut shop in Florida, Oregon

Florida, August 8: The effects of economic recession just do not seem to show any signs of slowing down with two more banks being shut down in Florida and one in Oregon. With this, the number of U.S. banks that have failed this year jumped to 72.

How Does Goldman Make So Much Money?

You've probably heard by now that Goldman Sachs (NYSE: GS)
shot the lights out last quarter. In its 10-Q, released earlier this
week, the investment bank shows just how successfully it's navigating
current markets. During the second quarter, Goldman made more than $100
million in trading revenue in each of a record 46 days, with just two
losing days out of 65 – for an astonishing hit rate of 97%!

Is Bank of America a Buy?

Bank of America (NYSE: BAC)
has surged nearly sevenfold since its March lows. After this epic run,
it's worth asking: Are shares getting ahead of themselves, or are they
still worth buying?

Expert: Credit cards are sneaking in fees

New York -- U.S. credit card companies are trying a stealth approach to raising fees -- raising those least likely to attract attention, an industry researcher said.

Banks are "hoping to slip in fees where they're least likely to be noticed," Adam Jusko, founder of IndexCreditCards.com told USA Today Thursday.

Banks have raised a variety of fees in recent months in anticipation of the credit card reform law passed in May that prohibits raising established rates on some accounts and includes other restrictions.

Among the fees raised recently, Fifth Third Bank initiated a $19 fee for borrowers who show they have not used their credit accounts in 12 months -- an inactivity fee.

Bank of America Submits Its Bid for Dumbest Move of the Week

It was a relatively slow Monday morning for me, spent trying to kick-start my brain with a few cups of coffee, when Bank of America (NYSE: BAC) jolted me into action -- and gave me a great laugh.


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