While Wall Street institutions struggle to survive, Main Street banking businesses stand safe and sound.
This is the message to consumers from community banking institutions - that they've made smart investment decisions, and they're not in jeopardy from the fallout of the global credit crunch. From newspaper...
As the markets tumble and the American consumer watches retirement funds evaporate, fraudsters are eagerly seeking new victims.
The Federal Deposit Insurance Corporation (FDIC) warns consumers to beware fraudulent emails purporting to be from the agency. In a news alert issued on Thursday, the FDIC warns recipients...
Interview with Nancy Atkinson of Aite Group
Market crashes, bank closures, history in the making.
Today's news is filled with troubling symptoms of the global credit crunch. Yet, despite this economic crisis, regulatory compliance and risk management remain top priorities of banking institutions.
In this...
In an unprecedented move, U.S. Department of Treasury sources say the federal government may inject funds directly into troubled banks in order to get banks to begin lending -- another move to try to stabilize the shaky stock markets.
The European markets rallied behind the news that leaked yesterday, and the US...
Whispered fears of a global recession became louder on Wednesday, as world stock markets took yet another precipitous drop overnight. Japan's Nikkei had the biggest loss recorded since the 1987 market crash, with a 9.4% drop that wiped $250 billion off of Tokyo stock value.
The U.S. Federal Reserve and other...
The sad scenario plays out on the news on a regular basis these days. A homeowner facing foreclosure is barricaded inside their home as law enforcement comes to serve the papers. Shots ring out, and officers rush in to find the wounded homeowner.
What happened last Friday with Addie Polk of Akron, Ohio, a...
The Wachovia bank battle continues between Wells Fargo and Citigroup, with yesterday's afternoon announcement of a "cease-fire" of sorts between the rival suitors.
This was after Citigroup filed a $60 billion suit because Wachovia entertained a better offer from Wells Fargo on Friday. All three banks' stocks slid in...
In discussing our current banking crisis with a colleague earlier this week, I was surprised by the level of cynicism he displayed towards the regulatory agencies and their efforts to govern the institutions they oversee. He's a practitioner like me, and I'd always thought of him as being of an equal mind on such...
The passage of the $700 billion bailout of Wall Street didn't have the desired effect on the world's stock markets, as they all suffered through another traumatic session on Monday. The Dow Jones industrials plunged as much as 800 points, setting a new record for a one-day point drop.
Investors watched with baited...
In a stunning move announced early Friday morning, Wells Fargo & Company (NYSE:WFC) and Wachovia Corporation (NYSE:WB) have signed a definitive agreement to merge their operations in a stock-for-stock transaction requiring no government assistance.
This merger is a 180-degree turnaround from the news announced...
We just saw banking history being created.
It isn't over yet, the reshaping of the U.S. financial services landscape, but when you look back on the seismic changes that occurred in September, you appreciate that we have indeed just experienced a series of events unlike any since the Great Depression. It seems every...
Two days after the House narrowly rejected the Bush Administration's proposed $7 billion financial market bailout, the U.S. Senate on Wednesday approved an amended version of the bill.
By a 74-25 vote, the Senate gave thumbs-up to an aid package that includes new "sweeteners" to attract House critics - i.e. middle...
OK, you've heard enough from me of late about what banking institutions should say or do re: customer confidence and the crazy economic mess we're in.
Well, here's what one bank actually did about it.
A quick update on economic events since Tuesday ...
The stock market rose on Tuesday on news that the work on the revised $7 billion financial market bailout bill looked promising. This was one day after the biggest point drop in its history.
In the wake of recent economic news, banking/security leaders everywhere are asking "What should I tell my customers about my own bank's safety and soundness?"
Here are three tips for your consideration.
1) Reinforce that Your Institution is Safe & Sound -- Community banks traditionally have had a unique, close...
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