QE could end this Summer according to leaked Fed minutes.
List of Banks and Lobbying Firms
Who Got the Fed Minutes Early – WSJ
American Bankers Association
American Council of Life Insurers
The Clearing House Association
The Cypress Group
Fifth Third Bank
The Gray Company
Independent Community Bankers of America
J.P. Morgan Chase
National Association of Realtors
Rich Feuer Anderson
Roberts Raheb & Gradler
Securities Industry and Financial Markets Association
Standard & Poors
Sullivan & Cromwell
The U.S. financial services industry has issued a warning that a Russian cyber-gangster is preparing to rob American banks and their customers of millions of dollars.
In addition, the computer security firm McAfee has reported that the cyber-criminal, who calls himself “Thief-in-Law,” already has infected the hundreds of computers of unwitting American customers in preparation to steal their bank account data.
The warning was issued Thursday by the Financial Services Information Sharing [...]
The financial and banking industries are on high alert tonight as a massive cyberattack continues, with potentially millions of customers of Bank of America, PNC and Wells Fargo finding themselves blocked from banking online.
“There is an elevated level of threat,” said Doug Johnson, a vice president and senior adviser of the American Bankers Association. “The threat level is now high.”
“This is twice as large as any flood we have ever seen,” said [...]
Bank Of America CEO Brian Moynihan has continued to maintain his bank has “a right to make a profit.” A San Francisco man has beat them back anyway.
Robert Whitten said as a 17-year-old he signed up for a lifetime free checking account with Virginia Commonwealth Bank, which after a series of acquisitions came into the ownership of BofA. One day, Whitten says, he noticed he was getting charged fees, according to ABC [...]
Information Overload Awareness Day
Don’t worry. Your smart phones, iPads and Nooks are safe. It’s the information overload at work that concerns the “Information Overload Network.” Information Overload costs the U.S. economy a minimum of $900 billion per year in lowered employee productivity and reduced innovation, according to Basex. Through surveys, Basex determined that 50 percent of a knowledge worker’s day is spent “managing information,” and excess information leads to “a loss of [...]
WASHINGTON (Dave Clarke) – Regulators are considering holding Wall Street chief executives legally liable if they allow certain types of proprietary trading on their watch.
Regulators due to reveal the Volcker rule proposal next week are expected to ask whether CEOs should have to certify, or “attest,” that their bank has put in place the proper systems to make sure no proprietary trading is taking place.
By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) — Delinquency rates for consumer loans rose in the second quarter, as employment weakness persisted and higher gas and food prices pressured family budgets, according to a report released Wednesday by the American Bankers Association.
According to ABA, delinquencies rose in nine of 11 loan categories, led by home-equity loans. The ABA’s composite ratio, which tracks delinquencies in eight closed-end [...]
The new U.S. consumer agency, which has yet to begin formal operations or write a rule, is already being squeezed between banks and advocacy groups over how to set up a complaint hotline.
Under the Dodd-Frank regulatory overhaul, the Consumer Financial Protection Bureau must establish a way for banking customers to submit reports about their problems with products and services. At issue is what happens after they’re filed.
Nonprofit groups such as Consumers [...]
by Voir Dire
The Secret of Oz
â€œIt is rare to get documented proof of the bankstersâ€™ deviousness in causing recessions in order to enrich themselves at the expense of the people. But we do have a private memo from the American Bankers Association in 1891, the contents of which are actually recorded in the Congressional Record of April 29, 1913. Keep in mind that this memo was written in 1891, undeniable [...]