Tag:
Thrifts
Latest Headlines
Latest Headlines
Study: Fees rise, free checking accounts harder to find
A recent survey of the five largest banks and five largest thrifts in 25 of the nation's biggest markets confirms what you already knew: Just 65 percent of noninterest accounts were free of monthly fees or balance requirements, the hallmark of the "free" checking account. That's down from 76 perce
Wholesale credit unions seized by regulators
Credit unions have long held themselves out to be upright, arch-conservative lenders-- throwbacks to a much simpler, safer era in consumer banking. Normal Rockwell would have found credit union executives worthy subjects. But the financial crises has revealed the unsavory side of thrifts.
Acco
Savings and loan regulator will be shuttered
Good bye thrift industry. As part of the historic financial reform bill ( financial reform news), the Office of Thrift Supervision will be shuttered, an apt symbol of the demise of a once proud industry. The ranks of the nation's "thrifts" have dwindled. The biggest names--Washington Mutual, In
California banks come to the rescue of state workers
Employees of the state of California are caught in the state budget vise yet again. The legislature and governor are at war over a projected $19 billion deficit, and a Sacramento state appellate court has just upheld an order compelling the state to reduce employee pay until a budget is finally pa
Small banks support credit card companies on fees
The proposed law to cap debit card fees explicitly exempts cards issued by small banks and thrifts. Cards from larger institutions would be subject to interchange fee limits; the Federal Reserve would be given the right to limit these debit card fees (not credit cards), which now average about 1 p
Credit unions and CDOs: Toxic combination
When you think of credit unions, you think of safe, conservative retail banking and lending operations. For the most part, that image is on the money. But at least one thrift got itself into a lot of trouble by dabbling in collateralized debt obligations ( CDO news), which some may find shockin
Can we improve on the RTC bailout model?
When you think about it, the Resolution Trust Company set a pretty high bar. Created in 1989 to shutter failed thrifts and sell their assets, it was able to pay all obligations to depositors, even as hundreds of executives and directors were convicted. In sum, the RTC managed to sell $459 bill
U.S. moves to end financial crisis once and for all
Even after the bailout of Bear Stearns, of Fannie and Freddie, and then AIG, the government has decided that it needs to do more. So what we're seeing now are extraordinary moves that are designed to end the crisis; not reduce the severity of it, but to end it. Treasury Secretary Henry Paulson
