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May 6, 2014
04:55 EDTALLY, ALLY, BBT, BBT, COF, COF, DFS, DFS, FITB, FITBDeutsche Bank to hold a conference
2014 Regional Banks Conference is being held in Boston on May 6 and in Chicago on May 7.
News For ALLY;BBT;COF;DFS;FITB From The Last 14 Days
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February 27, 2015
21:14 EDTDFSDiscover management to meet with William Blair
Group luncheon to be held in New York on March 6 at 12:30 pm hosted by William Blair.
16:30 EDTALLYAlly Financial discloses receiving subpoenas from Dept. of Justice, SEC
In a regulatory filing, Ally stated: "We have received subpoenas from the DoJ that include a broad request for documentation and other information relating to residential mortgage-backed securities issued by our former mortgage subsidiary, Residential Capital, and its subsidiaries... In connection with these requests, the DoJ is investigating potential fraud and other potential legal claims related to ResCap RMBS, including its investigation of potential claims under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. The DoJ is also investigating potential claims under the False Claims Act related to representations made by us in connection with investments in Ally made by the United States Department of the Treasury pursuant to the Troubled Asset Relief Program in 2008 and 2009 regarding certain claims against Residential Capital or its subsidiaries at that time. We are engaged in ongoing discussions with the DoJ with respect to legal and factual aspects of their investigations. Further, at the request of the DoJ, we have entered into an agreement to voluntarily extend the statutes of limitations related to potential FCA claims. We have separately received subpoenas and document requests from the SEC that include information covering a wide range of mortgage-related matters... In October 2014 we received a document request from the SEC in connection with its investigation related to subprime automotive finance and related securitization activities. Separately, in December 2014, we received a subpoena from the DoJ requesting similar information. We are currently cooperating with both the SEC and DoJ with respect to these matters."
February 26, 2015
08:31 EDTBBTBB&T received HUD-OIG subpoenas from DOJ in late 2014
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06:46 EDTDFSDeutsche sees American Express as undervalued, upgrades to Buy
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February 25, 2015
10:38 EDTCOFCapital One says cooperating with anti-money laundering probe
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February 20, 2015
10:47 EDTCOFNY AG says Santander Bank to adopt new policies regarding use of ChexSystems
New York Attorney General Eric T. Schneiderman announced that Santander Bank, N.A. (SAN) has agreed to adopt new policies governing its use of ChexSystems, a consumer-reporting agency that screens people seeking to open checking or savings accounts. Santanderís new policies are expected to allow thousands of additional New Yorkers and consumers nationwide to open bank accounts by September 30. The change comes amid concerns that screenings by ChexSystems and other consumer-reporting agencies, which are used by most of the nationís banks, adversely affect lower-income applicants and force them to turn to high-cost alternative financial services like check-cashing outlets. With this agreement, Santander now joins Capital One (COF) and Citibank (C) as the third bank to commit to overhaul its use of ChexSystems. The three banks operate a combined 613 branches across New York State and 2,822 branches nationwide.
08:11 EDTALLYAlly CEO exploring subprime lending, sees loss of GM business, Detroit News says
Ally (ALLY) CEO Jeffrey Brown stated in a Thursday interview with The Detroit News that the company may return to offering credit cards and home mortgages, and currently plans to expand auto lending to subprime customers. The CEO said he expects to decide within 30-60 days whether Ally will consolidate its five locations to a single headquarters in the Detroit suburbs. Brown added that he expects GM (GM) to shift its $4.1B subsidized leasing program for Chevrolet from Ally to GM Financial, which the Ally CEO wants to offset by increasing subprime lending from 9% of total lending to 12%-15%. Reference Link
07:04 EDTALLYAlly CEO assuming company will lose all of GM's leasing business, Reuters says
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February 17, 2015
08:01 EDTDFSDiscover January charge-offs 1.77% vs. 1.69% last month
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06:05 EDTCOFCapital One reports January net charge-off rate 3.57% vs. 3.53% last month
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