News Breaks |
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| February 24, 2013 |
| 20:32 EDT |  | JPM, WFC, BAC | Major U.S. banks facilitating state-banned 'payday' loans, NYT says
Major U.S. banks are quickly becoming the facilitators of Internet-based payday lenders like Loanshoponline.com and Advancemetoday.com that offer short-term loans with extremely high interest rates. JPMorgan Chase (JPM), Bank of America (BAC) and Wells Fargo (WFC) do not make the loans but are a necessary link for the internet-based "payday" lenders, says the New York Times, "enabling the lenders to withdraw payments automatically from borrowers’ bank accounts, even in states where the loans are banned entirely. In some cases, the banks allow lenders to tap checking accounts even after the customers have begged them to stop the withdrawals," says the New York Times. Reference Link |
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News For JPM;BAC;WFC From The Last 14 Days Check below for free stories on JPM;BAC;WFC the last two weeks. |
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| June 18, 2013 |
| 07:29 EDT |  | BAC | Securities Industry and Financial Markets Association to host a conference
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| June 17, 2013 |
| 10:22 EDT |  | BAC | Bank of America reports May card write-offs 4.03% vs. 4.55% last month
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| 09:36 EDT | | JPM | JPMorgan reports May net credit losses 3.34% vs. 3.49% last month
Reports May delinquency rate 1.60% vs. 1.70% last month. |
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| 08:09 EDT | | JPM | JPMorgan confirms launch of asset tracking service
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| 07:50 EDT | | JPM | Move to relaunch synthetic CDOs falls apart, FT reports
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| 07:42 EDT | | JPM | JPMorgan to begin asset tracking service, FT reports
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| 07:31 EDT | | WFC | DNV KEMA to host a forum
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| 07:13 EDT | | BAC, JPM | Bank profits seen hurt by rising rates with no growth, Bloomberg reports
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| 07:10 EDT | | WFC | Big banks fight new rules for small loans, WSJ reports
Large banks are pushing back against regulators' plans to toughen rules on short-term, high-interest consumer loans. Wells Fargo, the largest bank to offer "deposit-advance loans," told regulators that it will discontinue the loans if plans for tougher rules are completed, reports the Wall Street Journal.Reference Link |
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| 06:14 EDT | | JPM, BAC, WFC | On the Fly: Periodicals Wrap-Up
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| June 14, 2013 |
| 10:10 EDT |  | WFC | On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Express (AXP) downgraded to Equal Weight from Overweight at Barclays... AngloGold (AU) downgraded to Sell from Neutral at UBS... DuPont (DD) downgraded to Neutral from Buy at BofA/Merrill... Myriad Genetics (MYGN) downgraded to Neutral from Buy at BofA/Merrill... Progress Software (PRGS) downgraded to Hold from Buy at Needham... Rubicon (RBCN) downgraded to Sell from Neutral at Goldman... Southern Company (SO) downgraded to Hold from Buy at Jefferies... SunTrust (STI) downgraded to Neutral from Buy at UBS... Wells Fargo (WFC) downgraded to Neutral from Buy at Sterne Agee... FIS (FIS) downgraded to Neutral from Outperform at RW Baird... SM Energy (SM) downgraded to Hold from Buy at Societe Generale..Wells Fargo (WFC) downgraded at Sterne Agee. |
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| 09:05 EDT | | JPM | JPMorgan says One Equity Partners to raise future funds independently
JPMorgan Chase announced that the partners of One Equity Partners, the firm’s private equity unit, will begin to raise their next fund from an external group of limited partners and become independent from JPMorgan Chase. One Equity Partners currently manages approximately $4.5B of investments for JPMorgan Chase in direct private equity transactions and has produced strong returns over the last twelve years. OEP will continue to make direct investments for JPMorgan Chase for an interim period. OEP will still manage the existing group of portfolio companies for JPMorgan Chase to maximize value for the firm. |
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| 09:05 EDT | | JPM | JPMorgan says One Equity Partners to become independent
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| 07:57 EDT | | WFC | Wells Fargo downgraded at Sterne Agee
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| 06:30 EDT | | WFC | Wells Fargo downgraded to Neutral from Buy at Sterne Agee
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| June 13, 2013 |
| 16:00 EDT |  | BAC | Options Update; June 13, 2013
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| June 12, 2013 |
| 18:30 EDT | | JPM | JPMorgan cuts 1,800 jobs in mortgage servicing, CNBC reports
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| 15:54 EDT | | JPM | JPMorgan cuts 1,800 jobs in mortgage servicing unit, CNBC reports
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| 10:14 EDT | | WFC | On the Fly: Downgrade Summary
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| 08:49 EDT | | BAC | Babcock & Wilcox names Mark Carano Chief Corporate Development Officer
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