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Stock Market & Financial Investment News

News Breaks
April 1, 2014
06:54 EDTSANSantander deems U.S. unit capital levels sufficient, Reuters says
Banco Santander CEO Javier Marin said that the company's U.S. unit does not need additional capital after stress tests done by the Federal Reserve, according to Reuters, citing Marin. Marin said that its U.S. arm Sovereign would have to adjust and improve some parts of its capital plan to resubmit to the Federal Reserve, but the changes would be qualitative instead of quantitative. Reference Link
News For SAN From The Last 14 Days
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March 5, 2015
17:36 EDTSANBanco Santander releases results of 2015 Dodd-Frank Stress Test
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March 2, 2015
10:02 EDTSANSantander names Scott Powell CEO of Santander Holdings USA
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06:32 EDTSANLarge EU banks may come under scrutiny for reciprocity, WSJ says
The banking practice of reciprocity -- giving work to competitor banks in order to foster relationships or reward past deals -- may come under investigation by the U.K. Financial Conduct Authority, reports the Wall Street Journal, citing a person familiar with the regulator. The FCA believes the practice may be anticompetitive, but it hasn't yet determined the scope of its investigation into EU banks. Publicly traded companies in the space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:23 EDTSANBanco Santander's U.S. unit expected to name Powell as CEO, WSJ reports
Santander Holdings USA, the U.S. unit of Banco Santander (SAN), is expected to announce as today that Scott Powell will become its new CEO, sources tell The Wall Street Journal. Powell, a former head of JP Morgan Chase's (JPM) consumer-banking operations, would replace Roman Blanco. Reference Link
February 24, 2015
13:07 EDTSANEU official: Euro banks shouldn't also go through Fed's stress test, WSJ says
Jonathan Hill, the European Unionís new financial markets chief, told The Wall Street Journal that he does not see a need for the U.S. to give stress tests to European banks that have already received health checks in Europe. Hill says banks across Europe are "properly and sensibly capitalized." The WSJ reported last week that the U.S. units of two European banks, Deutsche Bank (DB) and Banco Santander (SAN), are set to fail the Federal Reserve's stress tests, though they passed ECB stress tests last year. Reference Link
February 22, 2015
15:40 EDTSANU.S units of Deutsche Bank, Santander seen failing stress tests, WSJ says
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February 20, 2015
10:47 EDTSANNY 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.
10:45 EDTSANSantander Bank announces new account opening screening process
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07:09 EDTSANSantander to change screening process for bank account applicants, Reuters says
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