Wells Fargo Settles Mortgage Claims

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Wells Fargo Settles Mortgage Claims

Wednesday, October 6th, 2010 | Comments Off

Wells Fargo agreed to pay $24 million to eight states and $772 million in loan modifications to settle charges that various companies it had acquired marketed adjustable rate mortgages deceptively to consumers. The eight states claimed that Wachovia Corporation, which purchased World Savings Inc and was then in turn acquired by Wells Fargo, failed to […]

6 More Georgia, Ohio, New Jersey and Wisconsin Banks Fail

Monday, September 20th, 2010 | Comments Off

There have been 125 bank closures this year, and six more this past Friday. The FDIC (Federal Deposit Insurance Corporation) took over 3 Georgia banks on Friday: First Commerce Community Bank of Douglasville, with $248.2 million in assets; Bank of Ellijay, in Ellijay, with $168.8 million in assets; and Peoples Bank, based in Winder, with […]

Complete List of California Banks

Monday, August 30th, 2010 | Comments Off

Many people ask for a list of California Banks, so we’re glad to oblige. Note that this may change over time, but this is the list as at 2010. Most of these banks have internet sites that you can readily find on google: 1st Century Bank 1st Pacific Bank Affinity Bank Alliance Bank Alta Alliance […]

Consumers Cut Up Their Credit Cards

Friday, August 6th, 2010 | Comments Off

Today the St. Louis Fed just released figures on total consumer revolving credit. This is basically consumer credit data but a month late. Total consumer credit fell just .7% but figures show that revolving consumer credit shrunk 6.5% on an annualized basis. The decline went from $831 billion to $826 billion. The last time we […]

Which US Banks are Strongest?

Friday, July 30th, 2010 | Comments Off

Banker’s Magazine just completed its 2010 ranking of the world’s best banks. The list is based on Tier 1 capital which serves as a way to judge a bank’s ability to handle financial shocks and lend on a large scale. Bank of America, based in Raleigh, North Carolina, was selected as the world’s top bank […]

Debt Settlement Companies Face Crackdown

Thursday, July 29th, 2010 | Comments Off

Debt settlement companies are notorious for charging upfront fees for promising to reduce or eliminate credit card balances and other debt. The problem is, they don’t often deliver. The Better Business Bureau reports that since the start of the recession it has received more than 3,500 complaints about debt settlement companies, and for every complaint […]

Interest Rates on Treasury Notes Fall to a 14-month Low

Thursday, July 29th, 2010 | Comments Off

Interest rates on 10-year Treasury notes fell to their lowest level in 14 months, falling to 3.03% today. This is the lowest level since April 2009, and the recent actions by the Federal Reserve suggest that rates will stay low for some time into the future. A Consumer Spending report by the Commerce Department just […]

Best Savings Account Rates – Top 15 Bank Rates Available

Friday, July 23rd, 2010 | Comments Off

We know, we know. You’re looking for the best savings account rates for your money. We know times are bad for savers because savings accounts are paying such low interest rates, and so looking for a best savings account rate is now more important than ever. The Fed just announced they might even lower interest […]

The American Express Saving Account

Friday, July 23rd, 2010 | Comments Off

American Express not only dominates the credit card market, but offers other financial services too, which fall under the category of internet banking or online banking. Most consumers don’t know that American Express not only offers credit cards, but a High-Yield Savings Account and Certificates of Deposit (CD). You can open an American Express savings […]

PremierWest Bancorp Announces Second Quarter Results

Thursday, July 22nd, 2010 | Comments Off

PremierWest Bancorp (NASDAQ: PRWT), which operates several banking branches in California, announced results for the second quarter of 2010, as follows:

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