Bank balance sheets are incomprehensible, even to experts

Jan 2, 2013
After the financial crisis, banks are bigger and are complying with more regulation. That means many more pages in their annual reports, but look closely, and the metrics hide straightforward information about the banks' health.
Posted In: Banks

UBS could face a $1 billion LIBOR settlement

Dec 14, 2012
The Swiss banking giant UBS is reportedly headed for a $1 billion settlement over accusations it rigged LIBOR interest rates -- the benchmark for global lending.
Posted In: Banks, LIBOR, UBS

European leaders agree ECB should supervise big banks

Dec 13, 2012
European finance ministers struck a major new deal over their debt crisis. They agreed that the European Central Bank -- Europe’s equivalent of the Fed -- should take over the supervision of the continent’s biggest banks.
Posted In: Europe debt crisis, ECB, Banks

Citigroup announces 11,000 layoffs

Dec 5, 2012
This morning Citi says that total is about to shrink -- 11,000 job cuts worldwide in the next year or two, some of them at least here in the U.S.
Posted In: Citigroup, layoffs, Banks

Bank profits could hinge on bad-loan reserves

Oct 11, 2012
Hit by new regulations and low interest rates, banks are likely to dip into reserves for bad loans again to boost third-quarter profits.
Posted In: Banks

Banker's arrest sends Vietnamese markets spiraling

Aug 27, 2012
Vietnam has been on a roller coaster ride for a week. The turmoil was caused by one banker arrested for financial crimes.
Posted In: Vietnam, Banks

More credit unions adding and raising fees

Aug 17, 2012
Credit unions used to be a banking oasis free from fees. But slowly, credit unions are starting to charge for checking accounts and raising minimums to avoid fees.
Posted In: Banks, credit unions, fees

Who is responsible for foreclosed homes?

Aug 17, 2012
An LAPD police officer gives a tour of his precinct in Watts and the blight foreclosed homes have wrought upon the neighborhood. The City of Los Angeles says the banks who own the homes should be responsible for the upkeep of the foreclosures.
Posted In: foreclosures, los angeles, Watts, blight, Banks

States pursuing banks on LIBOR rate rigging

Aug 16, 2012
The attorneys general of New York and Connecticut have sent subpoenas to several banks, including JPMorgan Chase and Citigroup. When it comes to banking scandals, it's state regulators who are out in front.
Posted In: Banks, LIBOR

The shift from pro-market to pro-business

Aug 16, 2012
In the midst of the U.S. financial crisis, the economist Luigi Zingales became known for hyping a "managed bankruptcy" for the big banks. That way the banks' private investors, creditors and executives would bear most of the costs of their bad investments.
Posted In: Banks, capitalism