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TheStreet.com  2 hrs ago  Comment 
NEW YORK (TheStreet) -- Bank of America's much-anticipated settlement with the U.S. Justice Department over fraudulent mortgage securities the bank sold to investorsais less punitive than the $17 billion price tag suggests andadoes not address...
News.com.au  3 hrs ago  Comment 
THE Australian dollar has continued lower after Reserve Bank governor Glenn Stevens said he would not rule out intervention to bring the currency lower.
Clusterstock  4 hrs ago  Comment 
WASHINGTON (Reuters) - Bank of America Corp is expected to pay more than $16.5 billion to end investigations into mortgage securities that the bank and its units sold in the run-up to the financial crisis, in a deal that could be announced as...
TechCrunch  4 hrs ago  Comment 
 Banking is now in the eye of the beholder. That’s literally for EyeVerify. This new kind of ID verification tech lets you simply hold your smartphone about 8 inches from your face and take a picture of your eyeball. EyeVerify then...
Clusterstock  5 hrs ago  Comment 
The Feds are planning on suing former Countrywide CEO, Angelo Mozilo, according to Bloomberg. Mortgage insurer Countrywide became a focus of the financial crisis as regualtors, bankers, and politicians alike were shocked by the number of toxic...
MarketWatch  6 hrs ago  Comment 
U.S. central bankers say the labor market is improving faster than expected, but the majority of top Federal Reserve officials are still not convinced it's strong enough to alter their approach on interest rates anytime soon, according to minutes...
Jutia Group  8 hrs ago  Comment 
[Reuters] - Goldman Sachs Group Inc plans to raise pay for junior bankers by 20 percent next year, the New York Post reported on Wednesday. A Goldman Sachs spokesperson did not immediately respond to a request for comment. Goldman's pay hike comes...
The Hindu Business Line  Aug 20  Comment 
A Delhi court has deferred till tomorrow its order on the bail pleas of Chairman-cum-Managing Director (CMD) of Prakash Industries Ltd Ved Prakash Agarwal, and its Director Vipul Agarwal, arrested...
The Hindu Business Line  Aug 20  Comment 
State banking on Central assistance to improve financial position
Wall Street Journal  Aug 20  Comment 
China International has dropped CCB International from the list of underwriters on its planned IPO after a company the bank floated early this year recently said its chairman had gone missing.




 
TOP CONTRIBUTORS

The banking industry faces a challenging year in 2008 as many companies work through the weaker housing market and mortgage related issues.

In September 2007, the bank industry's earnings performance slipped for the first time in many quarters as the housing sector continued to weigh on the mortgage and investment banking businesses at many of the larger banks. The subprime mortgage fallout continued to affect the banking industry as it became difficult to value debt instruments backed by mortgages and caused a temporary credit freeze in some markets during the late summer.

More problems may arise in 2008 as rates on adjustable-rate mortgages made in 2005 and 2006 are scheduled to reset. Homeowners could potentially have a harder time making payments on these higher mortgages which may lead some to default. There is also a fear that the mortgage related problems may spill over into the credit card markets which would exacerbate the situation even further.

Banks make a profit by borrowing

Investment Banks

Investment banks help public and private institutions to raise capital and provide advice on mergers and acquisitions.

Savings and Loan Banks

Investment Banks

Foreign Regional Banks

Money Center Banks

Regional Banks

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