New York Times  1 hr ago  Comment 
Federal prosecutors in Manhattan and San Francisco are investigating how bank employees secretly opened accounts without customers’ consent.
Yahoo  3 hrs ago  Comment 
If you do real business on Wall St., then you've heard of Mike Kramer.
Forbes  3 hrs ago  Comment 
Following last week's announcement that Wells would pay a total of $185 million in fines to settle charges that it created millions of fake bank accounts, the Wall Street Journal is reporting that federal prosecutors are in the "early stages" of...
Forbes  4 hrs ago  Comment 
Wells Fargo Bank  has spent $185 million to settle regulatory allegations of opening improper accounts and fired 5300 workers. The bank risks becoming the Chipotle of financial services: “I used to like them, but now I’m afraid to go in.”...
The Economic Times  5 hrs ago  Comment 
"We are looking at the entire sequence of events and whether there has been any violation of securities laws,” a Sebi official told ET.
MarketWatch  5 hrs ago  Comment 
Wells Fargo unlikely to recoup any of the millions in annual pay and share and cash bonuses paid to the executive of its scandal-ridden branch banking unit
Benzinga  6 hrs ago  Comment 
If Weight Watchers International, Inc. (NYSE: WTW)'s strategy moving forward is simply finding a new CEO and banking on the popularity of its "front woman" Oprah Winfrey, then the company may be in trouble. According to Bloomberg Gadfly's Shelly...
Financial Times  6 hrs ago  Comment 
Tononi follows CEO Viola in leaving troubled Italian bank
Financial Times  Sep 14  Comment 
Bankers and bosses shrug off post-referendum tension


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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