JPMorgan Chase Stops Share Buybacks to Preserve Capital
JPMorgan Chase has suspended its stock repurchase program in the aftermath of the bank’s derivatives trading losses of more than $2 billion, although chief executive Jamie Dimon said its more about capital ...
HARP 2.0: 500K Applications; 60% Projected Approvals
The Obama Administration’s revamped Home Affordable Refinance Program, so-called HARP 2.0, has drawn applications for refinancing from half a million households since its reboot earlier this year, according to ...
Auto Loans Lead Modest Jump in Consumer Lending: Fed
Demand for consumer loans have increased somewhat, with auto loans showing the largest increase, according to the Federal Reserve’s most recent quarterly survey of loan officers released today.
Overall, the Fed’s ...
Fed: Moderate U.S. Growth, Near-Zero Rate Holds Thru 2014
The Federal Reserve’s policy-setting committee said today it expects U.S. economic growth to remain moderate over coming quarters and then to pick up gradually.
Following its two-day meeting, the Fed’s Federal ...
First Premier Case: U.S. Agency Urged to Fight ‘Fee Harvester’ Cards
Consumer advocates from several national groups are urging the Consumer Financial Protection Bureau to legally fight the high sign-up costs of subprime, so-called “fee-harvester” credit cards.
The response from ...
Fed Sets Panel of Economists to Study Bank ‘Stress Tests’
The Federal Reserve has assembled a panel of economists to evaluate the “stress test” models that determine how the largest U.S. banks fare during an economic crisis.
The Model Validation Council will provide ...
Bernanke Got It Right on ‘Far from Normal’ Jobs Market
Pronouncements by Federal Reserve Chairman Ben Bernanke just a few days ago that doused visions of a rosy jobs market apparently came true this week with a release of the first disappointing unemployment report ...
Fed Guides Banks on Converting Foreclosures into Rentals
With new guidelines, the Federal Reserve has paved the way for banks to convert foreclosed residential properties into rentals “in light of the extraordinary market conditions.”
The Fed also said that Banks ...
Bernanke: Gains Aside, Jobs Market ‘Far from Normal’
Federal Reserve Chairman Ben Bernanke may have doused some hopes of a jobs-propelled recovery by describing U.S. employment as still “far from normal.”
Despite recent gains in the overall employment picture, ...
Bernanke: U.S. Banks Can Stand ‘Extremely Adverse’ Scenario
Most of the largest U.S. banks, even with some exposure to the European financial crisis, would meet capital reserve requirements in an “extremely adverse” economic scenario, said Federal Reserve Chairman Ben ...
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