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Banking and Finance

JP Morgan becomes the latest hacking victim

Wed, 13/03/2013 - 11:54 by Shipra

Banking giant JP Morgan Chase was off the internet this afternoon owing to distributed-denial-of-service attack.

Fall in U.S. Credit Rating: What It Means for Small Businesses

Wed, 17/08/2011 - 14:00 by Ann Tyler

Standard and Poor's recent downgrade of U.S. government debt may seem too remote from small businesses to have any impact. But what really are the factors that the downgrade raises, and how can small businesses adapt to the change?

Fed survey claims banks relaxing loan conditions

Tue, 16/08/2011 - 17:45 by Anter Prakash Singh

The quarterly survey of senior loan officers conducted by the Federal Reserve found that the banks continued with the trend of easing out lending standards. Some of the respondent even claimed a slight rise in the demand for industrial and commercial loans along with the loans for commercial real estate.

Mortgage servicers reach compromise decree on foreclosure fiasco

Thu, 14/04/2011 - 15:25 by Anter Prakash Singh

The officials from the Department of Housing and Urban Development, Justice Department and 10 state attorneys general met with representatives of 14 largest mortgagers of the U.S. and reached a settlement to compensate house owners who incurred losses due to faulty foreclosures.

Banks running short of cash in Ivory Coast

Sat, 19/02/2011 - 15:11 by Anter Prakash Singh

The banking system came almost to a halt after banks in Ivory Coast failed to deliver cash to hundreds who have lined up outside to withdraw cash. The banks have cited liquidity and security problems which arose after the disputed No. 28 elections, last year.

Bank of America to rescue distressed borrowers

Thu, 25/03/2010 - 15:19 by Neha Gupta

Bank of America (BOA) on Wednesday announced that it would take steps to help mortgage borrowers who owe significantly to the bank.

Fed raises rates for emergency loans

Fri, 19/02/2010 - 13:04 by harsheeb

Washington -- The U.S. Federal Reserve Bank took a critical step in normalizing its monetary policies Thursday, raising rates for emergency loans made to banks.

The Fed raised its discount rate from 0.5 percent to 0.75 percent, a move that is not expected to affect interest rates for consumer or business loans, as would a raising of the federal fund rate, which remains at zero to 0.25 percent.

"The modifications are not expected to lead to tighter financial conditions for households and businesses and do not signal any change in the outlook for the economy," the Fed said.

However, the Fed said it was raising the discount rate "in light of continued improvement in financial market conditions."