The Washington Independent

Posts Tagged banks

Many turn to Iowa credit unions ahead of ‘Bank Transfer Day’

By | 11.04.11 | 5:57 pm | More from The Iowa Independent

The social media-sparked “Bank Transfer Day” won’t officially be underway until Saturday, but credit unions in Iowa and throughout the nation are already benefiting from the initiative.

Wall Street Pay to Hit New High

By | 10.12.10 | 3:01 pm

Despite the stall-out in the recovery and the decline in median wages, Wall Street executives look set for record pay-outs this year. The Wall Street Journal reports:

About three dozen of the top publicly held securities and investment-services firms — which include banks, investment banks, hedge funds, money-management firms


Obama to Veto Notarizations Legislation That Might Impact Foreclosures

By | 10.07.10 | 6:59 pm

Today, President Obama announced he will not sign H.R. 3808, the Interstate Recognition of Notarizations Act of 2010, quietly passed through the Senate with no debate on Sept. 27. Instead, the president will return the bill to the House, effectively killing the legislation. White House Communications Director Dan Pfeiffer More…

Elizabeth Warren Takes Conciliatory Tone With Bankers

By | 09.30.10 | 10:51 am

Yesterday evening, Elizabeth Warren, responsible for setting up the Consumer Financial Protection Bureau, spoke at a meeting of the Financial Services Roundtable, a trade association for the country’s biggest banks.

In the past, Warren has lambasted banks for purposefully creating opaque, obscure products to make a buck off of More…

Goldman Sachs Explains Itself in National Campaign

By | 09.29.10 | 5:16 pm

Today, Goldman Sachs, the Wall Street investment bank, kicked off a national advertising campaign. The goal is to explain to regular Americans what it actually does and, one presumes, to try to shake its vampire-squid-wrapped-around-the-face-of-humanity rap.

The Hamstrung Fed

By | 09.13.10 | 12:38 pm

This morning, a little, wonky blog post is creating a lot of controversy. Economics of Contempt writes:

Here’s a scary thought: Let’s say the European sovereign debt crisis flares up again, and one or two Euro banks fail. (Not a bank like UBS or Deutsche Bank, but a medium-sized


Overdraft Protection Opt-In Comes Into Effect

By | 08.16.10 | 2:32 pm

As of yesterday, banks need to ask customers whether they would like to be allowed to overdraw their checking accounts for a fee, usually $35. About 70 percent of Americans are expected to do nothing or say no to this overdraft protection, meaning their banks will start rejecting transactions More…

House Ethics Committee Releases Details on Charges Against Waters

By | 08.09.10 | 3:48 pm

Today, the House Ethics Committee released a number of documents related to the three charges against Rep. Maxine Waters (D-Calif.), accused of working to further a Treasury bailout for a bank with ties to her husband.

Bernanke Stresses That ‘Creativity’ Helped Staunch Financial Crisis

By | 04.09.10 | 10:50 am

Speaking to the Center for the Study of the Presidency and Congress last night, Federal Reserve Chairman Ben Bernanke went back to his academic roots. The longtime Princeton economic historian, who specializes in the study of the Great Depression, cited the “passivity” of policymakers during the 1930s as central More…

Banks Lower Debt Levels Just Before Quarterly Reports

By | 04.09.10 | 8:34 am

This morning, The Wall Street Journal breaks the unfortunate if unsurprising news that big Wall Street banks routinely lower their debt levels shortly before reporting their quarterly statements, making the banks seem less leveraged than they are.

A total of 18 banks, including Bank of America, Goldman Sachs and Citigroup, More…