Watchdog Group Raises Alarm Over ‘Payday Loans’ at Mainstream Banks

Increasingly, mainstream banks are offering products similar to payday loans — short-term, high-interest loans secured by a pending paycheck — according to a consumer group that called on the Office of the Comptroller of the Currency to stop the practice.

Banks including Wells Fargo and U.S. Bank More…

Recapturing Writedowns

Here’s a fun accounting term to remember: accretable yield. That’s the difference between a loan’s value on a bank’s balance sheet and the expected cash flow from the loan. Bloomberg reports:

JPMorgan Chase & Co. stands to reap a $29 billion windfall thanks to an accounting rule that lets

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