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Banking

“Big banks have drastically cut overdraft fees, but customers still paid $2.2 billion last year”

“… …” https://www.cnbc.com/2024/02/09/jpmorgan-chase-wells-fargo-cut-overdraft-revenue-to-2-billion-in-2023.html

Banking, Economy, Real Estate

“The Real Estate Crisis Looming Over Banks”

“…Fears are now rising among investors over the United States’ distressed commercial real estate sector. This comes as a crucial lifeline created during last year’s banking crisis is set to expire. N.Y.C.B.’s shares plunged as much as 15 percent in… Continue Reading…

Banking

“Some banks see new cracks forming in a resilient US consumer”

“…Executives from Wells Fargo (WFC), Fifth Third Bancorp (FITB) and Capital One (COF) all said this past week that they are noticing a divergence between the two ends of their customer base, with lower income consumers feeling more pain on… Continue Reading…

Banking

“Big banks have to raise capital by as much as 19% under proposed US rules”

“US regulators are proposing that big banks increase their capital levels to protect against future blowups following a regional banking crisis, one of the most sweeping overhauls of how lenders are regulated since the 2008 financial crisis… …Agency officials said… Continue Reading…

Banking

“2 California banks are merging into a new $36 billion bank. It’s the latest in a string of consolidations after a crisis rocked the US banking world in March.”

“Shares of Banc of California and PacWest Bancorp got a major boost from news Tuesday that the two lenders will merge in an all-stock deal to create a new bank. PacWest shares surged 31.3% to $10.10 apiece in after-hours trade after news… Continue Reading…

Banking

“Canada Targets Banks for Billions With Dividend Tax Change”

“Finance Minister Chrystia Freeland is planning to raise billions of dollars from banks and insurance companies by changing the tax rules for dividends they get from Canadian firms… In a measure that officials billed as closing a loophole, Canada will… Continue Reading…

Economy

“BlackRock — the world’s largest asset manager — says central banks are ‘deliberately’ causing recessions and warns of a downturn unlike any other…”

“Many experts have already sounded the alarm on the U.S. economy. But you still want to pay attention to what BlackRock — the world’s largest asset manager — has to say for a very simple reason: it’s predicting a recession… Continue Reading…

Banking

“Do Banks Practice Religious and Political Discrimination?”

“ EDITOR’S NOTE: The problem with policies of inclusivity is that they often construct false environments of tolerance using incompatible elements glued together by a punitive bind of silence. If you think about it, differences in belief are defined by exclusivity; and… Continue Reading…

Economy, Precious Metals

“Central Banks And Unknown Buyers Are Scooping Up A Record Amount of Gold”

“EDITOR’S NOTE: If all you listen to is mainstream financial news, all you’ll hear about are the “fashionable” narratives that, though intriguing, may mean zilch at the end of the day. So, you heard about gold’s plunge in October in contrast to… Continue Reading…

Economy

“Long lines are back at US food banks as inflation hits high”

“…Inflation in the U.S. is at a 40-year high and gas prices have been surging since April 2020, with the average cost nationwide briefly hitting $5 a gallon in June. Rapidly rising rents and an end to federal COVID-19 relief have also taken a… Continue Reading…