banks
Big Banks' Small-Business Lending Promises
Late last year several of the nation's largest lenders made big promises to expand small business lending in 2010. Two appear to be making progress; figures aren't available yet on the others. Full Article.
Six New Credit Card Booby Traps on the Way
What Congress giveth, credit card companies are poised to take away. In six weeks, the final major provisions of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act will take effect. Issuers have, however, reacted to the sweeping new consumer protection law by quickly inventing new egregious tactics. Full Article.
New Fed Rule Requires Banks to Get Customer Consent for Overdraft Fees
Fed Reserve Officials announced today that, starting next summer, financial institutions will no longer be able to charge overdraft fees in most cases, unless customers opt in to the service. The new regulations cover overdrafts from ATM withdrawals and debit card purchases. Full Article.
Pew Charitable Trusts Report Concludes 12 Largest Banks Continue To Use Practices the Feds Concluded Were “Unfair or Deceptive”
Banks are struggling to make money in the credit card business these days, and consumers are paying the price.
Federal Reserve Pledges to Hold Rates at Record-Lows
The Federal Reserve held a key interest rate at a record low and again pledged to keep it there for an "extended period" to foster the fragile economic recovery. Full Article.
Newest Bank Fees
Interesting USA Today article about banks charging new fees to cardholders. Others already charge annual fees to cardholders who don’t put more than a specific amount on their cards. Full Article.
Industrial Development Bonds
Small companies with strong track records can gain access to as much as $10 million with rates as low as 3%—similar to what large corporations get in the commercial paper market by using a little-known set-aside in the public finance world called an industrial development bond, or IDB. Full Article.
Regions Bank Exec: Consumer Cutbacks Here To Stay
The economy has turned a crucial corner out of recession -- and into a world of limits, said the chief economist for one of the Southeast’s largest banks. Full Article.
New Set of Capitalization Options for Cenla Businesses
A Shreveport-based development firm that provides financing to Louisiana businesses that may not meet private lenders' criteria is expanding into Central Louisiana through an alliance with the Cenla Advantage Partnership. Full Article
Banks Quietly Negotiate Lower Credit Card Interest Rates
As Americans struggle to pay their credit card bills, banks are quietly re-negotiating credit card interest rates. If you own a credit card, this Washington Post article is worth reading. Full Article
