Profitable Consumers: Banks a Desired Insurance Distribution Channel

Published - 03/14/2012 12:00 AM

Customers who buy investments and insurance where they bank are among a retail financial institution's most profitable, loyal and desirable customers, according to a new study. Of the customers that had 5.5 banking products, 29 percent said they would not switch to another bank or credit union if sold ... 

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Big Banks Face Inquiry Over Home Insurance

Published - 01/09/2012 11:00 PM

A New York State financial services agency is investigating several large banks to see whether they fraudulently steered homeowners into overpriced insurance policies. The investigation centers on so-called force-placed insurance that has become increasingly common since the downturn of the housing market began and homeowners had trouble keeping up ... 

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Insurance Cost Tells a Tale About Banks

Published - 12/10/2011 11:00 PM

Bank of America has taken more of a beating in recent months than investors may realize. While the bank's stock has neared, but not touched, lows seen during the worst of the financial crisis, the cost of insuring against default for some of BofA's debt has sometimes surpassed that ... 

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Swiss banks likely to turn over names of Americans with secret accounts

Published - 10/26/2011 12:00 AM

Swiss banks will probably settle a sweeping U.S. probe of offshore tax evasion by paying billions of dollars and handing over names of thousands of Americans who have secret accounts, according to two people familiar with the matter. U.S. and Swiss officials are concluding negotiations on a civil settlement ... 

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Bank Failures Will Cost $19 Billion Through 2015, FDIC Says

Published - 10/11/2011 12:00 AM

(Bloomberg) -- U.S. bank failures through 2015 will drain $19 billion from the Federal Deposit Insurance Corp. fund for covering losses from shutdowns, the agency said in an update of its reserve ratio projections. The $19 billion figure reported by the FDIC today is a decrease from the estimated ... 

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Small banks say new mortgage regulations too onerous

Published - 08/15/2011 12:00 AM

NORWALK, Iowa — Alesia Harlan plopped the thick folder on the desk and started flipping through papers. Disclosures, notices, statements, forms and tax documents — it was about 300 pages, and it was just a home loan. Last year, reviewing the bank's 455 home loan applications created more ... 

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New Fee to Bank Cash

Published - 08/04/2011 12:00 AM

Bank of New York Mellon Corp. on Thursday took the extraordinary step of telling large clients it will charge them to hold cash. The unusual move means some U.S. depositors will have to pay to keep big chunks of money in a bank, marking a stark new phase of ... 

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Collateral Rules Criticized

Published - 07/25/2011 12:00 AM

Some lawmakers and financial firms are resisting rules being written to implement last year's Dodd-Frank law that could require banks to set aside more collateral when they make certain trades in the derivatives market. The law requires that much of the collateral be held in cash or high-quality government ... 

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