Banks (Finance)
Dhanlaxmi Bank has entered into a Memorandum of Understanding (MoU) with Life Insurance Corporation of India (LIC), allowing policyholders to receive payments through electronic funds transfer. The agreement enables policyholders to receive funds directly in their bank accounts using the National Electronic Funds Transfer (NEFT) mode. This collaboration will benefit
Banks (Finance)
Axis Bank, the country's third-largest private sector bank, is seeking to increase its retail operations by targeting smaller cities. The bank plans to raise the share of retail loans to 30% of total loans from the current 21% in the next three years. This move is expected to
Banks (Finance)
Financial stocks saw a decline in pre-market trading on December 1, 2011, despite the sector having made gains in the previous two sessions. Toronto-Dominion Bank (TD) shares rose after acquiring MBNA Canada's credit card portfolio from Bank of America (BAC). Meanwhile, Western Union (WU) shares tipped lower after
Banks (Finance)
The coordinated effort by central banks to reduce the cost of U.S. dollar funding has provided a short-term boost to major U.S. banks such as Bank of America, Wells Fargo, JPMorgan Chase, and Citigroup. However, experts believe that this move will not have a lasting impact on the
Banks (Finance)
As the dust settles on the debit card fee fiasco, credit unions are reaping the benefits of disgruntled consumers fleeing big banks. Despite initial losses, big banks have regrouped and introduced new fees to compensate. Credit unions, meanwhile, are continuing to promote their no-fee or low-fee policies, attracting members who
Banks (Finance)
The nation's largest mortgage servicers, including Bank of America, Citigroup, and Wells Fargo, have been working to clean up their loan servicing and foreclosure practices after being slapped with cease and desist orders by the Office of the Comptroller of the Currency (OCC) in April. The servicers have
Banks (Finance)
Insiderslab.com has issued insider trading reports and equity research for several top companies, including Intel, QUALCOMM, Green Mountain Coffee Roasters, and Bank of America. These reports highlight substantial stock option sales made by senior executives and directors at these companies, which can potentially provide valuable insights for investors. The
Banks (Finance)
Financial shares are experiencing a significant downturn in late trading as Bank of America (BAC) and other major institutions implement fee hikes to compensate for revenue lost from the failed attempt to charge for debit card use. The Dow Jones U.S. Financial Index has taken a 2.71% hit,
Banks (Finance)
Consumers are facing a perfect storm of increasing bank fees, hurt by a weak economy, troubled financial markets, and low interest-rate yields. Despite Bank of America canceling its planned $5-a-month debit card fee, banks continue to rise fees, leaving consumers with fewer options and higher costs. As consumers become increasingly
Banks (Finance)
Senators Dick Durbin and Jack Reed have taken a crucial step to protect American consumers by urging financial institutions to adopt a voluntary bank account fee disclosure form designed to make checking account terms and fees transparent and easy to understand. The move comes after bank giants like Bank of
Banks (Finance)
Bank of America, the second-largest US bank by assets, has scrapped plans to charge customers a $5 monthly fee for debit card purchases, reversing a decision made just a week ago. The move follows a wave of consumer backlash and a campaign to switch to community banks and credit unions.
Banks (Finance)
Global markets are in chaos as a surprise move by the Greek Prime Minister sends shockwaves across the Atlantic. Bank shares are plummeting in pre-market trading, with many hitting fresh session lows. The Greek Prime Minister's decision to hold a referendum on the latest EU bailout plan has
