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Banks launch effort to reverse image

Colorado bankers have launched a campaign that attempts to reverse their image as the tight-fisted scrooge holding up the progress of small business. Continue Reading Banks launch effort to reverse image

Colorado to receive $51m in bank settlement

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Colorado will use the $51.17 million it received under the recent multi-state settlement with the country’s five largest banks to pay for homeowner relief and foreclosure-prevention efforts throughout the state. “These funds will help keep Coloradans in their homes and prevent future foreclosures,” Attorney General John Suthers said in a statement. “In cooperation with the… Continue Reading Colorado to receive $51m in bank settlement

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Bumpy earnings season ahead for banks

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You can usually tell a lot about the health of the U.S. economy by looking at the financial results of banks. They’re the people who finance new factories, plant expansions and fatter payrolls. But don’t count on that over the next two weeks, when banks report their results from the last three months of the… Continue Reading Bumpy earnings season ahead for banks

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U.S. stocks are edging lower in late morning trading with bank stocks leading the way down. Citigroup Inc. and Morgan Stanley are down nearly 6 percent. JPMorgan Chase & Co. lost more than 4 percent, the biggest drop among the 30 stocks in the Dow Jones Industrial average. Stocks opened higher Monday but quickly turned… Continue Reading US stocks drop; Citi and other big banks fall hard

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The largest U.S. banks will be required to show regulators how they would break up and sell off their assets if they are in danger of failing. The Federal Deposit Insurance Corp. voted 3-0 Tuesday to approve the rules, which were mandated under the financial overhaul passed by Congress last year. They are designed to… Continue Reading Large US banks must show how they would wind down

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A 21-year-old man suspected of five Colorado Springs bank robberies was caught Sept. 9 in Reno, Nev. Colorado Springs Police Department’s Robbery Unit received information that bank robbery fugitive, Wesley Harrison Dunmire, was picked up by Reno Police after a brief chase. Dunmire was identified by Colorado Springs police as the ring leader of a… Continue Reading Man suspected for five Colorado Springs bank robberies caught in Reno

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Banks pursue deficiencies in foreclosures

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Borrowers who thought they could walk away from a foreclosure, dust off their jackets and pick up where they left off have been surprised to find their debt continues to haunt them. That’s because banks are pursuing the balance owed on a property after foreclosure sale. Before the real estate crisis, banks rarely claimed deficiencies.… Continue Reading Banks pursue deficiencies in foreclosures

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Bank earnings are taking the focus on Wall Street. So far, the results have been mixed. Goldman Sachs Group Inc. reported Wednesday its profit dropped 53 percent in the fourth quarter due to sharp declines in its investment banking businesses. Revenue declined 10 percent. It shares dropped 3.2 percent in pre-market dealings. Bank of New… Continue Reading Investors zero in on bank earnings on Wall Street

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Citigroup earns $2.15 billion in 3rd quarter

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Citigroup says it has turned a profit for the third straight quarter as losses from failed loans declined. Net income available to common shareholders totaled $2.15 billion, or 7 cents per share. That compares to a loss of $3.24 billion, or 27 cents per share, during the same quarter last year. Analysts had predicted Citigroup… Continue Reading Citigroup earns $2.15 billion in 3rd quarter

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Why this is a good time to gobble banks

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Mergers and acquisitions in the banking world are expected to rise in the next year after a period of relative quiet brought on by the recession. And in some people’s minds, there may never be a better time to buy a bank. In a typical year, there are about five to seven bank mergers in… Continue Reading Why this is a good time to gobble banks

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