The Fed’s latest Beige Book report confirms what earlier economic data has indicated. Eight of the 12 regional Fed banks, including San Francisco and Chicago, reported some form of growth in the September/October period. But no…
General Electric unit GE Capital announced Tuesday that it had acquired the retail finance portfolios from Citigroup’s Retail Partner Cards. Financial terms of the deal were not disclosed, but GE Capital expects it will immedia…
Mortgage applications fell 1.4% in the week ending Sept. 17, dragged down by a decline in the number of applications for loans to purchase houses.
Applications for loans to purchase a home dropped 3.3% from a week earlier on a seasonally adjusted basis, The Mortgage Bankers Association said. Applications for loans to refinance a home dropped 0.9%.
The four-week moving average for…
Continue reading Mortgage Applications Drop 1.4%
Mortgage Applications Drop 1.4% originally appeared on DailyFinance on Wed, 22 Sep 2010 08:48:00.
Filed Under: Economy, People, Investing, Real Estate, Credit
Bank of America (BAC) is reportedly laying off as many as 400 people as revenue from trading and advising clients falls.
Bank of America, the country’s largest bank by assets, is laying off people ranging from junior analysts to managing directors, Bloomberg News said without naming its sources.
“This sounds like an acceleration of the usual year-end cutbacks among the lowest…
Continue reading Bank of America Reportedly Planning Layoffs
Bank of America Reportedly Planning Layoffs originally appeared on DailyFinance on Tue, 21 Sep 2010 07:02:00.
Filed Under: Company News, People, Investing, Bank of America, Credit
Citigroup (C) plans to sell its student-lending unit Student Loan Corp. to a consortium including Sallie Mae as early as today, The New York Post reported.
Citigroup owns 80% of the company, with another 20% being publicly traded. It is the country’s second-largest student lender, after Sallie Mae.
The deal could see Sallie Mae and another company offer as much as $600 million to…
Continue reading Citigroup May Sell Student Loan Corp. to Sallie Mae Consortium
Citigroup May Sell Student Loan Corp. to Sallie Mae Consortium originally appeared on DailyFinance on Fri, 17 Sep 2010 08:45:00.
Filed Under: Company News, Economy, Investing, Citigroup, Taxes, Credit