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Grand Bank & Trust turns red in Q4
The usually profitable Grand Bank & Trust of Florida flipped to a loss in the fourth quarter as it took greater charges due to problem loans.
Bizjournals.com

Red Ink for Wells, Wachovia
Wells Fargo posted a surprise $2.55 billion loss as it added $5.6 billion to its reserves to cover future loan losses and prepared to absorb Wachovia.
WSJ.com

If Money Is Cheap, Why Can`t I Get A Loan?
Even after the banks have been given more than half-a-trillion dollars in bailout funds, the Fed said Wednesday that credit conditions 'remain extremely tight,' reports Anthony Mason.
CBS News

Death knell sounds for rip-off loan insurance
Payment protection insurance (PPI) will no longer be allowed to be sold alongside credit agreements, the Competition Commission said today
co.uk

HDIL in talks to restructure Rs 1,275-crore loans
Mumbai-based real estate firm housing Development and Infrastructure (HDIL) said it was in talks with banks to restructure as much as Rs 1,275 crore worth of loans.
Business Standard

Kiwibank and Westpac cut mortgage rates after OCR slashed to 3.5%
Kiwibank and Westpac have slashed their home loan rates following the Reserve Bank's drop in the Official Cash Rate. The Reserve Bank lowered the OCR by 150 basis points to 3.5% on Thursday, with R...
Big News Network

Wells Fargo hurt by Madoff fallout
Wells Fargo emerges as a surprise victim of the Bernard Madoff scandal, revealing a $294m loss caused by clients who defaulted on loans from the San Francisco-based bank after losing money in the alleged fraud
FT.com

BofA vows to track and report loans
Bank of america chief executive officer Ken Lewis and top Democrats in Washington are in agreement on one point: Americans need to know what their banks are doing with taxpayer funds.
CNN

Wells Fargo lost $2.83 billion in 4th quarter
Wells Fargo & Co. reported a $2.83 billion loss in the fourth quarter today, revealing signs of strain as the San Francisco banking giant digests Wachovia Corp.'s enormous book of toxic loans and grapples with a worsening economy. Still, the numbers were...
San Francisco Chronicle

BofA vows to track and report loan activity
Bank of america chief executive officer Ken Lewis and top Democrats in Washington are in agreement on one point: Americans need to know what their banks are doing with taxpayer funds.
CNN Money

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