Chase is focus of area protest groups 
By Todd Etshman
POSTED: May 21, 2012
Tags: Band of Rebels, Chase Bank, protesters
Chase Bank at Chase Square in downtown Rochester was the sight of a Band of Rebels protest on Monday around noon. Band of Rebels members spread out over the four corners of the intersection of Clinton and Main streets to protest Chase policies they believe harm consumers such as holding the largest derivatives exposure of [...]
Mueller confirms probe of JPMorgan
By The Associated Press
POSTED: May 16, 2012
Tags: FBI, JPMorgan, probe
WASHINGTON — FBI Director Robert Mueller says the bureau has launched a preliminary investigation of JPMorgan Chase & Co. following a $2 billion trading loss at the bank. Mueller’s comment Wednesday at a Senate Judiciary Committee hearing was the first on-the-record confirmation of the probe. On Tuesday, a law enforcement official said that the FBI’s [...]
Five Star Bank announces executive retirement
By Daily Record Staff
POSTED: May 10, 2012
Tags: executive retirement, Five Star Bank
During its annual shareholder meeting this week, Five Star Bank announced the retirement of George “Dan” Hagi, executive vice president and chief risk officer, effective June 30. Hagi has six years of service with the company. Replacing Hagi will be Kenneth V. Winn, senior vice president and senior credit and compliance administrator, effective July 1. [...]
Rate on 30-year mortgage hits record 3.83 percent
By The Associated Press
POSTED: May 10, 2012
Tags: 30-year mortgage, record low rates
WASHINGTON — Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Cheap mortgage rates have made home-buying and refinancing more affordable than ever for those who can qualify. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 percent. That’s the [...]
Northwest Savings rated high for customer service
By Daily Record Staff
POSTED: May 4, 2012
Tags: customer satisfaction, J.D. Power and Associates, Northwest Savings Bank
For the third consecutive year, Northwest Savings Bank ranks highest in customer satisfaction in the Mid-Atlantic Region, according to the J.D. Power and Associates 2012 Retail Banking Customer Satisfaction Study. The study, conducted in January, analyzes the overall satisfaction customers have with their retail banking experience based on account activities, account information, facility, fees, problem [...]
Bank of America bad-loan provisions at 2007 level
By The Associated Press
POSTED: April 19, 2012
Tags: bad-loan provisions, Bank of America
NEW YORK — Bank of America said Thursday that it set aside less money to cover bad loans in the first three months of the year than it has since before the 2008 financial crisis. The bank said it earned $653 million in the first quarter, or 3 cents per share. That included an accounting [...]
American Jim Yong Kim chosen to lead World Bank
By The Associated Press
POSTED: April 16, 2012
Tags: Jim Yong Kim, World Bank
WASHINGTON — Jim Yong Kim, an American who is president of Dartmouth College, has been chosen to be the next president of the World Bank. His selection extends the U.S. hold on the top job at the 187-nation development agency. Kim, a surprise nominee of President Barack Obama, was selected Monday in a vote by [...]
M&T Bank 1st-quarter net income dips
By The Associated Press
POSTED: April 16, 2012
Tags: first-quarter profit, M&T Bank
BUFFALO — M&T Bank Corp. said Monday that its first-quarter profit dipped from results a year ago that were fortified by proceeds from an investment securities sale. The financial holding company reported net income available to common shareholders of $188.2 million, or $1.50 per share, for the three months ended March 31. That was down [...]
Citizens Bank offering scholarships
By Daily Record Staff
POSTED: March 30, 2012
Tags: Citizens Bank, scholarships
The application period for Citizens Bank’s annual TruFit Good Citizen Scholarship program begins Sunday. The deadline to apply is April 30. Citizens launched the scholarship program last year, awarding $50,000 to college students whose volunteer efforts have made a difference in their communities. This year, 40 scholarships, totaling $50,000, will be awarded to [...]
Second Circuit ruling gives SEC-Citigroup deal new life
By The Associated Press
POSTED: March 15, 2012
Tags: Citigroup, SEC ruling, u.s. court of appeals for the second circuit
NEW YORK — The U.S. Court of Appeals for the Second Circuit said Thursday that a judge likely overstepped his authority when he blocked a $285 million settlement over toxic mortgage securities after concluding that it was bad policy for a regulatory agency to accept a deal that does not include an admission of liability [...]
Citibank, 3 others fail Fed stress test; 15 pass
By The Associated Press
POSTED: March 13, 2012
Tags: Banks, Citibank, Federal Reserve, stress test
WASHINGTON — Four major U.S. banks failed to show they have enough capital to survive another serious downturn, the Federal Reserve said Tuesday. The list included Citigroup, the nation’s third-largest bank. The Fed said 15 of the19 major banks tested passed. The Fed noted that all 19 banks are in a much stronger position than [...]
Freddie asks for just $146M in aid after better 4Q
By The Associated Press
POSTED: March 11, 2012
Tags: aid, Freddie Mac, mortgage
WASHINGTON — Government-controlled mortgage giant Freddie Mac has requested just $146 million in additional aid after posting a smaller loss in the fourth quarter. That’s far less than in the third quarter, when Freddie received $6 billion from the government. It received $7.6 billion for all of 2011. Freddie Mac said Thursday that it lost [...]
