Ellen Alemany, chairman and CEO of Citizens Financial and head of RBS Americas was recognized by American Banker as the fifth most powerful woman banker on this year's list of "The 25 Most Powerful Women in Banking." She ranked No. 13 on its 2010 list. read more

SEP 30, 2011 - 8:35 am

Bloomberg Businessweek notes in a story on factoring that more small businesses are selling receivables "at a loss" as owners who can't get bank credit are tapping commercial factors despite their higher cost. read more

SEP 28, 2011 - 9:04 am

The FDIC announced its 73rd bank closure this year, pacing well behind the 157 total bank closures in 2010. Year-to-date failures for the same period last year totaled 127. read more

SEP 27, 2011 - 9:04 am

Amalgamated Bank, America's only union-owned bank, said that The Yucaipa Companies and WL Ross each has agreed to invest approximately $50 million in the bank through purchases of the bank's common stock. read more

SEP 26, 2011 - 9:04 am

Bank of America said it has hired 13 small business bankers in the greater Las Vegas area to provide guidance and counsel to local small business owners. read more

SEP 26, 2011 - 9:02 am

HP announced that Meg Whitman has been appointed president and chief executive officer replaces embattled Leo Apotheker. Whitman said in a conference call that HP would reach a decision about the fate of the PC business by the end of the year. read more

SEP 23, 2011 - 9:38 am

AB Volvo said it will implement new financial targets for the Volvo Group starting in 2012. Commenting on targets for its customer finance operations, Volvo said its existing targets of 12-14% ROE and an equity/assets ratio exceeding 8% "stand firm." read more

SEP 22, 2011 - 9:41 am

Solera Holdings announced that leasing industry veteran Thomas C. Wajnert has been elected to its board of directors. Wajnert has been a senior managing director of The Alta Group, was managing director of Fairview Advisors and is the retired CEO of AT&T Capital. read more

SEP 21, 2011 - 9:36 am

During a hearing about the acquisition of ING Direct USA by Capital One Financial, Chris Cole, SVP of the Independent Community Bankers of America, told the Federal Reserve that the association supports a moratorium on all M&As involving financial institutions with over $100 billion in assets. read more

SEP 21, 2011 - 9:02 am

The Economic Times is reporting that Bank of America is considering the option of filing bankruptcy for its Countrywide Financial unit if mortgage litigation threatens the financial stability of the parent. read more

SEP 19, 2011 - 9:41 am

The New York Times reports that General Electric will repay $3 billion plus a $300 million bonus that Warren Buffett's Berkshire Hathaway invested in the company during the financial crisis. read more

SEP 14, 2011 - 9:36 am

The FDIC approved a final rule that requires bank holding companies with assets of $50 billion or more to report periodically to the regulators the company's plan for its rapid and orderly resolution in the event of material financial distress or failure. read more

SEP 14, 2011 - 9:32 am

In a statement following a presentation at an investor conference, Bank of America said it plans to eliminate approximately 30,000 jobs as part of a strategy to save $5 billion per year by 2014. read more

SEP 13, 2011 - 9:38 am

Bloomberg reported that Bank of America, the biggest U.S. lender by assets, will likely lose that distinction as chief executive Brian T. Moynihan partly dismantles the money-losing empire built by his predecessor. read more

SEP 12, 2011 - 9:40 am

Bank of America announced a reorganization that aligns the company's operating units with its three core customer groups. David Darnell and Tom Montag have been appointed to the newly created positions of co-chief operating officers. BofA said Joe Price and Sallie Krawcheck will leave the company. read more

SEP 7, 2011 - 9:24 am