Wednesday, March 7, 2012

Wave of mergers could be forthcoming

Welcome to the morning roundup. Here's a look at what's news in banking and finance this morning.

Mergers. After one of the slowest M&A years in recent memory, banking industry experts speculate that mergers could become more prevalent in the coming months, Reuters reports. That would be a boon to investment bankers and consultants.

Layoffs. Bank of America is laying off 62 in Jacksonville, Fla., as the bank exits its Client Research and Resolutions Services division there and in San Francisco, according to the Daily Record. Work is being moved to Utica, N.Y., Dallas and Los Angeles.

Payday loans. Consumer groups are calling on banks like Wells Fargo and Fifth Third to stop offering products that resemble payday loans, which offer short-term cash with high interest rates, CNN reports. The groups consider the loans predatory.

Android app. Bank of America has released a new Android app customized for the tablet, reports.

Cash. Ever wonder where Bank of America gets its cash? The Motley Fool explains in a video.


Dolley said...

Ever wonder why Banks continue to screw over homeowners - including our service men and women - and yet get away with it?