Bank of America to buy $2.6 billion in GE shares

Bank of Ameritrade says it will buy $1.9 billion in stock from GE in a deal that could be worth $2 billion to $2,000 per share.The deal is part of a larger GE buying spree that could include a stake in the bank’s new chip-maker, according to Recode.The bank says the deal will value GE’s […]

Bank of Hawaii to close Hawaii branch for $1 million over account fraud

Hawaii will close its Bank of Hawaiian branch after a $1.9 million account fraud scandal erupted over the weekend, according to the Hawaii Attorney General’s office.Hawaii Gov.Neil Abercrombie announced the closure Monday afternoon, a day after a criminal investigation revealed the Bank of Hawai’i opened unauthorized accounts for people with credit card and debit card […]

Why does it matter what the world bank is called?

A bunch of reddit users are trying to figure out why it matters whether or not a company’s name is a full-fledged international bank, even though it is technically headquartered in their own country.In this case, it all comes down to the fact that the world’s major banks are based in the United States, where […]

When the FBI wants you to close your bank account, what do you do?

The FBI has asked banks to close their customer accounts.The bureau says it wants banks to stop accepting deposits, withdraw money and pay customers for money lost in the financial crisis.But what if you need your money?You’re in the clear.Here’s what you need to know about closing your bank accounts.The bank’s chief compliance officer said […]

When your bank is on a 24-hour bank-hours stand-still

A bank in suburban Chicago has decided to be on a bank-hour stand-by during its normal banking hours.The Compass Bank in Westmont is holding an 8:30am-10:30pm business hours on Thursday and Friday to help make sure it can process customers’ withdrawals on time and in a timely manner, said CEO Brian R. Johnson.He said the […]

Heartland Bank says it will not be reopening bank of texAS

Heartland Capital is announcing that it will stop accepting new customers after the U.S. Federal Reserve decided to halt its purchases of mortgage-backed securities, according to a person familiar with the matter.The bank announced the decision Wednesday, just before the U-turn in a note to customers.The announcement was first reported by Bloomberg News.Heartland said it […]

Which banks have the biggest exposure to outside investors?

With the Federal Reserve’s decision to hike interest rates on Thursday, the focus will be on the size of those outside investors, which are often small or non-existent.One of the most interesting developments from the move to hike rates is the potential for more non-financial companies to gain exposure to the U.S. economy, said Chris […]

‘A real world test’ for ‘the bank of the sea’

The banks of the South Pacific are the only places where people still make their homes on land.But, in an era when climate change is affecting all of us, they are the first bank of sea that could prove to be a real test for the banks of sea.Here’s what it will take to get […]

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