Big banks have been drawing heat this year. Some is focused, such as the clamor over monthly debit card fees being proposed or tested by several national banks. Some is diffused, such as that from the apparently leaderless Occupy Wall Street movement and its nationwide imitators.
Real estate sales and values have plummeted 40 percent the past few years, but the commercial retail market is buzzing with hungry buyers hunting both bargains and gems.
Hedge funds are back. Worries about European debt crisis, war in the Middle East and the potential for rating agencies to downgrade America’s treasuries have rattled shareholders. But those fears haven’t held back investors from pouring record amounts of capital into the cowboy country of largely unregulated, nontransparent funds.
Former California State Treasurer Phil Angelides was tapped in 2009 to chair the Financial Crisis Inquiry Commission, a 10-member commission that Congress tasked with determining the causes of the Great Recession.
Some banks in the Capital Region are placing more emphasis on customer service and trust as they battle for quality clients in an ever-changing market.
Like other businesses, The Golden 1 Credit Union has absorbed its share of economic blows since 2008. But the largest credit union in California has long prided its fiscally conservative approach to finance.
In the Capital Region and beyond, some customers are switching from large financial institutions to smaller community banks, partially in response to columnist Arianna Huffington’s December 2009 “Move your Money” campaign, which encouraged consumers to do just that.
If lawmakers follow through on pending legislation in Washington, it could mean a boost for business for Capital Region credit unions.
As the economy continues to struggle, finance and banking lawyers across the country are seeing an increase in commercial loan workouts, which range from simple loan modifications to complicated bankruptcies.
A serendipitous land purchase in Auburn is breathing life into a town property hard-hit by the economy.