Wachovia Corp.

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banking and wachovia corp. - All News and Analysis

• BofA, Wachovia Cut Prime: Impact On Lending Unclear

  BNET - 2008-10-08

  It's going to take more than a mere interest rate cut to raise the banking industry's comfort level. In reaction to an unprecedented interest-rate cut by six central banks throughout the world, major U.S.-based commercial banks today began lowering their prime lending rate, a benchmark that lenders typically charge their best...

  Tags: Bank, Bank Of America Corp., Interest Rate, Wachovia Corp., Banking, Financial Services, Robert Reed

• Wells Power Play Puts Citigroup, FDIC On Defense

  BNET - 2008-10-03

  Which do you prefer -- a bank merger requiring government assistance or one that does not? That's the big question revolving around today's surprise announcement that Wells Fargo has entered a deal to acquire Wachovia for nearly $15 billion in stock. This agreement seeks to supplant Citigroup's previously announced deal to...

  Tags: Bank, FDIC, Wells Fargo & Co., Wachovia Corp., Citigroup Inc., Financial Services, Banking, Robert Reed

• With Bailout In Sight, Big Private Investors Back Banks

  BNET - 2008-09-29

  While the proposed $700 billion, taxpayer-backed rescue of the economy is grabbing the nation's undivided attention,  private investors are pouring billions into the U.S. financial system and backing banking groups poised to survive the current crisis. Right now, an estimated $40 billion in outside money is being pumped into some of the country's biggest banking concerns....

  Tags: Asset, Bank, Financial, J.P. Morgan Chase & Co., Financial System, Wachovia Corp., Warren Buffett, Investor, Citigroup Inc., Morgan Stanley, Asset Management, Banking, Financial Accounting, Operational Planning, Business Operations, Financial Services, Finance, Robert Reed

• US banks set to offer fresh apologies as losses rack up

  - 2008-04-14

  NEW YORK AFP — Some of America's biggest banks are due to release their latest earnings this week, but investors are likely to be disappointed as many banks are expected to announce fresh losses. Wachovia bank set the tone Monday, as it revealed a first quarter loss of 350...

  Tags: analyst, bank, banking, Citigroup Inc., earnings, FINANCE, financial, Merrill Lynch & Co. Inc., Wachovia Corp.

• Banking "On The Economy"

  - 2008-03-01

  Citizens and businesses in New Jersey and all over the Unites States are experiencing a maelstrom of negative economic news and events that, each day, bring the country closer to the brink of a recession some economists argue that we are already in one. The subprime lending fallout continues to...

  Tags: bank, banking, Federal Reserve Board, FINANCE, inflation, Wachovia Corp.

• Wachovia: Banking On New Jersey

  - 2007-12-01

  Some people believe customer satisfaction is best at small community banks. However, at Wachovia, one of the largest banks in the United States (with 344 financial centers in New Jersey), its Garden State regional presidents strongly disagree with that notion. Wachovia's spokesperson even quips, "If before I leave this world...

  Tags: banking, Wachovia Corp.

• Wachovia Bankers Tap Broker Clients.

  - 2007-03-01

  In an interesting twist on the usual retail bank/brokerage relationship, Wachovia Securities says its recent hiring of a MetLife executive is part of an initiative to better sell the parent bank's credit, deposit and lending services to investment In an interesting twist on...

  Tags: bank, banking, security, Wachovia Corp.

• The vertical-integration strategy: as we enter 2007, the industry comes off a year that saw Wall Street dive ever more deeply into the harvesting of profits from the mortgage sector. This article sums up all the major deals, as well as the factors driving

  - 2007-02-01

  In 1997, a group of bankers from New York-based Lehman Brothers Inc.'s mortgage trading desk landed at the small airport in Scottsbluff, Nebraska, and drove past the cornfields and sugar-beet processing plant en route to a former truck terminal converted to a mortgage servicing call center. The company they were...

  Tags: acquisition, bank, banking, Bear Stearns & Co. Inc., California, FINANCE, Investment, Lehman Brothers Inc., mortgage, Mortgages, REIT, strategy, Wachovia Corp.

• N.C. companies hoist sales for inner and outer banks.(BANKING)

  - 2007-02-01

  North Carolina's two largest banks went shopping last year, but their sexiest deals weren't for full-service banks like themselves. In October, Charlotte-based Wachovia paid $25.5 billion for Oakland, Calif.-based Golden West, a savings bank that spe North Carolina's two largest banks went shopping last year, ...

  Tags: bank, banking, sales, Wachovia Corp.

• Banks with local branches get top honors from magazine

  - 2006-08-07

  Consumer Reports readers gave Cherry Hill-based Commerce Bancorp and Wachovia Corp. of Charlotte, N.C., top honors for customer satisfaction among 19 large U.S. banks in a poll of 11,000 subscribers of the nonprofit consumer testing magazine. "Our readers gave Commerce high marks," and the survey's highest overall score of...

  Tags: bank, Banking, Consumer Reports, E-business/E-commerce, INTERNET, MARKETING, Wachovia Corp.