Before they were a convenience accessible on almost every street corner, ATMs were a way for gamblers and prostitutes to get cash without having to deal with the embarrassment of facing a bank teller in person, according to Howard Bank’s official blog. ATMs have been around for almost 50 years. In 1967, the first ATM […]
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NEW YORK — It’s tough being a big bank these days. Morgan Stanley, the storied investment house, reported Thursday that its revenue was down sharply for April through June and its profit missed Wall Street expectations. Its stock was clobbered — down more than 5 percent. The report capped a dismal season for the banking […]
NEW YORK — Bank of America Corp. and Barclays Bank PLC are selling their stake in the apartment building owner Archstone to Lehman Brothers Holdings Inc.’s bankruptcy estate for $1.58 billion. The transaction disclosed Friday for the banks’ 26.5 percent interest will give Lehman’s estate full ownership of Archstone, an Englewood, Colo.-based company that owned […]
WASHINGTON — A surprise $2 billion trading loss by a division of JPMorgan Chase triggered calls Friday for tougher regulation of banks three years after their near-death experience in the financial crisis. Stock in the bank, the largest in the United States, lost 8 percent of its value in minutes on Wall Street, and other […]
NEW YORK — With the possible theft of millions of consumer email addresses from an advertising company, several large companies have started warning customers to expect fraudulent emails that try to coax account login information from them. A dozen companies said over the weekend that hackers may have learned their email addresses because of a […]
WASHINGTON — The Federal Reserve on Wednesday revealed details of trillions of dollars in emergency aid it provided to U.S. and foreign banks during the financial crisis. Newly released documents show that the most loan money over time went to Citigroup ($2.2 trillion), followed by Merrill Lynch ($2.1 trillion), Morgan Stanley ($2 trillion), Bank of […]