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U.S. Bank CEO Rips TARP
Posted on February 17th, 2009 No commentsSpeaking to an audience of 300 business people in Minneapolis, U.S. Bancorp Chief Executive Richard Davis said the U.S. Treasury’s Troubled Asset Relief Program was well intended but has turned out to be “lousy,” the St. Paul Pioneer Press reported. U.S. Bancorp received $6.6 billion. Read the article.
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Turnaround Practice Launched
Posted on February 17th, 2009 No commentsAnderson Roethle Inc., a Milwaukee-based mergers and acquisitions and valuations firm, has launched a consulting practice based on crisis and turnaround consulting. The new division was launched both because of current economic conditions and requests from contacts in the financial services sector, said company President Stanley Johnson in the Small Business Times.
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Online Banking Usage Up
Posted on February 17th, 2009 No commentsU.S. consumers are paying more attention to their finances and using online banking services more frequently during the current global financial crisis, according to a newly commissioned study conducted by Forrester Consulting on behalf of Fiserv, a Brookfield-based provider of information technology services to the financial industry. Read the Small Business Times article.
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More Banks Halt Foreclosures
Posted on February 17th, 2009 No commentsPNC Financial Services Group Inc., the parent of National City Bank, has placed a moratorium on new and pending mortgage foreclosures on mortgage loans owned and serviced by PNC and National City Mortgage. PNC joins large banks such as Wells Fargo, Chase and Bank of America, which also recently announced moratoriums on mortgage loans, The Business Journal of Milwaukee reported.