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Jul 20, 2014

Banco Espírito Santo Reassures Retail Clients

Portuguese lender Banco Espírito Santo confirmed it will reimburse retail clients who invested in commercial paper issued by its main holding company, which filed for creditor protection...

Jul 23, 2014

CIT Group to buy Pasadena lender OneWest Bank

Pasadena's OneWest Bank, which rose from the ashes of failed high-risk home lender IndyMac Bank, agreed to be bought by commercial lender CIT Group Inc. in a $3.4-billion deal that would create the biggest bank based in Southern California... #California #Pasadena #CIT GROUP INC #OneWest

Jul 23, 2014

Deutsche Bank Finance Chief Faces Heat

Deutsche Bank Chief Financial Officer Stefan Krause is under pressure after U.S. authorities cited serious concerns about the German lender's financial data... #California #Pasadena #CIT GROUP INC #OneWest

Jul 22, 2014

Lender CIT to buy OneWest Bank, formerly IndyMac, for $3.4 billion

OneWest Bank in Pasadena, born from the ashes of failed high-risk home lender IndyMac Bank, has agreed to be acquired by commercial lender CIT Group for $3.4 billion, a hugely profitable deal for the hedge-fund and private-equity investors that have ... #Pasadena #CIT GROUP INC #OneWest

Jul 23, 2014

AvantCredit Raises Financing to Lend to ‘Midprime’ Borrowers

The online lender has raised a $75 million round of equity financing led by Tiger Global Management, as well as a $200 million credit facility led by Victory Park Capital... #Pasadena #CIT GROUP INC #OneWest

Jul 21, 2014

Swiss Bank Julius Baer to Buy Businesses from Bank Leumi

Julius Baer said its assets under management had risen and that it was acquiring the Israeli lender Bank Leumi's private banking activities in Switzerland and Luxembourg... #Switzerland #Luxembourg

Jul 16, 2014

Bank of America earnings tumble 43% on mortgage litigation costs

Bank of America Corp.'s second-quarter earnings plunged 43% as the nation's second-largest bank recorded 4 billion additional reasons to regret its 2008 purchase of high-risk home lender Countrywide Financial Corp. in Calabasas... #Switzerland #Luxembourg

Jul 17, 2014

Freddie Mac: Mortgage rates level off, 30-year loans average 4.12%

The cost of getting a mortgage has leveled off, with Freddie Mac saying lenders were offering 30-year fixed-rate home loans this week at an average interest rate of 4.12%. That rate is little changed from the average of 4.15% over the last 10 weeks... #Switzerland #Luxembourg

Jul 16, 2014

Peer-to-peer lender Funding Circle scores a $65 million investment as it pushes deeper into U.S.

Fast growing alternative small business lender Funding Circle has scored a $65 million investment. The U.K.-based peer-to-peer lender entered the U.S. market last year when it acquired San Francisco-based Endurance Lending Network... #Switzerland #Luxembourg

Jul 10, 2014

Wells Fargo profit rises 3.8% as home lending regains some traction

No. 1 mortgage lender Wells Fargo & Co. kicked off the bank earnings season with a 3.8% increase in profit in a report that sent modestly positive signals about Main Street lending and the housing market... #Switzerland #Luxembourg