California-based Green Dot Corp. intends to buy GE Capital's Wal-Mart branded prepaid debit cards. The deal will bring in over USD276 million in total deposits to Green Dot's bank in Utah.
Tags: US Federal Reserve
Stanley Fischer as Fed vice chair is financial markets' gain - report
A report by former investment banker and Wall Street observer Robert Lenzner highlighted the points why financial markets should welcome the appointment of a conservative and experienced economist like Stanley Fischer a vice chair of the US Federal Reserve.
Volcker rule scrutinizes proprietary trading businesses
Major banks on Wall Street are extremely anxious about the threat of the final deliberations of the Volcker rule, of which its provisions regarding the definition and exemption of market-making is set to be deliberated soon.
Bets by hedge funds are bullish since 2007 - report
Recent data by the US Commodity Futures Trading Commission indicated that hedge funds are the least bullish about their bets in gold despite strong US economic data.
US Fed policy only enriches private equity and not companies, American people - report
A report cited an example on how private equity had benefited greatly from US Federal Reserve's quantitative easing policy instead of the monetary policy's true beneficiaries - US companies and the American people.
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Economic data obtained by International Business Times revealed that the USD80 billion bond-buying program of the US Federal Reserve had only benefited those who can afford to hold on to their investments.
As the value of the Bitcoin reached a landmark USD700 valuation, The US Senate committee held a hearing with experts, lobbyists and federal regulators to discuss about the potential threats, risks and benefits of virtual currency.
The securities drop indicated investors' anxiety as they watch out for signs regarding the future US Federal Reserve's bond-buying program from some of its officials next week.
A Reuters report said a change in the US Federal Reserve's bond-buying program might come out from its officials as several of them, including vice chair Janet Yellen, would have speaking engagements next week.
Although US Federal Reserve Vice Chair Janet Yellen would be getting a backlash in the Senate due to her employer's bond-buying program, Louisiana Republican David Vitter was confident Yellen would replace Fed Chairman Ben Bernanke.
The Labor Department of the US released data indicating that consumer prices had slightly rose, but did not affect inflation in the US.
The US Federal Reserve would be making changes in its asset-buying program should a significant shift in the labor market and inflation would be seen.
Several banks required to undergo Fed Reserve stress tests to determine capacity of capital cushions on hypothetical adverse conditions.
Analysts who were quoted at Reuters anticipated the effects stemming from the US Federal Reserve's moves after the government shutdown.
