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Chase drops arbitration from card contracts

BOSTON (AP) -- JPMorgan Chase & Co. said Friday it is dropping a clause from its credit card contracts that required disputes with customers to be handled through binding arbitration, a move that could lead to consumers filing class-action and other ...

From MARK JEWELL, Buffalo News,  20 Nov 2009

Related Topics: J.P. Morgan Chase & Co.,  Bank of America,  Barack Obama

American Express to buy Revolution Money for $300M

BOSTON American Express Co. is buying Revolution Money for about $300 million to keep up with trends in electronic payments, where new security features and online transaction options are shaking up traditional models. Wednesday's deal pairs American ...

From MARK JEWELL, San Diego Union-Tribune,  18 Nov 2009

Related Topics: Kenneth Chenault,  America Online,  Steve Case,  FDIC

SEC staff targets Beazer Homes CEO over bonus pay

BOSTON - Federal regulators may try to collect bonus money awarded to the top executive of Beazer Homes USA Inc. ...

From MARK JEWELL, Atlanta Journal Constitution Vendor,  16 Nov 2009

Related Topics: Securities and Exchange Commission,  Beazer Homes USA, Inc.,  Enron Corporation

Stock volatility is back, a sign of an aging bull?

Stock market volatility is back, a signal to some experts that the powerful rally that started in early March may be coming to an end. The Dow Jones industrial average rose or fell more than 100 points in seven of the past 12 trading days, capped by ...

From MARK JEWELL, San Diego Union-Tribune,  8 Nov 2009

Related Topics: Dow Jones,  Morningstar, Inc.,  BlackRock, Inc.

Supreme Court wades into mutual fund fee disparity

BOSTON - The U.S. Supreme Court is taking a close look at a question individual investors have long asked about their mutual funds, but the courts have largely ignored: Why am I getting charged twice as much as big institutional clients? ...

From MARK JEWELL, Atlanta Journal Constitution Vendor,  5 Nov 2009

Related Topics: Supreme Court of the United States,  Stephen Breyer,  John Roberts,  Antonin Scalia,  Investment Company Institute

Galleon Group to shut down hedge funds

A hedge fund company whose manager is criminally charged in an insider trading case told clients Wednesday it's shutting down its funds. A letter obtained by The Associated Press said Galleon Group LLP plans "an orderly wind down" of its funds ...

From MARK JEWELL, eTaiwan News,  21 Oct 2009

Related Topics: Galleon Group,  Raj Rajaratnam,  Google Inc.,  Forbes Magazine,  Securities and Exchange Commission

PlainsCapital set for first US bank IPO in 2 years

BOSTON - Plenty of publicly traded banks have issued more stock this year to raise cash and bolster balance sheets damaged in the credit crunch. ...

From MARK JEWELL, Atlanta Journal Constitution Vendor,  21 Oct 2009

Related Topics: J.P. Morgan Chase & Co.,  New York Stock Exchange,  United States Department of the Treasury

Sallie Mae posts profit as credit market improves

SLM Corp. said Tuesday it expects improving credit quality to continue to boost earnings, and its shares jumped nearly 8 percent in after-hours trading. Sallie Mae said it has benefited from stabilized credit markets, including commercial paper, a ...

From MARK JEWELL, San Francisco Chronicle,  20 Oct 2009

Related Topics: SLM Corporation,  Thomson Reuters

Investors ignore fund fees in advertisements, study shows, and chase returns

A study by university researchers suggests the adage about horses not drinking even if you lead them to water is also true of mutual fund investors. The authors’ conclusion: A two-year-old industry rule requiring disclosure of crucial fund expense ...

From MARK JEWELL, Boston Globe,  8 Oct 2009

Related Topics: Financial Industry Regulatory Authority,  Fidelity Investments

Study: Investors ignore fund costs, at their peril

The authors' conclusion: A two-year-old industry rule requiring disclosure of crucial fund expense information in advertisements isn't likely to lead to wiser cost-conscious investment selections. Nearly three-dozen study participants who viewed sample ...

From MARK JEWELL, San Francisco Chronicle,  6 Oct 2009

Related Topics: Financial Industry Regulatory Authority,  Securities and Exchange Commission,  Fidelity Investments,  Investment Company Institute

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