For his “Executive Decision” segment, Cramer sat down with Doug Lebda, founder, chairman and CEO of LendingTree , a stock that’s up 17% for the year after the company reported blowout earnings two weeks ago. Lebda first responded to questions about his company’s very successful stock buyback program by saying that it was a smart decision at a smart time and he remains committed to his shareholders.
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TCPA Petition Could Cause Multiple Industries to Break Laws, Trade Groups Find
ETA: Meghan M. Cieslak mcieslak@electran.org Washington, D.C. – The American Financial Services Association, the Consumer Bankers Association, the Credit Union National Association, the Financial Services Roundtable, National Association of Federally-Insured Credit Unions, and the Electronic Transactions Association today sent a joint letter to the Federal Communications Commission regarding the Petition for Rulemaking and Declaratory Ruling regarding prior express consent under the Telephone Consumer Protection Act . In the letter, the trade groups request a denial of the petition and lay out seven reasons why it would prove harmful in today’s economy.
UBS Bonus Pool Drops 17%, Restates Earnings on NCUA Settlement
UBS Group AG reduced its 2016 bonus pool and lowered Chief Executive Officer Sergio Ermotti’s pay in a year where profit plunged. The bank restated net income for the year to reflect an agreement in principle to settle a legal case.
Military-Grade Tech to Monitor Eggplants Rather Than Explosives
On a rooftop in the Jewish-Arab Tel Aviv neighborhood of Jaffa, a former military technologist and an ex-journalist sit in a transparent bio-dome where their robot is busy learning how to grow food. Flux IoT’s Eddy, a robot measuring less than a foot tall and resembling a life buoy, is built with military-grade sensors and armed with image-processing technology.
China Said to Plan Stricter Bank Capital Rules to Curb Risks
China’s central bank plans to apply a stricter method for assessing banks’ capital as part of efforts to contain financial-sector risks, people with knowledge of the matter said. Under the proposed change to the so-called Macro Prudential Assessment framework, the People’s Bank of China will remove an intermediary category in its evaluation of banks’ capital adequacy, the people said, asking not to be identified because the matter is private.
China Said to Plan Stricter Bank Capital Rules to Contain Risks
China’s central bank plans to apply a stricter method for assessing banks’ capital as part of efforts to contain financial-sector risks, people with knowledge of the matter said. Under the proposed change to the so-called Macro Prudential Assessment framework, the People’s Bank of China will remove an intermediary category in its evaluation of banks’ capital adequacy, the people said, asking not to be identified because the matter is private.
Needs vs. Wants: How to Distinguish and Budget for Both
Do you need that new jacket, or do you just want it really badly? Sure, you could say outerwear is essential for keeping warm in cold climates, but it’s much harder to argue that it needs to be a luxurious leather coat. Some things you need, and some you just want.
Mortgage Rates Wednesday, March 8: 14-Week High;…
Thirty-year and 15-year fixed rates, as well as 5/1 ARM rates, all moved higher today, according to a NerdWallet survey of current mortgage rates published by national lenders Wednesday morning. The Federal Reserve will announce its decision on raising short-term interest rates in one week.
Rates on US Treasury bills rise to highest level in 8 years
Interest rates on short-term Treasury bills rose in Monday’s auction to their highest levels in more than eight years. The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.745 percent, up from 0.515 percent last week.
If Your Property Tax Is Sky-High, Challenge It. Here’s How
Fight city hall on unfair property taxes. Here are proven ways to reduce your annual bill by challenging an excessive assessment.
How to determine whether ita s best to prepay the mortgage or build up cash reserves
In your columns, you often take the position that homeowners are best off prepaying their mortgage. I understand where you are coming from and admit that I used to counsel my clients the same way.
Chancellor’s challenge
A funny thing about confidence is that some people have it but shouldn’t, while others should but don’t. It’s true more than ever when it comes to the confidence to spend money.
Deutsche Bank Board to Meet on $8.5 Billion Capital Raise
Deutsche Bank AG’s supervisory board will meet Sunday to discuss a plan to raise more than 8 billion euros as Chief Executive Officer John Cryan tackles concerns about capital levels, a person familiar with the matter said. story that said the lender is planning an equity offering and the sale of part of its asset management unit after failing to find a buyer for its Postbank consumer business, which had been a key pillar of Cryan’s strategy.
Action Alerts PLUS: Markets Stage Late Retreat
This commentary was excerpted from the Weekly Roundup sent to subscribers of Action Alerts PLUS , a charitable trust co-managed by Jim Cramer and the AAP staff . Click here to learn about this actively traded stock portfolio.
Australia Mortgage Lending Standards in Regulator Crosshairs
Australia’s securities regulator said Thursday it is looking at mortgage lending standards across the banking sector after taking civil court proceedings against Westpac Banking Corp. The Westpac case “sends a message to the broader sector” that the Australian Securities & Investments Commission is prepared to “take anyone on,” Chairman Greg Medcraft told a parliamentary committee. ASIC yesterday announced proceedings against Westpac, the country’s second-biggest bank, over alleged failures to properly assess whether borrowers could afford their mortgages.
Could the $1.3T of College Debt Spark the Next Financial Crisis?
As President Trump addresses Congress over tax reform and defense spending in a joint session Tuesday night, one agenda that might not be covered could very well spark the next financial crisis: student loan debt default. According to the New York Federal Reserve, U.S. student loan debt has soared to $1.3 trillion becoming the second highest consumer debt category, more than both credit cards and auto loans.
Canada Banks Push Back Against Taking on More Mortgage Risk
Canada’s financial industry is urging the federal government to consider alternatives to proposals that could require them to take on a greater share of mortgage defaults through a deductible — calling it one of the biggest shakeups to hit housing finance in 50 years. “This submission has questioned whether a deductible is the most effective way to rebalance risks within the housing finance system,” the Canadian Bankers Association said in a report on Tuesday.
How Owning or Selling a Home Affects Your Taxes
Owning a home is exciting, challenging and the biggest investment of many people’s lives. It’s also a good way to reduce your tax bill.
Mortgage Rates Monday, Feb. 27: Holding Near 2017 Lows
Thirty-year and 15-year fixed rates, as well as 5/1 ARM rates, are all mostly unchanged today, according to a NerdWallet survey of current mortgage rates published by national lenders Monday morning. After retreating for five of the past six days, fixed-rate mortgages are holding close to 2017 lows.
Austerity anguish
In normal times, in a normal country, court proceedings over mortgage arrears would not be the stuff of headline news. In a soulless white concrete court building, leaders of the I Won’t Pay movement have been turning routine eviction proceedings into the frontline in a popular fight-back against austerity.
11 Ways to Get the Lowest Mortgage Refinance Rate
In the hunt for the lowest mortgage refinance rate, there are some things you can control and some you can’t. Rates moving up just when you’re about to refi? Can’t control that.
11 Ways to Get the Lowest Mortgage Refinance Rate
In the hunt for the lowest mortgage refinance rate, there are some things you can control and some you can’t. Rates moving up just when you’re about to refi? Can’t control that.
Regulatory scrutiny may put firms without adviser text messaging policies at risk
Last December, State Farm became the most recent company to settle a multimillion-dollar class action lawsuit alleging violations of the Federal Communications Commission’s Telephone Consumer Protection Act . This follows a massive settlement by Wells Fargo in the summer of 2016 for various alleged TCPA violations for its mortgage loan practices.
Brief-Waterstone Financial Quarterly Earnings Per Share $0.23
WASHINGTON, Feb 24 The new U.S. Federal Communications Commission chief will move to block broadband privacy rules, approved by the Obama administration, that subject broadband providers to stricter scrutiny than websites, a spokesman said on Friday, in a victory for internet providers like AT&T Inc, Comcast Corp and Verizon Communications Corp.
Tommy Hilfiger just listed his ‘whimsical’ Miami mansion for…
He recently listed the property for $27.5 million, a property which includes yellow polka-dot and scratch and sniff wallpaper that Hilfiger installed. If the property gets its asking price, it will become the most expensive property to sell in the Miami-area town of Golden Beach.
Housing Boom Fades in Tokyo With Glut as Chinese Sales Slow
In the Kachidoki area facing Tokyo Bay, home to the city’s hottest market given its proximity to venues for the 2020 Olympic Games, real-estate broker Hayato Jo has a wall full of notices of apartments for sale, with a 20 percent increase in the number of people looking to sell in the area in the past year. Prices in the neighborhood, which surged 25 percent since Tokyo won the Games in 2013, have started to fall from their peak.
Deutsche Bank Loses Ground in Trading as JPMorgan Thrives
Deutsche Bank’s negotiations with U.S. prosecutors last year over alleged mortgage misdeeds rattled investors, leading many of the German lender’s trading partners to defect — apparently to American rivals. Deutsche Bank , the German lender hit last year by a $7.2 billion settlement with U.S. authorities over alleged mortgage misdeeds, is losing ground to American rivals in the highly profitable arena of bond and currency trading, a new report shows.
Rate Hikes Boost Bank Deposits
Repurchase agreements, or repos, are a tool of monetary operations used by the Fed in carrying out monetary policy. In a repo, the Fed will buy securities from authorized counterparties at an agreed-upon price for an agreed-upon term.
How to Handle Your Home During Divorce
The marital home is many couples’ most valuable asset, so deciding what to do with it during divorce can be difficult. You and your soon-to-be ex have two basic options: sell the home, or one of you stays in it.
Prudential May Press Wells Fargo as Fake-Account Fallout Spreads
Prudential Financial Inc., facing regulatory scrutiny and lawsuits over a sales relationship with Wells Fargo & Co., said it may press its partner to cover costs after halting the offering — another sign the bank has yet to contain the full fallout of its bogus-account scandal. Prudential “has provided notice to Wells Fargo that it may seek indemnification,” the Newark, New Jersey-based insurer said in a Feb. 17 regulatory filing, referring to their agreement to sell MyTerm life coverage to Wells Fargo customers.
Rate Hikes Boost Bank Deposits
Repurchase agreements, or repos, are a tool of monetary operations used by the Fed in carrying out monetary policy. In a repo, the Fed will buy securities from authorized counterparties at an agreed-upon price for an agreed-upon term.
Ahead of the Bell: US home sales
The National Association of Realtors reports on January sales of existing U.S. homes Wednesday at 10 a.m. Eastern. Economists forecast sales will tick up to a seasonally adjusted 5.55 million, up from 5.49 million in December.
Cohen-backed Metro Bank Defies Brexit Uncertainty With Pledge To Double In Size
Metro Bank has defied uncertainty brought about by Britain’s vote to leave the EU and stuck to its guns on growth targets, reiterating Wednesday a pledge to double in size by 2020. The upstart lender, who counts Steve Cohen’s Point72 Asset Management as its largest shareholder, reported its second quarterly profit against a backdrop of overarching economic uncertainty and said that it has seen no significant change in customer behaviour since the U.K voted to leave the European Union in June last year.
Lloyds Swings to Fourth-Quarter Profit as It Boosts Dividend
Lloyds Banking Group Plc, Britain’s largest mortgage lender, swung to a fourth-quarter profit even as it faced more than 700 million pounds of conduct and restructuring charges. Pretax profit was 973 million pounds, compared to a loss of 507 million pounds a year earlier, the London-based bank said in a statement Wednesday, falling short of analysts’ estimates for 1.38 billion pounds.
Hedge Funds Lose Bid to Quash Fannie, Freddie Profit Grab
Hedge funds largely failed in their legal challenge to the U.S. government’s capture of billions of dollars in profits generated by Fannie Mae and Freddie Mac after their bailout, sending shares of the mortgage guarantors plunging. Perry Capital LLC, the Fairholme Funds and other big investors lost a bid to overturn a judge’s ruling that said they can’t sue the government over the dividend change.
Hedge Funds Can’t Sue Over Investments in Fannie or Freddie
A federal appeals court upheld a ruling that barred hedge funds from suing to overturn the U.S. government’s 2012 decision to capture billions of dollars in the profits generated by the mortgage guarantors Fannie Mae and Freddie Mac after their bailout, sending shares plunging. Some Fannie Mae and Freddie Mac investors still have a shot at money damages, based on when they acquired their shares and whether they did so before or after the Federal Housing Finance Agency was created and then imposed its control over Fannie Mae and Freddie Mac.
Mortgage Rates Tuesday, Feb. 21: Higher; Gap Widens in Housing…
Thirty-year fixed mortgage rates were up six basis points today, while 15-year fixed loans and 5/1 ARMs also rose slightly, according to a NerdWallet survey of current mortgage rates published by national lenders Tuesday morning.
A look inside the most expensive home for sale in America
The $250 million mansion in Bel Air, Calif., comes with every toy imaginable – including 12 rare cars and champagne from Jay Z and BeyoncA ‘s label. The $250 million mansion in Bel Air, Calif., comes with every toy imaginable – including 12 rare cars and champagne from Jay Z and BeyoncA ‘s label.
Earnings Preview: What To Expect From Barclays, RBS and Lloyds
Britain’s four major lenders will publish earnings this week, with investors now focused on potential downside surprises following a a show-stopping disappointment from HSBC’s full-year report Tuesday. Next up are Lloyds , Barclays and Royal Bank of Scotland , which are also due to report over the next three days.
Pop-Ups Come to Banking as Swedbank Steals a Page From Eateries
Sweden’s biggest mortgage lender plans to open pop-up banks across the country, reversing half a decade of shuttering branches. Swedbank AB, which has cut its network by almost two-thirds since 2011, envisions portable banks setting up virtually anywhere, from university campuses to real estate brokers’ offices to corporate clients’ headquarters.