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Tag: Credit

A Federal Tool Could Soon Make It Easier to Compare Credit Cards

A Federal Tool Could Soon Make It Easier to Compare Credit Cards

“Comparison sites only show products with which they have an economic relationship,” said David Silberman, a senior fellow at the nonprofit Center for Responsible Lending. The sites can be useful, he said, as long as consumers understand the limitations. “It’s not objective advice.” The bureau’s move …
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UBS chief steps down ‘in the interest of Switzerland’ after Credit Suisse deal

UBS chief steps down ‘in the interest of Switzerland’ after Credit Suisse deal

Former CEO and newly appointed advisor Ralph Hamers, adjusts the jacket of Sergio Ermotti, newly rehired CEO of UBS Group AG, while sitting next to UBS Chairman Colm Kelleher – REUTERS/Stefan Wermuth UBS has drafted in the chief executive who helped it recover from the financial …
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What happens during a ‘credit crunch’ and how you can prepare for one

What happens during a ‘credit crunch’ and how you can prepare for one

Tetra Images | Tetra Images | Getty Images The recent banking crisis has fueled concern of a “credit crunch” and the resulting negative impact on households, businesses and the U.S. economy. But what is a credit crunch and how might you prepare? Loans would be tougher …
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First Republic, Credit Suisse, UBS, New York Community, Bed Bath, and More Movers

First Republic, Credit Suisse, UBS, New York Community, Bed Bath, and More Movers

We’ve detected you are on Internet Explorer. For the best Barrons.com experience, please update to a modern browser. We’ve detected you are on Internet Explorer. For the best Barrons.com experience, please update to a modern browser.GoogleFirefox Summary Summary U.S Read moreCrypto: A Bernie Madoff-Style Scheme May …
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FTSE 100 and oil tumble after Credit Suisse takeover by UBS

FTSE 100 and oil tumble after Credit Suisse takeover by UBS

Banking giant UBS is buying troubled rival Credit Suisse for almost £2.7bn – MICHAEL BUHOLZER/EPA-EFE/Shutterstock Banking stocks on the FTSE 100 and oil prices have tumbled after the historic state-backed rescue of troubled lender Credit Suisse by Swiss rival UBS Group. In a package orchestrated by …
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Why Is Credit Suisse in Trouble? The Banking Turmoil Explained

Why Is Credit Suisse in Trouble? The Banking Turmoil Explained

Stress in the U.S. banking system has jumped across the Atlantic, sparking turmoil for embattled Swiss bank Credit Suisse. The European lender has long been dogged by issues. But on Wednesday, problems surrounding the bank exploded into plain view. After a whirlwind 24 hours marked by …
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Credit Suisse Shares Crash by 30%, Bank Borrows $50 Billion

Credit Suisse Shares Crash by 30%, Bank Borrows $50 Billion

On Thursday, Credit Suisse announced measures to bolster its liquidity by securing up to $54 billion from Swiss National Bank. The decision followed a steep 30% drop in the bank’s shares, increasing concerns about the banking sector’s deposit crisis. Regulators and financial leaders temporarily stabilized markets …
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Stocks plummet, yields fall amid Credit Suisse turmoil

Stocks plummet, yields fall amid Credit Suisse turmoil

U.S. stocks plummeted Wednesday as two economic prints showed a slowdown in the U.S. economy in February, while fresh turmoil at Credit Suisse (CS) renewed investor concerns over the banking sector. The S&P 500 (^GSPC) dropped 0.7%, while the Dow Jones Industrial Average (^DJI) lost 0/9%. …
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Credit Suisse Finds ‘Material Weakness’ in Reporting Since 2021

Credit Suisse Finds ‘Material Weakness’ in Reporting Since 2021

(Bloomberg) — Credit Suisse Group AG said it is adopting a new plan to fix “material weaknesses” in its reporting and control procedures for the past two years, following a fresh review of its financial statements prompted by concerns raised by US regulators last week. Most …
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Credit Suisse Loses One of Its Biggest Backers

Credit Suisse Loses One of Its Biggest Backers

(Bloomberg) — Harris Associates stock picker David Herro sold the firm’s entire stake in Credit Suisse Group AG, ending ties with the bank after about two decades of ownership and piling further pressure on the troubled Swiss lender’s leadership. Most Read from Bloomberg The investment was …
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