Word: bankses
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Lenders are rethinking their reliance on credit scores. In the past year, an increasing number of banks have begun turning to court documents, phone bills and other nontraditional ways of measuring creditworthiness to bolster their lending decisions. The shift comes at a time when the financial industry is suffering from...
Few of us will miss 2008. Stock markets tanked. Government budgets bled as billions went to bail out banks. Thousands lost their jobs or their homes, or both. Yet amid the gloom there was one reason to celebrate as the year ended: filling your car with gas got cheaper with...
Clawing back gains absent fraud--and where there are no preset clawback agreements--is another matter. The concept is foreign to most of Wall Street. Hedge funds generally have only what you might call "claw forwards": high-water-mark provisions that prevent managers from pocketing performance fees after a loss...
Can that clock be turned back? It depends partly on Congress but mainly on financial markets. If they come roaring back over the next few years, the whole clawback conversation will probably be forgotten. If they don't, investment banks and hedge funds will have to reinvent themselves to win...
Every day, another anecdote: Five Banks held up in a single day in New York City, where such robberies are up 54% from last year. Grocers putting electronic tags on sirloin to deter shoplifters. Psychologists predicting more mall violence and workplace rampages. And of course the story that started it...