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« July 1, 2005 | Main | July 3, 2005 »

July 02, 2005

The Next Heavyweight Champion of Banks

Tags » Banking Industry

Julie Creswell reports for the New York Times on the battle of the big banks: Citigroup vs. Bank of America.

"Citigroup has been so traumatized by the events of the last five years that it is no more the wild-eyed risk taker," said Richard X. Bove, an analyst at Punk Ziegel & Company.

"We're seeing one company shrink while the other expands. It's only a matter of time before Bank of America is bigger than Citigroup."

MBNA Merger Would Leave Capital One in Unique Position

Tags » Bank of America, Capital One, Card Issuers

Dean Starkman reports for the Washington Post on Capital One's position as the "only remaining company whose main business is marketing and issuing credit cards."

Its future, analysts say, depends on how well it can achieve growth in its new businesses, particularly auto loans, as the credit card business sags under a saturated market and financially stretched consumers.

Don't Let Data Theft Happen to You

Tags » Privacy, Security

M.P. Dunleavey reports for the New York Times on a personal experience with debit card data theft.

Unfortunately, although there are steps you can take to protect yourself - and you should - there are no guarantees. "You cannot protect yourself completely," said Edmund Mierzwinski, consumer program director at the U.S. Public Interest Research Group in Washington. "The best thing you can do is react swiftly if it does happen."

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