European Debt Crisis Threatens Citigroup and Wells Fargo's Recovery
Five Star Equities Provides Stock Research on Citigroup & Wells Fargo
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 02/07/12 -- The European debt crisis continues to weigh on the U.S. financial sector. Recent remarks from the International Monetary Fund (IMF) suggest that more bank recapitalization and limits on bank deleveraging will be required to prevent "spill over" into the United States. Europe should build a larger "firewall" to contain the crisis, the IMF said in an update of its Global Financial Stability Report. Five Star Equities examines investing opportunities in the Money Center Banking Industry and provides equity research on Citigroup, Inc. (NYSE: C) and Wells Fargo & Co. (NYSE: WFC). Access to the full company reports can be found at:
According to a recent survey from The Federal Reserve, more than 50 percent of U.S. banks that lend to European banks have tightened their standards, a reflection of the persistent European debt crisis. Many economists predict that Europe's debt crisis will push the region into a recession this year, the Associated Press reports. Many European banks are heavily exposed to government debt, making the banks more of a risk.
At the same time, the survey shows that U.S. banks had picked up business as European banks pulled back to rebuild their balance sheets.
Five Star Equities releases regular market updates on the Money Center Banking industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Meanwhile in North America, New York State Attorney General Eric Schneiderman sued three major U.S. banks last week, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices, Reuters reports. Schneiderman filed the lawsuit against Bank of America, Wells Fargo & Co and JPMorgan Chase & Co.
"The mortgage industry created MERS (Mortgage Electronic Registration System) to allow financial institutions to evade county recording fees, avoid the need to publicly record mortgage transfers and facilitate the rapid sale and securitization of mortgages en masse," Schneiderman said.
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Datum: 07.02.2012 - 07:20 Uhr
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