Volatile trading in stocks and bonds could continue as investors sort out what's going on with the Fed and whether markets have come to some sort of inflection point.» Read More
LightStream, the online lending division of SunTrust Banks Inc., is taking aim at a niche space: Low interest unsecured loans for highly qualified customers. Larger banks like Citibank and TD Bank have always offered personal loans, but they tend to have higher rates.
NEW YORK, Oct 24- British bank Royal Bank of Scotland is expected to name Morgan Stanley as the lead underwriter for a proposed initial public offering of its U.S. subsidiary, Citizens Financial Group Inc, according to people familiar with the matter.
TORONTO, Oct 21- Toronto-Dominion Bank Chief Executive Ed Clark is not ruling out the possibility that TD could make a large U.S. acquisition, but he said the bank does not need to make a deal and isn't seeking one.
Oct 16- Bank of Montreal on Wednesday promoted Frank Techar to the newly created position of chief operating officer, with responsibility for three of the bank's four main business lines. As chief operating officer, he will also assume responsibility for BMO Harris Bank, the bank's U.S. retail bank, and for BMO's wealth management operations.
Sept 23- Toronto-Dominion Bank will pay $52.5 million in civil penalties to settle charges by U.S. regulators that it violated securities laws in connection with a Ponzi scheme conducted by Florida lawyer Scott Rothstein, who is serving a 50- year prison term.
Sept 23- Toronto-Dominion Bank will pay $52.5 million in civil penalties to settle charges by U.S. regulators that it violated securities laws in connection with a Ponzi scheme conducted by Florida lawyer Scott Rothstein, who is now serving a 50- year prison term.
TD was fined $37.5 million by the Financial Crimes Enforcement Network, $37.5 million by the Office of the Comptroller of the Currency and $15 million by the U.S. Securities and Exchange Commission.
*Aimia shares reach highest since April 2008. The agreement, which drove shares of Aeroplan loyalty program operator Aimia to a five-year high, averts a potential legal battle between the two banks and also eliminates uncertainty over the future of the card that could have seen customers flee to other banks.
Sept 16- Aimia Inc, which runs the Aeroplan credit card loyalty program, emerged as the clear winner on Monday after reaching a deal that will see both Toronto-Dominion Bank and Canadian Imperial Bank of Commerce issue its branded cards.
Sept 16- Aimia Inc struck a deal with Toronto-Dominion Bank and Canadian Imperial Bank of Commerce under which TD will be the issuer of Aeroplan credit cards and acquire half of CIBC's existing portfolio, with CIBC retaining the rest.
Sept 16- Aimia Inc struck a deal with Toronto-Dominion Bank and Canadian Imperial Bank of Commerce under which TD will be the issuer of Aeroplan credit cards and acquire half of CIBC's existing portfolio, with CIBC retaining the rest. TD said the deal, effective Jan. 1, would contribute 10 Canadian cents per share to earnings next year.
Wal-Mart said it is selling the 16 GB Apple iPhone 5 for $127, versus an original price of $189.97. However, a Wal-Mart spokeswoman said on Friday that the discounts were arranged with Apple.
NEW YORK/ TORONTO, Oct 26- Moody's Investors Service warned on Friday it could cut its ratings on five top Canadian banks on concerns about a softening economy and volatile capital markets, a blow to a banking system named the soundest in the world four years in a row.
NEW YORK-- Moody's Investors Service warned Friday that it could downgrade its debt ratings on the U.S. subsidiaries of two Canadian banks, Toronto-Dominion Bank and Bank of Montreal, after the parent companies' ratings were placed on review.
*Deal positions RBC as a leading auto lender in Canada. TORONTO, Oct 23- Royal Bank of Canada has agreed to buy the Canadian auto finance and deposit arm of Ally Financial Inc in a $4.1 billion deal to expand its vehicle-lending business at a time when loan growth overall is slowing in the country.
NEW YORK-- Target Corp. on Tuesday said it reached a deal to sell its entire consumer credit card business to TD Bank Group, ending an almost two-year search for a buyer. The two companies also entered into a seven-year pact under which TD Bank will underwrite, fund and own future Target credit card and Target Visa receivables in the U.S.
Ally Financial and Royal Bank of Canada are closing in on a deal that would value Ally Canada at more than $4 billion, according to people familiar with the matter.
Shares of JPMorgan Chase and Wells Fargo& Co. both fell after they released their results, even though JPMorgan posted record profits, prompting Canadian financials to follow suit, dropping 0.2 percent. Bank of Nova Scotia was down 0.3 percent at C $53.31, and Toronto-Dominion Bank was 0.2 percent lower at C $80.85.
TOKYO, Oct 12- Japanese wireless service provider Softbank Corp is in talks with three major Japanese banks to borrow $23 billion to finance a bid for U.S. operator Sprint Nextel Corp, sources with direct knowledge of the matter told Reuters on Friday.
TOKYO, Oct 12- Softbank Corp chief Masayoshi Son told reporters last week he decided to buy a smaller rival for $1.84 billion on an impulse- small change for someone who Forbes estimates lost $18 billion in the dotcom bust, but an unusual move in staid Japan.