Daily Archives: April 3, 2012

Big banks target retirement plans for new income

The Financial Times reported that three of the country’s biggest banks — Bank of America, JPMorgan Chase and Wells Fargo — are pursuing the administration of corporate 401(k) plans for new income.

The Times report says while it may not represent lots of new income, it does represent a steady source of it.

These banks, some of which are often referred to as “money center banks” or “too-big-to-fail” banks, have been looking for ways to recapture fee income they lost as the result of new regulations from the Federal Reserve and the Dodd-Frank Wall Street Reform and Consumer Protection Act.

A shocking amount of optimism for US economy

This Bloomberg story caught my eye with its almost dizzyingly optimistic tone. It’s such as change from the usual run of downbeat “we’re just around the corner from the next meltdown” story that you read so often.