opportunity fund is not a bank or a government agency. we are an independent nonprofit organization with a mission to provide capital to working people to help them earn, say, and invest in the future. we focus primarily on businesses that are not yet bankable. most of our clients are themselves low or moderate income people or working in low or moderate income neighborhoods. but not exclusively. we will look at any business we think can bring about substantial community benefits. i want to talk about what type of loans we make and whatever products we have. that is important to note that in our case, they mentioned -- i mentioned some acronyms. the service corps of retired executives, women's business centers, renaissance and entrepreneurs should here in san francisco, women's initiative for self-employed -- those organizations offer classes often and one-on-one counseling. in some cases, whether or not you are seeking a loan -- in our case, and rising is strictly tied to a loan. we are a financial institution. but if you come to us for

basically interchange fees or swipe fees are fees a merchant bank pays to a customer's bank when a customer uses their debit card. in december i joined a bipartisan group of senators in writing to federal reserve board chairman ben bernanke expressing our concerns with the interchange provision and to encourage the federal reserve to ensure that our consumer interests are protected in rate standards that are set. our letter outlines -- quote -- "concerns with the consequences of replacing a market-based system for debit card acceptance with a government-controlled system as well as concerns that the provision will make small bank and credit union debit cards more expensive for merchants to accept than those cards issued by larger banks. is it would likely put them at a disadvantage compared to the large banks that issue those other cards. in addition, the rule does not consider all of the costs incurred by a bank in actually providing the service, such as all the costs for fraud control, prevention, network processing fees, card production and insurance costs, fixed costs including capital

i agree the formula retail law should be plainly read -- this is a large bank, a chain and it should be applied. the formula retail includes retail sales and service and there is no exception for banks. i agree with their analysis. additionally, this space appears to be over 4000 square feet. i went and measured the space as best i could from the outside. i used to be an engineer, so i know how to make accurate calculations and vestments. i also looked at the plans they submitted to the board of appeals. i remade the measurements and my measurements were accurate and showed it went over 4000 square feet and i believe the neighborhood met with the zoning administrator and even as sony and administrators calculation appeared to go over 4,000 feet. then there was a back and forth trying to change the numbers. it is clear that goes over 4000 square feet and that should require a conditional use permit. not only that, as they walked up atm college planning concedes requires a conditional use permit that now are trying to change the plans so they don't have to have a conditional use permit.

my bank is a $236 million community bank. and as i noted in my opening testimony, our success is dependent on the people that we take care of. you will not find community banks around this country that have taken advantage of the people they see at the grocery store go to church together, and otherwise see around town. that is simply not the case. our success is dependent upon the success of the people that we serve and the vibrancy of the community that we operate in. and so that stewardship for the community is paramount to the success of community bankers from coast-to-coast. >> thank you. i'd like to ask mr. hunt to respond. i'll say this about you, professor, you changed my whole line of questioning when you made your statement. i'd like to ask on this question, that profitability equals safety and soundness what does safety and soundness mean to you? >> making sure that the bank is healthy to provide the need and financial services to their consumers. they're not exclusive. you must have safety and soundness. and you mu

. >>> we'll show you how a spunky woman with stage 4 cancer may have prevented a bank robbery. sc> wonder econ returns to san than g seemplif oo. the comic book uru's heaven coming up fmp fss [ male announcer ] for 5 bucks, you can get a sub. or...you can get all this. kfc's $5 everyday meals. like two pieces of original recipe. your choice of sides, biscuit and a medium drink. 5 for 5 bucks every day. today tastes so good. >>> in afghanistan, violence over the burning of the koran by a pastor started a riot in kandahar, they attacked cars and shops. yesterday seven u.n. workers were killed during a protest in the northern part of that country. this morning, u.n. secretary-general condemned the violence. >> and this was an outrageous attack against a u.n. staff, which cannot be justified under any circumstances. and i condemn in the strongest of possible terms. >> the burning of islam's holy book last month was supervised by terry jones, the pastor of a small florida church. many people in afghanistan did not know about it, because most media outlets refused to give jones a plat

we are like a bank except we are nonprofit. we are 501 c 14. we are insured up to 250,000. we build credit. what we do a lot is one-on-one counseling. we are also a part of the bank of san francisco, so we do pay their lending -- payday lending. we help people build up their credit before helping them to get a bigger loan amount. especially people who want to start a small business. credit unions offer micro loans. we do a lot of micro loans up to $50,000. this is -- we check credit. we need a business plan. then we look at the three-year tax return and that statement. we do a lot of home care and mom-and-pop shops. we also do start ups. we asked for approval through documents. we work a lot with people who do not know how to file taxes properly. we are mainly focused in san francisco. we are small. we focus mainly on the tenderloin, chinatown, bayview, visitation. we do a lot of expansion. people start small through the credit union and then want to go to the bank. we know we are limited. we cannot afford to give out a big loan. starting from the credit union, we educate th

an eight hundred thousand euro bonus on top of his one million euro salary and again this is a state owned bank use a civil servant he's a public sector worker when you're in the mafia and you kill somebody and you get upped so he's a guy killed a lot of taxpayers go a lot of net worth so it's a big bonus because it's a mafia when he was brought in in october of two thousand and eight his name is pierre maryon me he's the c.e.o. in the picture on the right in the foreground is. the fact that he's the fact guy and he's a politician who approved this bonus of eight hundred thousand euros to the banker he's waste centimeter challenged. you couldn't make him with one of those then balloons for sure. but keep in mind that dexia and these banks are engaged in this criminal conspiracy and it's not a conspiracy theory it's a should be a criminal indictment i mean that's a difference it's not a serious gaze and a massive rico act massive. broad but it's so big and here's the deal you know they say that we were two days away from bankruptcy well that's a story with everybody in the world because accordin

but now speaking of the fed the following headline fed's biggest foreign bank bailout saved us muni bonds a european bank that received the most federal reserve discount window help during the financial crisis also took three hundred eighty one billion dollars in aid from its home countries and owned subsidiaries implicated in a bid rigging that prosecutors say defrauded u.s. taxpayers so this is a dexia bank based in brussels and paris and it borrowed as much as thirty seven billion dollars from the fed with an average daily loan amount of twelve point three billion and eighteen months after lehman brothers holdings collapsed they made this into a film it would be triple x. rated because what you've got here are banks inserting collateralized debt obligations the various derivatives into each other or if this is plural in an overlapping manner then they lube it up with some of that credit default swaps banks the blood vessels over there j.p. morgan and then the of the holy orgy so you don't really know were what armpits the what body what leg sticking out of what and it's the godly consumm

way to create a centrally banking gonorrhoea is what i should say dexie it is a plague. only to be exceeded by the people organs which is breaking socialist well max the subsidiary of dexia bank was called financial security assurance and there in this headline from october two thousand and eight during this time they were visiting the fed discount window research update financial security assurance incorporated aaa ratings placed on credit watch negative so this instance. import and they still had the aaa reading on financial security insurance that was at the time in gates in defrauding us taxpayers and receiving money from us taxpayers they put it on negative watch after just marking down the credit rating for dexia we've mentioned it before s. and p. standard and poor's moody's they're part of a syndicate engaged in defrauding the global banking system customers and the taxpayer they're committing massive fraud s. and p. fitch their financial terrorists but again you know aaa rating and after a time it was backed by dexia the french economy minister is saying that dex

there's -- there's a bank, there's a prohibition tunnel and there's a theater.e to end up being in "the cherry orchard" to play lopakhin in order to rob the bank -- >> jimmy: go through the tunnel and rob the bank. >> -- go through the tunnel to rob the bank. >> jimmy: exactly. >> but also the bank i'm robbing i already went to jail for robbing in the past. but that's another -- >> jimmy: you're great at explaining this movie. this is fantastic. this is really good. it is -- it's so funny. >> when i was in jail, though, i met jimmy caan, who's the mentor -- >> jimmy: jimmy caan's in the movie as well. >> he's a legend. >> jimmy: do you call him jimmy? >> i call him jimmy. >> jimmy: yeah. [ laughter ] >> and then sometimes i call him mr. caan. >> jimmy: mr. caan is good, too. >> mr. caan. >> jimmy: and you produced this movie? >> uh -- yeah. >> jimmy: but, you did, right? >> well, i did, yeah. i was part -- one of the producers. it was a -- i have a production company and we developed the film. i guess it's been about seven years. and we eventually -- two and a h

a while. especially bank statements. we need to see consistent income coming in. so far, a credit union delinquent rate is quite low because we are working with a client. we want to keep that low and as part of our mission. there is no application fee. if you are interested in an application or information, i have brochures, or you can give us a call. >> thank you. next is marked with wells fargo. >> hello, i work for wells fargo bank. i cover the northern california region. i usually focus on about $350 -- $350,000 of sbe loans. last year, for 2010, i did 43 loans. so we are lending. i usually focus on six different types of loans. start-ups, business acquisitions, real estate purchases with ti's, working capital, a partner buyouts, business expansion. when i am looking at a potential loan, i use the standard five c's of credit. the first one is character. what we are looking for is a minimum score around 640. we would like to say no recent bankruptcy foreclosures, bankruptcies, tax liens. if we see a loan that has been modified, we would like to see a reason it w

the only way the system works of unique logon identifiers for the government is if they do it like a bank that creates that i said i had a red little u.s.b. drive every time i log in i got a new six digit pin the problem with that is getting everybody on the same secure server and same secure system is going to take a lot of time and a lot of money i don't know if they're ready to go that far to make it secure if this is such a dumb idea right if they come up with the where did this come from do you really need to ask that question this is the government well. yes and no i mean you know sometimes the government does things right and so security's never fill the pitcher . and i've seen a lot of corporations screw things up it does it i mean is there is there some rationale behind this could this present or was the world really hey let's figure out a way to get the post office in the mail business where this might be a way or something like that i mean was it you have any information about what brought this about i don't put sending emails free so i'm not sure how the post office would make

we reported last week however as well that the department of justice never even pursued while kovi a bank which laundered four hundred billion dollars of mexican drug money and they didn't pursue a criminal case that's right facing herbert they could move four hundred billion boat a good crowd money right out of the department of justice of bones and their response to. the war that come pretty our coke i don't believe in just the other thing that is emerged in this new report out by carl levin is e-mails show how great lippman built deutsche bank's five billion sub fine short duping c.d.o. fools so this is gay. lippmann of deutsche bank and again they were targeted along with goldman sachs as being the worst transgressors of of all known like legitimate conduct by a bank and selling derivatives and they found e-mails where he was selling to investors vines that he said blows yikes quote i didn't see that half of these are crap and the rest are ok he calls them a pig c.d.o. then he shorted it covered this sort by duping c.d.o. fools so he said that they were the c.e.o.'s that he was sellin

. >> if niece guys went into a bank -- these guys went into a bank and tried to rob a bank, they'd get tens of thousands of dollars. this was a $37 million haul. >> reporter: they were able to track them to a storage unit. authorities are looking for as many as ten other suspects. >>> tonight the question is will the judge throw the verdict out. the jury found bonds guilty on one count and deadlocked on three other counts. >> i believe that all the players that testified on the stand and came clean are the true heros. that they finally said yeah, we've been taking steroids all along, and now we're coming clean, we're telling it the way it is. i believe that there's one man that just couldn't do it because of who he is. >> in the end, jurors didn't think there was enough evidence to prove bonds was lying. only that he obstructed justice, because his testimony to the grand jury was quote, evasive. >> reporter: his celebrity is still obvious. minutes after being convicted in a federal court, barry bonds was autographing a baseball. his attorneys emphasize the jury deadlocked on three seri

she told us she's never been a bank vice-president. 003, she was a shipping clerk for auto parts when her grandson told her about a job at a company called docx, d-o-c-x. docx, once housed here, in alpharetta, georgia, was a sweatshop for forged mortgage documents. >> szymoniak: they were sitting in a room, signing their name as fast as they possibly could to any kind of nonsense document that was put in front of them. >> pelley: docx, and companies like it, were recreating missing mortgage assignments for the banks, and providing the legally required signatures of bank vice-presidents and notaries. linda green says she was named a bank vice-president by docx because her name was short and easy to spell. as demand exploded, docx needed more linda greens. so you're linda green? >> chris pendley: yeah. can't you tell? >> pelley: chris pendley worked a docx at the same time and signed as "linda green." when you came in to docx on your first day, what did they tell you your job was going to be? >> pendley: that i was going to be signing doc

how much money do we need to have in your bank to apply for a loan? >> i am on the smaller side of the bank. i am a transaction guy. i do not technically require one to have an account to do a loan with. what i look for, i generally start at 100,000 and up. when it is a requirement of 50,000 or less, i tend to call of the micro guys to help me out. that is right in their box. for us, the capacity for us to do the smaller side is not there as much as it is for them. on getting a loan through my side of the bank, i do not require an account to do that. we would like to have it, but i do not require it. >> last question for the opportunity fund and a critic representative. are you a cdfi? is san francisco and s.p.a. in support of cdfi's being established in san francisco? >> yes, we are. we were founded in 1999 with a small business loan. that is how we started our tenderloin office. >> opportunity fund is a certified cdfi, so we are providing a benefit to low and moderate-income communities. he is the city establishing support for new cdfi's? >> mark wan

amount. >> $3. >> the convenience is pretty important. >> reporter: today if you want to use an atm of a bankwhere you're not a customer, the average swipe will cost you $2.33. if you want to use a chase atm and not their customer it would cost you $5. in a test run, jpmorgan chase has instituted the $5 fee in illinois and $4 fee in texas for every noncustomer. the bank makes no apologies. >> we haven't decide on the price but i'm confident in charging people who are not our customers. >> reporter: banks insist because it's because of new regulations on overdraft fees and debit cards that could cost them billions. what do you think of $5? >> way too much. >> reporter: on consumer blogs customers said they might as well profit from their competition. i don't blame chase on this at all. if you want to avoid the high fees, you need to plan ahead, limit your withdrawals and search around for banks and credit unions. it's a little bet of common sense that could save you countless dollars. t.j. winick, abc news, new york. >>> the ace of cakes wants to make his creations available in an affordable p

government and embarrassed every american really that he would get this privilege insider deal to help out a bank that committed fraud and should have been these guys lloyd blankfein should be in jail already knows warren buffett holding them up as a moral example is quite sharp was shocking all right we'll turn to have a caller thanks so much for agreeing once again on the cars report that's going to do it by max and that's going to do it for this edition. the kaiser report was maniacs kaiser and stacy herbert i want to thank my guests janet tanach only if you want to send me an e-mail please do so at kaiser reported r.t. t.v. that are you until next time this is nice guys are saying bye.

we don't want a system where no bank can fail. that's not the situation we want. we want is we want a system where if a bank fails it doesn't create systemic risk. >> rose: right, exactly, it doesn't take the system with it. >> and of course we can accomplish that. were there mistakes made in the past? absolutely. and were there situations on the regulatory side and on the bank management side-- mostly on the bank management side-- where we got into trouble, yes? >> rose: suppose lehmann had not gone into bankruptcy, which caused a great psychological crash, did it not? >> yeah, and i think-- yes. >> rose: suppose it had not. suppose like bear stearns it had been sold? >> i think there were so many -- >> would psychology have it an impact so we would not have experienced the fear? >> very hard to say. but most people point to the lehmann bankruptcy as-- is the trigger of the deepest darkest fears that came, and pushing the economy over the edge into the deepest, darkest, most global correction that we had ever seen. but,un, i think the lehmann bankruptcy has becom

and a forward-thinking spirit. at bankerica, we've been fueling economic growth here for over a century. today, we're investing in innovations that will define our future. every day, we're working to help set opportunity in motion. from financing a solar project for the milpitas school district to funding the institute at golden gate. because when you're giving, lending, and investing in more communities across the country, more opportunities happen. >> annual easter egg roll took place this morning. 30,000 people from all 50 states took party white house. day began with the national anthem. ♪ jose can you see ♪ by the dawn's early light ♪ . >> ready. get set. go. [applause] if. >> we have a winner. yes. about oh. is where our winner. good job. there you xwoyshtion the theme is get up and go because as you know i'm a big proponent of getting up and going so while you are here you can roll your egg. you can do some yolk a. play basketball. about. [applause]. [applause]. >> street shoes. white house egg roll tradition bates

thriving community bank sector in this country. we have taken a number of actions to do that. we funded the obama -- the it obama administration did not provide funds to large banks. we provided funds to 400 small banks and 60 were funded out of the program. treasury push for the implementation of the small business lending fund to provide assistance. the differential you referred to is important. dodd-frank provides us with tools to address that. it allows us to impose tougher standards on the largest banks. capital standards, leveraged standards, liquidity standards. there is a lot of work to do to implement that but it does give us some tools to adjust the problem. -- addressed that problem. problem.ess that >> could you detail some of those? >> some of our banks do not have access to capital markets. that is why we have been able to see a lot of the larger banks have repaid t.a.r.p. funds and some banks have not. we are continuing to work with them. is capital under a tart.a.r.p. not required to be repaid. the fact that we funded a lot of thos

backed by a code via bank j.p. morgan bank of america all these other banks that went polling month to the fed prior to their c.e.o.'s may have been a rated following that all the downgrades happened now we first reported on this in two thousand and eight when antonia maria coast then head of the united nations office on drugs and crime said he had evidence to suggest the proceeds from drugs and crime were the only liquid investment capital available to banks on the brink of collapse he said quote interbank loans were funded by money that originated from the drugs trade there were signs that some banks were rescued that way but again there's another aspect to why do analysts give these studios a rating of aaa why does moody's s. and p. fitch give what is obviously garbage a aaa rating isn't it clear that they're high on cocaine well it clear the people of movies executives of movies fiction and s. and p. are need to be in reality because they're taking massive quantities of cocaine to support their delusion is a ma

it can help to bank with a smaller firm or online, where fees are often lower. if you are not interested in switching banks, consider getting direct deposit for your paycheck. it will often qualify you for free checking. finally, you may not want to bank at a bank anymore. >> credit unions have lower fees, lower balances to avoid fees, and much better deals on loans than banks do. >> reporter: there is some hope for consumers that things will get better. the new consumer financial protection bureau will open july 21, and one of its duties will be to monitor banks in the interest of the public. erika miller, "nightly business report," new york. >> tom: one year ago today, the deepwater horizon oil rig in the gulf of mexico exploded, killing 11 workers and sending five million barrels of crude gushing into the water. bh has sued the make e of the device that failed to stop the spill. bp wants cameron international to help pay billions incured by that deadly explosion that killed 11 workers and sent 5 million garl barrels of crude gushing into the water. after a six

. >>> the fbi just released photos of a gunman who held people hostage in a bank. the first is of a man who ordered everybody to get on the floor when they burst into a bank on fremont. the second shows a man getting out of a black nissan that was used as the get away vehicle moments later. both wore hoodies and bandanas over their faces. anyone who has seen those robbers is urged to call the fbi right away. >>> a job fair for veterans this earth day was fittingly focused on green technology. job seekers fill filed into skyline college this morning to learn about jobs in electric vehicle production. recruiters from palo alto based tesla were on hand for the event. attendees also got to test drive fuel efficient models. >>> in its summer electricity forecast, the california commission says its confident there'll be more than enough power to to go around thanks to more solar and wind technology. the increase is a sign of an improving economy say officials. >>> and some school children celebrated earth day by gathering at a state spark. the presidio gave lessons. >>> f

american soldiers would simply to see the big general come down and sit down on the ground in front of a. bank use a gun fired because he was too nice to the prisoners. and was opposed to a secret list of unconventional questioning methods and out word goldring out theirs. is that. some of the interrogations may i don't have to prove. violation. or what we would are sure where you hear when general was here no we came just after you had or you know why. right here. have you heard anything. nothing that i would want to repeat because i don't know whether this is true. and as far as the history of general back is. all we know as far as he was he everyone here is on a tour of. six months and he finished six months already more home we called up the baucus is old press secretary and southern command. both. you can ask and i don't know how to get a budget and you don't want her in the military retired or even. even tired our earlier this month. window we are to go ahead no way gate i didn't either but baucus has not retired he has been reassigned to a desk job. out of his own number k. area grow ou

it was a great quarter for a bank. our recession happen because its banks collapsed. was a great quarter-the dividend >>catherine: retail sales for march pretty good right? >>rob: not too hot not too cold. he can tell your higher gas prices are affecting the consumer, >>catherine: here's an interesting thing, insurance at a time of natural disasters what is happening in the world of insurance. it's obviously taking a hit. >>rob: typically in headline times like with japan, you can see billions of dollars. it it's a good time to pick up insurance companies because the headlines pushed all the stocks down whether their reinsurance companies, disaster areas or whether companies like traveler's, as, an exile group. they're well-positioned, more than just natural disaster companies. they are car, life insurance companies. i used the weakness in the media as an operative. >>catherine: how about investing in new technology really fast, >>rob: wanted to highlight investment. basically our computers have hard drives which have movable parts. this has a solid state drive in it,