Hartford Financial Services (NYSE:HIG) is trading up today after Credit Suisse (NYSE:CS) raised its rating on the firm to outperform on valuation, citing its limited exposure to interest rate pressures or accounting changes from the implementation of 09-G.
Northern Trust (NASDAQ:NTRS) will announce plans to cut costs early next year, cuts that are expected to include a round of job cuts. Low interest rates cut sharply into the bank’s ROE during the first half of this year.
Bank of America (NYSE:BAC) is ramping up foreclosures, sending 200% more notices of default in August than the average in previous months.
Moody’s Investors Service downgraded French banks Crédit Agricole and Société Générale, citing their exposure to the Greek economy.
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