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

courage in the face of a bank robber. the woman has stage 4 cancer stopped a would-be robber yesterday. nbc's steve lits has her story. >> she got on my last nerve. i have cancer, stage 4, and i figured if i'm going to die, it's god's will when i die. she's not going to shoot me. >> reporter: helen being called a hero tonight for foiling a bank robbery at the bank of america near east prospect road in andrews avenue in oakland park. erin on the right calls dunceford grandma. he was inside the bank and saw her in action. >> at first i didn't believe it until grandma jumped out and started tackling her. then i realized this lady was serious. >> reporter: they held the would-be fee male robber down until authorities arrived. this man and another man may have been with the suspect. the fbi has all three in custody tonight. special agent michael leverock had this to say after the ordeal. >> we need people to be good witnesses and not get involved in confrontations. >> reporter: vanessa gonzalez is a bank customer. >> i think t

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

that is what a bank is. a bank provides services directly to the consumer, and directly to me as i am a chase customer. it also gives an express exception -- it says it does not include sales and assert -- it does not include a non-retail use inaccessible to the general public as defined. those are three sections as defined. you can look at them, it is light manufacturing, sales, non- retail. service financial is not one of the three sections expressly stated in the exception provided for in sales and service retail. if we allow this exception to move forward, which is not provided for in the law, we are setting a precedent and a domino effect that allows banks like chase popping up nonstop in cities without opportunity for neighbors to be heard and a conditional use hearing is necessary. the denial of which denies me and my neighbors are due process rights. thank you. >> i live in the same neighborhood and i have the same feelings. i have been there about 15 years and i agree that the case should be having

fluids in a way that creates a centrally banking gonorrhoea is what you can say dexie it is breaking some of the audio only to be exceeded five hundred people are going to which is full of clothes creating surplus well max the subsidiary of dexia bank was called financial security assurance and they're in this headline from october two thousand and eight during this time that they were visiting the fed discount window research update financial security assurance incorporated aaa ratings placed on credit watch negative so this is from stay. anderton port and they still had the aaa reading on financial security assurance that was at a time in gates in defrauding u.s. taxpayers and receiving money from u.s. taxpayers they put it on negative watch after just marking down the credit rating for dexia right we've mentioned it before s. and p. standard and poor's movies they're part of a syndicate engaged in the fraud ing the global banking system customers and the taxpayer they're committing massive fraud moody's s. and p. fitch their financial terrorists but again you know aaa rating and a

, a small one, expansion, and we work with the bank. the bank and credit union are similar. we do allow tax returns, projections. credit unions do not charge an additional loan or processing fee. processing time, on a small loan, -- consumer loans probably a few days. because we require a business plan, sometimes it takes longer. business plans take 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 wit

banking jets have a calling oh max this isn't a case of telling the truth slowly i think you're aware that warren buffett issued a press release and them all talking about the departure of david so call who was the head of made america and energy and david so call. was also somebody who looked at acquisition candidates for berkshire hathaway now a as the facts are coming out it appears that he was in meeting with citi group bankers on december thirteenth and the next day he bought shares in a country called hoover saw in a company called loopers all the day before the citi group bankers understood that they were talking to david so call in his capacity as an officer of berkshire hathaway in a capacity of an officer who evaluates potential acquisition candidates for sure hathaway. that seemed to be their clear understanding and in that meeting david sokol asked for a meeting with the president of lubrizol. so he sought that meeting and on december seventeenth we now find out through bloomberg news that on december seventeenth the city group bankers gave feedback to david so that the pr

really -- he's going to rob a bank. >> he's going to rob a bank. >> jimmy: and you get busted for -- >> yeah, they escape and then i don't turn them in. so i go to jail. i mean, jimmy -- and i'm a guy who's kind of on the edge of his life. he works in this toll booth. he's -- you know, he's not happy. he doesn't quite know -- you know, we learn that he's a guy without a dream. >> jimmy: yeah. >> and james caan says "what kind of life is that?" and i say, "a pretty good one." and he says, "henry, you're in jail." and so, kind of i decide that i have done the time, i might as well have done the crime. >> jimmy: crime, yeah. >> i don't know if this is a good movie for the kids. is that a good lesson? >> jimmy: yes. [ laughter ] that's a great lesson for the kids. yeah. >> you've done it all. >> jimmy: you have done the time. do the crime. >> keep going. >> jimmy: i like it. >> keep going. >> jimmy: i like it. it's great, yeah. why not? you might as well. >> it's a good laugh. >> jimmy: i want to show everyone a clip. here's a clip of keanu reeves in "henry's crime." >> i'm going to rob

bank's ownership claim without a lawsuit. she says that this could be cheaper for the banks than trying to recreate the missing documents legitimately and not through the document mills. >> bair: i think, eventually, the bank could prove who owned it. but it would take... it would take a lot of time and expense. >> pelley: you know, none of the major banks were willing to sit down with us and talk to us about this, not even the american bankers association. >> bair: i'm sorry to hear that. >> pelley: why do you think that is? >> bair: they're feeling very defensive now. and so, i can only assume that is the reason that they declined. >> pelley: the banks are defensive because all 50 state attorneys general want to punish them. the states are seeking about $20 billion in damages for what they say is the irresponsible, perhaps criminal, way that some mortgage companies handled what is, for most folks, the most important investment of their lives. we used to bet who could get closest to the edge. took some crazy risks as a kid.

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

of of all known like legitimate conduct by a bank and selling derivatives and they found e-mails where he was selling to investors vons and he said blows yikes quote 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 short by duping c.d.o. fools so he said that they were the c.e.o.'s that he was selling were crap and that they needed to find a fool to sell it to but i think you never have to daisy chain a frog they repackage the same garbage over and over again they sell to the same company pension funds managers who are given a huge supply of vodka and cocaine to look the other way while they buy suspicious crappy c.d.o. products at the very end a pension accounts and then a year later the government will say we have a crisis we don't have enough money to pay our pensioners they don't mention the fact that the reason they have no money is because it disappear thanks to blankfein goldman sachs that other smarter you mention and some corrupt money manager and hedge fund manager and pension fund manager who according to g

what 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 become, clearly, the trigger point for that in most people's minds. but would there have been another t

robber who hit a chase bank branch this morning and fired a shot inside. police say a man with a pistol held up the branch and fired a warning shot as part of his demand for money and to demonstrate he was serious. those are the headlines tonight. >> san francisco trash may soon be taking a train trip. the city dump contract is ending. and officials are shopping now for a new deal. some say the rail plan will save millions of dollars and help the environment. critic say it may be too good to be true. >> san francisco has the best recycling rate in the country. but still produces more than 1,000 tons of garbage every da day. the city doesn't have its own dump so the trash goes to the land fill in livermore. that dump contract ends in about 5 years. waste management, the company that owner the land fill bid on new contract but another company beat them with a bid that was less than half the cost. >> it is good for rate payers. it's much better economically and secondarily it is better for the environment. >>reporter: low bidder is this company that already p

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 money from doing the email business part of it as

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

bank where 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 price. duff goldman will be introducing cakes called cake for two. y

. >>> 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. >>>

. >> 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

merger of a bank clock. first of all with goldman last and then look over your with wells weakening stronger banks and of course you know a lot of behind the scenes double dealing was done to accommodate a merger between wells and we'll call it including an unconstitutional change of the tax rules to allow what co you to be able to write off losses rather to write off losses. to base the first hundred billion first four hundred billion in a mexican drug money laundering then you've got hundreds of billions in lost laundering. goodly accounting fraud again what provia again carter wells fargo again over you know under warren buffett's watch this guy is really just bernie made off with a nice shirt with a nicer suit maybe no i should correct that well now this is burning a lot of the good food they said they had to be careful what you hope people accountable for because i look to the wells management mccovey management for that but with with warren buffett his lack of it is what i would call a reverse moral su

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-month ban, deep drilling in the gulf is back on. the government tightened regulations last fall, and since then it has approved six new projects. in part three of "revitalizing the gulf," diane eastabrook takes us to morgan city, louisiana, w

the question was, do have to have an account with a bank in order to get a loan? may answer is no, but the real answer to it is certainly want to do that. one of the things we see as an important thing for you, as a small-business person to establish a relationship with a lender on a variety of levels before you look for funding. part of that is opening an account with them, letting a lender know about your business, understand your business, talk to them as you are growing your business. when the economy is strong, all lenders are shopping for transactions. in times are tough on credit, you want to rely on those deeper liberation ships with your lender. you want to develop a relationship with a lender. it is the case where you want to open up an account, while to have another bank services that you want to have a relationship with your lender with it because when you go to them for any loan requests, you want them to know about your business and feel like they are a partner of yours, not just that you are shopping them. if you are shopping, you are just looking f

when the largest bank and make a profit, nearly a point cheaper than its competition? peer cost of money. isn't this going to move the most creditworthy onto the big bank while leaving the little bank with higher rates and being forced to take whatever is left behind? >> no, absolutely because again let's say you are depositing money in one of these banks. you go beyond the fdic limit. you want to have implicit government guarantees of too big to fail behind your deposits? i mean, from an ethical and moral point of view, you may not want to support these institutions because of this implicit government guarantee but as a businessman, how can you not take advantage of the fact that you are getting what is essentially free deposit insurance based on the implicit guarantee that the government is going to bail them out. what does that do? it makes them bigger. and makes them even more systemically important. it is a downward spiral. it also takes a smaller banks and gives them an incentive as well. we need to get your. we need to get into this gravy train. we need to get o

the funtsds refunds reside in a bank in a fdic account. >> let's say it's $100 and i'm charged $100 or $105. where is the initial money being made? >> when you purchase the product there's a $3.95 charge up front for the product. that product can be reloaded or they can have their product redirect deposited free of charge. >> it is going to be growing. >> it's one of fastest growing segments of the payment industry and i think it will continue to be going into the future. jaf lynn shared some research they do each year looking at credit usage. 2007 we saw 86% of consume erps using some sort of credit, this year estimated to be $46. >> the president and founder of blackhawk network. up next, the future of gps from the guy who helped invent it. back in a moment. >>> welcome back from 37 degrees north, 121 degrees west or san jose california, i can get more precise than that using a gps receiver. within about 20 feet and soon within about 2 feet. >> you think gps is cool now, just wait until the latest constellation of super precise satellites are in orbit. >> my fellow americans -- >> th