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Bank Brand Values Higher Than Ever, Wells Fargo in the Lead

Bank brand values across the globe are on the rise, charting their highest values ever and double their values in 2009, during the financial crisis, according to the results of an annual study by Brand Finance. The most valuable bank brand worldwide is Wells Fargo, with a $26 billion brand, according to the study.

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Unemployment Rate Up to 7.9% in January, Economy Adds 157K Jobs

If businesses had any reluctance to hire in December because of fiscal cliff concerns, they didn't make up for it in January: Payrolls expanded by 157,000, down from December, but the unemployment rate moved to 7.9 percent from 7.8 percent a month earlier, the Bureau of Labor Statistics (BLS) reported Friday.

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Report: Treasury Failed to Plan TARP Exit Strategy for Ally

A taxpayer watchdog agency accused Treasury of lacking a concrete plan to help Ally pay back taxpayers and move toward financial stability. Although Treasury made three investments into Ally, totaling $17.2 billion, the report says Treasury never required the company to "spell out a plan" to address issues surrounding Residential Capital, Ally's mortgage arm that caused most of the company's losses.

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CFPB Announces Acting Deputy Director as Date Departs

CFPB

The Consumer Financial Protection Bureau (CFPB) announced Steve Antonakes will serve as acting deputy director while the agency continues searching for a replacement for departing deputy director Raj Date. CFPB announced in November that Date would depart at the end of January 2013.

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Personal Income Jumps With Fiscal Cliff Dividends

Personal income jumped a staggering 2.6 percent in December, almost four times the 0.7 increase economists forecast, the Bureau of Economic Analysis reported Thursday. Part of the December increase, BEA said, was due to "accelerated bonus payments and other irregular pay in private wages in anticipation of changes in individual income tax rates." Personal consumption spending rose 0.2 percent, slightly below the expected 0.3 percent increase. The increase in personal spending--$22.6 billion --came primarily in spending on services.

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