As those with oil heating celebrate the lowest oil prices for many a winter, it is becoming increasingly obvious that the control of the oil market has passed from OPEC to the world’s credit markets. […]
Tag: Banks
America’s Too Big To Fail Banks Caught Paying Nothing In Corporate Taxes
Many British politicians and tax campaigners are angry after it was revealed that some of the largest and most successful investment banks in London paid little or no corporate taxes in 2014. It was discovered […]
Banks Warming Up To Online Lending Upstarts
It appears that big banks are finally starting to warm up to online lending upstarts. The aftermath of the 2008 financial crisis resulted in big banks being very hesitant to take risks on high-tech lenders, […]
Local Banks Winning Out As Millennials Shun Big Bank Fees
Ever increasing big bank fees are driving millennials to go local with their money, according to new data compiled by Accenture Plc. Over the last year community banks have netted a five percent increase in […]
Financial Stability Board Says World’s Major Banks Are Not Meeting Standards
International banks that have a strong presence in multiple countries are still not meeting the expectations of the Financial Stability Board. According to a statement issued by the board, countries must enact legislation in order […]
People Are Complaining About Their Banks On Social Media And The Banks Are Responding
Banks have been getting involved heavily on social media websites, as they have been responding to posts made by people who are complaining about their mortgages. Representatives from banks have been using popular social media […]
Chinese Banks Are Doing Away With Bank Cards By Utilizing Facial Recognition Software
Banks in China are developing face-recognition technology so that users can withdraw funds without having to use their bank cards. Instead, the facial recognition software will be able to identify users. The technology is being […]
Stupid Oversight By Banks Allowed Known Con Artist To Open 17 Different Accounts
Daniel Fernandes Rojo Filho, who allegedly participated in a massive Ponzi scheme, supposedly established 17 different bank accounts under the name of his business. Filho is 48 years old, and he claims to be a […]
Banks Heavily Affected By Glencore’s Severe Financial Troubles
Financial firms are extremely concerned about their heavy involvement with struggling commodity trader and mining company Glencore. Banks from across the world have approximately $100 billion invested into the company, and most of its trade […]
Americans Are Declining ATMs To Avoid Significant Fees
The cost for using an ATM to withdraw cash is continuing to rise, leading more Americans to think twice before using the machines to stock up on money. According to one survey, the average national […]
Banks Might Have To Begin Work With Technology Firms
Banks throughout the world will soon have to make the decision of either helping upstart technology companies or working against them. Startup technology companies are able to provide banking services that are often cheaper and […]
America’s Four Largest Airlines And Their Shareholders Are Facing A Major DOJ Antitrust Investigation
Antitrust officials in the United States are examining whether or not the country’s four biggest airlines formed a sort of airline cartel, in which they worked together in order to keep airfares high. It is […]
Landmark Settlement Means Banks Can Be Held Liable For Helping Terrorists Move Money
The surviving victims of terrorist attacks cannot easily challenge their perpetrators in a courtroom, but the banks that finance their operations are now fair game. In Brooklyn, New York, a damages trial was to take […]
Rate Rigging Penalties For Big Banks Will Be So Big They Threaten The Stability Of The Financial System
The most internationally recognized banking institutions in the world face a wave of lawsuits in the UK this autumn to compensate for billions of dollars of losses incurred as a result of their traders rigging […]
22 Banks Hit With Class Action Lawsuit Over Treasury Bill Rate Manipulation
In the aftermath of the LIBOR convictions in May this year, in which five global banks agreed to pay $5 billion for their manipulation of interbank interest rates, 22 banks were sued on Thursday for […]
Greek Banks Near Collapse As 700 Million Euros Leaves Country In One Day
The Greek government may have felt good going into the weekend about stiffing the IMF of a debt payment this week yet the country continued to edge closer to a financial catastrophe. The latest indication […]
Wall Street Already Busy Rewriting History For 2016 Election
Understandably top executives from the biggest U.S. banks are concerned about anti-Wall Street rhetoric on the 2016 campaign trail. The banks have, after all, been running sophisticated criminal enterprises that have victimized hardworking Americans in […]
JP Morgan Investigated In Yet Another Criminal Probe
It wouldn’t be a week in the financial markets without more revelations of criminal conduct at a global mega-bank. Yesterday it was revealed that JPMorgan Chase has been placed under formal investigation in France as […]
Greece Teeters Closer To Bankruptcy, Announces More Capital Controls
The latest developments in Greece do not appear to be positive. Last week, the Greek government seized “excess cash” from municipal government to replenish the central bank coffers so that Athens would be able to […]
HSBC To Flee London Because Of More Regulatory Oversight
After freshly paying a record fine for market manipulation schemes, HSBC Holdings, Europe’s biggest bank, said it will review whether to move its headquarters out of Britain following regulatory and structural changes in the industry. […]
Governments And Banks Want To Track Your Money
Disturbing news has leaked today that some JPMorgan Chase customers are receiving letters informing them that the bank will no longer allow any cash to be stored in safety deposit boxes. The details of a […]
Another Day, Another Bank Fine. BAML To Pay $20 Million
In what has clearly just become a cost of doing business, Bank of America Merrill Lynch was fined 13.2 million pounds ($20 million) by Britain’s markets regulator for failing to report transactions properly over seven […]
Latest Bank Earnings Show Nothing Has Changed
Once bailed out Wall Street investment bank Morgan Stanley reported a much stronger than anticipated rise in quarterly profit, boosted by higher revenue from trading bonds and equities. “This was our strongest quarter in many […]
Banker Admits Investment Banking Fees Terrible For Companies
Ed Clark, former CEO of Canadian banking behemoth TD, stated this morning that he would not allow banks to ‘skin us’ on fees related the upcoming IPO of his company Hydro One. The comment should […]