In its first move to reduce its global presence, Deutsche Bank has decided to close its Russian operations, with the exception of transaction banking services. Deutsche Bank recently announced its plan to transition from a […]
Banking
Russian Bank Caught Using Fake Gold To Boost Its Balance Sheet
In a world first, Russia’s Admiralty Bank has been found to be passing off fake gold – gold-plated metal – designed to fool bank regulators into believing it was real gold. The effort was designed […]
Global Banking Giant Barclays Just Announced It WIll Start Accepting Bitcoin
Global mega bank Barclays announced today that it will start acknowledging the controversial digital currency Bitcoin towards the end of this year. The UK-based international financial services organization affirmed that Bitcoin has the “potential to […]
Kansas City Fed Denies Marijuana Credit Union License To Operate
A credit union designed to service the needs of Colorado’s marijuana industry has hit another roadblock on its path to legitimacy. The Federal Reserve again moved to deny the Fourth Corner Credit Union (FCCU) a […]
Citigroup To Pay Yet Another Multi-Million Dollar Fine Over Illegal Conduct
The Consumer Financial Protection Bureau (CFPB) has ordered Citigroup to refund $700 million to customers and slapped the institution with $70 million in fines for “illegal and deceptive credit card practices”. The penalties are the […]
Greek Banks Prepare To Confiscate Customer Deposits
In the face of insolvency, Greek banks are now preparing plans for a so-called “bail-in” of depositors, which would see a certain percentage of customer deposits taken by banks in order to stay in business. […]
Government Closes Greek Banks As Country Nears Default
Greek officials scrambled over the weekend to prevent the country’s financial system from collapsing in panic, with banks in the eurozone nation staying shut on Monday. The capital controls, designed to prevent badly needed currency […]
Six Global Mega-Banks Under Investigation. Yet Again.
It wouldn’t be a week without the world’s criminal banks coming under investigation illegal activity and this week didn’t disappoint as six of the world’s largest banks are under investigation for possible foreign-exchange market rigging, […]
China Claims To Have Created World’s First Facial Recognition ATM
The days of remembering PIN numbers and passwords may soon be coming to an end as China claims to have unveiled the first facial recognition ATM machine in the world. The facial recognition technology prevents […]