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 […]
Tag: banksters
Scandal Plagued Deutsche Bank Closing Its Russian Operations
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 […]
Justice Department Claims It Will Now Jail Crooked Wall Street CEOs But Will It Actually?
The U.S Justice Department has outlined back breaking guidelines on the prosecution of corporate executives in criminal matters. Long condemned for their lackluster lenience in going after Wall Street executives, the department is now launching […]
High Frequency Trading Firm Citadel Receives Three Month Ban From Chinese Markets
In its latest attempt to stabilize China’s stock exchange and economy as a whole, the Chinese government has imposed a three-month trading suspension on several trading accounts, with one being Citadel Shanghai Trading, a subsidiary […]
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 […]
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 […]
Citigroup Being Investigated Over Shady Consumer Lending Practices
New reports have emerged that Citigroup Inc. is under investigation by the Consumer Financial Protection Bureau (“CFPB”) regarding its student loan servicing practices. Although Citigroup did not specifically name the agency conducting the investigation, it […]
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 […]
DOJ Probing Mega Banks HSBC, Standard Chartered For FIFA Scandal Money Laundering
In the latest development in the seemingly made-for-Hollywood events surrounding the FIFA scandal, United States regulators are probing major banks over their possible handling and processing of “tainted funds.” The investigation is focused on whether […]
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 […]
Another Week, Another Criminal Conspiracy At Deutsche Bank
It appears U.S. authorities aren’t finished with thinly disguised criminal racket Deutsche Bank after it emerged this week that regulators are beginning yet another investigation into criminal conduct by the bank, this time looking into a […]
JPMorgan Chase To Pay $136M For Illegal Debt Practices
The Consumer Financial Protection Bureau has charged JPMorgan Chase with yet another criminal misdeed, this time for its illegal debt collection practices. These include using illegal collections tactics that were targeted at credit card borrowers […]
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, […]
FIFA Scandal Noose Tightens As Third Largest Swiss Bank Launches Internal Probe
As we’ve seen over the last eight years, global mega-banks rarely launch internal investigations on their own volition. Instead they come one step ahead of a legal inquiry into their criminal activities, whether that’s market […]
Citigroup Found To Be Enabling Vast Money Laundering In Latest Act Of Bank Criminality
The U.S. Justice Department’s criminal investigation into money laundering at Citigroup Inc.’s Banamex USA unit has unearthed violations serious enough to warrant a large fine under the Bank Secrecy Act, according to reports. The criminal […]
Heads Of Criminal Banking Racket Deutsche Bank To Step Down
After an extraordinary meeting held over the weekend, the two current co-chief executives of criminal banking giant Deutsche Bank, Anshu Jain and Jürgen Fitschen, are stepping down, the bank announced Sunday. Yet, like their peer […]
SEC Hires Goldman Banker To Regulate His Former Employer. Again.
The SEC proudly announced on Thursday what is perhaps the first ever double revolving door in SEC history: It has had hired a former Goldman worker as its new chief of staff, who before Goldman […]
While Feds Ready Criminal Charges Against GM Engineers, Wall Street Walks Free
Proving that Wall Street is always above the law, federal prosecutors are said to be filing criminal charges against General Motors Co. over a faulty ignition switch linked to more than 100 deaths. The charges […]
SEC Commissioner Appalled By Latest Wall Street Criminal Acts
While the bandits of Wall Street sidestepped yet another criminal prosecution and yet again got off without anyone going to jail yesterday, one member of the Securities and Exchange Commission has, like us, had enough. […]
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 […]
Nobody In Jail After Yet Another Record Bank Scandal
It wouldn’t be a week in America without a criminal banking scandal and this week did not disappoint. BNP Paribas SA was sentenced to just five years probation by a U.S. judge on Friday in […]