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Banking News

French court authorises extradition of Kazakh tycoon Ablyazov

Lyon - A French court on Friday authorised the extradition of exiled Kazakh oligarch Mukhtar Ablyazov to Russia and Ukraine, despite concerns over his safety if the move goes ahead.

Judge sets 3-mn-euro bail for ex-IMF head in credit card scandal

Madrid - A Spanish judge on Thursday ordered ex-IMF head Rodrigo Rato to pay a three-million-euro bond as a court probes allegations that former bank bosses spent millions on nightclubs, safaris and other treats using company credit cards.

JP Morgan the victim of an 8-week long cyber attack

New York - This summer's hackers discovered a way into the servers of mega-bank JP Morgan Chase, exposing the backdoor vulnerability to access copious amounts of customer and company data.

French rogue trader Jerome Kerviel wins conditional release

Fleury-m - Jerome Kerviel, the French rogue trader who brought one of Europe's biggest banks to the verge of ruin with nearly five billion euros in losses, left prison Monday after winning conditional release."I am super happy to leave today ...

Cyprus parliament adopts crucial foreclosure bill

Nicosia - The Cypriot parliament adopted Saturday a controversial bill to streamline bank foreclosures of bad debts, clearing the way for international lenders to release the next tranche of a 10 billion euro loan.

French 'rogue trader' Kerviel to be freed from prison

Paris - Jerome Kerviel, the rogue trader imprisoned after losing nearly five billion euros through risky bets at French bank Societe Generale, will be freed next week, his lawyer said Thursday.

World financial teen literacy assessed: U.S. ranks only average Special

Paul Golden, of the National Endowment for Financial Education, speaks with Carol Ruth Weber about the importance of teaching teens to be financially literate. Read the full interview for Golden's tips on how to educate children to be money-wise.

Standard Chartered fined $300 mn over laundering controls

New York - New York state's banking regulator Tuesday hit Standard Chartered Bank with a $300 million fine and restrictions on its dollar-clearing business for failing to detect possible money-laundering.

Body of Liechtenstein 'Robin Hood' murder suspect believed found

Geneva - Liechtenstein police said Thursday that their German counterparts had found what was believed to be the body of a self-styled "Robin Hood" suspected of killing a banker in the Alpine statelet.

Bank provokes outrage from Muslims after shutting down accounts

City Of London - Authorities with HSBC Holdings have shut down multiple bank accounts citing that they were "outside of our risk appetite". Activists are responding by calling the practice "Islamaphobic" and demanding an explanation.

BNP, U.S. prosecutors 'near settlement for $9 billion'

New York - BNP Paribas has neared a deal with U.S. prosecutors that would see the French bank pay $8 billion to $9 billion and accept other punitive measures for violating American sanctions, The Wall Street Journal reports.

Majority do not understand differences between credit cards

A large number of credit card users do not fully understand their card's terms, benefits and rewards program, and have trouble selecting between different types of cards. This is according to an annual survey of credit card users.

Pope tells super rich, bankers to find some ethics

Rome - Pope Francis on Monday denounced those getting rich through speculation in financial markets, calling on them to use their investments for the good of humanity.

Bitcoin exchange MtGox placed in administration: CEO

Tokyo - Failed Bitcoin exchange MtGox was Wednesday placed in administration by a Japanese court, with an order for bankruptcy expected to be issued soon, its administrator and chief executive said.

Rogue trader Kerviel behind bars after two-month walk

Nice - Six years after his first arrest, French rogue trader Jerome Kerviel was Monday beginning a three-year prison term for his role in the near collapse of Societe Generale bank.

Rogue trader heads to France on foot as prison deadline looms

Ventimiglia - Rogue trader Jerome Kerviel, who has spent two months walking from Rome to protest his treatment by the courts, resumed his march toward France where he is due to start a three-year prison term on Sunday.

Bitcoin exchange MtGox placed in administration: CEO

Tokyo - Failed Bitcoin exchange MtGox was Wednesday placed in administration by a Japanese court, with an order for bankruptcy expected to be issued soon, its administrator and chief executive said.

'Credit Suisse subpoened in tax-evasion probe'

New York - A New York regulator probing Credit Suisse's role in enabling tax evasion has demanded a trove of additional documents from the bank, a person familiar with the situation said Tuesday.

European parliament adopts financial markets rules

Strasbourg - The European Parliament adopted new rules Tuesday to tighten the regulation of financial markets in order to stop rampant speculation, including on foodstuffs.

European Parliament approves 'banking union' reforms

Strasbourg - The European Parliament approved on Tuesday the last elements of a new set of rules to prevent failing banks from ever again driving EU member states into bankruptcy.

Citi profits up 3.5% on lower costs, improved credit

New York - Citigroup reported slightly higher quarterly earnings on Monday, as lower expenses and credit losses helped offset revenue declines in mortgage finance and trading.

Citigroup cuts 200-300 jobs: report

New York - US bank Citigroup has cut between 200 and 300 additional jobs, most in the global markets business, The Wall Street Journal reports.Some of the employees were fired, while others left voluntarily.

Greece's Eurobank to seek 2.86-bn euro capital hike

Athens - Greece's Eurobank on Saturday said its board had approved a 2.86-billion-euro ($4-billion) capital increase, in the latest move by one of the country's biggest lenders to bolster its reserves."The general meeting approved...

Op-Ed: UK banking cyber-attack test draws attention

During the last few years, there has been increase in security issues affecting stock markets and investors. Cyber criminals now pose a larger threat to corporate and personal information.

US charges nine in million-dollar bank hacking case

Washington - US officials said Friday that nine people, including three Ukrainians and a Russian, were charged in a scheme that stole millions of dollars by hacking into online bank accounts.

Wells Fargo earnings rise as credit quality improves

New York - Wells Fargo Friday reported higher earnings on better credit quality as increases in industrial and commercial loans offset declines in many home-lending categories.Wells Fargo, the nation's largest mortgage lender, said first-quarter earnings were $5....

JPMorgan earnings fall 19% on lower mortgage income

New York - JPMorgan Chase Friday reported lower earnings due to a drop in its mortgage business as the US banking giant seeks to turn the corner after costly legal settlements.

Spain's rescued Bankia sells Iberdrola stake

Madrid - Spain's Bankia, rescued by the state from near financial collapse in 2012, announced Thursday it had raised 1.53 billion euros ($2.1 billion) by selling its stake in energy giant Iberdrola.

Deutsche Bank manager suspended in forex probe

Frankfurt - Deutsche Bank, Germany's biggest lender, has suspended a top saleswoman in an investigation into suspected foreign exchange rate manipulation, the Wall Street Journal reported on Thursday.

Royal Bank of Scotland to pay government £1.5bn

London - Britain's state-rescued Royal Bank of Scotland will pay the government £1.5 billion in a complex deal paving the way for the return of shareholder dividends.The bank has agreed to pay the Treasury the equivalent of $2.5 billion or 1.
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The Euro sign outside the European Central Bank in Frankfurt  Germany
The Euro sign outside the European Central Bank in Frankfurt, Germany
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A Barclays bank in Birmingham  UK
A Barclays bank in Birmingham, UK
ell brown
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Untitled
Photo by Global X via Flickr
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UBS logo
UBS logo
Fabrice Coffrini
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Members of the organization have called on their supporters to boycott HSBC and see it as a test of ...
Members of the organization have called on their supporters to boycott HSBC and see it as a test of their faith.
YouTube
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Bank of America ATM
Bank of America
Brian Katt
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GIANT: Credit Suisse headquarters at Paradeplatz in Zurich  Switzerland.
GIANT: Credit Suisse headquarters at Paradeplatz in Zurich, Switzerland.
Roland zh/Wikimedia Commons
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The Credit Lyonnais (now LCL) bank headquarters in Paris France
The Credit Lyonnais (now LCL) bank headquarters in Paris France
Wikicommons
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