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Banking News

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.

Australia's NAB cuts ties with virtual currencies

Sydney - One of Australia's biggest banks confirmed Thursday it was distancing itself from digital currencies after reviewing its risk profile.

US Treasury sets IPO for Ally Financial

Washington - The US Treasury Department announced plans Wednesday for Ally Financial to raise $2.375 billion in a market debut as it winds down its rescue of the big bank.

Spain's Bankia says will sell Iberdrola stake

Madrid - Spain's state-owned bank Bankia, which was nationalised in 2012 to save it from collapse, said Wednesday it would sell its stake of 4.94 percent in Spanish utility Iberdrola.

IMF still worried about global fiscal, financial risks

Washington - Six years after a wave of financial destruction crashed through the United States and then Europe, risks, some old and some new, still challenge the global economy, the IMF says.

Activists block entrances to branches of Spanish bank

Barcelona - Anti-eviction activists blocked Wednesday the entrance to 12 branches of Spain's Banco Popular bank, which they accuse of not doing enough to prevent struggling mortgage holders from losing their homes.

Bank of America to pay for illegal credit-card actions

Washington - Bank of America will pay $772 million over illegal credit-card practices that lured consumers into signing up for added products and services, US regulators said Wednesday.

French court blocks Kazakh tycoon's extradition to Russia

Paris - A French court on Wednesday blocked the extradition of exiled Kazakh oligarch Mukhtar Ablyazov, an opposition figure wanted on embezzlement charges by Russia and Ukraine.
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Photo by Global X via Flickr
A Barclays bank in Birmingham  UK
A Barclays bank in Birmingham, UK
ell brown
UBS logo
UBS logo
Fabrice Coffrini
The Credit Lyonnais (now LCL) bank headquarters in Paris France
The Credit Lyonnais (now LCL) bank headquarters in Paris France
GIANT: Credit Suisse headquarters at Paradeplatz in Zurich  Switzerland.
GIANT: Credit Suisse headquarters at Paradeplatz in Zurich, Switzerland.
Roland zh/Wikimedia Commons
The Euro sign outside the European Central Bank in Frankfurt  Germany
The Euro sign outside the European Central Bank in Frankfurt, Germany
Bank of America ATM
Bank of America
Brian Katt
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.

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