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Lending News

US slams World Bank lending to rich countries like China

Washington - World Bank lending to countries like China that are rich enough to finance their own development hurts poor countries that need help, a senior US Treasury official said Wednesday.

China jails 26 over $7.6 bn Ponzi scheme

Bejing - Two senior executives of a collapsed peer-to-peer lender were sentenced to life in prison and 24 others punished over what has been called China's biggest-ever Ponzi scheme, state media reported Tuesday.

Peer to peer lenders 'crowd-fund' your debt

A new wave of websites springing up online look to help savers looking for a good return by matching them with the best individual companies or borrowers in "peer-to-peer" lending, creating a mutually beneficial scenario with interest of up to 6%.

Ireland eyes new big player to boost banking sector

Ireland would like a "significant" new bank with a big balance sheet to enter its lending market this year to drive competition in the diminished sector, finance minister Michael Noonan said on Saturday...

Hunting credit, firms look beyond wary EU banks

When David Armitt needed to refinance loans last year for his 153-year-old manufacturing company in Yorkshire, he found British banks reluctant to lend. So he took the nuclear option.

Exclusive: World Bank aims to boost lending by 50 percent over 10 years

The World Bank hopes to boost its lending by 50 percent over 10 years by cutting costs, loosening a restriction on how much it can lend, and charging richer nations higher fees for some services, s...

Sen. Elizabeth Warren wants post office to offer banking services

Massachusetts Senator Elizabeth Warren proposed that post offices should offer non-bank financial services to help the underserved.

Russian man creates own credit card and sues bank for closing it

Moscow - A Russian man scanned a commercial credit card agreement and changed the terms of contract in his favor. After returning it signed to the lending bank, they failed to notice the trick and now a Russian court has backed him up.

Washington Post panel explores exports as business growth engine Special

Washington - At a breakfast event hosted by the Washington Post on Monday, a panel offered export-oriented solutions to the ongoing unemployment challenge facing the United States.

Obama Urges Banks to Start Lending

President Obama has started to urge banks to start lending in responsible ways to businesses. In light of recent TARP fund payments top bankers are now being challenged by the President.

Op-Ed: A few hundred billion later: Where’s all that money gone?

The new synonym for ‘destructive, useless and expensive’ is banks. After all the bailouts, all the desperate saving of financial institutions, and all the grief of the housing and investment markets, the banks are doing nothing.

Ottawa Will Guarantee Interbank Lending

The Canadian federal government has made a pledge to temporarily guarantee banks' medium and longer term borrowing in an attempt to keep pace with the multi-billion dollar financial rescues other countries offer.

Op-Ed: Subprime Troubles Become a Prime Power Grab

"If [people] have no clue what you are up to, they cannot prepare a defense. Guide them far enough down the wrong path, envelope them in enough smoke, and by the time they realize your intentions, it will be too late."
 

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