Failed Banking

Wednesday, 27 September 2023

Latest News for: Failed banking

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UBS seeks to wipe out €1.8bn tax fine at top French court

Swissinfo 27 Sep 2023

It’s featured failed settlement talks, a banking boss calling his staffers “egomaniacs”, a whistle blower spying on former colleagues during tennis matches at the French Open and investigators ...

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62% of pension holders worry about not saving enough - Bank of Ireland

RTE 27 Sep 2023

Only 46% of people understand how pensions work, while just 39% are aware of the tax breaks associated with having a pension, new research from Bank of Ireland reveals ... But it added that this type of saving, which due to the ongoing cost of living challenges is a necessity for many, is failing to adequately fund people's future.

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KDIC strengthens cooperative exchanges with U.S. FDIC

Korea Times 27 Sep 2023

Park ... government corporation that supplies deposit insurance to depositors in American commercial banks and savings banks ... The SRB is the central resolution authority within the European Banking Union, which includes 20 eurozone countries and Bulgaria, to ensure an orderly resolution of failing banks and to protect the taxpayer from state bail-outs. .

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Where the Republican presidential candidates stand on 5 key economic issues

Killeen Daily Herald 27 Sep 2023

Banking ... Banking ... Banking ... Banking ... As a member of the Senate Banking Committee, Scott has proposed a bipartisan bill that would allow — but not require — regulators to force some executives at failed banks to return some of their compensation, impose penalties and block them from going to work at other banks ... Banking.

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Higher academic institutions agree on forming India’s first ‘HEIs-led Agri-consortium’

Financial Express 27 Sep 2023

IIM Kashipur FIED sanctions 1.6 crore funding to 10 agriculture focused start-ups. Follow Us ... Byju’s set for cultural change. CEO. A day after vowing cultural change at Byju’s, new CEO mat lay off 4,000 ... Additionally, we are going to establish a knowledge bank for failed startups in the agricultural industry to provide insights into their failures ... .

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ANZ fined $15million for misleading customers

The Daily Mail 26 Sep 2023

The bank failed to inform customers that their credit card account balances were lower than indicated, slugging them with unexpected fees and interest when they took out cash advances ... 'ASIC will continue to take action against banks who fail in their duty to act efficiently, honestly and fairly in dealings with customers'.

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Inflation: I've been analysing the Bank of England's forecasts over the past two years – ...

The Conversation 26 Sep 2023

The Bank of England (BoE) has been strongly criticised for failing to predict the surge in inflation ... The bank acknowledges this failing and has asked former Federal Reserve chairman Ben Bernanke to lead a review of its forecasting models for both inflation and GDP growth.

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Column: Jeffrey Epstein reaches from the grave to expose how JPMorgan profited from his sex trafficking

The Los Angeles Times 26 Sep 2023

Prior to the settlement, Rakoff found that trial could proceed on allegations that the banks 'knowingly benefited from participating' in Epstein's sex-trafficking,' obstructed enforcement of the antitrafficking law, and 'negligently failed to exercise reasonable care' in their banking operations to prevent injury to the victims.

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Exclusive: JPMorgan shuffles bosses as Rivas to retire as head of North American investment banking -memo

Reuters 26 Sep 2023

Rivas, who previously ran the financial institutions group, was one of JPMorgan's lead negotiators in its purchase of failed First Republic Bank in May ... The bank also appointed several global heads for industry groups reporting to Jim Casey and Vis Raghavan, who jointly lead global investment banking, effective immediately.

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Financial literacy: Ken Ofori-Atta’s ‘standing strong with the Bank of Ghana’ is understandable

B & FT Online 26 Sep 2023

... support for the Bank of Ghana (BoG) ... Furthermore, the article failed to highlight the construction of a new Bank of Ghana edifice, valued at GH¢2.7billion ... The article points out that several central banks globally have experienced losses, but it fails to address the key question.

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Jamie Dimon on interest rates: ‘I am not sure the world is prepared for 7%’

Market Watch 26 Sep 2023

One worry Dimon does not share, however, is the combination of social media and digital banking. “Social media and online banking existed during the great financial crisis. Only a handful of banks had the problem — Silicon Valley Bank, First Republic Bank and Signature ... I do not think we want a system where no bank ever fails.”.

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JPMorgan agrees to $75 million settlement over ties to Jeffrey Epstein

The Spokesman-Review 26 Sep 2023

The banking giant admitted no wrongdoing under the terms of the settlement, a large portion of which will be distributed to charities ... It follows months of embarrassing discovery and depositions, showing that bank executives were informed of suspicious activity as early as 2006 but failed to fire Epstein as a client until 2013.

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ANZ Hit with $15 Million Fine for Misleading Almost 200,000 Customers

Finance Magnates 26 Sep 2023

The bank had falsely indicated that customers could access their "Available Funds" without incurring any additional fees or interest, a claim that later proved incorrect ... "ASIC will continue to take action against banks who fail in their duty to act efficiently, honestly and fairly in dealings with customers," concluded Court.

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Mastercard, EQ Bank Leaders Elevate Role on Canadian Prepaid Providers Organization (CPPO) Board of Directors

Canada Dot Com 26 Sep 2023

We apologize, but this video has failed to load ... Mastercard, EQ Bank Leaders Elevate Role on Canadian Prepaid Providers ...

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MONEY DONE OUR WAY: h.way, A DIGITAL ACCOUNT FOR HISPANICS, BY HISPANICS, LAUNCHES IN THE US

Longview News-Journal 26 Sep 2023

This digital bank account service empowers customers to securely withdraw or deposit cash at over 60,000 ATM locations at no charge ... H.way is not a bank ... While there, your funds are insured up to $250,000 by the FDIC in the event Metropolitan Commercial Bank fails if specific deposit insurance requirements are met and your card is registered.