Search Results for: financial institutions
US Justice Dept hits 80 Swiss banks with penalties
February 1st, 2016
Eighty Swiss banks have agreed to pay the US fines totaling $1.36 billion in order to avoid court prosecution, according to the US Justice Department. After the investigation has been completed all the banks are required to cooperate in ...
The Illusion of Safety: Index Funds Are Not Low-Risk
January 29th, 2016
If the risk-on euphoria of punters borrowing billions of dollars in margin debt doesn’t materialize, stocks could languish for years after falling 50%. The financial service industry’s Prime Directive is to exploit humanity’s core drives of Greed and Fear. ...
Central Bank of Japan decided to adopt a negative interest rate policy
January 29th, 2016
The Bank of Japan (BOJ) has issued an announcement to inform that on its meeting held on January 29, the Policy Board decided to introduce “Quantitative and Qualitative Monetary Easing (QQE) with a Negative Interest Rate” in order to achieve the ...
China’s Central Bank Discusses Digital Currency Launch
January 21st, 2016
The People’s Bank of China (PBoC), the country’s central bank, is moving toward the launch of its own digital currency. The PBoC said in a 20th January release that it had held a meeting discussing the possibility in Beijing. Attendees included central bank governor Zhou Xiaochuan and ...
The Top 10 (or 11) Bitcoin-Friendly Cities
January 18th, 2016
Looking to spend bitcoin on your travels? Your chances are much greater in the US. Seven of the top 11 cities with the most merchants that accept bitcoin are in the U.S., based on information from coinmap.org. San Francisco/San ...
SEC Charges Goldman Sachs
January 15th, 2016
SEC Charges Goldman Sachs With Improper Securities Lending Practices The Securities and Exchange Commission announced that Goldman, Sachs & Co. has agreed to pay $15 million to settle charges that its securities lending practices violated federal regulations. According to the ...
SEC Charges 11 Bank Officers and Directors With Fraud
January 14th, 2016
The Securities and Exchange Commission today announced fraud charges against 11 former executives and board members at Superior Bank and its holding company involved in various schemes to conceal the extent of loan losses as the bank was faltering ...
U.S. Supreme Court rejects former UBS executives’ appeals
January 12th, 2016
The U.S. Supreme Court on Monday declined to hear an appeal filed by three former executives of Swiss global investment bank UBS AG (UBSG.VX) convicted of conspiring to deceive U.S. cities and towns by rigging bids to invest municipal ...
Banks Get Relief on Accounting Headache
January 7th, 2016
New treatment to alter lenders’ debt-value adjustments The banking industry’s least-favorite accounting rule is being scrapped. Accounting rule-makers on Tuesday changed a provision that in recent years has resulted in huge—and often head-scratching—swings in bank earnings. James Dimon, J.P. Morgan Chase & ...
Chase, Wal-Mart Seek to Disrupt Mobile Payments Business in 2016
January 4th, 2016
Banks and retailers move to capture tap-and-pay transactions Apple, Google will see new competition in evolving market American consumers will have more choices in 2016 for how they make purchases with their smartphones as big banks and retailers vie ...
