Thursday, January 22, 2015

Suspected Bank Robber Arrested After Bomb Scare In Salt Lake City

Suspected Bank Robber Arrested After Bomb Scare In SLC

Snippet of Article: "...A bank robbery turned into a bomb scare that lasted for 3 tense hours Thursday. Salt Lake City Police say that Joshua Anthony Silva entered the Zions Bank at 910 West, 2100 South, approached a teller and said he had a bomb as he opened his coat to display an explosive-type vest. ..."


Tuesday, January 20, 2015

Major British Banks Say Bitcoin Is Risky And Could Help Terrorists

Major British Banks Say Bitcoin Is Risky And Could Help Terrorists

Snippet of Article: "...Banks are concerned about the threat Bitcoin is to sterling and that it may aid criminals due to the anonymous nature of the virtual currency...."


Thursday, January 15, 2015

Switzerland’s central bank triggers unprecedented turmoil in the currency market

Swiss Franc Move Sets Markets Quaking

Swiss Francs
Snippet of Article: "...Switzerland’s central bank triggered unprecedented turmoil in the currency market on Thursday after it unexpectedly scrapped a cap on the franc-euro rate, underscoring the difficulty central banks have protecting their economies from developments beyond their borders. ..."

Monday, December 29, 2014

The billionaires' banker: Byron Trott

Byron Trott: The billionaires' banker

Snippet of Article: "...Byron Trott has long been a trusted advisor to clients with names like Buffett, Walton, and Prizker. Now the ultra-discreet financier is raising his profile by investing alongside them. ..."


Wednesday, November 12, 2014

5 Big Banks Fined $3.3 Billion in Foreign Exchange Scandal

5 Big Banks Fined $3.3 Billion in Foreign Exchange Scandal

Snippet of Article: "... One Bank of England official was aware that bank traders were sharing information for so-called matching, a practice that is not illegal but that could involve collusive activity and lead to other market participants being disadvantaged, the central bank said. The employee did not properly report these issues...."


Tuesday, November 4, 2014

Bitcoin continues

Bitcoin is Inevitable, say Israeli Politicians and Central Bankers

Snippet of Article: "... “There were speakers from Israeli Parliament as well as the Central Bank of Israel. I remember my jaw hitting the floor when I heard a Central Banker make reference to when Bitcoin becomes systematically valuable, just like the dollar or euro. Not if, but when.”..."


Saturday, November 1, 2014

Did you know about these tax breaks?

10 tax breaks enjoyed by the rich

Snippet of Article: "...After you reach age 59½, all the income and gains that accumulate in the Roth account can be withdrawn federal-income-tax-free, as long as you’ve had at least one Roth IRA open for more than five years. If federal income-tax rates go up in the future, the balance in your Roth IRA is blissfully unaffected. If you die, your heirs can dip into your Roth account without owing any federal income tax, as long as the account has been open for more than five years. Roth IRAs are exempt from the dreaded required minimum distribution (RMD) rules ..."


The consequences of extreme inequality are harmful to everyone

Show me the money: JPMorgan bankers top City pay grades at £461k a year

Snippet of Article: "... “In a world where hundreds of millions of people are living without access to clean drinking water and without enough food to feed their families, a small elite have more money than they could spend in several lifetimes,” Oxfam's chief executive, Mark Goldring, said. “The consequences of extreme inequality are harmful to everyone - it robs millions of people of better life chances and fuels crime, corruption and even violent conflict. Put simply, it is holding back efforts to end poverty.” ..."


Thursday, October 30, 2014

Update on investigations into the manipulation of various Libor-linked interest rate

Ex-Employee of Broker in Britain Charged in Libor Inquiry

Snippet of Article: "...Barclays, the Royal Bank of Scotland, the Lloyds Banking Group, UBS, ICAP and the Dutch lender Rabobank have paid a total of more than $3 billion in fines to the British and American authorities related to investigations into the manipulation of various Libor-linked interest rates. ..."


Darrell Issa Smells Another Obama Scandal In Bank Fraud Cases

Darrell Issa Smells Another Obama Scandal In Bank Fraud Cases

Snippet of Article: "...Anti-money laundering laws have long barred banks from moving illegal cash through the financial system. Banks, as a result, have to keep tabs on their customers and make sure they aren't processing payments or harboring cash for organized crime, drug cartels or petty scammers. ..."


Wednesday, June 11, 2014

European Union regulators accused ICAP of helping banks manipulate yen Libor benchmark interest rate

EU Accuses ICAP of Helping Banks Manipulate Yen Libor

Snippet of Article: "...European Union regulators on Tuesday accused interdealer broker ICAP PLC of helping banks manipulate the yen Libor benchmark interest rate, three weeks after filing similar allegations against three banks. ..."


Saturday, June 7, 2014

"disproportionate" American justice

Mistrals and BNP Paribas: the first real disagreement between Obama and Holland

Mistrals et BNP Paribas : les premiers vrais désaccords entre Obama et Hollande

Snippet of Article: "...Le désaccord couvait depuis des semaines. Le président Hollande avait écrit le 7 avril une lettre à son homologue pour critiquer l'amende « disproportionnée » que la justice américaine envisageait d’infliger à la BNP Paribas. Un geste inhabituellement formel, sachant que les deux présidents ont des consultations téléphoniques fréquentes, mais qu'on attribue, selon des sources diplomatiques (la Maison Blanche s'étant refusée de commenter la teneur de ce message), au souci d'entrer dans le détail du dossier. ..."


BNP Paribas fined for breaking trade sanctions by evading US sanctions against countries including Iran, Sudan and Cuba.

France Warns $10bn BNP Paribas Fine Could Scupper US-EU Trade Deal

Snippet of Article: "...France's finance minister warned that there could be a weakening of trust in his country's relationship with the US if a proposed $10bn (£6bn, €7.3bn) fine, imposed on BNP Paribas for breaking trade sanctions, goes ahead. ..."


Wednesday, June 4, 2014

Kingdom of Belgium: hosts the EU's headquarters and is a founding member of the European Union


Snippet of Article: "...officially the Kingdom of Belgium, is a federal monarchy in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters as well as those of several other major international organisations such as NATO.[nb 1] Belgium covers an area of 30,528 square kilometres (11,787 sq mi), and it has a population of about 11 million people. ..."


Tuesday, June 3, 2014

Hackers steal roughly $824,000 from one company's bank accounts on one day alone

European bank hackers stole $100 million, U.S. says

Snippet of Article: "...The indictment against Bogachev concerns only one victim, Haysite Reinforced Plastics of Erie, in northwestern Pennsylvania. According to the indictment, the conspirators were able to steal roughly $824,000 from the company's bank accounts on one day alone, Oct. 20, 2011. ..."


Wednesday, March 5, 2014

Bank stocks could soon double

Bank stocks to double, says Dick Bove

Snippet of Article: "... Between record quarterly earnings results and a strong economic forecast for the United States, bank stocks could soon double ..."


Monday, March 3, 2014

Nutella, tech, M&M's and hedge funds ...making the wealthy wealthier

What makes Forbes' world's richest people rich? Tech, hedge funds and ... Nutella

Snippet of Article: "...Confections have proved lucrative to others. Also on the list are siblings Forrest Mars Jr., Jacqueline Mars and John Mars, owners of Mars, which invented the malt-flavored nougat in Milky Way and Snickers bars and later M&M's, at No. 31 with $20 billion...."


Wednesday, February 26, 2014

Who are American clients that evaded U.S. taxes using Credit Suisse?

Who are American clients that evaded U.S. taxes using Credit Suisse?

Snippet of Article: "... alleged large-scale tax evasion scheme more than twice the size originally thought, according to a report by the US Senate Permanent Subcommittee on Investigations...."


Monday, February 17, 2014

Libor manipulation probe

Ex-Barclays employees charged in Libor probe

Snippet of Article: "...The resulting changes helped benefit banks' trading positions, but allegedly skewed the rates borrowers were charged on mortgages, other loans or credit cards. ..."


Friday, February 14, 2014

Federal Guidance Provided To Permit Financial Institutions To Provide Services To Marijuana-Related Businesses

Federal Guidance Provided To Permit Financial Institutions To Provide Services To Marijuana-Related Businesses

Due to the fact that 20 states and the District of Columbia have legalized certain marijuana-related activity, the U.S. Department of Justice Deputy Attorney General James M. Cole has issued a memorandum, known as the Cole Memo, which provides guidance to federal prosecutors concerning marijuana enforcement under the CSA. The Cole Memo guidance applies to all of DOJ’s federal enforcement activity, including civil enforcement and criminal investigations and prosecutions, concerning marijuana in all states. The Cole Memo reiterates Congress ’s determination that marijuana is a dangerous drug and that the illegal distribution and sale of marijuana is a serious crime that provides a significant source of revenue to large-scale criminal enterprises, gangs, and cartels. The Cole Memo notes that DOJ is committed to enforcement of the CSA consistent with those determinations. It also notes that DOJ is committed to using its investigative and prosecutorial resources to address the most significant threats in the most effective, consistent, and rational way. In furtherance of those objectives, the Cole Memo provides guidance to DOJ attorneys and law enforcement to focus their enforcement resources on persons or organizations whose conduct interferes with any one or more important priorities known as the Cole Memo priorities” found in the Cole Memo, as referenced by The Financial Crimes Enforcement Network (“FinCEN”). All of this basically relates to issuing guidance to clarify Bank Secrecy Act (“BSA”) expectations for financial institutions seeking to provide services to marijuana-related businesses. This FinCEN guidance clarifies how financial institutions can provide services to marijuana-related businesses consistent with their BSA obligations, i.e. due diligence.

Reference: The Banker Daily Briefing

Monday, September 9, 2013

Population of U.S. banks has dwindled rapidly

Bank Population Shrinks Rapidly Amid Lull in Startups

Snippet of Article: "...The population of U.S. banks has dwindled rapidly over the last three years — to below 7,000 — even though the pace of failures has abated and merger activity has slowed. ..."


Friday, September 6, 2013

Map of America' failed banks

MAP: America's Failed Banks

Snippet of Article: "...all the bank failures in America from 2007 to the present day. ..."


Sunday, April 21, 2013

Will 'Too Big to Fail' happen again?

Treasury Official Says ‘Too Big To Fail’ Bailouts Of Banks Won’t Happen Again

Snippet of Article: "...U.S. Treasury official Mary Miller said in prepared remarks Thursday evening at a financial industry gathering held in Manhattan that “No financial institution, regardless of its size, will be bailed out by taxpayers again.” ..."


Tuesday, January 22, 2013

Regions Financial Corp. generated $265 million in net income in the fourth quarter

Regions' 2012 net income exceeds $1.1 billion

Snippet of Article: "... Regions grew its commercial and industrial loans over the last three months of 2012, with total commercial and industrial commitments growing by $1.4 billion, the release said. Commercial loan production, including renewals, was $10.4 billion, with $4.3 billion of that coming from new loan origination. ..."


Wednesday, January 11, 2012

Chase sold thousands credit-card accounts to collections agencies without

The Banker Finds Possible “Trouble” at Chase

Snippet of Article: "...You read that right. Chase sold thousands credit-card accounts to collections agencies without the correct balances. ..."


Wednesday, September 21, 2011

U.S. government is getting less comfortable with bailing out large troubled lenders

Moody's downgrades big banks on changed policy

Snippet of Article: "...(Reuters) - Moody's Investors Service lowered debt ratings for Bank of America Corp, Citigroup Inc and Wells Fargo & Co on Wednesday, saying the U.S. government is getting less comfortable with bailing out large troubled lenders. ..."


Friday, September 9, 2011

Yahoo gets advise from bankers

Yahoo Begins to Line Up Its Bankers

Snippet of Article: "...UBS Investment Bank is already working with Yahoo on a possible sale of the Internet company’s stake in Yahoo Japan, and also advised ..."


Wednesday, July 6, 2011

Investors fighting back against a proposed Bank of America settlement

Investors challenge Bank of America settlement

Snippet of Article: "..."Walnut Place has serious concerns about the secret, non-adversarial and conflicted way in which the proposed settlement was negotiated and about the fairness of the terms of the proposed settlement," the filing stated...."


Saturday, July 2, 2011

Rep. Darrell Issa (R-CA) raised hell last year to stop investigatiion of Goldman Sachs

Darrel Issa Stocked Up on Goldman Sachs Bonds While Blocking Its Investigation

Snippet of Article: "... Think Progress finds that Issa was busy last year buying up Goldman Sachs High Yield Bonds worth up to $50,000 a pop while pressing strongly to thwart an SEC investigation into potential wrongdoing at Goldman Sachs:..."


Tuesday, June 14, 2011

'Federal Reserve’s policies are systematically looting the country'

‘Anonymous’ Hacker Group Identifies Fed as Target on YouTube

Snippet of Article: "...“The Federal Reserve’s policies are systematically looting the country to enrich one 10th of 1 percent of the population,” a distorted voice said on the video. ..."


Bank interchange fee debate

Bankers Hope to Make Lemonade From Senate Swipe Fee Vote

Snippet of Article: "... Bankers lost the Senate fight over interchange fees, but they are hoping the vote will help convince the Federal Reserve Board to raise its proposed 12-cent cap...."


Sunday, June 5, 2011

Basel III

EU regulator wants tougher U.S. banker bonus rules

Snippet of Article: "... A top European regulator on Friday raised concerns about consistency between the U.S. and Europe on banker bonus rules, insisting the U.S. hasn’t implemented as tough regulations..."


Friday, May 27, 2011

Secret Fed loans gave billions to overseas banks? You should be outraged!

Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis Peak

Snippet of Article: "... “What in the world are we doing thinking we can pass out tens of billions of dollars to banks that are overseas?” said Paul, who has advocated abolishing the Fed. “We have problems here at home with people not being able to pay their mortgages, and they’re losing their homes.” ..."


Thursday, May 26, 2011

Life is hard for the wealthy

Dominique Strauss-Kahn moves to townhouse in New York

Snippet of Article: "... The agreement is expected to cost him about $200,000 a month. The town house includes a state-of-the-art theatre, gym, spa and four bathrooms...."


Home prices fall again

U.S. Home Price Index Fell 2.5% in First Quarter of This Year

Snippet of Article: "...seasonally adjusted purchase-only home price index. ..."


Tuesday, May 17, 2011

UBS Bankers Bail

UBS Exodus: A List of Bankers That Left

Snippet of Article: "...In the last three months, at least 13 senior U.S. bankers have left UBS, including Kevin Cox, ..."


Sunday, May 15, 2011

Dominique Strauss-Kahn , IMF chief arrested

IMF chief arrested in alleged sex assault

Snippet of Article: "...The head of the International Monetary Fund was charged early Sunday in connection with the alleged sexual assault of a housekeeper at a Manhattan hotel Saturday, a New York police spokesman said. ..."


Saturday, May 14, 2011

The leader of the International Monetary Fund being questioned

IMF chief detained on N.Y. sex assault charge

Snippet of Article: "...Dominique Strauss-Kahn was taken off the Air France flight at John F. Kennedy International Airport by officers from the Port Authority of New York and New Jersey and turned over to police Saturday afternoon, said Paul J. Browne, New York Police Department spokesman. ..."


Sunday, April 24, 2011

Countrywide Mortgage Investor Lawsuit

Bank of America Dismissed From Countrywide Mortgage Investor Lawsuit

Snippet of Article: "...request to dismiss the claim against it on grounds that it can't be held liable for actions of a unit ..."


Tuesday, April 19, 2011

Regions Bank Exceeds Expectations

Regions Tops Estimates With a Penny Profit

Snippet of Article: "...BIRMINGHAM, Ala. (TheStreet) -- Regions Financial on Tuesday reported first-quarter net income available to common shareholders of $17 million, or a penny a share, above the expectations of analysts who were forecasting a loss of 10 cents a share. ..."