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May 4, 2013

Bank of America $60 billion penalty due to lawsuits likely possible, analysts say

Bank of America $60 billion penalty due to lawsuits likely possible, analysts say
By in Banking, United States No comments

The Bank of America is likely to pay a total penalty of $60 billion due to lawsuits, this is what some analysts are now saying. The cases are related to mortgage-backed securities, which include the 530 mortgage trusts that were sold by Countrywide, as well as the estimated $108 billion in losses from some investors. […]


Mar 26, 2013

Philippine National Bank To Undergo Nationwide System Upgrade During Holy Week

PNB logo
By in Announcement, Asia, Banking, Business No comments

To further improve their service, Philippine National Bank (PNB) announced a nationwide system upgrade to be conducted during the Holy Week. Credit: PNB.com.ph According to their announcement published online at pnb.com.ph, all PNB branches will be closed from March 28, 2013 (Maundy Thursday) to March 30, 2013 (Black Saturday) including those branches that are normally […]


Mar 5, 2013

$1,800 ATM mistake: University of Delaware student returns money to PNC Bank

$1,800 atm mistake
By in Banking, Business, United States, World No comments

A campus ATM dispensed a total amount of $1,800 by mistake in the University of Delaware last February 1, 2013. Devon Gluck Credit: Linkedin Reports say that Devon Gluck, from Ellicott City, Maryland, was about to make a withdrawal at the university ATM when it suddenly dispensed 18 pieces of $100 bills. Gluck, a Delaware […]


Feb 3, 2013

Man with $70M check: Former Central Bank Chief Tahmasb Mazaheri caught by customs

Man with $70M check
By in Banking, Business, Middle East, World No comments

Man with $70M check, Tahmasb Mazaheri Credit: TopNews.in A man with a $70M check was reportedly caught by customs officials in Germany last month, according to a report by Bild am Sonntag on Sunday, February 3, 2013. The German newspaper reported that the former central bank chief of Iran, Tahmasb Mazaheri, was in possession of […]


Jan 18, 2013

$1 and $5 ATMs by Chase and PNC banks being rolled out, new ATM dispensing lower bills

$1 and $5 ATMs by Chase and PNC banks being rolled out, new ATM dispensing lower bills
By in Banking, Business, Finance, United States No comments

New $1 and $5 ATMs are now being rolled out in the US, which will allow customers to choose other than the usual bills they withdraw. Chase Bank and PNC Bank, which are being ranked the fourth and eighth largest banks in Central Florida, respectively, are the banks that operate these new machines. As noted […]


Dec 11, 2012

HSBC settlement: British bank to pay nearly $2 billion fine to US authorities over money-laundering case

HSBC Stuart Gulliver
By in Banking, Business, Europe, United States No comments

HSBC, a leading British multinational banking and financial services company, announced its agreement with United States authorities to pay them almost $2 billion, as settlement payment in relation to investigations concerning its inadequate compliance with anti-money laundering and sanctions laws. HSBC Group Chief Executive Stuart Gulliver Image Credit: Jerome Favre/Bloomberg According to the press release […]


Nov 20, 2012

JPMorgan Chase & Co. names Marianne Lake as its new CFO

JPMorgan Chase & Co. names Marianne Lake as its new CFO
By in Banking, Business, United States No comments

Image Credit: 4-traders.com JPMorgan Chase & Co¬†announced the name of their new CFO, Chief Financial Officer, on Monday, November 19, 2012. Marianne Lake, who serves as CFO for JPMorgan’s retail branch systems since 2009,¬†was named as CFO, making her one of the most powerful woman on Wall Street. According to finance.yahoo.com, from 2007-2009, she worked […]


Aug 15, 2012

Wells Fargo settlement to SEC case costs $6.5 million, bank agrees to pay

Wells Fargo settlement to SEC case costs $6.5 million, bank agrees to pay
By in Banking, Business, United States No comments

The Securities and Exchange Commission (SEC) announced on Tuesday, August 14, 2012 that Wells Fargo agreed to a $6.5-million settlement to the charges filed against the brokerage firm; when it allegedly sold troubled mortgage investments without fully researching the products or disclosing the risks to customers. Wells Fargo logo Image Credit: WellsFargo.com According to a […]


Jul 10, 2012

Missing Georgia banker being sought with $20,000 reward, who allegedly ran away with $17 million

Missing Georgia banker being sought with $20,000 reward, who allegedly ran away with $17 million
By in Banking, United States No comments

A Georgia banker has reportedly been missing for a month and federal authorities are currently looking for him, after learning that he allegedly took with him millions of dollars from a bank investment in the span of two years, with FBI now offering a $20,000 reward for any information that would lead to his arrest. […]


Jul 3, 2012

Bob Diamond resigns as Barclays CEO amid interest rate fixing controversy

Bob Diamond resigns as Barclays CEO amid interest rate fixing controversy
By in Banking, Business, Europe, United States No comments

Updated: February 12, 203 6:00 p.m. Read Barclays cuts 3,700 jobs, as part of British bank’s structural review and to reduce cost Barclays CEO Bob Diamond resigned from his post on Tuesday, July 3, 2012; amid the controversy in the alleged interest rate fixing that brought the company to pay $453 million in fines by […]