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+28 +1
A Danish bank is offering mortgages at a 0.5% negative interest rate — meaning it is basically paying people to borrow money
A bank in Denmark is offering borrowers mortgages at a negative interest rate, effectively paying its customers to borrow money for a house purchase. Jyske Bank, Denmark's third-largest bank, said this week that customers would now be able to take out a 10-year fixed-rate mortgage with an interest rate of -0.5%, meaning customers will pay back less than the amount they borrowed.
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EMI Free Loans- Unique Loans with flexible EMI for salaried individuals
EMI Free loan offers flexibility in loan payments. This flexi loan helps save up to 40% as compared to regular personal loan.
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0 +1
Find out how EMI Free Loan differs from regular Personal Loan
Personal Loans from other banks may not give you flexiblity of only interest payment. Also, Loan from your bank account may attract prepayment charges.
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+27 +1
Deutsche Bank's Death By A Thousand Cuts Is Not Over
Deutsche Bank’s significant opacity means that we do not know how much counterparty risk banks, non-banks, corporations, sovereigns, central banks, and municipalities around the world have to the troubled bank. Bank regulators have the power to require banks to measure their exposure to Deutsche.
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Deutsche Bank will exit global equities business and slash 18,000 jobs in sweeping overhaul
The bank aims to reduce costs by 6 billion euros. CEO Christian Sewing had broadcast "tough cutbacks" during a shareholders' meeting in May.
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+24 +1
Bitcoin Is Nightmare For Banks Laundering $2 Trillion Every Year
One of the big attractions to Bitcoin is its ability to bypass the banking system. The likes of doom monger, Nouriel Roubini, still bash BTC in favor of a largely unprincipled banking system where the top get richer at the expense of the bottom. Banks are far from infallible by nature, and the number of recent reports on money laundering scandals is on the increase.
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Small change, big effects: An overview of payment systems
The payment industry is undergoing a huge transformation, with several new technologies promising better efficiency: blockchain, mobile wallets, contactless chip credit cards, and electronic payment platforms. But even as they pay out, not all of fintech is paying off. @Enterprisenxt
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Facebook's Libra plan: talk of the demise of central banks is greatly exaggerated
A former senior economist with the Reserve Bank of Australia doubts Facebook's cryptocurrency will take control of monetary policy away from central banks.
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+15 +1
Facebook's Libra cryptocurrency 'poses risks to global banking'
Move could affect competition and data privacy, warns Bank for International Settlements
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+21 +1
Apple Pay rolls out to Greece, Portugal, Slovakia on Wednesday
Apple Pay will be going live in a number of European markets on Wednesday, according to local reports, with expansion into Slovakia, Greece, and Portugal expected to occur on the same day via a variety of local partner financial institutions.
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A Goldman Sachs rival pulled out of the Apple Card deal on fears it will be a money loser
The sniping began shortly after Apple unveiled its new credit card with Goldman Sachs. In an elaborate presentation in March, Apple CEO Tim Cook revealed the biggest yet mash-up between the worlds of big tech and big finance, a card that supposedly reimagines consumers’ relationship with plastic. Rivals of the investment bank wasted no time taking shots at the deal.
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Deutsche Bank Staff Saw Suspicious Activity in Trump and Kushner Accounts
Anti-money laundering specialists proposed filing “suspicious activity reports” about transactions connected to President Trump and his son-in-law. Bank managers said no.
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+9 +1
When no banks are failing, you’ve got a silent canary in a coal mine
What was the period in American history when the nation went the longest without a single bank failure? It was from 2004 to 2007. For 32 consecutive months in that period, not a single one of the over 7,000 banks in America failed. This ought to have set off alarm bells on the growing imbalances and problematic practices endemic in the American banking system. Instead, it was met with applause by the financial regulators charged with protecting the safety and soundness of a system that was veering toward collapse.
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Bank of America is raising its minimum wage for employees to $20 an hour
Bank of America is raising the minimum wage for employees this year and plans to hike it to $20 an hour in two years. “If you get a job at Bank of America, you’ll make $41,000” a year, Chairman and CEO Brian Moynihan told MSNBC on Tuesday. “With the success our company has ... we have to share that success with our teammates.”
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+16 +1
Over 40 Central Banks Are Considering Blockchain Currencies: Davos Report
More than 40 central banks worldwide are experimenting with blockchain technology, says a new report by the World Economic Forum. Published Wednesday, the report analyzes how different central banks are either examining what blockchain can be used for or are outright experimenting with central bank digital currencies (CBDCs). “It’s very much the case that several central banks are looking at this,” said Ashley Lannquist, a project lead in blockchain and distributed ledger technology at the World Economic Forum and the primary author of the report.
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+28 +1
Debit card with built-in fingerprint reader begins trial in the UK
British bank NatWest is trialling the use of a new NFC payment card with a built-in fingerprint scanner. The trial, which will include 200 customers when it begins in mid-April, will allow its participants to make NFC payments (called “contactless” in the UK) without needing to input a PIN or offer a signature. The standard £30 limit for contactless payments will not apply when the fingerprint is used.
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UK cash system ‘on the verge of collapse’, report finds
More than 8 million UK adults would struggle to cope in a cashless society, according to a major report which claims that the country’s “cash infrastructure” is in danger of collapsing. With Britons increasingly turning to digital payments, and bank branches and ATMs closing, the Access to Cash Review said companies and organisations providing “essential” services should be required to ensure that consumers can continue to pay by cash.
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Banks hit by dozens of IT shutdowns
Customers suffered dozens of digital banking shutdowns last year, according to new figures that reveal the scale of banks' IT problems for the first time. UK banks have begun publishing the number of operational and security incidents that have occurred, under a voluntary scheme overseen by the financial regulator.
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JP Morgan rolls out first US bank-backed cryptocurrency to transform payments business
The first cryptocurrency created by a major U.S. bank is here — and it's from J.P. Morgan Chase. The lender moves more than $6 trillion around the world every day for corporations in its massive wholesale payments business. In trials set to start in a few months, a tiny fraction of that will happen over something called "JPM Coin," the digital token created by engineers at the New York-based bank to instantly settle payments between clients.
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Criminals Are Tapping into the Phone Network Backbone to Empty Bank Accounts
Motherboard has identified a specific UK bank that has fallen victim to so-called SS7 attacks, and sources say the issue is wider than previously reported.
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