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+2 +1
French Banks Reportedly Begin To CLOSE, NOT ALLOWING WITHDRAWALS Ahead Of Yellow Vest Bank Run
Banks in France are reportedly either outright closing down, or experiencing “ATM glitches,” as the Yellow Vest’s planned “bank run” enters it’s first scheduled day today. Many believe that for every $100 of deposits, French banks have an average of $3000 of loaned money: a ratio of nearly 30 to one. This means that out of a population of 67.12 million, a bank run of only 2 million citizens could be absolutely catastrophic for France, and by extension the EU.
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+40 +1
EU fines Mastercard more than half a billion euros
The EU has fined Mastercard €570 million for limiting competition between banks offering cheaper payment fees. The European Commission said Mastercard's actions harmed consumers and retailers in the bloc.
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+9 +1
What Big Banks Don’t Want You to Know about Small Business Loans
Most big banks seem to be friendlier to small businesses in recent years. In 2014 alone, major banks lent around $45 billion to small business owners worldwide. While this number might seem to be a lot, it is down 38 percent from the high of $72 billion in 2006. With fewer business loans approved by banks, alternative funding sources try to fill in the gaps.
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+19 +1
German authorities descended on Deutsche Bank AG, including its downtown Frankfurt headquarters, in a coordinated raid related to a money-laundering investigation
German authorities descended on Deutsche Bank AG, including its downtown Frankfurt headquarters, in a coordinated raid related to a money-laundering investigation. More than six police vehicles, their blue lights flashing, pulled up to Deutsche Bank’s main offices shortly before 9 a.m., in an operation involving about 170 officers.
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Image0 +1
How CRISIL Rating Effect Fixed Deposits
This Infographic will describe you about CRISIL Rating and how does effect on FD. Bajaj Finance has received ICRA’s MAAA and CRISIL’s FAAA rating which is the best for stability as per industry standards.
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+18 +1
How Bitcoin (BTC) is 10,000 Times More Efficient Than Banks
In an earlier post, we had explored the possibility of the electric car company of Tesla accepting Bitcoin (BTC) and other cryptocurrencies as a way for customers to purchase the revolutionary eco-friendly vehicles. We had also observed that Bitcoin energy consumption had not been properly analyzed and compared to the entire spectrum of traditional banking and financial activities.
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+13 +1
$1.6 trillion in risky ‘leveraged loans’ are overhanging the global economy
An art installation titled “Hang On a Minute Lads, I’ve Got a Great Idea” by British artist Richard Wilson — at The Peninsula hotel in Hong Kong, in 2015 — is based on a scene from the movie “The Italian Job”. It is only October and already the UK economy has set a dubious new record for the year: Leveraged loans to British companies have hit about £40 billion ($52 billion), according to the Bank of England. Prior to the financial crisis, new issuances of such loans only totalled £30 billion ($39 billion).
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+22 +1
Danske Bank money laundering: Europe's 'biggest scandal'
Danske Bank, Denmark's largest lender, has found itself at the centre of one of the world's biggest money-laundering scandals. EU Justice Commissioner Vera Jourova has described the $235bn of suspicious transactions as "the biggest scandal we have now in Europe". Here's how it unfolded...
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+10 +1
Bank Servers Hacked to Trick ATMs into Spitting Out Millions in Cash
The US-CERT has released a joint technical alert from the DHS, the FBI, and Treasury warning about a new ATM scheme being used by the prolific North Korean APT hacking group known as Hidden Cobra. Hidden Cobra, also known as Lazarus Group and Guardians of Peace, is believed to be backed by the North Korean government and has previously launched attacks against a number of media organizations, aerospace, financial and critical infrastructure sectors across the world.
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+14 +1
Big banks must never again be 'master of the economy', John McDonnell to warn
London’s vast financial services industry must never again be the “master of the economy”, the shadow chancellor, John McDonnell, will say on Saturday in a speech accusing bankers of profiting from speculation at the expense of ordinary people. The veteran socialist who is now seeking to reassure business, promises higher taxes and tougher regulation on banks on the 10th anniversary of the collapse of Lehman Brothers – the pivotal moment in the global financial crisis.
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-1 +1
The Advantages Of Choosing A Title Loan
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+11 +1
Wells Fargo Fraud - Ethics Unwrapped
Under pressure to meet steep sales goals and incentives, Wells Fargo employees created over a million fraudulent accounts in their customers’ names.
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+41 +1
Bank of America freezing accounts of customers suspected of not being US citizens
Bank of America has been accused of asking citizenship questions and for proof of residency, then freezing customers’ accounts after failing to properly recognize their current residency status. By Rob Wile.
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+16 +1
If Bitcoin is Rat Poison, the Banks Are the Rats: Pantera Capital CEO
Pantera Capital officials continue to maintain an upbeat outlook for cryptocurrency amidst the current market downturn. In an ICO and digital asset funds conference call Tuesday, CEO and chief investment officer Dan Morehead said blockchains are the next step in the evolution of equity, while cryptocurrency is a superior form of currency. He called bitcoin the biggest disruption of this generation.
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+24 +1
The Trump Administration Finds A New Way To Hand Banks Even More Money
Do “financial services” include banking? Not according to the Trump administration… By David Sirota.
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+36 +1
Wells Fargo says hundreds of customers lost homes because of computer glitch
Wells Fargo said it has set aside $8 million to compensate customers that were wrongly denied mortgage modifications.
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+2 +1
14 ways to enhance financial websites so they stand out - CUInsight
Let’s face it… Many financial institutions look and sound alike. They all offer basically the same products and services — from standard checking accounts and home loans to online banking. This presents unique challenges to financial marketers looking to differentiate their brand from others. Fortunately, there are ways that banks and credit unions can enhance …
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+4 +1
Bank returns WWII veteran Richard Overton's funds after theft, cousin says
"I do believe we will hear from the government soon to find out who did it," said Richard Overton's cousin, Volma.
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+3 +1
Citibank fined $100 million for interest rate manipulation
Citibank will pay a huge fine for manipulating an important interest rate. The bank settled with attorneys general in 42 states for $100 million. Following an investigation, the states said Citibank manipulated Libor, a benchmark interest rate that helps set lending rates across the world. Citibank made millions of dollars of gains from its "fraudulent conduct," the attorneys general said.
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+11 +1
Free Money? The Fed Is About To Give $36.93 Billion Of Taxpayer Money To Banks
The Fed upped the interest it pays on excess reserves to 1.95% today. This is free money (taxpayer funded) to banks. The Fed bumped up the interest it pays on excess reserves today to 1.95%. Currently, excess reserves sit at $1.894 trillion. The math is simple enough. At the current rate, the Fed will hand over approximately $36.93 billion of taxpayer money to banks. That assumes the status quo, but things will change.
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