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The former Goldman CEO is said to be the unnamed executive at a meeting with Asian financier; the bank faces multibillion-dollar penalties in two countries.
November 9
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UBS Group sold tens of billions of dollars' worth of residential mortgage-backed securities by "knowingly and repeatedly" making false and fraudulent statements to investors about the loans backing those trusts, the U.S. Justice Department said in a civil suit filed Thursday.
November 8
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Examiners could have done more to minimize the brunt to the Deposit Insurance Fund from Washington Federal Bank for Savings, which hid fraudulent loans and will cost the fund more than $80 million, according to a report from the Treasury’s inspector general.
November 8
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The Swiss banking giant has been accused of helping wealthy French clients hide assets from tax authorities.
November 8
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Payday lenders argue that banks cut ties with their industry due to pressure from biased and hostile regulators. But the reality, in some cases, may be more nuanced.
November 8
American Banker -
Richard Bowe is alleged to have made false statements on loan applications totaling more than $96,000.
November 8
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The OCC is looking into problems in the bank’s technology operations; banks turn to untraditional methods to raise revenue from research.
November 8
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Customer card data from nearly all of Pakistan's major banks has been stolen in a cyberattack, according to a Federal Investigation Agency official in Pakistan.
November 7 -
After the retail giant filed an $800 million lawsuit against its former credit card partner, shares in Synchrony plunged. Now analysts fear its relationship with Sam’s Club may be in jeopardy.
November 7American Banker -
The midterm elections virtually eliminate the chance that progress will be made on financial services legislation.
November 7
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The bank says a calculation error led it to deny help to distressed homeowners; a former U.S. deputy attorney general will help with in the 1MDB fraud scandal.
November 7
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The focus since the 2016 election on easing rules, tax cuts and expanding access to credit is about to be turned on its head.
November 6
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The focus since the 2016 election on easing rules, tax cuts and expanding access to credit is about to be turned on its head.
November 6 -
Promontory Financial Group CEO Eugene Ludwig says AI tools can remove the risks — and discrimination — involved in opening the U.S. financial system to newcomers.
November 6
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After the retail giant filed an $800 million lawsuit against its former credit card partner, shares in Synchrony plunged. Now analysts fear its relationship with Sam’s Club may be in jeopardy.
November 2American Banker -
A multimillion-dollar deal between Chicago Mayor Rahm Emanuel and Stephen Calk was supposed to deliver 400 new jobs to the city. Here’s what really happened.
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The suit is tied to Walmart's decision to shift its credit card business to Capital One.
November 2
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The two allegedly helped to defraud a Malaysian sovereign wealth fund; Michelle Bowman is expected to bring a Main Street perspective to the central bank.
November 2
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Following is a list of the banks that made Vade Secure's top 10 phishing list in the third quarter, along with insights into how lenders can protect themselves.
October 31
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Fred Daibes and an associate allegedly conspired to fraudulently obtain loans from Mariner's Bank, a New Jersey institution he helped found.
October 31
