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Tag: Banking

Money

Mexican Cartels Launder $10 Billion into US per Year, Says Financial Times

Over $10 Billion in illicit funds are laundered into the U.S. per year, according to a report in the Financial Times. As Breitbart Texas previously reported, the U.S. government recently enacted tough controls on banking institutions in an effort to stem the flow of Mexican cartels’ narco-profits through U.S. banks. Several large U.S.-based banking institutions recently began closing down branches near the U.S.-Mexico border in efforts to comply with the restrictions.

AP Photo

Banks Raising Sub-Prime Credit Card Limits, Again!

The Office of the Comptroller of the Currency (OCC), which regulates the financial risks posed by the lending activity of American national banks, has officially reported that banks are expanding sub-prime credit by raising borrowing limits for credit card holders. The new concerns follow an OCC report last June that flagged “problematic” recent high-risk corporate takeovers, car loans through auto dealers, and commercial finance lending.

Dan Price

Human Smugglers Thrive With Help of U.S. Banks

Hundreds of thousands of immigrants enter the US illegally across our southwest border every year with the help of coyotes, more formally known as human smugglers. Making this journeys isn’t cheap, and can set a migrant back anywhere from $3,000 to $7,000 depending on his or her circumstances. As a result, gangs are making upwards of $10 billion per year according to the United Nations Office of Drugs and Crime. Worse yet, Bloomberg Markets magazine will be reporting in its February issue that these profits are rolling in with the assistance of several U.S. banks.

Jeb Bush

Report: Jeb Bush Leaving Barclays Ahead of Potential ’16 Run

Former Florida Governor Jeb Bush will reportedly quit his position at Barclays at the end of the year. The Financial Times report comes days after Bush announced that he is “actively exploring” a potential presidential run. Before Bush’s announcement that