Banks - Page 5

“It’s a great example of powerful government institutions punishing lower-ranking employees for systemic misconduct, and letting the big guys get away with impunity.”

LONDON (AP) — Taxpayer-owned Royal Bank of Scotland says it has set aside an additional $3.8 billion to cover fines and litigation costs related to its sale of bonds backed by U.S. subprime mortgages before the global financial crisis.

Wells Fargo bank has paid a settlement of $24 million after being accused of improperly repossessing the cars of hundreds of members of the U.S. armed forces serving overseas.

TEL AVIV – The Lebanese treasury recently started paying the salaries of Hezbollah ministers in cash in an attempt to evade sanctions from a new U.S. law targeting the terror organization.

Large denomination physical cash is going to be outlawed if central bankers have their way.

Donald Trump has two things he is focusing on during the fight with Ted Cruz: The Texas Senator’s Canadian citizenship (which he has renounced) and the undisclosed loan from Goldman Sachs in his Senate race.

President Barack Obama is bringing the subprime-mortgage crisis back, fueled by the progressives’ political urge to treat borrowed money loans as a “right” that everyone is “entitled,” and by the willingness to dismiss mathematical probability as a racist conspiracy.

The Eurozone rejected Greece’s request for one-month bailout extension only a day after the bankrupt country turned down an extension offer from their creditors. “It looks like we are heading for Grexit,” exclaimed one person who participated in the meetings.

As more money continues to flow into the pockets of Mexican drug cartels, traffickers need to maintain a solid network of places—often along the southwest border—where they can launder drug money. However, in an attempt to stymie these efforts, several major US banks have been closing numerous branches in the region and shutting down hundreds of customer accounts.

Obama’s Department of Justice has announced new plans to give banks more power to inform on customers’ “nefarious activity” and trigger immediate investigations by federal or local authorities.