Banking News

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Benchmarks for Currencies Facing Financial Stability Board Review

The Financial Stability Board is a group of regulators from across the globe. It has started reviewing the benchmarks for foreign exchange following recent allegations that traders had colluded to fix rates in the currency market that moves $5.3 trillion per day. The FSB has a group reviewing the process by which the foreign exchange […]
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Chinese Banks Offering Wealth Management Products

Banks in China have launched an array of online products for wealth management, as they attempt to compete against Alibaba, the giant of e-commerce that has a very popular investing platform online called Yu’e Bao that pays its users up to 17 times the usual standard interest rate. At the start of the year, several […]
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Canada’s pay day loan regulator

The Canadian government has been very sensible in its regulation of the pay day loan industry. Now other countries, like the UK, are holding Canada out as a shining example of how to get it right when it comes to regulating this industry. One of Canada’s main controls is that it has an active trade […]
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The Case for the Roth IRA

Roth IRA’s first became available as a retirement investment tool in 1998. The Roth IRA was named after the late Senator William Roth who sponsored the legislation for this investment product. Roth IRA’s are perhaps best known for being a retirement plan that offers individuals the benefit of tax free growth. Sometimes mistaken for a […]
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Firmex Announces Secure Translations Services for M&A Clients

Firmex joins with translation services company Linguistic Systems Inc. to provide secure, fast, and accurate translations helping M&A advisory firms with the growing number of cross-border deals. Firmex, a leading virtual data room and financial translation provider, announced its collaboration with Linguistic Systems, Inc. to provide secure translation services for its clients. Linguistic Systems Inc. […]
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Bank of America (BAC) Shakes-Up Management Team, Appoints Co-COO’s

Bank of America (BAC) announced Tuesday a reorganization of its management as its presidents of global wealth management and consumer banking both stepped down, while two others were promoted to newly created positions. The news comes as just the latest shakeup at Bank of America, where continued legal liabilities and poor stock performance have help […]
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Why The World Won’t Let Greece Fail

The world market has seen some incredibly turbulent times in the last few years. AS things have started to level out the countries begin to pick up the pieces of a shattered market, some road bumps have proven to risk throwing everything back into a downward spiral. Spain and Greece’s economic woes have risked throwing […]
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New Debit Cards for Compromised Bank of America (NYSE: BAC) Accounts

Some customer’s of Bank of America (NYSE: BAC) may receive new debit cards in the mail, as their personal information and account details may have been compromised. The bank is not releasing details as to how much data was compromised, but that the corporation has discovered irregular activities involving the debit cards issued by the […]
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Alternatives To Traditional Banking Offered By Eager Online Entrepreneurs

A growing number of online startups are beginning to use technology to offer services previously limited to banking institutions.  Now these startups are offering the same or similar services at lower prices because of lower overhead and staffing costs.  One of the largest of these new companies is Prosper, a peer to peer lending exchange […]
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Proxy Showdown at Wells Fargo (NYSE: WFC)

Is a proxy fight brewing at Wells Fargo (NYSE: WFC)? It may be too early to tell, but maybe. The San Francisco based banking giant has been forced to vigorously defend its slate of candidates to serve on the board after two proxy advisory services recommended investors vote against certain candidates. The Rockville, MD based […]
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Bank of America (NYSE: BAC) Hires Former JPMorgan Chase (NYSE: JPM) Exec Howard

The game of musical chairs on Wall Street continues to go on. Earlier this week JP Morgan Chase (NYSE: JPM) Announced significant hiring plans across the business, and Citigroup (NYSE: C) followed with large expansion plans of their own. But, as banks continue to reshape and prepare for new business opportunities, there are few with […]
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JP Morgan Chase (NYSE: JPM), Bank of America (NYSE: BAC), Citigroup (NYSE: C), Goldman Sachs (NYSE: GS), Wells Fargo (NYSE: WFC), and Others Named In EU Probe

Major banks are facing increased scrutiny in the EU, where a competition watchdog is investigating their practices, as well as a financial data firm and a clearing house, in the market for credit default swaps. During the financial crisis, a common criticism arose that there was a lack of transparency. The two probes launched are […]
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JPMorgan Chase (NYSE: JPM) Analysts Chime in on Gas Prices

As the summer travel season is nearly upon us, consumers are worried about the prospects of rising gasoline prices. With speculators expecting further volatility in the middle east, many fear gas prices will continue to inch higher and have a severe impact on disposable person income. This uncertainty may be coupled with fundamental issues as […]
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AIG (NYSE: AIG) Planning To Sue ICP and Moore Capital, Goldman Sachs (NYSE: GS) Next?

Against all odds, AIG (NYSE: AIG) was able to survive the financial crisis of 2008 (thanks to large cash infusions from the government.) Now though, their attention has to turned from surviving to going after some of the losses with a goal to return some profitability. Recently, AIG sued two money management firms in a […]
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Former Wells Fargo (NYSE: WFC) Exec to Lead U.S. Bancorp (NYSE: USB) Ultra High Net Worth Division

The U.S. banking industry has become highly fragmented over the past few years. As many of the large banks change their business models to target new opportunities, most have the same goal: more wealthy customers. The theory goes that banking is still a relationship business, so if a bank is able to attract the personal […]
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