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Keyword: banking

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  • Chinese Banks Running Out of Cash

    10/06/2019 6:33:03 PM PDT · by LS · 127 replies
    @FreeHKer ^ | 10/6/2019 | @FreeHKer
    https://twitter.com/freeHKer/status/1180810938548547584 "China banks are running out of cash in HKD and USD. Maximum withdrawal limit drop from USD1300 to USD38. A drop of 34 times. China financial doom day coming. @Jkylebass @GordonGChang @robert_spalding
  • Banks Fire Up Their Mortgage Machine for a Refinancing Boom

    09/18/2019 4:19:16 AM PDT · by 2ndDivisionVet · 22 replies
    Yahoo! Finance ^ | August 29, 2019 | Hannah Levitt and Claire Boston
    Lenders thought it was time to shrink their mortgage businesses. Now they’re finding they were wrong. With rates for home loans sinking to their lowest levels since late 2016, Wells Fargo & Co., the biggest mortgage lender in the U.S., has boosted staffing for the business by about 10% this year and plans to keep hiring. Bank of America Corp. is hiring in areas including sales, processing, and underwriting. The mortgage industry has added almost 5,000 employees since March, a 1.5% gain, according to the Bureau of Labor Statistics. It’s a stark reversal from a year ago, when the Federal...
  • America’s first LGBT credit union gets green light from Michigan (Video)

    09/10/2019 11:37:49 PM PDT · by SaveFerris · 65 replies
    Yahoo ^ | September 10, 2019 | Yahoo News Video
    Michigan on Monday approved a charter for the new financial institution designed for LGBT customers
  • The Fantasy of Central Bank "Growth" Is Finally Imploding

    08/28/2019 7:23:53 AM PDT · by amorphous · 34 replies
    of two minds.com ^ | 27 august 2019 | charles hugh smith
    Having destroyed discipline, central banks have no way out of the corner they've painted us into. It was such a wonderful fantasy: just give a handful of bankers, financiers and corporations trillions of dollars at near-zero rates of interest, and this flood of credit and cash into the apex of the wealth-power pyramid would magically generate a new round of investments in productivity-improving infrastructure and equipment, which would trickle down to the masses in the form of higher wages, enabling the masses to borrow and spend more on consumption, powering the Nirvana of modern economics: a self-sustaining, self-reinforcing expansion of...
  • Leftist Shareholder Activism Is Financial Terror

    08/19/2019 3:34:00 PM PDT · by Kaslin · 5 replies
    Townhall.com ^ | August 19, 2019 | Sheriff David Clarke (Ret)
    A political guerrilla warfare tactic used by the Left doesn’t get the media coverage it should.  While the complicit media sleeps, the anti-gun industry liberal shareholder activists are engaging in a form of domestic terror that has banks and credit card companies altering their policies about who to do business with.  Recall the code name Operation Choke Point.  This was described as “a plot by President Obama’s Department of Justice, the Federal Deposit Insurance Commission, the Consumer Financial Protection Bureau, and other government agencies to cut off banking and financial services for small businesses and industries that they deemed to...
  • SunTrust Banks On Open Borders

    07/31/2019 4:35:43 AM PDT · by 4Runner · 6 replies
    Family Research Council ^ | July 29, 2019 | Tony Perkins
    During Wednesday's Financial Services hearing in the House, Congressman Sean Duffy (R-Wisc.) steered the conversation with Rodgers away from SunTrust's potential merger with BB&T to the company's obvious intolerance for legal immigration. "If we have private detention centers that are caring for children, or detaining individuals who [might not be] following American law -- you say, 'I'm not going to bank [with] them.' Is that fair?" Duffy pressed. When Rogers tried to defend SunTrust, saying it "considers a variety of factors..." Duffy interrupted him and asked again, "Is it fair?" Without waiting for an answer, he pushed Rodgers on whether...
  • How negative interest rates helped turn Deutsche Bank into a disaster

    07/29/2019 9:04:23 AM PDT · by Moonman62 · 17 replies
    CNN Business ^ | 07/29/19 | Matt Egan
    Germany's biggest lender is rapidly slashing jobs, it's losing a ton of money and the stock is trading near all-time lows. Many of Deutsche Bank's problems are self-inflicted. It's been badly mismanaged. Deutsche Bank (DB) never fully cleaned up its crisis-era balance sheet. Restructuring efforts fell short. And its countless legal black eyes haven't helped matters. But Deutsche Bank's struggles have also been amplified by something the 149-year-old lender never imagined, mostly because it had never happened before in modern history: negative interest rates. In 2014, the European Central Bank wanted to boost the sluggish economy but interest rates were...
  • THE BANK WAR: Jackson v. Biddle (Today's American History Lesson)

    07/11/2019 9:14:29 AM PDT · by Perseverando · 6 replies
    American Minute ^ | July 10, 2019 | Bill Federer
    Money supply has a mixed history. Originally, wealth was measured in precious metals of gold, silver, or copper. Exodus 25:3 "And this is the offering which ye shall take of them; gold, and silver, and copper." Items of gold, silver, or copper had to be weighed. A "shekel" was a fixed unit of weight. Shekels were placed on one side of a scale and on the other side were placed the items of gold, silver, or copper to be weighed. The Bible admonished not cheat, Deuteronomy 25:13 "Do not have two differing weights in your bag -- one heavy, one...
  • SunTrust to stop financing companies that manage private prisons

    07/08/2019 8:08:54 AM PDT · by C19fan · 17 replies
    Reuters ^ | July 8, 2019 | Staff
    SunTrust Banks Inc said on Monday it will no longer provide future financing to companies that manage private prisons and immigration holding facilities. "This decision was made after extensive consideration of the views of our stakeholders on this deeply complex issue," the company said in a statement.
  • Trump hits Federal Reserve As The 'Most Difficult Problem' Facing US

    07/06/2019 9:41:42 AM PDT · by Enlightened1 · 23 replies
    The Hill ^ | 07/06/19 | Jessica Campisi
    President Trump took aim at the Federal Reserve on Saturday, labeling it the “most difficult problem” the U.S. faces and again criticizing the independent central bank for raising interest rates. “Strong jobs report, low inflation, and other countries around the world doing anything possible to take advantage of the United States, knowing that our Federal Reserve doesn’t have a clue!” Trump tweeted late Friday night. “They raised rates too soon, too often, & tightened, while others did just the opposite.” “As well as we are doing from the day after the great Election, when the Market shot right up, it...
  • China to offer liquidity to Baoshang Bank (bail out)

    05/27/2019 7:09:16 PM PDT · by bigbob · 13 replies
    Reuters News Service ^ | 5-26-19 | Reuters
    China’s central bank said on Sunday that it would offer liquidity to Inner Mongolia-based Baoshang Bank, which the country’s financial regulators have said they would take over due to the serious credit risks it poses. The People’s Bank of China (PBOC) also said in a statement that it and the China Banking and Insurance Regulatory Commission (CBIRC) would give more policy support to improve small- and mid-sized banks’ corporate governance. Baoshang Bank came to prominence after its key stakeholder Tomorrow Holdings was targeted in a government crackdown on systemic risks posed by financial conglomerates. The rare takeover, the first in...
  • Wells Fargo, TD Bank turn over Trump financial records to House Dems

    05/23/2019 11:52:24 AM PDT · by Innovative · 97 replies
    Fox News ^ | May 23, 2019 | Brooke Singman, John Roberts
    Wells Fargo and TD Bank have turned over President Trump’s financial records to the House Financial Services Committee, Fox News confirmed on Thursday, amid a contentious legal battle between the Trump administration and congressional Democrats seeking access to sensitive files. The committee, led by Chairwoman Maxine Waters, D-Calif., is one of several panels that have issued subpoenas and requests for Trump’s financial files.
  • Wells Fargo, TD Bank have already given Trump-related financial documents to Congress

    05/23/2019 5:53:07 AM PDT · by Alas Babylon! · 48 replies
    MSNBC Via MSN ^ | 3 May 2019 | Leigh Ann Caldwell and Alex Moe and Mike Memoli
    WASHINGTON — A key congressional committee has already gained access to President Donald Trump's dealings with two major financial institutions, two sources familiar with the House probe tell NBC News, as a court ruling Wednesday promised to open the door for even more records to be handed over. Wells Fargo and TD Bank are the two of nine institutions that have so far complied with subpoenas issued by the House Financial Services Committee demanding information about their dealings with the Trump Organization, according to the sources. The disclosures by these two banks haven't been previously reported. Both TD Bank and...
  • Deutsche Bank Staff Saw Suspicious Activity in Trump and Kushner Accounts

    05/20/2019 7:47:03 AM PDT · by yesthatjallen · 72 replies
    NYT ^ | May 19, 2019 | David Enrich
    Anti-money-laundering specialists at Deutsche Bank recommended in 2016 and 2017 that multiple transactions involving legal entities controlled by Donald J. Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog. The transactions, some of which involved Mr. Trump’s now-defunct foundation, set off alerts in a computer system designed to detect illicit activity, according to five current and former bank employees. Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the Treasury Department that polices financial crimes. But executives at Deutsche Bank, which has...
  • Ocasio-Cortez Calls for Socialist, Government-Controlled Banking System

    05/10/2019 1:06:58 PM PDT · by Steve1999 · 37 replies
    NN ^ | 10-05-19 | Jay Greenberg
    Famous Democrat Rep. Alexandria Ocasio-Cortez (D-NY) is calling a new government-controlled socialist banking system in the United States.Twitter celebrity AOC suggested that the failing US Postal Service could be used as a model for her govt-run bank idea.
  • Revoke Access to Your Banking

    05/06/2019 1:50:07 PM PDT · by redfog · 50 replies
    Summit News ^ | 5/6/2019 | Paul Joseph Watson
    The biggest threat that social media censorship poses is not you being unable to access Facebook or Twitter, it’s you not being able to get a mortgage or have a bank account. The end result of Big Tech silencing conservative voices is banks and corporations removing your access to the marketplace and severely restricting your basic right to buy and sell. We have already seen numerous instances of people being deplatformed by BANKS for the political opinions, from Mastercard telling Patreon to remove Robert Spencer’s account, to Martina Markota and Enrique Tarrio having services terminated by Chase Bank over their...
  • DEBANKING: Chase Bank Says “moral character” a Reason Why They Don’t Do Business w/ “those types ...

    04/17/2019 10:49:40 AM PDT · by Red Badger · 69 replies
    www.projectveritas.com ^ | 04-17-2019 | Staff
    Man’s Chase Payment Processing Shut Down, Suspects Political Targeting of Provocative Conservative Merchandising Chase Bank Unable to Produce Reason for Account Termination Chase Corporate Global Media Relations: “Chase is not involved with any like, you know, alt-right people” Other Conservative Voices and Chase Bank Customers Also ‘Debanked’ Recently UPDATE: Chase Bank Communications Officer Patricia Wexler responded to this report, saying: “We do not close accounts due to political affiliation. Despite what was described in the video, that was NOT someone from Global Corporate Media Relations. As I’m sure you can appreciate, I’m not able to share any personal details on...
  • Democrats subpoena Deutsche Bank as part of ongoing investigation into Trump

    04/17/2019 3:46:45 AM PDT · by Libloather · 21 replies
    ABC News ^ | 4/16/19 | Benjamin Siegel
    The House Intelligence and Financial Services committees jointly subpoenaed Deutsche Bank on Monday as part of their ongoing investigation into President Donald Trump’s financial dealings and concerns about foreign influence over the Trump Organization, the president's family business. "As part of our oversight authority and authorized investigation into allegations of potential foreign influence on the U.S. political process, the House Intelligence Committee today issued subpoenas to multiple financial institutions in coordination with the House Financial Services Committee, including a friendly subpoena to Deutsche Bank, which has been cooperative with the Committees," House Intelligence Committee Chairman Adam Schiff, D-Calif., said in...
  • Why does USBank have an Alexandria Ocasio-Cortez lookalike pushing a broom in its ad?

    04/12/2019 11:01:25 AM PDT · by SeekAndFind · 25 replies
    American Thinker ^ | 04/12/2019 | Monica Showalter
    Now, here's an ad to draw some attention.  Whom does that look like? Most hard work isn’t glamorous. But it’s worth it. Wherever you are on the journey to your goals, we’re here to help.— U.S. Bank (@usbank) March 29, 2019 By the wildest of coincidences, it follows the socialist "it" girl's recent statements on the value of hard work, the ones she made headlines for because she adopted a black accent to say it for a black audience: Rep. Ocasio-Cortez: "I'm proud to be a bartender. Ain't nothing wrong that. There's nothing wrong with working retail...There is nothing wrong...
  • Why Does Trump Want to Debase the Fed? The tax cut fizzled; send in the clowns!

    04/08/2019 6:43:06 PM PDT · by E. Pluribus Unum · 56 replies
    The New York Slimes ^ | April 8, 2019 | Paul Krugman
    As far as I know, the Federal Reserve — the world’s most important economic policy institution — doesn’t have an anthem. But if it were to adopt one now, the choice would be obvious: “Send In the Clowns.” You see, the Fed’s governing board currently has two vacancies, and Donald Trump has proposed filling those vacancies with ludicrous hacks. If he succeeds, one of our few remaining havens of serious, nonpartisan policymaking will be on its way toward becoming as corrupt and dysfunctional as the rest of the Trump administration. Stephen Moore and Herman Cain are, of course, completely unqualified...