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Keyword: banking

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  • Trump signs GOP repeal of consumer banking rule

    11/01/2017 10:00:29 PM PDT · by Olog-hai · 12 replies
    Associated Press ^ | Nov 1, 5:38 PM EDT | Ken Thomas
    President Donald Trump on Wednesday signed the repeal of a banking rule that would have allowed consumers to join together to sue their bank or credit card company to resolve financial disputes. The president signed the measure at the White House in private. Journalists were not present to witness the signing.The Republican-led Senate narrowly voted to repeal the Consumer Financial Protection Bureau’s regulation, which the banking industry had been seeking to roll back. The Trump administration and Republicans have pushed to undo regulations they say harm the free market and lead to frivolous lawsuits. …
  • Repeal a banking rule

    10/25/2017 9:00:39 AM PDT · by mikelets456 · 5 replies
    US news ^ | 10/25/2017 | US news
    WASHINGTON (AP) — The White House is welcoming a congressional measure killing the ability of millions of Americans to band together to sue bank or credit card companies to resolve financial disputes in a major win for Wall Street. The Senate narrowly voted late Tuesday night to nullify the rule, with Vice President Mike Pence casting the final vote to break a 50-50 tie. The measure now goes to President Donald Trump for his signature. "President Donald J. Trump applauds the Congress for passing," the resolution, the White House said in a statement shortly after the vote that highlighted its...
  • Radical-in-Chief

    02/23/2015 8:08:47 AM PST · by Ray76 · 13 replies
    Frontpage Magazine ^ | January 13, 2011 | Stanley Kurtz
    [I begin] with the story of a series of Socialist scholars conferences that Barack Obama attended when he lived in New York City between the years 1983 and 1985. And when I finally reconstructed what had gone on at these Socialist conferences that Barack Obama attended, I truly was amazed because what I saw was a kind of map of Barack Obama’s entire subsequent political career. It was at this Socialist conferences in New York in the mid-’80s that Barack Obama encountered the groups, the strategies, and the mentors who would guide him throughout his entire political career. [T]hese Socialist...
  • These countries have gone mostly cashless

    10/16/2017 12:42:39 AM PDT · by SaveFerris · 77 replies
    Yahoo! Finance ^ | Thu, Oct 12 2:59 PM CDT | Brittany Jones-Cooper
    They say that cash is king, but newer and more convenient payment methods are gunning for the crown. These days, more and more countries are adopting cashless payments, which includes credit card purchases, contactless payments, mobile banking apps and digital options like Apple Pay. To see which countries were adopting cashless the quickest, Forex, a global travel site, conducted a study comparing 20 of the world’s largest economies. In the report, Canada was singled out as the country most embracing cashless technology, which could be attributed to its population changing attitudes that began several years ago. A recent survey in...
  • In a Cashless World, You'd Better Pray the Power Never Goes Out

    10/11/2017 9:43:03 AM PDT · by markomalley · 52 replies
    Mises Institute ^ | 10/10/17 | Ryan McMaken
    When Hurricane Maria knocked out power in Puerto Rico, residents there realized they were going to need physical cash — and a lot of it. Bloomberg reported yesterday that the Fed was forced to fly a planeload of cash to the Island to help avert disaster: William Dudley, the New York Fed president, put the word out within minutes, and ultimately a jet loaded with an undisclosed amount of cash landed on the stricken island...[Business executive in Puerto Rico] described corporate clients’ urgent requests for hundreds of thousands in cash to meet payrolls, and the challenge of finding enough armored cars to satisfy endless demand at...
  • Ranking US lawmaker seeks sanctions on 12 Chinese banks over N. Korea

    09/13/2017 2:31:10 AM PDT · by TigerLikesRooster · 12 replies
    Korea Herald ^ | Sept 13, 2017
    Ranking US lawmaker seeks sanctions on 12 Chinese banks over N. Korea WASHINGTON -- A ranking American lawmaker has asked the US government to sanction 12 large Chinese banks as part of efforts to cut off North Korea's access to the international financial system, an informed source said Wednesday. The measures, if implemented, would mark a significant increase in pressure on China to rein in North Korea's nuclear and ballistic missile programs. They could also endanger US-China ties. The list, submitted by House Foreign Affairs Committee Chairman Rep. Ed Royce (R-CA), includes the world's largest bank, Industrial and Commercial Bank...
  • U.S. Justice Department charges ex-Deutsche Bank subprime trader with civil fraud

    09/11/2017 4:22:39 PM PDT · by HLPhat · 11 replies
    Reuters via Yahoo News. ^ | Sep 11, 2017 | By Sarah N. Lynch
    WASHINGTON (Reuters) - The U.S. Justice Department on Monday charged Deutsche Bank's former head of subprime mortgage trading with civil fraud in connection with conduct dating back to the 2007-2009 financial crisis. Paul Mangione, the former trader, is accused in the complaint of misrepresenting information about the loans underpinning two residential mortgage-backed securities that were sold to investors. The government's case against the former trader, filed in a federal court in Brooklyn, came after the bank in January reached a $7.2 billion settlement in a related case over risky mortgage securities sold to investors.
  • Wells Fargo accused of denying loans to immigrants in DACA program

    08/08/2017 7:11:41 AM PDT · by Oldeconomybuyer · 32 replies
    San Francisco Chronicle ^ | August 7, 2017 | By Bob Egelko
    A federal judge in San Francisco has refused to dismiss a lawsuit accusing Wells Fargo bank of denying loans to immigrants who came to the U.S. as youngsters and have been allowed to remain here. Denial of loans based on citizenship status violates a federal law, passed in 1870, and a California civil rights law, U.S. District Judge Maxine Chesney said Thursday in rejecting the bank’s attempt to dismiss the proposed nationwide class-action suit. Wells Fargo, according to the suit, has a policy of granting loans only to U.S. citizens or to noncitizens who have become permanent legal residents and...
  • Obama Looted Fannie Mae and Freddie Mac

    07/29/2017 7:44:42 AM PDT · by Kaslin · 38 replies
    American Thinker.com ^ | July 29, 2017 | Brian McNicoll
    President Obama never was shy about using his phone and pen to achieve what he could not get from Congress on regulatory matters. But documents revealed last week show the Obama administration may have been willing to get around congressional decisions on spending by using a slush fund of sorts funded by the profits of Freddie Mac and Fannie Mae, the two government-sponsored home loan giants. Fannie and Freddie are federally chartered enterprises which buy mortgage loans from banks and bundle them into securities that are sold to investors, thus freeing up capital so that banks can make more home...
  • Debbie Wasserman Schultz and the Pakistani IT Scammers - There’s more than bank fraud going on here

    07/30/2017 4:31:28 PM PDT · by Zakeet · 117 replies
    National Review ^ | July 29, 2017 | Andrew C. McCarthy
    In Washington, it’s never about what they tell you it’s about. So take this to the bank: The case of Imran Awan, Debbie Wasserman Schultz’s mysterious Pakistani IT guy, is not about bank fraud. [Snip] Awan and his family cabal of fraudsters had access for years to the e-mails and other electronic files of members of the House’s Intelligence and Foreign Affairs Committees. It turns out they were accessing members’ computers without their knowledge, transferring files to remote servers, and stealing computer equipment — including hard drives that Awan & Co. smashed to bits of bytes before making tracks. [Snip]...
  • Bankers Gone Bad

    07/26/2017 9:46:51 PM PDT · by Lorianne · 28 replies
    Full Measure ^ | 23 July 2017 | Sharyl Attkinson
    In the wake of the 2008 financial crisis, big banks paid tens of billions of dollars to settle state and federal fraud investigations, yet not one top bank executive was prosecuted. One investigator calls it the "immaculate corruption." But buried in recently unsealed documents is a revelation: major bank executives WERE referred to the Justice Department for possibly violating the law. A key whistleblower, Richard Bowen, is asking why none of them was charged. Richard Bowen knew where the figurative bodies were buried at banking giant Citigroup, once the largest company in the world. Richard Bowen: Over 60% of these...
  • $5 billion in student loans may be dismissed because the lender lost the paperwork

    07/18/2017 10:23:07 AM PDT · by bgill · 39 replies
    Business Insider ^ | July 18, 2017 | Tanza Loudenback
    Billions of dollars in student loans may be wiped out for tens of thousands of borrowers in the US because a lender didn't keep track of the paperwork verifying ownership of the loans, according to The New York Times. The National Collegiate Student Loan Trusts, which holds 800,000 private loans and is one of the country's largest owners of private student loans, is at the center of the legal dispute, the Times reported. Borrowers are failing to repay more than $5 billion of the $12 billion in private student loans held by National Collegiate, sending the loans into default. The...
  • Remember? 3/30/17: Russia Preps for Split With Global Banking Cartel by Dumping US Dollar for Gold

    06/29/2017 9:27:00 AM PDT · by johnk · 24 replies
    thefreethoughtproject.com ^ | March 30, 2017 | By Claire Bernish
    ... As relations with the West continue to deteriorate — and the potential for crushing sanctions remains tangible — President Vladimir Putin has begun preparing to release Russia from the crushing grip of the international banking system completely, by moving to a nationalist model based and conducting transactions with allies in gold. In short, Russia has plans to abandon central banks and the dollar — if, indeed, shit hits the fan. Russia isn’t alone — the move away from the much-maligned, Western-centric international banking cartels toward a system less dependent on massive banks comprises a new plan for BRICS nations...
  • Yellen: Banks 'very much stronger'; another financial crisis not likely 'in our lifetime'

    06/27/2017 11:22:33 AM PDT · by HokieMom · 65 replies
    CNBC ^ | 6/27/17 | Jeff Cox
    Fed Chair Janet Yellen said Tuesday that banks are "very much stronger" and another financial crisis is unlikely anytime soon. Speaking during an exchange in London with British Academy President Lord Nicholas Stern, the central bank chief said the Fed has learned lessons from the financial crisis and has brought stability to the banking system. Banks last week passed the first round of the Fed's stress tests to see how they would perform under adverse conditions like a 10 percent unemployment rate and turbulence in commercial real estate and corporate debt. "I think the public can see the capital positions...
  • NOT Fake News: Hillary Clinton, Bernie Sanders, Loretta Lynch Now ALL Under Investigation

    06/26/2017 12:29:21 PM PDT · by johnk · 38 replies
    dailywire ^ | JUNE 26, 2017 | BY: JOSEPH CURL
    You wouldn't know it from the mainstream media, but President Donald Trump is not under FBI investigation (repeat: NOT). But you know who is? Hillary Clinton. Bernie Sanders. Loretta Lynch. In early June, Sen. Chuck Grassley, chairman of the Senate Committee on the Judiciary, launched a new probe of former Secretary of State Clinton’s attempts to deflect a Bangladesh government corruption investigation of Muhammad Yunus, a Clinton Foundation donor and friend of Hillary and Bill Clinton. "While secretary of state, Hillary Clinton made a personal call to pressure Bangladesh’s prime minister to aid a donor to her husband’s charitable foundation...
  • Sen. Elizabeth Warren calls for removal of 12 Wells Fargo board members

    06/19/2017 7:28:33 PM PDT · by Tolerance Sucks Rocks · 50 replies
    CNBC ^ | June 19, 2017 | Jeff Cox
    Sen. Elizabeth Warren is calling for the ouster of 12 board members at Wells Fargo due to the fake accounts scandal that has rocked the bank. In a letter sent Monday to Federal Reserve Chair Janet Yellen, the Massachusetts Democrat said the scandal has "revealed severe problems with the bank's risk management practices." Warren said the central bank has the authority under federal statute to remove the members who were on the board as the matter transpired. "We have received the letter and plan to respond," a Fed spokesman told CNBC. In an agreement with multiple authorities last September, Wells...
  • Senate Bill to Force Citizens to Register Cash Not in a Bank, Violators Get 10 Years in Prison

    06/18/2017 12:10:52 PM PDT · by lowbridge · 116 replies
    thefreethoughtproject.com ^ | June 17, 2017 | Claire Bernish
    A new bill seeks to track your money and assets incessantly, will enjoin any business with government ties to act as a de facto arm of DHS, and would steal all of your assets — including Bitcoin and other cryptocurrencies — should you fail to report funds when traveling with over $10,000. Under the guise of combating money laundering, Senate Bill 1241, “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017,” ramps up regulation of digital currency and other autocratic financial controls in an attempt to ensure none of your assets can escape one of the State’s most nefarious, despised...
  • Paul Craig Roberts: Without Glass-Steagall, America will fail

    06/12/2017 1:06:32 AM PDT · by ganeemead · 34 replies
    This is a long article and a dire warning which must be read. Roberts expresses it in stark terms: without the restoration of the Roosevelt-era Glass/Steagal law and the separation of commercial from investment banking, the United States will collapse. Roberts' Article Roberts was Ronald Reagan's Treasury Secretary.
  • Trump set to make first moves at completely revamping the Federal Reserve

    06/06/2017 6:35:05 PM PDT · by Tolerance Sucks Rocks · 85 replies
    CNBC ^ | June 5, 2017 | Jeff Cox
    President Donald Trump appears ready to remake the Federal Reserve in an image that will be considerably different than what investors have known for many years. The president is prepared to nominate Randal Quarles and Marvin Goodfriend to two of three vacancies at the central bank, according to multiple press accounts that have not been disputed by the administration. Quarles likely would assume the role vacated by Daniel Tarullo to oversee the nation's banking system. White House officials did not respond to a CNBC request for comment. Should Trump nominate the two men and they receive confirmation, it will represent...
  • Trump Just Released Even MORE Evidence of Hillary’s Crimes

    06/04/2017 11:16:24 AM PDT · by yoe · 82 replies
    Conservatibe Daily ^ | June 3, 2017 | Max McGuire
    After the latest bombshell, Congressmen and Senators are calling for the Clinton email scandal to be re-opened! Yesterday, the Trump administration quietly released even more of Hillary Clinton's previously-unreleased emails and it includes a bombshell. There is now (concrete evidence) that Hillary Clinton emailed classified information to people outside of the government and asked them to print out a hard copy for her and Bill. This is one of the emails that the Obama administration tried to hide. In it, Hillary Clinton is seen forwarding 2-3 pages worth of classified information to Doug Band. If that name sounds familiar, he...