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Keyword: banks

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  • SunTrust announces possible breach of 1.5 million customer records

    04/21/2018 8:58:55 AM PDT · by sheikdetailfeather · 37 replies
    Clark Howard ^ | 4-20-2018 | Theo Thimou
    What we know about the alleged SunTrust data breach On April 20, SunTrust Bank announced that an insider may have stolen records on 1,500,000 customers with the criminal intent of sharing them outside the organization. The bank first became aware of the likelihood of “inappropriate access” of records in February. A subsequent internal investigation now points to an ex-employee for the alleged theft. It is believed the culprit tried to print the records and share them with a “criminal third party,” according to the Wall Street Journal. The investigation is still ongoing as the bank continues to work closely with...
  • Wells Fargo Pays $1 Billion to Federal Regulators

    04/20/2018 9:18:30 PM PDT · by catnipman · 71 replies
    NYslimes ^ | 4/20/2018 | MATTHEW GOLDSTEIN
    Wells Fargo will pay two federal regulators a total of $1 billion to settle an array of investigations into its mortgage and auto-lending practices. Customers were forced to pay for extending the length of so-called interest rate locks on mortgage applications even when the bank was responsible for delays in the application process. Thousands of customers who bought cars with loans from Wells Fargo were forced to buy unnecessary insurance policies from the bank with premiums that topped a $1,000 a year. The bank said the policies could have contributed to about 27,000 customers having their cars repossessed after defaulting...
  • Rahm Emanuel’s Big New Idea for Attacking Chicago’s ‘Gun Violence’ Problem

    04/19/2018 11:25:50 AM PDT · by Simon Green · 34 replies
    The Truth About Guns ^ | 04/19/18 | Dan Zimmerman
    Rahm Emanuel has tried almost everything a lefty anti-gun big city may can think of to cut back on the murder epidemic in his violent city. He’s fired and hired police superintendents, he’s tried (unsuccessfully) to eliminate gun stores within city limits, he’s tried (unsuccessfully) to keep shooting ranges out of his town, he fought concealed carry to the bitter end, and he’s mumbled meaningless platitudes like “public-private mentoring partnerships” and wrung his hands over the perpetual need for more “neighborhood resources.” He’s tried bogus “violence interruptor” programs, basically paying gang bangers (with city tax dollars) to stop banging. He’s...
  • Bank of America to stop lending to military-style weapons makers

    04/10/2018 3:19:36 PM PDT · by rktman · 65 replies
    thehill.com ^ | 4/10/2018 | Luis Sanchez
    A Bank of America executive announced Tuesday that the bank will stop lending money to companies that manufacture "military-style" rifles that are available for civilians to purchase. Anne Finucane, Bank of America’s vice chair, told Bloomberg TV that the bank doesn’t want to “underwrite or finance military-style firearms” and has told a number of gun manufacturers that it will no longer do business with them. The bank has lended to the gun makers Vista Outdoor, Remington and Sturm Ruger, CNBC reported.
  • Wells Fargo Bank

    04/10/2018 9:16:18 AM PDT · by Cold War Veteran - Submarines · 21 replies
    4/10/2018 | Self
    Bank Stands up for 2nd Amendment! I support them
  • New York pushes credit card companies, banks to reconsider gun sales

    04/06/2018 3:00:20 PM PDT · by PROCON · 29 replies
    guns.com ^ | April 6, 2018 | Daniel Terrill
    New York state’s comptroller has asked a host of banks and credit card companies to explore whether or not gun transactions should be treated like high-risk purchases like porn, illicit drugs and cryptocurrencies, Bloomberg magazine reported. Comptroller Thomas DiNapoli, who oversees some $209.1 billion in the state’s public employee retirement fund, the third largest in the country, sent letters out last week urging financial institutions to consider following Citigroup’s effort to force the gun industry to adopt stricter policies. “If gun violence continues unabated in society — public outcry and calls for action may grow and create significant financial risk...
  • Private Financing for Public Infrastructure

    04/05/2018 1:11:45 AM PDT · by Tolerance Sucks Rocks
    The Lane Report ^ | March 16, 2018 | Greg Paeth
    Six Kentucky community banks that could be competing for business have agreed to work together as charter members of the specialty $150 million Commonwealth Infrastructure Fund to finance public-private partnerships (P3) in Kentucky.In the next few months, CIF is expected to reveal one or more inaugural deals.“We are looking at five to 10 potential projects that should start sometime in 2018. We expect to make loans to two or three projects in 2018 after the underwriting process has been completed,” said John Farris, who manages CIF. “We believe we will lend out all $150 million over three to five years...
  • It's time to go after Vladimir Putin's money in the West

    03/30/2018 2:20:16 PM PDT · by GoldenState_Rose · 46 replies
    Washington Post ^ | Mar 2018 | Anders Aslund
    Putin controls the Russia's state institutions, its secret police and its big state companies. Together with a few old friends from St. Petersburg, the president is tapping the big state companies through overpriced no-bid procurement, transfer pricing, asset stripping and stock manipulation. They are also making money by extorting old oligarchs and taking loans from state banks, not to be returned. Overall assessments indicate a personal enrichment of Putin and his closest cronies of some $20 billion to $25 billion a year since 2006, a pilfering from Gazprom of $60 billion from 2004 to 2007...By now, this group would have...
  • obtaining older bank records?

    02/28/2018 3:34:29 PM PST · by MNDude · 41 replies
    I am involved in the lawsuit, and I have been needing bank records from 2010. It sounds like Banks only keep the records for six or seven years. I'm curious if anyone has ever had experienced trying to obtain bank records older than 6 years and if they have had success. By the way, I am with Wells Fargo.
  • Latest Mueller indictment spells trouble for bankers, too

    02/24/2018 9:15:13 AM PST · by komibond · 13 replies
    Yahoo News ^ | 24/02/2018 | Jake Pearson
    NEW YORK (AP) -- Recently filed federal charges against President Donald Trump's ex-campaign chairman Paul Manafort could also pose legal and regulatory risks for the banks that loaned him millions of dollars against his New York real estate in recent years. The most serious exposure may be for a Rhode Island-based bank that employed a "conspirator" in Manafort's scheme to obtain a loan he couldn't afford, according to the 32-count new indictment unsealed this week. Dubbed "Lender B" in court papers, Citizens Bank not only lent Manafort $3.4 million based off of fraudulent documents but, in another case, appeared to...
  • How can banks discriminate against blacks in a free-market economy?

    02/16/2018 8:19:32 AM PST · by SeekAndFind · 20 replies
    American Thinker ^ | 02/16/2018 | Ed Straker
    The PBS NewsHour, which I love for telling me what to think and when to think it, had a piece yesterday about a black lesbian woman who claimed she couldn't get a mortgage because racist banks wouldn't lend to a black person.  When her Japanese lesbian partner applied for a loan, however, she quickly got it. Fifty years after the federal Fair Housing Act banned racial discrimination in lending, African Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far higher than their white counterparts. It found a pattern of troubling denials for people of color...
  • Marijuana firms in cloudy haze over banking woes

    12/29/2017 6:11:20 PM PST · by fluorescence · 11 replies
    Dec 29 (Reuters) - Zach Lazarus, chief executive officer of A Green Alternative, a marijuana dispensary in San Diego, California, has lost count every time he re-opened a bank account after it was closed because of his connection to the cannabis industry. Lazarus has had to play a game of "whack-a-mole" with banks, likening his frustrations to a popular arcade game in which a player repeatedly gets rid of something only to have it re-appear somewhere else. Lazarus and other marijuana business owners in the $8 billion industry resort to cash-only transactions for business and to pay employees because they...
  • Turkey shocked over banker's arrest in New York

    03/29/2017 2:57:05 PM PDT · by Texas Fossil · 21 replies
    Al Monitor ^ | March 29, 2017 | Barin Kayaoglu
    A high-ranking official from Turkey’s second-largest state-owned bank was arrested in New York City March 27. On the orders of the acting US attorney for the Southern District of New York, Joon H. Kim, FBI agents arrested Mehmet Hakan Atilla, Halkbank’s vice president for international banking, for violating the US-led sanctions against Iran. The press release from Kim’s office accused Atilla with participating “in a years-long scheme to violate American sanctions laws by helping Reza Zarrab, a major gold trader, use U.S. financial institutions to engage in prohibited financial transactions that illegally funneled millions of dollars to Iran.” Zarrab, a Turkish citizen...
  • Senate panel votes to roll back some Dodd-Frank requirements

    12/05/2017 6:29:55 PM PST · by Olog-hai · 1 replies
    Associated Press ^ | Dec 5, 2017 6:36 PM EST | Kevin Freking
    A Senate panel on Tuesday approved legislation that would provide banks and credit unions with relief from some of the stricter regulatory requirements put in place after the 2008 financial crisis. The bill, which was approved by a 16-7 vote, raises the threshold at which bank holding companies are considered too big to fail, thus subjecting them to financial stress tests and a capital-planning review. The threshold would increase from $50 billion to $250 billion. The panel rejected an array of amendments that senators said could unravel a bipartisan agreement crafted over several months. The bill is much narrower than...
  • Escheatment of personal property

    11/10/2017 8:19:09 AM PST · by ProudFossil · 37 replies
    vanity
    My wife and I have an account with one of the large mutual fund companies. We were just informed that the state is getting ready to seize the account because it is considered abandoned. We have had the fund for about 12 years with the dividends and capital gains automatically deposited in our bank account. After calling the fund we were told that even though there have been approximately 150 automatic transactions on the account over the last 12 years they did not count as activity and so the state is preparing to seize the account. We were told we...
  • A chilling tale of how easy it is for banks to lose your money

    11/06/2017 10:05:41 PM PST · by Oshkalaboomboom · 17 replies
    NY Post ^ | November 6, 2017 | jJohn Crudele
    Two years ago, I wrote a column that frightened a lot of people. Now, I’m going to scare you again — this time, maybe even more. That column, which appeared on Sept. 24, 2015, explained that it had become easier for states to confiscate people’s bank, money market and other financial accounts because they were “abandoned.” So-called escheatment laws have been on the books forever. But states have been changing the rules so that it has become simpler for them to consider an account dormant — and then take it over. It’s a great scam for states that are desperate...
  • 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...
  • EXCLUSIVE: Tech company which maintained Hillary's secret server was sued for 'illegally accessing'

    08/14/2015 1:04:48 AM PDT · by Cincinatus' Wife · 35 replies
    The Daily Mail ^ | August 13, 2015 | Daniel Bates
    EXCLUSIVE: Tech company which maintained Hillary's secret server was sued for 'illegally accessing' database and 'stealing White House military advisers' phone numbers' The Internet company used by Hillary Clinton to maintain her private server was sued for stealing dozens of phone lines including some which were used by the White House. Platte River Networks is said to have illegally accessed the master database for all US phone numbers. It also seized 390 lines in a move that created chaos across the US government. Among the phone numbers which the company took - which all suddenly stopped working - were lines...
  • EU explores account freezes to prevent runs at failing banks

    07/29/2017 8:45:08 AM PDT · by george76 · 10 replies
    Reuters ^ | JULY 28, 2017 | Francesco Guarascio
    European Union states are considering measures which would allow them to temporarily stop people withdrawing money from their accounts to prevent bank runs ... The move is aimed at helping rescue lenders that are deemed failing or likely to fail, but critics say it could hit confidence and might even hasten withdrawals at the first rumors of a bank being in trouble. The proposal, which has been in the works since the beginning of this year, comes less than two months after a run on deposits at Banco Popular contributed to the collapse of the Spanish lender. It also come...
  • The great highway loot

    06/26/2017 5:32:12 AM PDT · by Tolerance Sucks Rocks · 1 replies
    The Indian Express ^ | June 12, 2017 | Gajendra Haldea
    Though belated, the recent ordinance empowering the Reserve Bank of India to ensure recoveries from wilful defaulters is a step in the right direction. However, a lack of legal authority was never a barrier in the government’s ongoing war against corruption, black money and bad debts. Be that as it may, it is imperative for the government to demonstrate tangible results that would carry conviction with the masses. If only it were to examine the anatomy and modus operandi of national highway projects, it would discover a large-scale plunder of public money waiting to be booked. The usual contractor-engineer-politician troika...