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HSBC to pay record fine to U.S. government

Dec 11, 2012
The British bank HSBC is to pay almost $2 billion to U.S. authorities to settle a case over money-laundering and sanctions busting. The penalty is the biggest in the history of U.S. banking regulation.
Posted In: HSBC, banking, money laundering

Bank of America settles $2.4 billion lawsuit

Sep 28, 2012
Bank of America will pay $2.4 billion to shareholders as part of a settlement announced this morning. It's compensation for maybe not sharing the whole story when B of A bought the failing brokerage Merrill Lynch in 2008.
Posted In: Bank of America, Merrill Lynch, banking, settlement

British regulators react to LIBOR scandal

Sep 28, 2012
After a recent scandal surrounding manipulation of a key interest rate, reforms are being proposed.
Posted In: LIBOR, British, banking

LIBOR scandal leads to calls for change

Sep 27, 2012
Reform is on the way after fraudulent manipulation of the London Interbank Offered Rate, or LIBOR, the rate used by many banks in lending to each other.
Posted In: LIBOR, banking, Barclays

British banking group gives up LIBOR power

Sep 26, 2012
A group representing British banks is giving up its responsibility for setting a key global interest rate. The British Bankers Association will no longer control LIBOR -- the London Interbank Offered Rate. That's the benchmark for hundreds of trillions of dollars in mortgages, student loans and other transactions around the world.
Posted In: LIBOR, banking

Despite reforms, bank fees keep rising

Sep 24, 2012
Banks are spreading the pain of fees to a wider swath of clients, according to a Bankrate study. Free checking is a dwindling option.
Posted In: banking, fees, overdraft fees

Bank of America announces 16,000 layoffs

Sep 20, 2012
Bank of America is accelerating plans to cut costs by laying off workers. According to the Wall Street Journal, the bank has set a target of cutting 16,000 jobs by the end of this year -- about 6 percent of the bank's workforce.
Posted In: banking, Bank of America, layoffs

A Florida community banker weighs in on the election

Aug 29, 2012
As part of our coverage of "The Real Economy" -- what matters most to voters this election year -- we've invited a guy named Mike Sleaford into the studio to give us his thoughts on the election and the economy.
Posted In: Florida, banking

Mexico experiments with the 'branchless' bank

Jul 25, 2012
With costs to open rural bank branches prohibitive, tech companies look to turn payphones into virtual banks.
Posted In: Mexico, banking, branchless bank

Four more banks under investigation in LIBOR scandal

Jul 19, 2012
According to the Financial Times newspaper, four big European banks have joined Barclays in the not-so-prestigious club of financial institutions being investigated for rigging a benchmark lending rate called LIBOR.
Posted In: banking, LIBOR, London

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