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US News & Information
News and Information
July 25, 2014 Islamic banking held back by lack of liquidity in market
Hispanic Business - This is very important as, without effective valuation, traders are unable to establish îclear profitî-making opportunities. "Yet, standardisation can only do so much, and a more innovative...
July 22, 2014 Credit Suisse: $779M loss after U.S. settlementSource: USA Today
Swiss banking giant Credit Suisse reported more than $700 million in losses for the second quarter of 2014, which the company attributes to a $2.6 billion settlement with the United States for helping wealthy American clients...
July 22, 2014 Report: Hedge funds escaped billions in taxesSource: USA Today
Two large banks used a complex financial scheme to help 13 hedge funds avoid paying billions of dollars in taxes and evade federal borrowing limits on brokerage accounts over a 15-year period, according to the findings of a...
July 10, 2014 Banks face intensified sanctions probes in U.S.Source: USA Today
Following BNP Paribas' record $8.9 billion in penalties for violating U.S. economic sanctions, federal and state authorities are intensifying investigations of other foreign banks over signs of similar infractions. At least six...
Citigroup Inc. (C) may reach an agreement with federal prosecutors as early as next week to resolve a probe into sales of mortgage-backed bonds before the 2008 financial crisis, a person familiar with the negotiations said. The...
June 30, 2014 US authorities 'picking' on European banksSource: BBC News _ text/audio
There is an "obvious case" to suggest that US authorities are placing larger fines on European banks, Financial Services Club chair Chris Skinner has said. His comments came as it was reported BNP Paribas could be fined $8.9bn...
June 20, 2014 BofA Must Face U.S. Suit Over Mortgage-Securities FraudSource: BusinessWeek
Bank of America Corp. (BAC:US) must face the U.S. Justice Department’s lawsuit accusing it of misleading investors about the quality of loans tied to $850 million in residential mortgage-backed securities. U.S. District Judge Max...
New accounting rules on the way European banks book losses could mean they need to put aside more capital, adding to the pressure they already face from regulators. More than half of the banks surveyed by Deloitte on the new IFRS...
June 16, 2014 No bank 'above the law', warns US attorney general
The Straits Times - WASHINGTON (AFP) - US Attorney General Eric Holder has warned that no financial institution should consider itself "above the law," amid investigations into alleged tax evasion and money laundering by European...
June 10, 2014 U.S. fine threatens BNP Paribas rating
CNN Money - LONDON (CNNMoney) A massive U.S. fine for sanctions busting could hit BNP Paribas' credit rating, îStandard and Poor'sî said Wednesday. The credit rating agency said it could cut the French bank's...
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