British Regulator Fines UBS $47.6 Million
Bank failed to stop rogue trader from losing more than $2 billion dollars
Banking
Michigan Supreme Court Justice Charged with Defrauding Bank
Accused of hiding assets to justify a short sale to erase mortgage debt
New York AG Accuses Credit Suisse of Fraud
$11.2 billion connected to mortgage-backed securities
Banks Pay Out $22B in Mortgage Relief
Borrowers were upset over foreclosures. Well, they always are, aren't they?
Bank of New York Mellon to Pay for Madoff Fraud
$210 million to clients who have suffered losses
Warren Seat on Senate Banking Committee Likely
The senator-elect has called for breaking up big banks
Barclays Being Investigated
The Department for Justice and Securities and Exchange Commission are looking into the bank's power trading operations in parts of the U.S. between 2006 and 2008
UBS to Cut Thousands of Jobs By 2015
Most of the 10,000 layoffs will occur in London, Zurich, and the U.S.
Germany Checking Up on its Gold Reserves
The gold has never been physically checked by the Bundesbank
The Unintended Consequences of Cracking Down on Payday Lenders
Payday lenders aren't the demonic entities they're made out to be.
EU Leaders Agree on Creation of Single Bank Supervisor
European Central Bank will oversee the new mechanism
Officials Believe Iran Behind Cyberattacks on Banks
Iran would like to remind everybody about Stuxnet
JP Morgan Profits Up on Mortgage Surge
Earnings increased 34 percent largely on more home loans
Wal-Mart to Offer Prepaid Cards and Debit Accounts
Surprise partnership with American Express
Congress Ponders More Iran Sanctions
Would expand penalties to non-oil financial transactions
Bank of America to Pay Merrill Lynch Settlement
Controversial suit to cost the bank $2.4 billion
Goldman Sachs to Pay $14.4 Million in Pay-to-Play Case
Former banker made contributions to Massachusetts treasurer while seeking business
US Bank Hit with Cyberattack
Affecting site and online activities similar to what other banks have faced
Bank of America to Cut 16,000 Jobs by Year's End
Will have fewer branches and smaller mortgage operation
UBS Was Aware of Huge Problems Weeks Before Arrest of Trader
$3.6 billion hole in accounts raised some eyebrows
Feds: 20 Percent of U.S. Households "Underbanked"
Feds worried those people use payday lenders and check cashing facilities instead.
Americans Increasingly Avoid Banks
Even higher-income people find attractive financial alternatives elsewhere
British Business Secretary to Confirm Plans For a Government-Run "Business Bank"
Aims to increase lending to companies
Iceland Shows Other Europeans How to Survive Bankruptcy
Small Atlantic nation enjoys growth and employment gains after failing to rescue its banks. Mainland Europe remains stuck with stagnation, decline, and ruinous "rescue" packages.
Accidental Millionaire Jailed
Man who had millions of dollars mistakenly sent to his account is sentenced to four years and seven months.
Chinese Banks Prop Up "Zombie" Companies
Banks lend to companies because the government makes them, not because they're good loans.
French Bankers Leave France To Escape Higher Taxes
Turns out a seventy five percent income tax makes people reconsider residency.
