Brexit Vote Has Already Cost Households ‘a Lot of Money’
Britain’s top central banker says the country’s vote nearly two years ago to leave the European Union has cost the average household in the country 900 pounds.
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Money Laundering
Federal prosecutors on Friday fined Rabobank $500,000 — in addition to its forfeiture of $369 million — for obstructing the Comptroller of the Currency by concealing deficiencies in its anti-money-laundering program, the largest criminal penalty ever in the Southern District of California.
Read moreEighth Circuit Hears Ponzi Case Against Regional Bank
The Eighth Circuit heard arguments Thursday over a court-appointed receiver’s claim that Wisconsin-based Associated Bank played a role in a $79 million Ponzi scheme.
Read moreMexican Bonds
In a federal antitrust class action, the Boston Retirement System claims Banco Santander and dozens of co-conspirators, including JPMorganChase and Citigroup, manipulated the price of Mexican government bonds.
Read moreUS Hits Head of Iran’s Central Bank With Terror Sanctions
The Trump administration is designating the head of Iran’s central bank as a terrorist and hitting him with sanctions intended to further isolate Iran from the global financial system.
Read moreUK Authority Fines Barclays CEO in Whistleblower Affair
British regulators have fined Barclays CEO Jes Staley 642,430 pounds ($871,976) for his attempt to identify a whistleblower.
Read moreAiding & Abetting Bar Works
A group of investors who say they were defrauded by Renwick Haddow’s coworking scam Bar Works sued JPMorgan Chase on Thursday, saying the bank “knew Haddow was a crook and was aiding a fraudulent scheme.”
Read moreBank of England Likely to Delay Rate Hike as Economy Slows
Mark Carney, the governor of the Bank of England, and his eight colleagues on the Monetary Policy Committee, are striving to become more predictable in signaling when Britain’s interest rates will rise again. They had for weeks hinted that a hike was due Thursday and investors were prepared.
Read moreOhio Man Accused of Robbing Same Bank Day After Prison Release
An Ohio man who was convicted of robbing a Key Bank in Cleveland returned to the branch the day after he was released from prison and repeated the same crime, according to federal prosecutors.
Read moreGoldman Sachs Saddled With $109M Fine in Forex Probe
Risky practices in its foreign exchange business will cost Goldman Sachs more than $109 million after regulators fined the bank Tuesday.
Read moreDeutsche Bank Steps Back From Ambition to Be Global Player
Deutsche Bank will take another step back from its decades-long global expansion, announcing Thursday that it will focus its investment banking business more on Europe and reduce operations in the U.S. and Asia.
Read moreBanking Executives
The European General Court rejected a challenge Tuesday by the French banking group Credit Agricole after the European Central Bank refused to let it let its newly appointed chairman of the board of directors also serve in the executive role of “effective director.”
Read moreSunTrust Bank Data
SunTrust Banks warned customers Friday that a former employee may have stolen data that compromises the accounts of 1.5 million employees.
Read moreIsraeli Official’s Immunity for US Citizen’s Killing Debated at Ninth Circuit
Attorneys for the federal government urged a Ninth Circuit panel Thursday to uphold a federal judge’s finding that Israeli Defense Minister Ehud Barak is immune from prosecution for commanding a 2010 raid on a humanitarian flotilla that left 10 people dead in the Mediterranean Sea.
Read moreBanks Cannot Sue Grocery Chain Over Major Data Breach
The Seventh Circuit ruled Wednesday that customers’ banks cannot recover directly from the grocery chain Schnuck Markets after hackers stole the information of 2.4 million customer credit and debit cards and made millions worth of unauthorized purchases.
Read moreMary J. Blige Sued for $9 Million on Mortgage Notes
Accusing Mary J. Blige of falling behind on mortgage payments for two New Jersey homes, Apex Bank brought a $9 million complaint Friday against the star and her ex-husband.
Read moreStormy Daniels Demands Treasury Info on ‘Suspicious’ Hush Payment
The lawyer representing adult film star Stormy Daniels asked the U.S Treasury Department Tuesday to share its suspicious activity report regarding an “illicit and shadowy” payment made to Daniels as part of a nondisclosure agreement over her alleged affair with President Donald Trump.
Read moreSex-Bias Class Action Certified Against Goldman Sachs
A federal judge has paved the way for high-ranking women at Goldman Sachs to fight the bank on long-running gender-discrimination claims as a class.
Read moreFinancial-Crisis Charges Net $2B Deal With Barclays
Barclays Capital struck a $2 billion settlement Thursday to resolve federal claims over its sale of shaky mortgage loans in the lead-up to the 2008 financial crisis.
Read moreBank of England Welcomes Post-Brexit Transition Deal
The Bank of England is advising European financial firms operating in the U.K. to plan to operate as they do now for a period after Brexit in a little more than a year’s time.
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