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Sheila Bair's 4 Types of Dysfunctional Regulators
Sheila Bair, former FDIC chair and current industry critic, thinks that regulators are partly to blame not only for the financial crisis and the banking industry's continuing lousy reputation, but she also has plenty of criticism for bankers and politicians.
Spain on Track With Bank Sector Reform
Spain is on track to correct
the problems in its financial sector, but needs more decisive
action to deal with challenges facing some banks, the European
Central Bank and the European Commission said in a joint
statement on Friday.
Citi Fined $2 Million by Massachusetts Over Facebook IPO
Massachusetts top securities
regulator said on Friday that his office fined a Citigroup Inc
unit $2 million after research analysts improperly
disclosed confidential information about Facebook Inc's
initial public offering.
Financial Services CEOs Among Those Calling for Action to Reduce Federal Deficit
Chief executives of
more than 80 big U.S. corporations, including Goldman Sachs
, JPMorgan and Boeing, joined forces on
Thursday to pressure Congress to reduce the federal deficit with
tax reform and spending cuts.
Basel Official Defends New Global Bank Capital Rules
A simple approach to reining in
risks at banks would fail to capture the complexity of modern
day lenders, a top global regulator said.
How a Banking Union is Dividing Europe
European leaders meet for a two-day
summit on Thursday where they will try to bridge divisions over
a banking union intended to underpin the euro zone. But
questions over the scheme's scope and mechanisms are likely to
take months to resolve.
Red Flags in Cloud Vendor Management
Seven often overlooked components that put compliance in jeopardy – and how to address them.
Big Banks Should be Smaller, Says Fed's Bullard
Big U.S. banks should become
smaller to make any failure more manageable, a senior Federal
Reserve official said on Thursday, supporting a suggestion that
the size of banks be limited to a specific percentage of U.S.
gross domestic product.
Renaissance of Fraud Spurs New Approaches to Anti-Money Laundering
Adopting a comprehensive approach to financial crime prevention, with greater reliance on analytics tools and collaboration among banks, regulators and law enforcement entities, was the theme of ACAMS' recent AML & Financial Crime conference.
Business Groups Sue SEC Over Dodd-Frank Anti-Bribery Rule
Four business groups on
Wednesday filed a lawsuit against the U.S. Securities and
Exchange Commission's new rule requiring oil, mining and gas
companies to disclose payments they make to foreign governments.
U.S. Consumer Credit Bounces Back in August
U.S. consumer credit rebounded
strongly in August after posting its first decline in nearly a
year in July, Federal Reserve data showed on Friday.
Basel III Rules Set for Patchy Global Start
Many countries will not be ready
by January to enforce new banking rules that form the world's
regulatory response to the financial crisis, a global
supervisory body said on Monday.
Greek Banks NBG, Eurobank in Merger Talks
Two of Greece's biggest banks,
National and Eurobank, are in merger talks
to create the country's biggest lender, banking sources said on
Friday.
Barclays to Restructure Investment Bank Arm
Barclays announced a
shake up at its investment banking business on Thursday aimed at
streamlining the business in the face of a more challenging
outlook for the industry.
US Officials See More Financial Crisis Cases After JPMorgan Suit
Federal and state officials
pledged on Tuesday to bring more cases against misconduct that
fueled the financial crisis, after New York sued JPMorgan Chase
& Co late Monday over mortgage-backed securities
packaged and sold by Bear Stearns.
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