Introductie - Overstapservice. Geef niet terug! State court ruling deals blow to U.S. bank mortgage system. By Michelle Conlin Fri Sep 14, 2012 7:04pm EDT (Reuters) - The highest court in the state of Washington recently ruled that a company that has foreclosed on millions of mortgages nationwide can be sued for fraud, a decision that could cause a new round of trouble for the nation's banks.
The ruling is one of the first to allow consumers to seek damages from Mortgage Electronic Registration Systems, a company set up by the nation's major banks, if they can prove they were harmed. Legal experts said last month's decision from the Washington Supreme Court could become a precedent for courts in other states. Wall Street women. A day without banks. It is 7am on a sunny Saturday morning in Copenhagen, Denmark.
The MYC4 office is full of 25 volunteers ready for the day’s campaign which is intended to create awareness about the problem that 380 million adults don’t have access to a bank in Africa. The 25 volunteers are sent out in teams of two to cover the 100 ATMs in Copenhagen with a sign to close the bank. The idea with the sign was to give the bank customers the feeling of not having a bank. Apologetic Swiss banks sweat it out as U.S., Europe mull redress. By Katharina Bart ZURICH Sun Aug 12, 2012 8:52am EDT ZURICH (Reuters) - Swiss banks hoping to atone for decades of complicity in tax evasion may be left to sweat it out for months as the United States and Germany ponder the right level of punishment.
Switzerland has long dodged U.S. accusations of hiding money for wealthy Americans. But now eleven Swiss banks are under investigation in the United States and there is pressure too from Europe where burdened taxpayers want scalps after numerous banking scandals. Insight: At least three banks seen central to Libor rigging. (Reuters) - New details from court documents and sources close to the Libor scandal investigation suggest that groups of traders working at three major European banks were heavily involved in rigging global benchmark interest rates.
Some of those traders, including one who used to work at Barclays Plc in New York, still have senior positions on Wall Street trading desks. Until now, most of the attention has involved traders at Barclays, which last month reached a $453 million settlement with U.S. and UK authorities for its role in the manipulation of rates. Now, it is becoming clear that traders from at least two other banks - UK-based Royal Bank of Scotland Group Plc and Switzerland's UBS AG - played a central role. Among them, the three banks employed more than a dozen traders who sought to influence rates in either dollar, euro or yen rates. Exclusive: Prosecutors, regulators close to making Libor arrests. (Reuters) - Prosecutors and European regulators are close to arresting individual traders and charging them with colluding to manipulate global benchmark interest rates, according to people familiar with a sweeping investigation into the rigging scandal.
Federal prosecutors in Washington, D.C., have recently contacted lawyers representing some of the suspects to notify them that criminal charges and arrests could be imminent, said two of those sources, who asked not to be identified because the investigation is ongoing. Defense lawyers, some of whom represent suspects, said prosecutors have indicated they plan to begin making arrests and filing criminal charges in the next few weeks. Exclusive: Banks in Libor probe consider group settlement-sources. Nederlands geld belegd in leveranciers Syrisch regime. The Rise Of Dishonest Banking.
Top 10 Biggest Trading Losses in History. German metalworking conglomerate Metallgesellschaft AG gambled hard and fell even harder.
In 1993 the company lost $1.3 billion after speculating that oil prices would rise. Oil plummeted, however, forcing shareholders to hastily put together a $2 billion rescue package to keep the company from going under bankruptcy. CEO Heinz C. Schimmelbusch, widely respected as a financial wunderkind, was quickly ousted along with most of Metallgesellschaft’s senior management.
JPMorgan $2 billion loss hits shares, dents image. NEW YORK/LONDON (Reuters) - JPMorgan Chase & Co lost $15 billion in market value and a notch in its credit ratings on Friday while a chorus of regulators and politicians reacted to its surprise $2 billion trading loss by demanding stiffer oversight for the banking industry. Republican Senator Bob Corker of Tennessee called for a hearing into the losses that the largest U.S. bank disclosed Thursday, while Securities and Exchange Commission Chairman Mary Schapiro told reporters: "It's safe to say that all the regulators are focused on this. " The debacle sparked new fears about big banks and prompted Dallas Federal Reserve Bank President Richard Fisher, who has called for the breakup of the top five U.S. banks, to say he is worried the biggest banks do not have adequate risk management. The fallout extended across much of the banking sector, with shares of some of Wall Street's top names declining on Friday.
Chief Executive Jamie Dimon's reputation also took a hit. P-plus. Invest in green energy for just £5. Finance is being sought for a wind turbine, and solar and hydro schemes are planned.
Photograph: Murdo Macleod A new website has been launched with the aim of enabling people to invest from as little as £5 in green energy projects and enjoy an attractive return. Abundance describes itself as a "community finance platform" allowing small investors to put money into UK renewable energy schemes and receive a regular cash return based on the energy produced.
It is looking to raise money from consumers tired of the old banking model who want their cash to be used to help fund green projects and facilitate change. And it says rates of return are expected to average 5%-9%, depending on the type of scheme in which the money is invested. Insight: Top Justice officials connected to mortgage banks.
(Reuters) - U.S.
Attorney General Eric Holder and Lanny Breuer, head of the Justice Department's criminal division, were partners for years at a Washington law firm that represented a Who's Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters inquiry shows. The firm, Covington & Burling, is one of Washington's biggest white shoe law firms. Law professors and other federal ethics experts said that federal conflict of interest rules required Holder and Breuer to recuse themselves from any Justice Department decisions relating to law firm clients they personally had done work for.
Both the Justice Department and Covington declined to say if either official had personally worked on matters for the big mortgage industry clients. Banken die het goede voorbeeld geven. Communique Occupy de Banken. Disruptive Payments Network Dwolla Now Provides Users With Instant Access To Cash. Today, online and mobile payments platform Dwolla is launching what may be one of its biggest features yet: instant access to cash.
Via the new opt-in setting called “Dwolla Instant,” users will be able to immediately deposit and send cash without the usual wait times associated with the mobile payment platform – typically a few days. To use Dwolla Instant, users must first enroll in the service, which requires a monthly $3 participation fee. This fee will begin from the day you switch on Dwolla Instant, but can be turned off and on at will, without penalty. Once enabled, you can then send money to a friend, pay a merchant, or deposit funds instantly. Can citizen banking neuter the fat cats? - opinion - 12 December 2011. A LOT of people would like to do away with bankers right now.
But targeting individuals is not very helpful: most bankers were merely executing the plans of the institutions they worked for. How about ditching banks instead? Peer-to-peer lenders hope they can undermine banking in much the way that internet upstarts revolutionised the music business. But just as the buccaneering Napster found itself stymied by legal issues, so regulatory concerns have forced the citizen bankers to water down their radicalism (see "Bank says no? Ditch the bank – borrow from the crowd"). How to Turn Savings into Debt in No Time. Simpele zielen. Voor duizenden Nederlanders dreigt huisuitzetting. Bankers' Salaries Vs. Everyone Else's. Why are the Occupy Wall Streeters so angry at bankers?
This chart might give you some idea: Via New York State Comptroller report. That chart is from a new report from the New York State Comptroller’s office on the securities industry in New York City. It shows that the average salary in the industry in 2010 was $361,330 — five and a half times the average salary in the rest of the private sector in the city ($66,120). By contrast, 30 years ago such salaries were only twice as high as in the rest of the private sector. Get Rid of Banks and Replace Them With P2P Lending? Google-Plus is going to be your bank account. Where will Apple, Amazon, Google meet up next year or the year after?
They're all going to be banks! Why do you think Apple is piling up all that cash. It's a lot of cash for a consumer products company. Will Banks Take Over Daily Deals Business by Selling Customer Data? The banking industry has launched a new initiative that will bring deals and discounts to consumers through the banks themselves. Banks have begun selling consumers' personalized information to merchants who in turn offer deals based on spending habits or other criteria. Daily deals sites like Groupon or LivingSocial do not have massive amounts of data about their users. Goldman Sachs stuurt arme vrouw op cursus - Economie - de Volksk. ING eerste kandidaat ‘ rommelbank’ - Economie - de Volkskrant. At CitiGroup: Voting "Yes" on Both Climate Action and. Banks Launch The Climate Principles · Environmental Leader · Gre. December 3, 2008. Ingreep in de VS om paniek te beteugelen. De winnaars van de kredietcrisis - Economie - de Volkskrant.
Nrc.nl - Economie - Industrie in VS krimpt door de huizencrisis. Nrc.nl - Economie - Crisis raakt ook de grote Nederlandse banken. Nrc.nl - Economie - Banken moeten failliet kunnen gaan. Nrc.nl - Economie - Wellink: risico’s zijn onderschat. Voor de Wereld van Morgen - Denk mee over biodiversiteit - Teamb. Nieuwsthema's-kredietcrisis. Nrc.nl - Economie - Hypotheekcrisis slechts de eerste schok. Nrc.nl - Economie - 'Goldman Sachs wil Northern Rock te hul. Nrc.nl - Economie - Straks is er geen geld meer voor de biblioth.