Buffalo man admits to defrauding banks of nearly $500,000
BUFFALO, N.Y. — A former Buffalo resident pleaded guilty on Tuesday to orchestrating a scheme that defrauded two banks out of nearly half a million dollars. Joshua Parra, 32, who now lives…
Rocklin Business Owner Sentenced to 10 Years in Prison for Embezzling from His Employer and, While Awaiting Sentencing, Defrauding Banks
SACRAMENTO, Calif. — Kevin Lee Co, 51, of Rocklin, was sentenced today to 10 years in prison for wire fraud, money laundering and submitting false statements to a financial institution, U.S. Attorney…
ECB steps in as banks dip toes in crypto pool
By Huw Jones LONDON (Reuters) – The European Central Bank (ECB) said on Wednesday it would harmonise how banks offer cryptoassets to ensure they have enough capital and expertise in a sector…
Exclusive-World Bank’s IFC taps blockchain for carbon offsets
By Simon Jessop, Shadia Nasralla and Cole Horton LONDON/NEW YORK (Reuters) – International Finance Corp (IFC), a World Bank affiliate, told Reuters on Wednesday it is backing a blockchain-enabled platform to trade…
Analysis: 100 banks, 1,000 suspects: German fraud probe puts Scholz on the spot
By Marta Orosz and Tom Sims FRANKFURT (Reuters) – German chancellor Olaf Scholz faces lawmakers’ questions this week over his role in tackling a multibillion-euro tax fraud as a sprawling probe into…
New Zealand central bank’s Orr does not expect recession
WELLINGTON (Reuters) – Reserve Bank of New Zealand Governor Adrian Orr said on Wednesday that while growth would slow he did not expect a recession, adding that the central bank believed it…
Federal Reserve issues guidance for banks considering crypto activities
By Pete Schroeder and Hannah Lang WASHINGTON (Reuters) – The U.S. Federal Reserve on Tuesday issued additional guidance for banks considering activities involving cryptocurrencies, emphasizing that firms must notify the Fed beforehand…
China to accelerate disposal of smaller banks’ bad loans
BEIJING – China may start a pilot program in six provinces to further speed up the disposal of bad loans by local small- and medium-sized banks, financial news media outlet 21jingji reported…
‘The Raid Unifies Republicans’: Banks Describes Meeting ‘Fired Up’ Trump With House GOP
‘The Raid Unifies Republicans’: Banks Describes Meeting ‘Fired Up’ Trump With House GOP Harold Hutchison on August 10, 2022 Republican Rep. Jim Banks of Indiana said the Federal Bureau of Investigation’s Monday…
BoE’s Pill says central banks best placed to control monetary policy
LONDON – Bank of England Chief Economist Huw Pill said on Wednesday that central banks are able to take tough decisions on monetary policy, in contrast to governments that are driven by…
Demand for FX derivatives jumps as central banks prep rate rises- CME Group
LONDON – Demand for currency derivatives has shot up this year, data from CME Group showed on Wednesday, in a sign investors are positioning for hefty interest rate hikes from the U.S.…
Thai banks urged to freeze rates even if cbank hikes policy rate-Finance Minister
BANGKOK – Thailand’s commercial banks should not rush to raise their interest rates even though the central bank will tighten monetary policy, the finance minister said on Wednesday. The Bank of Thailand…
Three Defendants Sentenced In Fraud And Identity Theft Scam Targeting Customers Of Banks And Credit Unions
Three Miami Residents Stole $1,400,000 From Hundreds of Depositors by Posing as Security Officials to Obtain Access to Online Accounts. GRAND RAPIDS, MICHIGAN — U.S. District Judge…
Analysis-Hong Kong’s cheap funding window shrinks as banks feel cash tighten
SHANGHAI/HONG KONG – Investors who have exploited Hong Kong’s cheap interest rates all year to fund other trades globally are finding that the window is closing as local cash conditions tighten and…
Higher interest rates a ‘bright spot’ for Europe’s banks
By Tom Sims, Jesús Aguado and Lawrence White FRANKFURT/MADRID/LONDON – European banks are hoping the boost to their businesses from higher interest rates will be long-lasting as they navigate the economic fallout…
Analysis: U.S. banks face trillion-dollar reverse repo headache
By Gertrude Chavez-Dreyfuss NEW YORK – The trillions of dollars in overnight cash tucked away daily at the Federal Reserve could turn into a major headache for banks that could squeeze their…
FDIC urges banks to police misleading crypto claims on deposit insurance
WASHINGTON – A U.S. banking regulator is urging banks dealing with cryptocurrency companies that they need to make sure customers know which of their funds will be insured by the government in…
Spanish banks weigh impact of windfall tax, consider legal challenge
By Jesús Aguado and Emma Pinedo MADRID – BBVA and Caixabank on Friday said they were looking at the potential impact of a proposed tax on banks in Spain and exploring taking…
Spanish ruling coalition proposes windfall tax on utilities and banks
By Christina Thykjaer and Jesús Aguado MADRID – Spain’s leftist ruling coalition introduced a draft bill on Thursday to create a temporary tax on banks and power utilities, aiming to raise 7…
As credit demand grows in India, banks may soon be scrambling for deposits
By Nupur Anand and Swati Bhat MUMBAI – Loan growth in India is at a three-year high and seen inching up further as economic activity gains traction but a much slower growth…
Europe’s banks flash some good news but downbeat on economy
By Tom Sims and Sinead Cruise FRANKFURT/LONDON – European banks this week offered flashes of surprisingly good news on profits, but some executives spoke of a bleak outlook for the rest of…
Central banks must resist urge to back off inflation fight – IMF economist
By David Lawder WASHINGTON – Global central banks may get “antsy” about the swiftness of economic pain brought on by monetary tightening to fight inflation and be tempted to cut interest rates…
Exclusive: Citi, Raiffeisen, other foreign banks seek staff in Russia as they struggle to exit
MOSCOW – Russian divisions of foreign banks, such as Citi and Raiffeisen Bank International, have started looking for staff this month after Russian authorities moved to block them exiting the country, industry…
Analysis-Asia’s central banks forced to play catch-up in global rush to raise rates
By Rae Wee SINGAPORE – Having bucked a global dash to tighten monetary policy for a year, Asian central banks find themselves scrambling to catch up in order to tackle rising inflation…
Australia to review central bank’s monetary tools, rate forecasts
SYDNEY – Australia will launch a review of the Reserve Bank of Australia’s (RBA) inflation target, monetary tools and board structure, Treasurer Jim Chalmers said on Wednesday, amid criticism over the central…
U.S. banks take hit on leveraged loans as deals slump, rates rise
By Saeed Azhar and Elizabeth Dilts Marshall NEW YORK – U.S. banks have started taking a hit on their leveraged loans’ exposure as the outlook for dealmaking turns sour amid rising interest…
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