Philadelphia Bank Manager, New York Accomplice Nabbed for 38 False COVID-19 Loans
CAMDEN, NJ – Tommy Hawkins, a former branch manager of a national bank, and Sieff Robert Sargeant, a New York resident, have pleaded guilty to charges related to a multi-state COVID-19 relief…
China’s new yuan loans seen rebounding in March: Reuters poll
BEIJING (Reuters) – China’s new yuan loans are expected to rebound in March from a sharp drop in February, a Reuters poll showed, as the central bank keeps policy accommodative to support…
China’s green loans exceed $3.2 trln, central bank chief says
BOAO, China (Reuters) – China’s outstanding green loans currently exceed 22 trillion yuan ($3.2 trillion), accounting for about 10% of the country’s total loan balance, People’s Bank of China Governor Yi Gang…
Baltimore Man Pleads Guilty to Federal Charge for Fraudulently Obtaining More Than $1.2 Million in COVID-19 CARES Act Loans
BALTIMORE, MARYLAND – On Friday, Baltimore man Alexander Barabash, 52, pleaded guilty to wire fraud in relation to submitting fraudulent Coronavirus Aid, Relief, and Economic Security (CARES) Act loan applications. Barabash fraudulently…
First Citizens Bank to buy SVB’s deposits, loans from FDIC
(Reuters) – First Citizens Bank & Trust Co will buy all of Silicon Valley Bank’s deposits and loans from the Federal Deposit Insurance Corporation (FDIC), the regulator said in a statement. (Reporting…
Analysis-Small U.S. banks imperiled by big office loans
By Saeed Azhar and Matt Tracy NEW YORK (Reuters) – Small U.S. lenders that have outsized exposure to office loans could become the next group to face strains after bank failures roiled…
New Jersey Businessman Sentenced to 36 Months for Fraudulently Obtaining PPP Loans
NEWARK, NJ – Rocco A. Malanga, a 39-year-old businessman from Warren County, New Jersey, has been sentenced on Wednesday to 36 months in prison for fraudulently obtaining nearly $1.8 million in federal…
HSBC urges SVB UK staff to assure clients their cash, loans are safe – memo
LONDON (Reuters) – HSBC’s top bosses have called on employees at the rescued British arm of failed U.S. lender Silicon Valley Bank to assure clients “their deposits are safe and loans are…
China central bank ramps up fund injection via medium-term policy loans
SHANGHAI (Reuters) – China’s central bank ramped up liquidity injections when rolling over maturing medium-term policy loans for a fourth month in a row on Wednesday, while keeping the interest rate unchanged,…
India’s Adani prepays $2.15 billion share-backed loans
(Reuters) – Adani Group said it had completed full prepayment of margin-linked share-backed financing worth $2.15 billion as part of its debt prepayment plan, before its deadline of March 31. The Gautam…
Michigan’s Largest Teachers Union To Pay Up After Taking Millions In Federal Loans They Weren’t Eligible For
Michigan’s Largest Teachers Union To Pay Up After Taking Millions In Federal Loans They Weren’t Eligible For Reagan Reese on March 7, 2023 Michigan’s largest teachers union and its health insurance affiliate…
New Jersey governor announces zero percent loans for security upgrades at family planning centers
TRENTON, NJ – New Jersey Governor Phil Murphy has announced $5 million in state funding that will allow family planning centers and abortion clinics interest-free loans of up to $100,000 to upgrade…
Thai banks’ bad loans slow to 2.73% of lending at December-end -central bank
BANGKOK (Reuters) – Thai banks’ non-performing loans stood at 2.73% of total lending at the end of December 2022, down from 2.77% at the end of September, helped by debt restructuring, the…
Texas Man Sentenced To 42 Months In Prison For Role In Scheme To Fraudulently Obtain Over $30 Million In COVID-19 Relief Loans
Damian Williams, the United States Attorney for the Southern District of New York, announced that AMOS MUNDENDI, a/k/a “Mos,” a/k/a “El Ashile Mundi,” was sentenced today in Manhattan federal court by United…
China Jan new bank loans jump more than expected to record 4.9 trln yuan
By Judy Hua and Kevin Yao BEIJING (Reuters) -New bank loans in China jumped more than expected to a record 4.9 trillion yuan ($720.21 billion) in January as the central bank looks…
China’s Jan new yuan loans seen hitting record high on policy support- Reuters poll
BEIJING (Reuters) – Yuan loans extended by Chinese banks likely surged to a record high in January as the central bank moved to shore up growth in the world’s second-biggest economy following…
U.S. lender Citizens stepping back from auto loans – CEO
By Saeed Azhar NEW YORK (Reuters) – U.S. lender Citizens Financial Group cut back on auto lending last year and plans to further reduce its exposure to the segment as it becomes…
U.S. lender Citizens stepping back from auto loans – CEO
By Saeed Azhar NEW YORK (Reuters) – U.S. lender Citizens Financial Group cut back on auto lending last year and plans to further reduce its exposure to the segment as it becomes…
East Providence Man Sentenced for Fraudulently Applying for COVID-Relief Business Loans
PROVIDENCE, R.I. – An East Providence man who submitted eight fraudulent loan applications seeking more than $375,000 in COVID-19 relief business loans guaranteed by the federal Small Business Administration has been sentenced…
China Dec new bank loans beat forecast, 2022 lending at record high
By Judy Hua and Kevin Yao BEIJING (Reuters) -New bank lending in China unexpectedly rose in December from the previous month, central bank data showed on Tuesday, with 2022 setting a record…
Fort Stewart soldier sentenced to prison for prolific fraud scheme targeting COVID-19 relief programs, student loans
SAVANNAH, GA: A U.S. Army soldier stationed at Fort Stewart has been sentenced to federal prison for leading a prolific fraud scheme in which she and others illegally raked in millions of…
Windsor Mill Couple Facing Federal Charges for Allegedly Obtaining and Attempting to Obtain Multiple Fraudulent COVID-19 Cares Act Loans and Fraudulent Unemployment Insurance Benefits
Baltimore, Maryland – A federal criminal complaint has been filed charging Tomeka Glenn, age 46, and Kevin Davis, age 42, both of Windsor Mill, Maryland, for conspiracy to commit wire fraud, relating…
Greece repays euro zone bailout loans early for first time-source
ATHENS (Reuters) -Greece has repaid ahead of schedule 2.7 billion euros ($2.87 billion) of loans owed to euro zone countries under the first bailout it received during its decade-long debt crisis, a…
Businesses Still Struggling Under Biden’s Economy As Pandemic Loans Come Due
Businesses Still Struggling Under Biden’s Economy As Pandemic Loans Come Due Bronson Winslow on December 14, 2022 Millions of businesses are worried about their finances after pandemic loan repayments began in October,…
IMF shareholders deeply divided on whether to suspend surcharges on some loans
By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund’s executive board on Monday discussed the surcharges it collects from mostly middle- and lower-income countries on larger loans that are not repaid…
Goldman Sachs to stop making unsecured consumer loans – source
By Saeed Azhar NEW YORK (Reuters) – Goldman Sachs Group Inc plans to stop originating unsecured consumer loans, a source familiar with the move told Reuters on Monday, in another sign the…
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